Business & Finance
Mon, April 23, 2012 
NEW BRUNSWICK, N.J.--([ BUSINESS WIRE ])--Brunswick Bankcorp (OTCBB:BRBW):
| BRUNSWICK BANCORP AND SUBSIDIARIES | ||||||
| CONSOLIDATED BALANCE SHEET | ||||||
| MARCH 31, 2012 (UNAUDITED) | ||||||
| ASSETS | ||||||
| Cash and due from banks | $ 33,835,239 | |||||
| Federal funds sold | - | |||||
| Total cash and cash equivalents | 33,835,239 | |||||
| Securities held to maturity | 3,000,000 | |||||
| Securities available for sale | 70,214 | |||||
| Loans receivable, net | 98,232,505 | |||||
| Premises and equipment, net | 1,247,874 | |||||
| Accrued interest receivable | 490,679 | |||||
| Other real estate | 7,354,839 | |||||
| Other assets | 2,321,454 | |||||
TOTAL ASSETS | $ 146,552,804 | |||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||
| Deposits | ||||||
| Non-interest bearing | $ 30,644,816 | |||||
| Interest bearing | 78,824,828 | |||||
| Total deposits | 109,469,644 | |||||
| Accrued interest payable | 199,627 | |||||
| Other liabilities | 192,867 | |||||
| TOTAL LIABILITIES | 109,862,138 | |||||
| STOCKHOLDERS' EQUITY | ||||||
| Preferred stock-no stated value | ||||||
| 10,000,000 shares authorized and no shares | ||||||
| issued and outstanding at march 31, 2012. | ||||||
| Common stock - no par value | ||||||
| 10,000,000 shares authorized; | ||||||
| 3,119,551 shares issued and outstanding at | ||||||
| March 31, 2012. | 6,239,102 | |||||
| Additional paid-in capital | 1,944,611 | |||||
| Treasury stock at cost, 192,226 shares | ||||||
| at March 31, 2012. | (1,346,466) | |||||
| Retained earnings | 30,404,669 | |||||
| Deferred stock compensation | (551,250) | |||||
| TOTAL STOCKHOLDERS' EQUITY | 36,690,666 | |||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 146,552,804 | |||||
| BRUNSWICK BANCORP AND SUBSIDIARIES | ||
| CONSOLIDATED STATEMENT OF INCOME (LOSS) | ||
| QUARTER END MARCH 31, 2012 (UNAUDITED) | ||
| INTEREST INCOME | ||
| Interest on loans | $ 1,492,163 | |
| Interest on investments | 4,432 | |
| Interest on balances with banks | 23,999 | |
| TOTAL INTEREST INCOME | 1,520,594 | |
| INTEREST EXPENSE | ||
| Interest on deposits | 151,298 | |
| Interest on borrowed funds | - | |
| Total interest expense | 151,298 | |
| NET INTEREST INCOME | 1,369,296 | |
| Provision for loan losses | 17,283 | |
| NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 1,352,013 | |
| OTHER INCOME | ||
| Service fees | 130,509 | |
| Other income | 24,940 | |
| TOTAL OTHER INCOME | 155,449 | |
| Realized loss on securities | - | |
| OTHER EXPENSES | ||
| Salaries and employee benefits | 689,413 | |
| Occupancy expenses | 293,630 | |
| Equipment expenses | 40,703 | |
| Other expenses | 439,390 | |
| TOTAL OTHER EXPENSES | 1,463,136 | |
| INCOME (LOSS) BEFORE INCOME TAX EXPENSE | 44,326 | |
| Income tax expense (credit) | - | |
| NET INCOME | $ 44,326 | |
| NET INCOME PER SHARE OF COMMON STOCK: | ||
| Basic Earnings per share | $ 0.02 | |
| Average shares outstanding-basic | 2,892,881 |
