Middlebury National Corporation

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

Consolidated Balance Sheet (unaudited)

March 31,20222021
Assets
Cash & Due from Bank$7,235,448$8,552,793
Federal Reserve Bank Balance$26,589,749$75,316,191
Securities$191,756,242$127,938,942
Loans, Net$279,083,193$278,289,126
Bank Premises & Equipment, Net$10,360,712$10,419,498
Other Assets$17,685,147$16,394,901
Total Assets$532,710,491$516,911,451
Liabilities & Shareholders' Equity
Deposits$472,379,174$448,508,013
Securities Sold Under Repurchase Agreements$22,035,79519,788,887
Other Borrowed Money$1,024,655$1,063,805
Other Liabilities$3,344,600$6,104,183
Total Liabilities$498,784,224$475,464,888
Shareholders' Equity
Common Stock & Related Surplus$1,400,000$1,400,000
Treasury Stock$(1,586,887)$(1,520,195)
Accumulated Other Comprehensive Income
(Unrealized Gain or Loss)		$(9,318,054)$162,857
Retained Earnings$43,431,208$41,403,901
Total Shareholders' Equity$33,926,267$41,446,563
Total Liabilities & Shareholders' Equity$532,710,491$516,911,451
Per Share Book Value
860,829 & 862,619 shares outstanding		$39.41$48.05

 Consolidated Statements of Income (unaudited)

Three Months Ended March 31,20222021
Total Interest Income$3,273,360$3,383,859
Total Interest Expense$47,745$67,151
Net Interest Income$3,225,615$3,316,708
Provision for Loan Losses$(48,000)$(25,000)
Net Interest Income After Provision for Loan Losses$3,273,615$3,341,708
Other Operating Income$822,723$1,121,964
Other Operating Expenses$3,415,358$3,112,161
Income Before Income Taxes$680,980$1,351,511
Income Tax Expense$42,569$196,080
Net Income$638,411$1,155,431
Earnings Per Share$0.74$1.34