Financial Statement
Sterling Bank and Trust, FSB
Statement of Financial Condition - (in 000s)
December 31, 2009 and December 31, 2008
| ASSETS |
Dec. 31, |
Dec. 31, |
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| Cash and due from financial institutions | $ | 38,851 | $ | 19,174 |
| Securities available for sale | 15,509 | 4,568 | ||
| Securities held to maturity | 53,866 | - | ||
| Federal Home Loan Bank Stock | 13,092 | 13,092 | ||
| Total loans net of allowance for loan losses | 563,366 | 578,286 | ||
| Premises and equipment, net | 3,551 | 4,398 | ||
| Accrued income and other assets | 59,134 | 57,141 | ||
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| TOTAL ASSETS | $ | 747,369 | $ | 676,659 |
| LIABILITIES |
Dec. 31, |
Dec. 31, |
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| Demand deposits (noninterest-bearing) | $ | 4,450 | 2,891 | |
| Interest-bearing deposits | 591,485 | 455,933 | ||
| Total deposits | 595,935 | 458,824 | ||
| Federal Home Loan Bank Borrowings | 65,140 | 128,243 | ||
| Principal, interest and escrow balances related to serviced mortgages | 703 | 828 | ||
| Accrued interest payable and other liabilities | 9,549 | 11,711 | ||
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| TOTAL LIABILITIES | 671,327 | 599,606 | ||
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| TOTAL SHAREHOLDERS' EQUITY | 76,042 | 77,053 | ||
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| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 747,369 | 676,659 | |