BRBW Brunswick Bancorp (PK)

Brunswick Bancorp (OTCBB:BRBW):

FINANCIAL CONDITION AND RESULTS OF OPERATIONS     BRUNSWICK BANCORP AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET JUNE 30, 2014 (UNAUDITED)   ASSETS Cash and due from banks $ 61,896,084 Federal funds sold   - Total cash and cash equivalents 61,896,084 Securities held to maturity 6,000,000 Securities available for sale 70,214 Loans receivable, net 92,242,447 Premises and equipment, net 943,387 Accrued interest receivable 204,129 Other real estate 8,299,499 Other assets   1,814,177 TOTAL ASSETS $ 171,469,937 LIABILITIES AND STOCKHOLDERS' EQUITY Deposits Non-interest bearing $ 35,526,962 Interest bearing   99,588,422 Total deposits 135,115,384 Accrued interest payable 156,940 Other liabilities   679,454 TOTAL LIABILITIES   135,951,778 STOCKHOLDERS' EQUITY Preferred stock-no stated value 10,000,000 shares authorized and no shares issued and outstanding at June 30, 2014. Common stock - no par value 10,000,000 shares authorized; 3,119,551 shares issued and outstanding at June 30, 2014. 6,239,102 Additional paid-in capital 1,944,611 Treasury stock at cost, 199,399 shares at June 30, 2014. (1,354,773) Retained earnings 29,088,594 Deferred stock compensation   (399,375) TOTAL STOCKHOLDERS' EQUITY   35,518,159 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 171,469,937 BRUNSWICK BANCORP AND SUBSIDIARIES   CONSOLIDATED STATEMENT OF INCOME (LOSS) QUARTER END JUNE 30, 2014 (UNAUDITED)   INTEREST INCOME Interest on loans $ 2,988,758 Interest on investments 8,881 Interest on balances with banks   67,347 TOTAL INTEREST INCOME   3,064,986   INTEREST EXPENSE Interest on deposits 196,347 Interest on borrowed funds   - Total interest expense   196,347 NET INTEREST INCOME 2,868,639 Provision for loan losses   -   NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES   2,868,639   OTHER INCOME Service fees 392,397 Other income   124,962 TOTAL OTHER INCOME   517,359   Realized loss on securities -   OTHER EXPENSES Salaries and employee benefits 1,464,018 Occupancy expenses 641,509 Equipment expenses 29,344 Other expenses   1,015,713 TOTAL OTHER EXPENSES   3,150,584   INCOME (LOSS) BEFORE INCOME TAX EXPENSE 235,414 Income tax expense (credit)   7,000 NET INCOME $ 228,414 NET INCOME PER SHARE OF COMMON STOCK: Basic Earnings per share $ 0.08   Average shares outstanding-basic   2,920,205

Brunswick BancorpRoman T. GuminaChairman CEO732-247-5800