BRBW Brunswick Bancorp (PK)

Brunswick Bancorp (OTCBB:BRBW):

FINANCIAL CONDITION AND RESULTS OF OPERATIONS     BRUNSWICK BANCORP AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET MARCH 31, 2013 (UNAUDITED)   ASSETS Cash and due from banks $ 42,553,101 Federal funds sold -   Total cash and cash equivalents 42,553,101 Securities held to maturity 3,000,000 Securities available for sale 70,214 Loans receivable, net 93,160,112 Premises and equipment, net 1,082,652 Accrued interest receivable 321,675 Other real estate 9,366,570 Other assets 1,184,893   TOTAL ASSETS $ 150,739,217   LIABILITIES AND STOCKHOLDERS' EQUITY Deposits Non-interest bearing $ 31,215,890 Interest bearing 83,716,581   Total deposits 114,932,471 Accrued interest payable 163,715 Other liabilities 928,910   TOTAL LIABILITIES 116,025,096   STOCKHOLDERS' EQUITY Preferred stock-no stated value 10,000,000 shares authorized and no shares issued and outstanding at March 31, 2013. Common stock - no par value 10,000,000 shares authorized; 3,119,551 shares issued and outstanding at March 31, 2013. 6,239,102 Additional paid-in capital 1,944,611 Treasury stock at cost, 185,429 shares at March 31, 2013. (1,298,887 ) Retained earnings 28,313,045 Deferred stock compensation (483,750 ) TOTAL STOCKHOLDERS' EQUITY 34,714,121   TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 150,739,217   BRUNSWICK BANCORP AND SUBSIDIARIES   CONSOLIDATED STATEMENT OF INCOME (LOSS) QUARTER END MARCH 31, 2013 (UNAUDITED)   INTEREST INCOME Interest on loans $ 1,384,443 Interest on investments 3,216 Interest on balances with banks 26,493 TOTAL INTEREST INCOME 1,414,152   INTEREST EXPENSE Interest on deposits 115,309 Interest on borrowed funds - Total interest expense 115,309 NET INTEREST INCOME 1,298,843 Provision for loan losses -   NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 1,298,843   OTHER INCOME Service fees 184,054 Other income 1,096,915 TOTAL OTHER INCOME 1,280,969   Realized loss on securities -   OTHER EXPENSES Salaries and employee benefits 965,536 Occupancy expenses 379,310 Equipment expenses 116,020 Other expenses 942,431 TOTAL OTHER EXPENSES 2,403,297   INCOME (LOSS) BEFORE INCOME TAX EXPENSE 176,515 Income tax expense (credit) 6,000 NET INCOME $ 170,515 NET INCOME PER SHARE OF COMMON STOCK: Basic Earnings per share $ 0.06   Average shares outstanding-basic 2,931,938