BRBW Brunswick Bancorp (PK)

Brunswick Bancorp (OTCBB:BRBW):

  FINANCIAL CONDITION AND RESULTS OF OPERATIONS       BRUNSWICK BANCORP AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET MARCH 31, 2014 (UNAUDITED)   ASSETS Cash and due from banks $ 67,464,684 Federal funds sold   -   Total cash and cash equivalents 67,464,684 Securities held to maturity 6,000,000 Securities available for sale 70,214 Loans receivable, net 93,833,373 Premises and equipment, net 971,051 Accrued interest receivable 266,130 Other real estate 8,173,228 Other assets   1,848,779   TOTAL ASSETS $ 178,627,459   LIABILITIES AND STOCKHOLDERS' EQUITY Deposits Non-interest bearing $ 34,858,458 Interest bearing   107,501,133   Total deposits 142,359,591 Accrued interest payable 139,845 Other liabilities   710,581   TOTAL LIABILITIES   143,210,017   STOCKHOLDERS' EQUITY Preferred stock-no stated value 10,000,000 shares authorized and no shares issued and outstanding at March 31, 2014. Common stock - no par value

10,000,000 shares authorized; 3,119,551 sharesissued and outstanding at March 31, 2014.

6,239,102 Additional paid-in capital 1,944,611

Treasury stock at cost, 199,399 shares   at March 31, 2014.

(1,354,773 ) Retained earnings 29,004,752 Deferred stock compensation   (416,250 ) TOTAL STOCKHOLDERS' EQUITY   35,417,442   TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 178,627,459           BRUNSWICK BANCORP AND SUBSIDIARIES CONSOLIDATED STATEMENT OF INCOME (LOSS) QUARTER END MARCH 31, 2014 (UNAUDITED)   INTEREST INCOME Interest on loans $ 1,646,440 Interest on investments 4,363 Interest on balances with banks   28,446 TOTAL INTEREST INCOME   1,679,249   INTEREST EXPENSE Interest on deposits 98,988 Interest on borrowed funds   - Total interest expense   98,988 NET INTEREST INCOME 1,580,261 Provision for loan losses   -   NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES   1,580,261   OTHER INCOME Service fees 174,421 Other income   60,006 TOTAL OTHER INCOME   234,427   Realized loss on securities -   OTHER EXPENSES Salaries and employee benefits 733,409 Occupancy expenses 327,557 Equipment expenses 14,806 Other expenses   587,345 TOTAL OTHER EXPENSES   1,663,117   INCOME (LOSS) BEFORE INCOME TAX EXPENSE 151,571 Income tax expense (credit)   7,000 NET INCOME $ 144,571 NET INCOME PER SHARE OF COMMON STOCK: Basic Earnings per share $ 0.05   Average shares outstanding-basic   2,920,259  

Brunswick BancorpRoman T. Gumina, 732-247-5800Chairman CEO