Touchmark Bancshares : 2021 Q2 Financial Summary

TOUCHMARK BANCSHARES, INC.

AND SUBSIDIARY

Consolidated Balance Sheets

June 30, 2021 and December 31, 2020

(Unaudited)

ASSETS		2021			2020
Cash and due from banks	$	1,456,814	$	1,198,652
Federal funds sold		5,175,000			5,125,000
Interest-bearing deposits with other banks		45,977,400			34,254,852
Investment securities		15,535,476			17,552,604
Restricted stock		1,498,350			2,033,450
Loans, net		337,494,399			360,510,234
Premises and equipment, net		1,335,309			1,369,968
Other assets		4,795,629			5,662,491
Total assets	$	413,268,377		$	427,707,251
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Non-interest bearing demand	$	23,751,837	$	26,029,731
Interest bearing		327,256,815			331,919,828
Total deposits		351,008,652			357,949,559
Federal Home Loan Bank advances		-			9,000,000
Other liabilities		1,737,202			3,443,702
Total liabilities		352,745,854			370,393,261
Shareholders' Equity:
Preferred stock, no par value, 10,000,000 shares
authorized, none issued		-			-
Common stock, $.01 par value, 4,475,891 shares issued		44,759			44,759
Additional paid-in capital		46,880,651			46,880,651
Retained earnings		13,398,253			10,089,885
Accumulated other comprehensive income		198,860			298,695
Total shareholders' equity		60,522,523			57,313,990
Total liabilities and shareholders' equity	$	413,268,377	$	427,707,251

TOUCHMARK BANCSHARES, INC.

AND SUBSIDIARY

Condensed Consolidated Statements of Income For the Six Months Ended June 30, 2021 and 2020 (Unaudited)

			2021			2020
Net interest income	$	6,698,331	$	5,877,532
Provision for loan losses		250,000			1,350,500
Net interest income after provision for loan losses			6,448,331			4,527,032
Total noninterest income		1,543,038			1,508,844
Total noninterest expense			3,649,002			4,755,979
Net income before taxes		4,342,367			1,279,897
Income tax expense		1,034,000			297,000
Net income		$	3,308,367		$	982,897
Key Ratios
Basic Earnings Per Share	$	0.74	$	0.22
Book Value Per Share		13.52			12.34
Return on Average Assets		1.57%			0.45%
Return on Average Equity		11.23%			3.60%
Efficiency Ratio		44.28%			64.39%