Financial Review
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Balance Sheet ($ millions)
Banks in the Region 2005
Assets
Reserves
7.25%
5.78%
6.22%
12,184
5.61%
Cash items in process of collection
3.00%
2.10%
1.88%
6,513
3.00%
Deposits at other banks
2.00%
1.11%
2.00%
4,242
1.95%
Securities
U.S. Government and Agency
16.75%
2,243
20.00%
1,694
18.89%
40,020
18.43%
State and Local Government
6.00%
6.00%
6.00%
13,026
6.00%
and other Securities
Loans
Commercial and Industrial
16.00%
1,795
16.01%
1,436
16.01%
34,736
16.00%
Real Estate
22.00%
2,467
22.00%
1,974
22.01%
47,762
22.00%
Consumer
15.00%
1,682
15.00%
1,346
15.01%
32,565
15.00%
Inter-bank
2.83%
2.84%
2.83%
6,143
2.83%
Other
2.17%
2.17%
2.16%
4,712
2.17%
Other Assets
7.00%
7.00%
7.00%
15,197
7.00%
Total Assets
12309
100.00%
11,214
100.00%
8,970
100.00%
217,100
Liabilities
Checkable Deposits
2,954
24.00%
2,691
24.00%
2,152
23.99%
52,104
24.00%
Nontransaction Deposits
Savings Deposits
2,585
21.00%
1,855
16.54%
1,884
21.00%
45,591
21.00%
Small-denomination time Deposits
1,723
14.00%
1,570
14.00%
1,256
14.00%
30,394
14.00%
Large-denomination time Deposits
1,354
11.00%
1,234
11.00%
11.00%
23,881
11.00%
Borrowings
2,954
24.00%
2,691
24.00%
2,153
24.00%
41,104
18.93%
Bank Capital
6.00%
1,173
10.46%
6.00%
24,026
11.07%
Total Liabilities
12,309
100.00%
11,214
100.00%
8,970
100.00%
217,100
100.00%
Income Statement ($ in millions)
Banks in the Region 2005
Operating Income
Interest on Loans
76.58%
75.22%
76.56%
12,671
79.54%
Interest on Securities
16.84%
18.90%
16.84%
2,347
14.73%
Other Interest
6.58%
5.88%
6.60%
5.73%
Interest Income
100.00%
100.00%
100.00%
15,931
100.00%
Service charges on Deposit
Accounts
62.05%
68.88%
70.98%
7,041
64.44%
Other Noninterest Income
37.95%
31.12%
29.02%
3,885
35.56%
Noninterest Income
100.00%
100.00%
100.00%
10,926
100.00%
Total Operating Income
1,433
100.00%
1,342
100.00%
100.00%
26,857
100.00%
Operating Expenses
Interest Expenses
Interest on Deposits
24.11%
33.42%
32.69%
9,264
38.31%
Interest on Fed Fund and Repos
8.25%
2.58%
2.86%
2.08%
Other
4.84%
4.66%
5.14%
3.61%
Noninterest Expenses
Salaries and Employee Benefits
24.35%
22.61%
34.97%
4,998
20.67%
Premises and Equipment
14.12%
13.47%
3.43%
3,139
12.98%
Other
13.72%
13.13%
10.97%
3,047
12.60%
Provisions for Loan Losses
10.63%
10.14%
9.94%
2,355
9.74%
Total Operating Expenses
1,261
100.00%
1,203
100.00%
100.00%
24,179
100.00%
Net Operating Income
2,678
Gains (losses) on Securities
Extraordinary Items, net
Income Taxes
Net Income
1,985
Banks in our Regional Area, 2005
Net Interest Margin
2.47%
2.76%
2.61%
2.44%
Return on Assets
0.80%
0.918%
1.11%
0.914%
Return on Equity
13.38%
8.78%
18.54%
8.26%
Equity Multiplier
16.673
16.65
9.036
Historical Summary
Volaitis Banking is a family owned and run institution and has been operating in the New England area for 15 years and has been showing profits for all of them. Our president Jessica Volaitis has implemented many new programs to increase profits. We are a preferred banking institution for personal and business banking needs. We help young couples finance their first homes and others second and third vacation homes. This area is a hotspot for vacationers from Boston, New York City and the surrounding areas. We have 13 full branch locations and ten drive through
locations. We also have thousands of automatic teller machines. This generates great profits for us from tourists holding accounts from other banks. The tourist seasons are busiest for us when there are people traveling to the area for ski vacations and fall foliage. We have ski resorts that make large deposits during