NORTHERN STATES FINANCIAL CORPORATION.. |
|
CONSOLIDATED BALANCE SHEETS |
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| ($ 000's) |
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| December 31, |
1998 |
1997 |
|
| .. |
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| ASSETS |
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| Cash and due from banks |
$ 15,176) |
$ 14,200) |
| Interest-bearing deposits in financial institutions - maturities
less than 90 days |
183) |
106) |
| Federal funds sold |
12,600) |
11,200) |
|
|
| Total cash and cash equivalents |
27,959) |
25,506) |
| Interest-bearing deposits in financial institutions - maturities
over 90 days |
100) |
100) |
| Securities available for sale |
200,861) |
180,672) |
| Loans |
246,209) |
242,224) |
| Less: Allowance for loan losses |
(5,433) |
(5,430) |
|
|
| Loans, net |
240,776) |
236,794) |
| Direct lease financing |
987) |
1,274) |
| Office buildings and equipment, net |
6,647) |
5,899) |
Other real estate owned, net of allowance for losses of
$552 and $544 |
2,497) |
2,555) |
| Accrued interest receivable |
4,408) |
4,308 |
| Other assets |
1,686) |
1,878) |
|
|
| Total assets |
$ 485,921) |
$ 458,986) |
|
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| LIABILITIES AND STOCKHOLDERS' EQUITY |
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| Liabilities |
|
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| Deposits |
|
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| Demand - noninterest bearing |
$ 44,075) |
$ 41,388) |
| NOW accounts |
39,180) |
36,455) |
| Money market accounts |
41,003) |
38,790) |
| Savings |
45,333) |
43,923) |
| Time, $100,000 and over |
98,338) |
93,469) |
| Time, under $100,000 |
87,827) |
93,925) |
|
|
| Total deposits |
355,756) |
347,950) |
| Securities sold under repurchase agreements and other
short-term borrowings |
47,990) |
38,504) |
| Federal Home Loan Bank term advance |
10,000) |
5,000) |
| Advances from borrowers for taxes and insurance |
992) |
1,166) |
| Accrued interest payable and other liabilities |
6,070) |
6,171) |
|
|
| Total liabilities |
420,808 |
398,791 |
| .. |
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| STOCKHOLDERS' EQUITY |
|
|
| Common stock |
1,781) |
1,779) |
| Additional paid-in capital |
11,336) |
11,222) |
| Retained earnings |
51,358) |
46,725) |
| Accumulated other comprehensive income, net |
638) |
469) |
|
|
| Total stockholders' equity |
65,113) |
60,195) |
|
|
| Total liabilities and stockholders' equity |
$ 485,921) |
$ 458,986) |
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| .. |
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| The accompanying notes are an integral
part of these consolidated financial statements. |
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NSFC
ANNUAL |
32 |
REPORT
1998 |
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