Condensed Annual Financial Statements
Phone: (423) 648-3413, Fax: (423) 698-2912, email: epbecu@epbecu.org
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Information based on Credit Union Board Reports. NCUA Regulatory Accounting Principles were used.
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| ASSETS: | 12/31/08 | 12/31/07 | 12/31/06 | 12/31/05 | 12/31/04 |
| Cash: | $1,742,238.20 | $1,447,759.29 | $1,818,320.69 | $1,808,087.92 | $1,723,730.26 |
| Investments: | 9,980,366.00 | 9,570,671.45 | 7,296,943.00 | 10,182,586.98 | 13,350,087.20 |
| Loans: | 13,465,189.52 | 13,700,619.41 | 12,572,008.22 | 10,940,424.78 | 10,243,610.09 |
| Loan Loss Allowance: | (146,790.65) | (114,625.50) | (71,257.54) | (56,784.84) | (52,807.36) |
| Other Assets: | 1,196,587.48 | 644,367.62 | 798,659.82 | 718,049.62 | 680,311.50 |
| Total Assets: | $26,237,590.55 | $25,248,792.27 | $22,414,674.19 | $23,592,364.46 | $25,944,931.69 |
| LIABILITIES: | |||||
| Notes & Payables: | $306,054.17 | $293,580.47 | $269,994.66 | $257,190.01 | $267,449.88 |
| Shares & Deposits: | 11,015,891.95 | 10,280,434.28 | 11,074,344.39 | 12,669,589.67 | 14,299,745.40 |
| Certificates: | 11,193,699.51 | 10,956,440.76 | 7,460,146.90 | 7,108,042.64 | 7,874,168.24 |
| Total Liabilities: | $22,431,763.57 | $21,530,455.51 | $18,804,485.95 | $20,024,822.32 | $22,431,363.52 |
| EQUITY: | |||||
| Reserves: | 620,000.00 | 620,000.00 | 620,000.00 | 620,000.00 | 620,000.00 |
| Unrealized Gains/(Losses): | (48,235.42) | 0.00 | 0.00 | 0.00 | 0.00 |
| Undivided Earnings: | 3,098,336.76 | 2,990,188.24 | 2,937,542.14 | 2,893,568.17 | 2,820,504.38 |
| Net Income (loss): | 135,725.64 | 108,148.52 | 52,646.10 | 43,973.97 | 73,063.79 |
| Total Equity: | $3,805,826.98 | $3,718,336.76 | $3,610,188.24 | $3,557,542.14 | $3,513,568.17 |
| Total Liabilities & Equity: | $26,237,590.55 | $25,248,792.27 | $22,414,674.19 | $23,592,364.46 | $25,944,931.69 |
| INTEREST INCOME: | 12/31/08 | 12/31/07 | 12/31/06 | 12/31/05 | 12/31/04 |
| Interest on Loans: | $ 954,275.11 | $ 887,819.63 | $ 736,971.26 | $ 636,081.55 | $ 649,735.36 |
| Loan Interest Rebate: | (0.00) | (0.00) | (0.00) | (31,008.07) | (31,917.08) |
| Investment Income: | 488,667.06 | 346,003.65 | 328,448.81 | 431,481.80 | 528,736.08 |
| Total Interest Income: | $1,442,942.17 | $1,233,823.28 | $1,065,420.07 | $1,036,555.28 | $1,146,554.36 |
| INTEREST EXPENSES: | |||||
| Dividend Expense: | $589,668.71 | $543,118.09 | $440,519.99 | $357,073.46 | $379,607.74 |
| Interest on Borrowed Funds: | 0.00 | 0.28 | 244.49 | 2,697.06 | 7.61 |
| Provision for Loan Losses: | 97,000.00 | 42,000.00 | 55,250.00 | 59,500.00 | 100,000.00 |
| Total Interest Expense: | $686,668.71 | $585,118.37 | $496,014.48 | $419,270.52 | $479,615.35 |
| Net Interest Income: | $756,273.46 | $648,704.91 | $569,405.59 | $617,284.76 | $666,939.01 |
| NON-INTEREST INCOME: | |||||
| Fee Income: | $49,351.56 | $56,340.47 | $48,383.02 | $37,141.97 | $33,032.21 |
| Other Non-operating Income: | $ 8,139.80 | $ 7,789.27 | $ 7,485.42 | $ 7,132.66 | $ 6,825.78 |
| Other Operating Income: | 40,211.73 | 83,546.11 | 68,847.56 | 43,175.15 | 26,233.91 |
| Total Non-Interest Income: | $ 97,703.09 | $147,675.85 | $124,716.00 | $ 87,449.78 | $ 66,091.90 |
| NON-INTEREST EXPENSE: | |||||
| Total Operating Expense: | $718,250.91 | $688,232.24 | $641,475.49 | $660,760.57 | $659,967.12 |
| RESERVE TRANSFERS: | |||||
| Reserve Transfer: | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Change to Undivided Earnings: | $135,725.64 | $108,148.52 | $ 52,646.10 | $ 43,973.97 | $ 73,063.79 |
| 12/31/08 | 12/31/07 | 12/31/06 | 12/31/05 | 12/31/04 | |
| Capital-to-Asset Ratio: | 14.67% | 15.01% | 16.35% | 15.19% | 13.61% |
| Net Worth Ratio: | 14.668% | 15.851% | 15.695% | 14.273% | 13.468% |
| State Reserve Ratio: | 5.695% | 5.536% | 5.725% | 6.186% | 6.568% |
| Return on Assets: | 0.52% | 0.43% | 0.24% | 0.19% | 0.28% |
| Total Members: | 2,317 | 2,306 | 2,333 | 2,336 | 2,327 |