Treasurer

TREASURER’S REPORT
Period Ending December 31, 2007


ASSETS YTD-2007 YTD-2006
Loans $    21,479,144 $   19,899,255
Allowances (124,129) (143,111)
Cash and Investments 4,763,751 5,486,118
Land & Building 874,555 767,231
Furniture & Equipment 119,384 116,056
National Share Insurance Fund 180,459 156,956
Other Assets 104,163 129,622
TOTAL ASSETS $    26,397,327 $    26,412,127


LIABILITIES AND EQUITY    
Accounts Payable $            4,883 $            11,871
Dividends Payable 247,362 219,518
Other liabilities 528,262 405,097
Regular Shares 11,979,367 11,373,466
Share Drafts 2,149,711 2,100,805
Share Certificates 6,223,216 6,176,423
IRA Accounts 514,793 575,645
Regular Reserve 738,795 738,795
Undivided Earnings 5,014,938 4,810,507
TOTAL LIABILITY & EQUITY $    27,397,327 $    26,412,127


STATISTICAL INFORMATION    
Number of Members 6,185 6,303
Total Number of Loans 1,927 1,863
Delinquency Ratio .29% .16%
Capital Ratio 21.00% 21.00%
Return on Average Assets .77% .34%

BUDGET ANALYSIS    
Total Operating Income $      2,662,490 $      2,338,008
Total Operating Expenses 1,780,161 1,730,753
Net Income Before Dividends 882,329 607,255
Total Dividends Paid 674,897 519,947
NET INCOME $            207,432 $            87,308


SHARE ACCOUNT ANALYSIS    
Type    
Regular Shares 6,678 6,836
Share Draft Accounts 1,862 1,773
Share Certificates 156 212
IRA Accounts 84 90
TOTAL ACCOUNTS 8,780 8,911

LOAN ACCOUNT ANALYSIS    
New Auto Loans 212 229
Used Auto Loans 166 284
Unsecured Loans 1,223 1,085
Home Equity Loans 32 31
Share-Secured Loans 122 125
Business Loans 34 31
Overdraft Loans 68 73
Credit Card 158 159
Mortgage Loans 70 63
TOTAL LOANS 2,085 2,080



431 BEATTIES FORD ROAD | CHARLOTTE, NC 28216 | 704.375.5781

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