Middlebury National Corporation

Middlebury National Corporation is the holding company of National Bank of Middlebury.

Consolidated Balance Sheet (unaudited)

March 31,20212020
Assets
Cash & Due from Bank$8,552,793$8,181,678
Federal Reserve Bank Balance$75,316,191$25,539,212
Securities$127,938,942$81,814,630
Loans, Net$278,289,126$258,413,899
Bank Premises & Equipment, Net$10,419,498$10,478,972
Other Assets$16,394,901$17,260,833
Total Assets$516,911,451$401,689,224
Liabilities & Shareholders' Equity
Deposits$448,508,013$345,527,087
Securities Sold Under Repurchase Agreements$19,788,887$8,232,473
Other Borrowed Money$1,063,805$1,592,619
Other Liabilities$6,104,183$6,756,462
Total Liabilities$475,464,888$362,108,641
Shareholders' Equity
Common Stock & Related Surplus$1,400,000$1,400,000
Treasury Stock$(1,520,195)$(1,500,599)
Accumulated Other Comprehensive Income (Loss)$162,857$1,786,680
Retained Earnings$41,403,901$37,894,502
Total Shareholders' Equity$41,446,563$39,580,583
Total Liabilities & Shareholders' Equity$516,911,451$401,689,224
Per Share Book Value
862,619 & 863,200 shares outstanding		$48.05$45.85

 Consolidated Statements of Income (unaudited)

Three Months Ended March 31,20212020
Total Interest Income$3,383,859$3,465,165
Total Interest Expense$67,151$291,539
Net Interest Income$3,316,708$3,173,626
Provision for Loan Losses$(25,000)$140,000
Net Interest Income After Provision for Loan Losses$3,341,708$3,033,626
Other Operating Income$1,121,965$750,270
Other Operating Expenses$3,112,161$2,959,900
Income Before Income Taxes$1,351,512$823,996
Income Tax Expense$196,081$90,267
Net Income$1,155,431$733,729
Earnings Per Share$1.34$0.85