Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $1,790,589

• 2a · Program service revenue: INTEREST ON LOANS

  total $11,271,712 · related or exempt $11,271,712

• 2b · Program service revenue: INTERCHANGE INCOME

  total $2,249,910 · related or exempt $2,249,910

• 2c · Program service revenue: FEES AND CHARGES

  total $2,006,762 · related or exempt $2,006,762

• 2d · Program service revenue: OTHER INCOME

  total $300,898 · related or exempt $300,898

• 3 · Investment income

  total $3,852,300 · related or exempt $3,852,300

• 7a · Gross sales of assets other than inventory

  securities $12,928,907

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

  securities $12,789,509 · other assets $530

• 7c · Gain or loss

  securities $139,398 · other assets -$530

• 7d · Net gain or loss

  total $138,868 · excluded $138,868

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $7,500

• 5 · Compensation of officers, directors and key employees

  total $808,124

• 7 · Other salaries and wages

  total $3,837,039

• 8 · Pension plan contributions

  total $166,914

• 9 · Other employee benefits

  total $595,787

• 10 · Payroll taxes

  total $361,837

• 11b · Fees: legal

  total $17,572

• 11c · Fees: accounting

  total $66,743

• 11g · Fees: other

  total $438,182

• 12 · Advertising and promotion

  total $447,326

• 13 · Office expenses

  total $687,679

• 14 · Information technology

  total $1,249,343

• 16 · Occupancy

  total $653,907

• 19 · Conferences, conventions and meetings

  total $90,573

• 20 · Interest

  total $4,573,366

• 22 · Depreciation, depletion and amortization

  total $386,499

• 24a · Other expenses: LOAN EXPENSES

  total $1,075,667

• 24b · Other expenses: DEBIT CARD EXPENSES

  total $792,561

• 24c · Other expenses: PROVISION FOR LOAN LOSS

  total $542,745

• 24d · Other expenses: ATM EXPENSES

  total $278,305

• 24e · All other expenses

  total $140,220

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,112,918 · end of year $1,982,451

• 2 · Savings and temporary cash investments

  beginning of year $45,301,535 · end of year $41,994,138

• 5 · Loans and receivables from officers and key people

  beginning of year $836,773 · end of year $876,773

• 7 · Other notes and loans receivable

  beginning of year $223,922,787 · end of year $246,348,184

• 9 · Prepaid expenses and deferred charges

  beginning of year $941,104 · end of year $970,407

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

  $6,791,378

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

  $4,389,225

• 10c · Land, buildings and equipment, net

  beginning of year $2,711,001 · end of year $2,402,153

• 11 · Investments: publicly traded securities

  beginning of year $8,808,413 · end of year $154,040

• 12 · Investments: other securities

  beginning of year $176,780,575 · end of year $169,996,099

• 15 · Other assets

  beginning of year $5,881,960 · end of year $10,743,690

• 17 · Accounts payable and accrued expenses

  beginning of year $3,214,953 · end of year $2,507,202

• 25 · Other liabilities

  beginning of year $418,764,908 · end of year $423,386,736

• 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 $45,317,205 · end of year $49,573,997

The filer's explanations (Part III)

PART I, LINE 4B

CERTAIN OFFICERS PARTICIPATE IN A NON-QUALIFIED DEFERRED COMPENSATION PLAN. THEY ARE NOT VESTED IN THIS PLAN. THE CURRENT YEAR NON VESTED DEFERRAL IS INCLUDED IN SCHEDULE J, PART II, COLUMN C.