Touchmark Bancshares : Quarterly Financial Report Unaudited

TOUCHMARK BANCSHARES, INC.

AND SUBSIDIARY

Consolidated Balance Sheets

June 30, 2022 and December 31, 2021

(Unaudited)

ASSETS		2022			2021
Cash and due from banks	$	1,327,815	$	1,212,563
Federal funds sold		5,175,000			5,175,000
Interest-bearing deposits with other banks		23,414,594			103,994,062
Investment securities		16,623,005			12,968,752
Restricted stock		1,495,050			1,498,450
Loans, net		268,510,093			290,694,664
Premises and equipment, net		1,501,441			1,309,269
Other assets		5,066,519			4,876,680
Total assets	$	323,113,517		$	421,729,440
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits:
Non-interest bearing demand	$	24,960,528	$	30,642,803
Interest bearing		231,751,703			324,339,564
Total deposits		256,712,231			354,982,367
Federal Home Loan Bank advances		-			-
Other liabilities		1,475,957			3,568,908
Total liabilities		258,188,188			358,551,275
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		18,740,625			16,171,492
Accumulated other comprehensive income (loss)		(740,706)			81,263
Total shareholders' equity		64,925,329			63,178,165
Total liabilities and shareholders' equity	$	323,113,517	$	421,729,440

TOUCHMARK BANCSHARES, INC.

AND SUBSIDIARY

Condensed Consolidated Statements of Income For the Six Months Ended June 30, 2022 and 2021 (Unaudited)

		2022			2021
Net interest income	$	6,210,903	$	6,698,331
Provision for loan losses		336,758			250,000
Net interest income after provision for loan losses		5,874,145			6,448,331
Total noninterest income		1,185,014			1,543,038
Total noninterest expense		3,673,023			3,649,002
Net income before taxes		3,386,136			4,342,367
Income tax expense		817,000			1,034,000
Net income	$	2,569,136		$	3,308,367
Key Ratios
Basic Earnings Per Share	$	0.57	$	0.74
Book Value Per Share		14.51			13.52
Return on Average Assets		1.38%			1.57%
Return on Average Equity		8.02%			11.23%
Efficiency Ratio		49.66%			44.28%