1
WINDSOR LOCKS COMMUNITY BANK, FSL
CONDENSED STATEMENTS OF FINANCIAL CONDITION
SEPTEMBER 30, 2003 AND 2002
(IN THOUSANDS, UNAUDITED)
2003 2002
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ASSETS:
Cash and cash equivalents ............................... $ 4,648 $ 3,089
Securities .............................................. 15,719 15,334
Loans, net .............................................. 16,472 17,777
Accrued interest receivable ............................. 178 218
Premises and equipment, net ............................. 416 403
Other assets ............................................ 304 258
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Total assets ..................................... $ 37,737 $ 37,079
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LIABILITIES AND CAPITAL ACCOUNTS:
Liabilities:
Deposits ............................................. $ 35,142 $ 34,417
Advance payments by borrowers for taxes and insurance 135 144
Other liabilities..................................... 142 255
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Total liabilities ....................... 35,419 34,816
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Capital accounts:
Retained earnings ................................. 2,203 2,064
Accumulated other comprehensive income............. 115 199
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Total capital accounts.................. 2,318 2,263
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Total liabilities and capital accounts.. $ 37,737 $ 37,079
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2
WINDSOR LOCKS COMMUNITY BANK, FSL
STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2003 AND 2002
(IN THOUSANDS, UNAUDITED)
2003 2002
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Interest and dividend income:
Interest and fees on loans............................. $ 297 $ 356
Investment and mortgage-backed
securities.......................................... 133 176
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Total interest and dividend income............. 430 532
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Interest expense:
Deposits and advanced payments by
borrowers for taxes and insurance................... 123 187
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Total interest expense......................... 123 187
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Net interest and dividend income....................... 307 345
Provision for loan losses................................. -- --
Net interest and dividend income ---------- ----------
after provision for loan losses..................... 307 345
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Noninterest income:
Service charges on deposit accounts.................... 21 23
Other income (loss).................................... 1 2
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Total noninterest income....................... 22 25
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Noninterest expense:
Compensation and benefits.............................. 165 160
Office occupancy and equipment......................... 64 62
Advertising and promotion.............................. 8 10
Professional fees...................................... 3 3
Other expense.......................................... 28 48
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Total noninterest expense...................... 268 283
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Income before income tax expense............... 61 87
Income tax expense........................................ 26 32
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Net income.................. $ 35 $ 55
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