Middlebury National Corporation

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

Consolidated Balance Sheet (unaudited)

December 31,20222021
Assets
Cash & Due from Bank$7,593,795$8,103,407
Federal Reserve Bank Balance$5,913,423$55,291,329
Securities$180,889,628$179,899,163
Loans, Net$305,749,712$278,892,395
Bank Premises & Equipment, Net$11,058,381$10,121,888
Other Assets$18,926,090$17,429,059
Total Assets$530,131,029$549,737,241
Liabilities & Shareholders' Equity
Deposits$499,817,466$475,090,765
Securities Sold Under Repurchase Agreements$2,489,490 $25,331,211
Other Borrowed Money$995,297$1,034,734
Other Liabilities$1,233,237$6,096,175
Total Liabilities$504,535,490$507,552,885
Shareholders' Equity
Common Stock & Related Surplus$1,400,000$1,400,000
Treasury Stock$(1,586,625)$(1,586,887)
Accumulated Other Comprehensive Income
(Unrealized Gain or Loss)		$(19,434,679)$(662,587)
Retained Earnings$45,216,840$43,033,830
Total Shareholders' Equity$25,595,536$42,184,356
Total Liabilities & Shareholders' Equity$530,131,026$549,737,241
Per Share Book Value
860,839 & 860,829 shares outstanding		$29.73$49.00

 Consolidated Statements of Income (unaudited)

Twelve Months Ended December 31,20222021
Total Interest Income$14,668,309$13,591,481
Total Interest Expense$315,191$216,955
Net Interest Income$14,353,118$13,374,526
Provision for Loan Losses$(348,000)$37,500
Net Interest Income After Provision for Loan Losses$14,701,118$13,337,026
Other Operating Income$3,281,499$4,078,411
Other Operating Expenses$14,575,293$13,440,503
Income Before Income Taxes$3,407,324$3,974,934
Income Tax Expense$260,182$465,142
Net Income$3,147,142$3,509,792
Earnings Per Share$3.66$4.08