
FINANCIAL STATEMENTS
Consolidated Reports of Financial Condition
Dollar Amounts in Thousands
| As of December 31, | |||||
|
Assets |
2009 | 2008 | |||
| Cash and balances due from banks | $ 22,595 | $ 15,315 | |||
Securities - Available-for-sale |
1,183 | 1,181 | |||
| Federal funds sold | - | - | |||
| Loans receivable | 236,320 | 242,639 | |||
| Less: Allowance for loan losses | 1,977 | 1,925 | |||
| ________ | ________ | ||||
| Loans receivable, net | 234,343 | 240,714 | |||
| Premises and fixed assets | 7,696 | 5,326 | |||
| Other real estate owned | - | - | |||
| Intangible assets | - | - | |||
| Other assets | 9,469 | 7,947 | |||
| ________ | ________ | ||||
| Total assets | $275,286 | $270,483 | |||
| ========== | ========== | ||||
|
Liabilities and Equity Capital |
|||||
| Interest-bearing deposits | $ 170,534 | $ 160,730 | |||
| Noninterest-bearing deposits | 34,595 | 31,150 | |||
| Other borrowed money | 30,809 | 42,137 | |||
| Other liabilities | 6,719 | 4,714 | |||
| ________ | ________ | ||||
| Total liabilities | 242,657 | 238,731 | |||
| Minority interest in consolidated subsidiaries | 275 | 290 | |||
| Equity capital | 32,354 | 31,462 | |||
| ________ | ________ | ||||
| Total Liabilities, Minority Interest and Equity Capital | $275,286 | $270,483 | |||
| ========== | ========== | ||||
President's Message
Despite extraordinary market conditions and
Essex Savings Bank is proof that traditional banking
Mr. John W. Rafal, President of
We are pleased to report the election of Geoffrey L.
One can argue that now is the perfect time to seek
Sincerely,
Gregory R. Shook
President & Chief Executive Officer
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