Middlebury National Corporation

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

Consolidated Balance Sheet (unaudited)

September 30,20202019
Assets
Cash & Due from Bank$8,814,644$10,490,120
Federal Reserve Bank Balance$64,502,550$4,135,071
Securities$95,908,791$76,077,169
Loans, Net$277,873,913$266,876,427
Bank Premises & Equipment, Net$10,522,160$10,534,798
Other Assets$17,805,356$15,812,359
Total Assets$475,427,414$383,925,944
Liabilities & Shareholders' Equity
Deposits$409,434,074$331,098,435
Securities Sold Under Repurchase Agreements$17,553,517$7,558,296
Other Borrowed Money$1,083,230$1,611,928
Other Liabilities$6,083,368$6,175,531
Total Liabilities$434,154,189$346,444,190
Shareholders' Equity
Common Stock & Related Surplus$1,400,000$1,400,000
Treasury Stock$(1,508,506)$(1,319,009)
Accumulated Other Comprehensive Income (Loss)$1,563,409$500,336
Retained Earnings$39,818,322$36,900,427
Total Shareholders' Equity$41,273,225$37,481,754
Total Liabilities & Shareholders' Equity$475,427,414$383,925,944
Per Share Book Value
862,950 & 868,546 shares outstanding		$47.83$43.15

 Consolidated Statements of Income (unaudited)

Nine Months Ended September 30,20202019
Total Interest Income$10,325,880$10,545,716
Total Interest Expense$601,282$729,696
Net Interest Income$9,724,598$9,816,020
Provision for Loan Losses$395,500$263,000
Net Interest Income After Provision for Loan Losses$9,329,098$9,553,020
Other Operating Income$3,207,527$2,249,971
Other Operating Expenses$8,926,716$8,383,273
Income Before Income Taxes$3,609,909$3,419,718
Income Tax Expense$503,482$553,659
Net Income$3,106,427$2,866,059
Earnings Per Share$3.60$3.30