Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INTEREST ON LOANS

  total $132,804,876 · related or exempt $132,804,876

• 2b · Program service revenue: MISC OPERATING INCOME

  total $24,366,420 · related or exempt $24,366,420

• 2c · Program service revenue: FEE INCOME

  total $12,082,847 · related or exempt $11,586,636 · unrelated business $496,211

• 3 · Investment income

  total $22,179,673 · excluded $22,179,673

• 7a · Gross sales of assets other than inventory

  securities $28,628,079 · other assets $42

• 7b · Less cost or other basis and sales expenses

  securities $29,500,251 · other assets $23,398

• 7c · Gain or loss

  securities -$872,172 · other assets -$23,356

• 7d · Net gain or loss

  total -$895,528 · excluded -$895,528

• 11a · Other revenue: OTHER NON-INTEREST INCOME(EXPENSE

  total $689,437 · related or exempt $689,437

• 11b · Other revenue: DERIVATIVE LOSS

  total -$627,130 · related or exempt -$627,130

• 11e · Other revenue, total

  $62,307

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $20,517,213

• 5 · Compensation of officers, directors and key employees

  total $4,092,874

• 7 · Other salaries and wages

  total $37,512,588

• 8 · Pension plan contributions

  total $3,209,542

• 9 · Other employee benefits

  total $7,929,192

• 10 · Payroll taxes

  total $3,224,802

• 11b · Fees: legal

  total $243,649

• 11c · Fees: accounting

  total $165,337

• 11g · Fees: other

  total $6,634,568

• 12 · Advertising and promotion

  total $4,118,782

• 13 · Office expenses

  total $11,970,773

• 16 · Occupancy

  total $4,683,701

• 19 · Conferences, conventions and meetings

  total $858,659

• 20 · Interest

  total $12,642,377

• 22 · Depreciation, depletion and amortization

  total $4,330,814

• 24a · Other expenses: PROVISION FOR LOAN LOSS

  total $6,924,772

• 24b · Other expenses: LOAN SERVICING

  total $3,362,511

• 24c · Other expenses: MISCELLANEOUS

  total $1,626,382

• 24d · Other expenses: SUPERVISION EXPENSES

  total $77,525

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $26,246,123 · end of year $67,776,604

• 2 · Savings and temporary cash investments

  beginning of year $146,188,578 · end of year $32,313,617

• 4 · Accounts receivable

  beginning of year $1,507,370 · end of year $4,067,229

• 5 · Loans and receivables from officers and key people

  end of year $24,850,297

• 7 · Other notes and loans receivable

  beginning of year $2,817,263,759 · end of year $3,616,146,673

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,442,358 · end of year $3,939,356

• 10a · Land, buildings and equipment: cost or other basis

  $91,529,782

• 10b · Land, buildings and equipment: accumulated depreciation

  $40,823,053

• 10c · Land, buildings and equipment, net

  beginning of year $53,661,756 · end of year $50,706,729

• 12 · Investments: other securities

  beginning of year $8,341,300 · end of year $24,626,900

• 13 · Investments: program-related

  beginning of year $764,454,147 · end of year $651,006,666

• 14 · Intangible assets

  beginning of year $22,082,353 · end of year $22,040,504

• 15 · Other assets

  beginning of year $136,579,376 · end of year $117,193,547

• 17 · Accounts payable and accrued expenses

  beginning of year $55,652,272 · end of year $64,020,283

• 23 · Secured mortgages and notes payable

  beginning of year $42,500,000 · end of year $378,000,000

• 25 · Other liabilities

  beginning of year $3,466,536,250 · end of year $3,785,243,583

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $415,078,598 · end of year $387,404,256

The filer's explanations (Part III)

PART I, LINE 1A

OCCASIONALLY BOARD OR EXECUTIVE MEMBERS TRAVEL FIRST CLASS. SPOUSES/SIGNIFICANT OTHERS ALSO TRAVEL FOR STRATEGIC PLANNING TRIPS. SPOUSES/SIGNIFICANT OTHERS WERE 1099'ED IF OVER $600 WAS PAID FOR TRAVEL. PRESIDENT/CEO HAS A SOCIAL CLUB MEMBERSHIP.

PART I, LINE 1B

TRAVEL (INCLUDING FIRST CLASS RESERVATIONS) REQUIRED FOR TRUSTONE EMPLOYEES TO CONDUCT BUSINESS IS NOT INCLUDED ON W-2'S. 1099'S ARE ISSUED TO SPOUSES/SIGNIFICANT OTHERS FOR TRAVEL OVER $600. SOCIAL CLUB MEMBERSHIP IS USED FOR BUSINESS PURPOSES.

PART I, LINE 3

CEO SALARY IS DETERMINED BY THE BOARD OF DIRECTORS AND BENCHMARKED TO CURRENT COMPENSATION SALARY SURVEY INFORMATION BASED UPON PERFORMANCE AND TENURE.

PART I, LINE 4B

NAME: STEVEN STEEN, DESCRIPTION: 457F PAYMENT, CURRENT YEAR AMOUNT: $5,644.

PART I, LINE 6

EXECUTIVES HAVE PERFORMANCE INCENTIVE PLANS THAT INCLUDE INCENTIVES BASED ON ORGANIZATIONAL AND DIVISIONAL NET INCOME.