Exhibit 99.2
PSB BANCSHARES, INC. |
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Unaudited Condensed Consolidated Statement of Financial Condition |
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As of September 30, 2018 |
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(in thousands except share data) |
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|
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|
|
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| September 30, 2018 |
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Assets |
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|
|
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Cash and due from banks |
| $ | 19,108 |
|
Federal funds sold |
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| 3,673 |
|
Cash and cash equivalents |
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| 22,781 |
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|
|
|
|
|
Certificates of deposit in banks |
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| 3,449 |
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Securities available-for-sale |
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| 101,644 |
|
Loans, net of unearned income |
|
| 56,391 |
|
Less allowance for loan losses |
|
| (1,011 | ) |
Net loans |
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| 55,380 |
|
Premises and equipment, net |
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| 1,541 |
|
Accrued interest receivable |
|
| 865 |
|
Deferred income taxes |
|
| 122 |
|
Other assets |
|
| 599 |
|
Total assets |
| $ | 186,381 |
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Liabilities and Shareholders' Equity |
|
|
|
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Noninterest-bearing deposits |
| $ | 107,312 |
|
Interest-bearing deposits |
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| 56,609 |
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Total deposits |
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| 163,921 |
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Accrued interest payable and other liabilities |
|
| 974 |
|
Total liabilities |
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| 164,895 |
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Stockholders' Equity: |
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|
|
|
Common stock |
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| 4 |
|
Additional paid in capital |
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| 6,718 |
|
Retained earnings |
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| 17,313 |
|
Accumulated other comprehensive loss |
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| (1,749 | ) |
Treasury stock |
|
| (800 | ) |
Total stockholders' equity |
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| 21,486 |
|
Total liabilities and stockholders' equity |
| $ | 186,381 |
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PSB BANCSHARES, INC. |
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Unaudited Condensed Consolidated Statement of Income |
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For the nine months ended September 30, 2018 |
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(in thousands except per share data) |
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| September 30, 2018 |
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Interest income: |
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|
|
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Loans, including fees |
| $ | 2,574 |
|
Taxable securities |
|
| 1,171 |
|
Nontaxable securities |
|
| 439 |
|
Federal funds sold |
|
| 48 |
|
Other interest income |
|
| 54 |
|
Total interest income |
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| 4,286 |
|
Interest expense: |
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|
|
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Deposits |
|
| 348 |
|
Total interest expense |
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| 348 |
|
Net interest income |
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| 3,938 |
|
Provision for loan losses |
|
| 14 |
|
Net interest income after provision for loan losses |
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| 3,924 |
|
Noninterest income: |
|
|
|
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Service charges and fees |
|
| 812 |
|
Other noninterest income |
|
| 213 |
|
Total noninterest income |
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| 1,025 |
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Noninterest expense: |
|
|
|
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Salaries and employee benefits |
|
| 2,027 |
|
Occupancy expenses |
|
| 169 |
|
Equipment rentals, depreciation, and maintenance |
|
| 74 |
|
Telephone and communications |
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| 54 |
|
Advertising and business development |
|
| 34 |
|
Data processing |
|
| 391 |
|
Federal deposit insurance and other regulatory assessments |
|
| 56 |
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Legal and other professional services |
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| 453 |
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Other operating expense |
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| 419 |
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Total noninterest expense |
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| 3,677 |
|
Income before income taxes |
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| 1,272 |
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Provision for income taxes |
|
| 77 |
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Net income |
| $ | 1,195 |
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|
|
|
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Basic net earnings per common share |
| $ | 0.32 |
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Diluted net earnings per common share |
| $ | 0.32 |
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Dividends per common share |
| $ | 0.16 |
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