Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INTEREST ON LOANS

  total $179,995,526 · related or exempt $179,995,526

• 2b · Program service revenue: MISC OPERATING INCOME

  total $19,782,531 · related or exempt $19,782,531

• 2c · Program service revenue: FEE INCOME

  total $12,440,115 · related or exempt $11,840,925 · unrelated business $599,190

• 3 · Investment income

  total $40,643,558 · excluded $40,643,558

• 7a · Gross sales of assets other than inventory

  securities $11,761,170 · other assets $10,652,254

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

  securities $13,699,510 · other assets $6,518,107

• 7c · Gain or loss

  securities -$1,938,340 · other assets $4,134,147

• 7d · Net gain or loss

  total $2,195,807 · excluded $2,195,807

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

  total $181,132 · related or exempt $181,132

• 11e · Other revenue, total

  $181,132

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $63,528,556

• 5 · Compensation of officers, directors and key employees

  total $6,518,472

• 7 · Other salaries and wages

  total $35,939,290

• 8 · Pension plan contributions

  total $2,934,351

• 9 · Other employee benefits

  total $8,843,665

• 10 · Payroll taxes

  total $2,928,572

• 11b · Fees: legal

  total $391,256

• 11c · Fees: accounting

  total $139,231

• 11g · Fees: other

  total $8,218,664

• 12 · Advertising and promotion

  total $4,584,145

• 13 · Office expenses

  total $13,012,517

• 16 · Occupancy

  total $4,523,767

• 17 · Travel

  total $1,053,246

• 20 · Interest

  total $33,822,383

• 22 · Depreciation, depletion and amortization

  total $4,430,751

• 24a · Other expenses: PROVISION FOR CREDIT LO

  total $7,699,350

• 24b · Other expenses: LOAN SERVICING

  total $3,314,242

• 24c · Other expenses: MISCELLANEOUS

  total $1,828,074

• 24d · Other expenses: SUPERVISION EXPENSES

  total $120,420

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $67,776,604 · end of year $69,468,656

• 2 · Savings and temporary cash investments

  beginning of year $32,313,617 · end of year $144,730,550

• 4 · Accounts receivable

  beginning of year $4,067,229 · end of year $3,073,133

• 5 · Loans and receivables from officers and key people

  beginning of year $24,850,297 · end of year $41,071,265

• 7 · Other notes and loans receivable

  beginning of year $3,616,146,673 · end of year $3,749,787,410

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,939,356 · end of year $3,421,699

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

  $97,356,051

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

  $45,253,498

• 10c · Land, buildings and equipment, net

  beginning of year $50,706,729 · end of year $52,102,553

• 12 · Investments: other securities

  beginning of year $24,626,900 · end of year $29,345,400

• 13 · Investments: program-related

  beginning of year $651,006,666 · end of year $763,735,229

• 14 · Intangible assets

  beginning of year $22,040,504 · end of year $22,007,703

• 15 · Other assets

  beginning of year $117,193,547 · end of year $124,403,304

• 17 · Accounts payable and accrued expenses

  beginning of year $64,020,283 · end of year $54,433,070

• 21 · Escrow or custodial account liability

  end of year $11,994,181

• 23 · Secured mortgages and notes payable

  beginning of year $378,000,000 · end of year $549,000,000

• 25 · Other liabilities

  beginning of year $3,785,243,583 · end of year $3,929,075,923

• 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 $387,404,256 · end of year $458,643,728

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 INFORMATION BASED UPON PERFORMANCE AND TENURE.

PART I, LINE 4B

DALE TURNER - PARTICIPATED IN 457(B) PLAN - NO DISTRIBUTIONS IN 2023 GARY JETER - PARTICIPATED IN 457(B) PLAN - NO DISTRIBUTIONS IN 2023 STEVEN STEEN - PARTICIPATED IN 457(B) PLAN - NO DISTRIBUTIONS IN 2023 DANIEL ZACZKOWSKI - PARTICIPATED IN 457(B) PLAN - NO DISTRIBUTIONS IN 2023 PHILIP YOUNG - PARTICIPATED IN 457(B) PLAN - NO DISTRIBUTIONS IN 2023 NATHAN GRUNZKE - PARTICIPATED IN 457(B) PLAN - NO DISTRIBUTIONS IN 2023