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| >Banking >Corporate Information >Financials |
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Condensed Balance Sheet |
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as at December 31 |
thousands of dollars |
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2009 |
2008 |
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Assets |
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Cash & securities |
348,456 | 320,063 |
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Mortgage & other loans |
639,569 | 893,510 |
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Other assets |
155,231 | 94,794 |
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TOTAL ASSETS |
1,143,256 | 1,308,367 |
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Liabilities |
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Deposits |
988,285 | 1,202,708 |
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Accounts payable & other liabilities |
42,519 | 14,139 |
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Deferred items |
14,396 | 8,178 |
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TOTAL |
1,045,200 | 1,225,025 |
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Shareholders' Equity |
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Share capital |
14,004 | 14,004 |
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Retained earnings |
84,052 | 69,338 |
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TOTAL |
98,056 | 83,342 |
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Total Liabilities and Equity |
1,143,256 |
1,308,367 |
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Total Administered Assets |
4,953,636 |
4,145,327 |
| Condensed Statement of Earnings | ||
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for the year ending December 31 |
thousands of dollars |
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2009 |
2008 |
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INCOME |
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Interest |
44,814 | 62,826 |
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Fees & other income |
41,029 | 21,139 |
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TOTAL INCOME |
85,843 | 83,965 |
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Expenses |
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Interest |
33,507 | 47,335 |
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General & administrative expenses |
30,088 | 22,440 |
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Provision for loan losses |
1,900 | 425 |
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TOTAL EXPENSES |
65,495 | 70,200 |
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Earnings before income taxes |
20,348 |
13,765 |
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Income Taxes |
5,635 |
4,482 |
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Net Earnings After Tax |
14,713 |
9,283 |
Prepared from audited financial statements.
Auditors
PricewaterhouseCoopers LLP
Chartered Accountants
