BRBW Brunswick Bancorp (PK)

Brunswick Bancorp (OTCBB:BRBW):

  FINANCIAL CONDITION AND RESULTS OF OPERATIONS   BRUNSWICK BANCORP AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET SEPTEMBER 30, 2014 (UNAUDITED)   ASSETS Cash and due from banks $ 65,219,481 Federal funds sold   -   Total cash and cash equivalents 65,219,481 Securities held to maturity 6,000,000 Securities available for sale 70,214 Loans receivable, net 92,326,631 Premises and equipment, net 999,591 Accrued interest receivable 245,834 Other real estate 8,412,164 Other assets   1,769,733   TOTAL ASSETS $ 175,043,648   LIABILITIES AND STOCKHOLDERS' EQUITY Deposits Non-interest bearing $ 34,324,799 Interest bearing   104,090,273   Total deposits 138,415,072 Accrued interest payable 178,526 Other liabilities   958,196   TOTAL LIABILITIES   139,551,794   STOCKHOLDERS' EQUITY Preferred stock-no stated value 10,000,000 shares authorized and no sharesissued and outstanding at September 30, 2014. Common stock - no par value 10,000,000 shares authorized; 3,119,551 shares issued and outstanding at September 30, 2014. 6,239,102 Additional paid-in capital 1,944,611 Treasury stock at cost, 199,399 shares at September 30, 2014. (1,340,729 ) Retained earnings 29,031,370 Deferred stock compensation   (382,500 ) TOTAL STOCKHOLDERS' EQUITY   35,491,854   TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 175,043,648   BRUNSWICK BANCORP AND SUBSIDIARIES     CONSOLIDATED STATEMENT OF INCOME (LOSS) QUARTER END SEPTEMBER 30, 2014 (UNAUDITED)       INTEREST INCOME Interest on loans $ 4,330,511 Interest on investments 13,400 Interest on balances with banks   98,796 TOTAL INTEREST INCOME   4,442,707   INTEREST EXPENSE Interest on deposits 297,005 Interest on borrowed funds   - Total interest expense   297,005 NET INTEREST INCOME 4,145,702 Provision for loan losses   -   NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES   4,145,702   OTHER INCOME Service fees 575,068 Other income   265,975 TOTAL OTHER INCOME   841,043   Realized loss on securities -   OTHER EXPENSES Salaries and employee benefits 2,206,043 Occupancy expenses 952,363 Equipment expenses 41,107 Other expenses   1,584,042 TOTAL OTHER EXPENSES   4,783,555   INCOME (LOSS) BEFORE INCOME TAX EXPENSE 203,190 Income tax expense (credit)   32,000 NET INCOME $ 171,190 NET INCOME PER SHARE OF COMMON STOCK: Basic Earnings per share $ 0.06   Average shares outstanding-basic   2,920,791

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