pab bankshares, inc. - SNL Financial

PAB BANKSHARES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2009 AND 2008
2009 2008
ASSETS
Cash and balances due from banks $ 16,641,978 $ 18,104,521
Interest-bearing deposits in other banks 169,732,493 118,244,771
Federal funds sold 103,825 1,054,719
Investment securities
111,541,113 176,613,411
Restricted equity securities 9,459,600 9,159,904
Loans
805,313,687 956,687,391
Allowance for loan losses (29,314,145) (19,373,625)
Net loans
775,999,542 937,313,766
Premises and equipment, net 18,609,472 19,984,288
Goodwill - 5,984,604
Cash value of bank-owned life insurance policies 12,874,651 12,302,586
Foreclosed assets 92,117,123 25,268,901
Other assets 24,864,778 26,071,460
Total assets $ 1,231,944,575 $ 1,350,102,931
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Noninterest-bearing demand $ 100,458,230 $ 91,114,337
Interest-bearing demand and savings 250,232,355 252,122,046
Time 694,524,617 780,466,875
Total deposits 1,045,215,202 1,123,703,258
Federal funds purchased and securities sold under agreements to repurchase 10,011,024 8,954,253
Advances from the Federal Home Loan Bank of Atlanta 90,139,501 109,703,917
Guaranteed preferred beneficial interests in debentures (trust preferred securities) 10,310,000 10,310,000
Other borrowings 20,000,000
-
Other liabilities 5,682,200 5,830,761
Total liabilities 1,181,357,927 1,258,502,189
Stockholders' equity:
Preferred stock, no par value; 1,500,000 shares authorized; no shares issued - -
Common stock, no par value; 98,500,000 shares authorized;
13,795,040 and 9,324,407 shares issued and outstanding 1,217,065 1,217,065
Additional paid-in capital 37,348,508 24,225,407
Retained earnings 11,295,000 62,467,000
Accumulated other comprehensive income 726,075 3,691,270
Total stockholders' equity 50,586,648 91,600,742
Total liabilities and stockholders' equity $ 1,231,944,575 $ 1,350,102,931
See accompanying notes to consolidated financial statements.
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