 |
 |
 |
 |
|
 |
|
 |
| 1ST CONSTITUTION BANCORP | ||||
| CONSOLIDATED BALANCE SHEETS | ||||
| December 31, 2007 and 2006 | ||||
| ASSETS | 2007 | 2006 | ||
| CASH AND DUE FROM BANKS | $7,517,158 | $10,336,334 | ||
| FEDERAL FUNDS SOLD/SHORT TERM INVESTMENTS | 30,944 | 25,478 | ||
| Total cash and cash equivalents | 7,548,102 | 10,361,812 | ||
| SECURITIES | ||||
| Available for sale, at fair value | 75,192,137 | 70,421,328 | ||
| Held to maturity (fair value of $23,411,269 and $19,164,679 | ||||
| in 2007 and 2006, respectively) | 23,512,346 | 19,254,476 | ||
| Total securities | 98,704,483 | 89,675,804 | ||
| LOANS HELD FOR SALE | 10,322,005 | 13,608,942 | ||
| LOANS | 294,760,718 | 265,142,313 | ||
| Less- Allowance for loan losses | (3,348,080) | (3,228,360) | ||
| Net loans | 291,412,638 | 261,913,953 | ||
| PREMISES AND EQUIPMENT, net | 2,760,203 | 3,033,618 | ||
| ACCRUED INTEREST RECEIVABLE | 2,495,732 | 2,235,671 | ||
| BANK-OWNED LIFE INSURANCE | 9,545,009 | 9,179,408 | ||
| OTHER REAL ESTATE OWNED | 2,960,727 | - | ||
| OTHER ASSETS | 3,402,640 | 2,921,496 | ||
| Total Assets | $429,151,539 | $392,930,704 | ||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
| LIABILITIES: | ||||
| Deposits | ||||
| Non-interest bearing | $59,055,803 | $64,305,445 | ||
| Interest bearing | 270,276,565 | 248,418,977 | ||
| Total deposits | 329,332,368 | 312,724,422 | ||
| OTHER BORROWINGS | 35,600,000 | 17,200,000 | ||
| REDEEMABLE SUBORDINATED DEBENTURES | 18,557,000 | 23,712,000 | ||
| ACCRUED INTEREST PAYABLE | 1,992,187 | 1,957,574 | ||
| ACCRUED EXPENSES AND OTHER LIABILITIES | 2,696,667 | 2,389,663 | ||
| Total liabilities | 388,178,222 | 357,983,659 | ||
| COMMITMENTS AND CONTINGENCIES | ||||
| SHAREHOLDERS' EQUITY | ||||
| Common Stock, no par value; 30,000,000 | ||||
| shares authorized; 3,993,905 and 3,967,431 shares issued | ||||
| and 3,992,715 and 3,967,222 shares outstanding | ||||
| as of December 31, 2007 and 2006, respectively | 32,514,936 | 28,886,105 | ||
| Retained earnings | 9,009,955 | 7,010,211 | ||
| Treasury Stock, at cost, 1,190 shares and 209 shares | ||||
| at December 31, 2007 and 2006, respectively | (18,388) | (3,545) | ||
| Accumulated other comprehensive (loss) | (533,186) | (945,726) | ||
| Total shareholders' equity | 40,973,317 | 34,947,045 | ||
| Total liabilities and shareholders' equity | $429,151,539 | $392,930,704 | ||
 |
|
 |
 |
|
 |
 |
 |
|
 |
|
 |
On October 3, 2008, FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2009
Equal Opportunity Housing Lender
Equal Housing Lenders. 1st Constitution Bank is a member FDIC. © 2000 1st Constitution Bancorp. All Rights Reserved.
--------------------------------------------------------------------------------
IMPORTANT INFORMATION ABOUT PROCEDURES
FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal Law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means to you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.