BRBW Brunswick Bancorp (PK)

Brunswick Bancorp (OTCBB:BRBW):

  FINANCIAL CONDITION AND RESULTS OF OPERATIONS   BRUNSWICK BANCORP AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET SEPTEMBER 30, 2012 (UNAUDITED)   ASSETS Cash and due from banks $ 38,559,749 Federal funds sold   -   Total cash and cash equivalents 38,559,749 Securities held to maturity 3,000,000 Securities available for sale 70,214 Loans receivable, net 95,639,751 Premises and equipment, net 1,174,241 Accrued interest receivable 382,173 Other real estate 7,855,525 Other assets   1,551,945   TOTAL ASSETS $ 148,233,598   LIABILITIES AND STOCKHOLDERS' EQUITY Deposits Non-interest bearing $ 30,008,787 Interest bearing   80,616,691   Total deposits 110,625,478 Accrued interest payable 264,999 Other liabilities   453,939  

TOTAL LIABILITIES

  111,344,416   STOCKHOLDERS' EQUITY Preferred stock-no stated value 10,000,000 shares authorized and no shares issued and outstanding at September 30, 2012. Common stock - no par value 10,000,000 shares authorized; 3,119,551 shares issued and outstanding at September 30, 2012. 6,239,102 Additional paid-in capital 1,944,611 Treasury stock at cost, 189,273 shares at September 30, 2012. (1,325,618 ) Retained earnings 30,548,587 Deferred stock compensation   (517,500 ) TOTAL STOCKHOLDERS' EQUITY   36,889,182   TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 148,233,598       BRUNSWICK BANCORP AND SUBSIDIARIES CONSOLIDATED STATEMENT OF INCOME (LOSS) QUARTER END SEPTEMBER 30, 2012 (UNAUDITED)   INTEREST INCOME Interest on loans $ 4,439,591 Interest on investments 16,726 Interest on balances with banks   78,532   TOTAL INTEREST INCOME   4,534,849     INTEREST EXPENSE Interest on deposits 416,353 Interest on borrowed funds   -   Total interest expense   416,353   NET INTEREST INCOME 4,118,496 Provision for loan losses   (37,717 )   NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES   4,156,213     OTHER INCOME Service fees 429,244 Other income   303,750   TOTAL OTHER INCOME   732,994     Realized loss on securities -   OTHER EXPENSES Salaries and employee benefits 2,057,665 Occupancy expenses 899,072 Equipment expenses 124,789 Other expenses   1,601,900   TOTAL OTHER EXPENSES   4,683,426     INCOME (LOSS) BEFORE INCOME TAX EXPENSE 205,781 Income tax expense (credit)   17,538   NET INCOME $ 188,243   NET INCOME PER SHARE OF COMMON STOCK: Basic Earnings per share $ 0.06     Average shares outstanding-basic   2,948,740