Statement of Condition
December 31, 2023
Assets
| Cash and Balances Due From Banks | $15,960,414 |
| Securities | $37,348,168 |
| Net Loans & Leases | $180,175,291 |
| Premises & Fixed Assets | $865,474 |
| Other Real Estate Owned | $0 |
| Other Assets | $1,239,239 |
| TOTAL | $235,588,586 |
Liabilities
| Deposits | $197,026,032 |
| Borrowed Funds | $18,800,000 |
| Other Liabilities | $1,523,010 |
| TOTAL | $217,349,042 |
Capital
| Common Stock | $200,000 |
| Surplus | $18,000,000 |
| Retained Earnings | $3,450,422 |
| AOCI1 | -$3,410,878 |
| TOTAL | $18,239,544 |
| TOTAL LIABILITIES & CAPTIAL | $235,588,586 |
Other Ratings & Resources
December 31, 2023
| Tier 1 Leverage Ratio | 9.629% |
| Independent BauerFinancial Rating2 | 5 / 5 |
For additional financial information, access our call report here.
All of Drake Bank’s government securities are held available for sale and marked to market monthly
1 Accumulated Other Comprehensive Income (AOCI) represents designated unrealized profits or losses on items that are placed in the other comprehensive income category
2 Drake Bank BauerFinancial Rating https://drake-bank.com/drake-bank-awarded-5-star-trusted-community-bank-by-bauerfinancial/