Exhibit 99.3
| ||||
PSB BANCSHARES, INC. |
| |||
Unaudited Condensed Consolidated Statement of Financial Condition |
| |||
As of September 30, 2017 |
| |||
(in thousands except share data) |
| |||
|
|
|
|
|
|
| September 30, 2017 |
| |
Assets |
|
|
|
|
Cash and due from banks |
| $ | 13,016 |
|
Federal funds sold |
|
| 4,095 |
|
Cash and cash equivalents |
|
| 17,111 |
|
|
|
|
|
|
Certificates of deposit in banks |
|
| 3,192 |
|
Securities available-for-sale |
|
| 100,241 |
|
Loans, net of unearned income |
|
| 55,486 |
|
Less allowance for loan losses |
|
| (1,101 | ) |
Net loans |
|
| 54,385 |
|
Premises and equipment, net |
|
| 1,648 |
|
Accrued interest receivable |
|
| 737 |
|
Other assets |
|
| 612 |
|
Total assets |
| $ | 177,926 |
|
Liabilities and Shareholders' Equity |
|
|
|
|
Noninterest-bearing deposits |
| $ | 99,173 |
|
Interest-bearing deposits |
|
| 54,965 |
|
Total deposits |
|
| 154,138 |
|
Accrued interest payable and other liabilities |
|
| 240 |
|
Total liabilities |
|
| 154,378 |
|
Stockholders' Equity: |
|
|
|
|
Common stock |
|
| 4 |
|
Additional paid in capital |
|
| 6,718 |
|
Retained earnings |
|
| 17,283 |
|
Accumulated other comprehensive income |
|
| 343 |
|
Treasury stock |
|
| (800 | ) |
Total stockholders' equity |
|
| 23,548 |
|
Total liabilities and stockholders' equity |
| $ | 177,926 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
PSB BANCSHARES, INC. |
| |||
Unaudited Condensed Consolidated Statement of Income |
| |||
For the nine months ended September 30, 2017 |
| |||
(in thousands except per share data) |
| |||
|
|
|
|
|
|
| September 30, 2017 |
| |
Interest income: |
|
|
|
|
Loans, including fees |
| $ | 2,458 |
|
Taxable securities |
|
| 919 |
|
Nontaxable securities |
|
| 469 |
|
Federal funds sold |
|
| 28 |
|
Other interest income |
|
| 48 |
|
Total interest income |
|
| 3,922 |
|
Interest expense: |
|
|
|
|
Deposits |
|
| 249 |
|
Total interest expense |
|
| 249 |
|
Net interest income |
|
| 3,673 |
|
Provision for loan losses |
|
| 14 |
|
Net interest income after provision for loan losses |
|
| 3,659 |
|
Noninterest income: |
|
|
|
|
Service charges and fees |
|
| 751 |
|
Net gain on sale of investment securities |
|
| 8 |
|
Other noninterest income |
|
| 81 |
|
Total noninterest income |
|
| 840 |
|
Noninterest expense: |
|
|
|
|
Salaries and employee benefits |
|
| 1,997 |
|
Occupancy expenses |
|
| 171 |
|
Equipment rentals, depreciation, and maintenance |
|
| 64 |
|
Telephone and communications |
|
| 53 |
|
Advertising and business development |
|
| 29 |
|
Data processing |
|
| 378 |
|
Federal deposit insurance and other regulatory assessments |
|
| 55 |
|
Legal and other professional services |
|
| 204 |
|
Other operating expense |
|
| 500 |
|
Total noninterest expense |
|
| 3,451 |
|
Income before income taxes |
|
| 1,048 |
|
Provision for income taxes |
|
| 54 |
|
Net income |
| $ | 994 |
|
|
|
|
|
|
Basic net earnings per common share |
| $ | 0.27 |
|
Diluted net earnings per common share |
| $ | 0.27 |
|
Dividends per common share |
| $ | 0.12 |
|
|
|
|
|
|