Legend Bancorp, Inc.
Statement of Condition
|
December 31, 2023 |
December 31, 2022 |
Cash & Due From Banks |
15,923,881 |
16,573,418 |
Federal Funds Sold |
31,500,000 |
10,250,000 |
Securities available for sale |
238,835,649 | 224,718,707 |
Securities held to maturity |
1,502,399 |
1,543,000 |
Corporate Bonds HTM |
7,500,000 |
7,500,000 |
Loans |
732,959,895 |
639,028,550 |
Reserve for Bad Debts |
(8,871,955) |
(9,466,786) |
Fixed Assets |
21,399,738 |
21,487,015 |
Bank-Owned Life Insurance |
25,634,408 |
24,980,407 |
Accrued Interest Income |
5,996,285 |
4,630,646 |
Other Assets | 38,219,586 |
43,323,022 |
Total Assets |
$1,110,599,886
|
$984,567,979 |
Demand Deposits - Non-Interest Bearing | 232,332,579 |
262,289,121 |
Interest Bearing Deposits | 701,227,711 |
612,447,848 |
Total Deposits | 933,560,290 | 874,736,969 |
Accrued expenses and other liabilities | 15,241,769 |
12,059,131 |
Federal Funds Purchased | 50,000,000 | - |
Trust Preferred securities | 10,310,000 | 10,310,000 |
Total Liabilities |
$1,009,112,059 |
$897,106,100 |
Common Stock |
1,109,062 |
1,109,062 |
Surplus |
23,472,089 |
23,472,089 |
Retained Earnings |
114,152,950 |
106,540,997 |
(Less: Treasury Stock) |
(8,972,330) |
(8,647,370) |
Net Unrealized Gains (Losses) on Available For Sale Securities |
(28,273,944) |
(35,012,899) |
Total Capital |
$101,487,827
|
$87,461,879 |