CITYSTATE
SAVINGS BANK, INC.
STATEMENTS OF INCOME
For the years ended December 31, 2003 and 2002
|
|
|
2003
(Audited) |
2002
(Audited) |
|
INTEREST INCOME ON |
| Receivables
from customers |
P 73,988,500 |
P 76,208,451 |
| Investments
|
32,348,334 |
27,632,136 |
| Deposits
|
1,891,588 |
5,094,426 |
| |
108,228,422 |
108,935,013 |
|
|
| INTEREST
EXPENSE ON DEPOSIT LIABILITIES |
23,973,373 |
21,301,892 |
| NET
INTEREST INCOME |
84,255,049 |
87,633,121 |
| PROVISION
FOR PROBABLE LOSSES |
2,113,409 |
3,768,347 |
| NET
INTEREST INCOME AFTER PROVISION FOR PROBABLE LOSSES
|
82,141,640 |
83,864,774 |
|
OTHER INCOME |
| Service
charges and fees |
18,019,684 |
18,168,428 |
| Miscellaneous
|
15,771,550 |
14,459,360 |
|
|
| |
33,791,234 |
32,627,788 |
|
|
|
OTHER EXPENSES |
| Compensation
and employee benefits |
31,248,552 |
27,735,196 |
| Occupancy
|
11,548,825 |
14,353,496 |
| Security,
janitorial, messengerial services |
6,664,352 |
5,961,752 |
| Power,
light and water |
5,311,063 |
3,637,024 |
| Postage,telephone
and telegraph |
3,407,650 |
2,626,262 |
| Insurance
|
3,116,775 |
3,147,410 |
| Amortization
of deferred charges |
2,836,985 |
3,340,243 |
| Taxes
and licenses |
2,693,307 |
6,628,797 |
| Representation
and entertainment |
1,419,644 |
1,971,765 |
| Litigation/assets
acquired |
2,629,977 |
1,192,037 |
| Other
operating expenses |
12,071,235 |
12,764,145 |
| |
82,948,365 |
83,358,127 |
|
|
| INCOME
BEFORE TAX |
32,984,509 |
33,134,435 |
|
|
|
INCOME TAX EXPENSE (BENEFIT) |
| Current
|
10,857,066 |
8,263,581 |
| Deferred
|
676,292 |
1,155,950 |
| |
10,180,774 |
9,419,531 |
|
|
| NET
INCOME |
P 22,803,735 |
P 23,714,904 |
CITYSTATE SAVINGS BANK, INC.
STATEMENTS OF CONDITION
DECEMBER 31, 2003 AND 2002
|
| |
2003
|
2002
|
|
RESOURCES |
| Cash and
other cash items |
P
35,176,413 |
P 29,842,790 |
| Due from
Bangko Sentral ng Pilipinas |
14,322,482 |
11,611,266 |
| Due from
other banks |
36,395,234 |
31,010,077 |
| Interbank
Loans Receivable |
250,000,000
|
245,000,000 |
| Available
for sale securities |
327,000,000
|
205,000,000 |
| Investments
in bonds and other debt instruments |
17,701,556 |
13,769,120 |
| Receivables
from customers - net |
417,271,799 |
461,787,300 |
| Bank premises,
furniture, fixtures and equipment - net |
95,811,354 |
102,925,906 |
| Real and
other properties owned or acquired |
69,267,579 |
44,233,052 |
| Other
resources |
71,836,863 |
90,568,586 |
| |
| TOTAL
RESOURCES |
P 1,334,783,280 |
P
1,235,748,097 |
| |
|
LIABILITIES AND EQUITY
|
| |
| LIABILITIES
|
| |
| Deposit
Liabilities |
| Demand
|
P
84,261,646 |
P
40,613,474 |
| Savings
|
717,257,719 |
674,351,534 |
| |
|
|
| |
| Total
Deposit Liabilities |
801,519,365 |
714,965,008 |
| |
| Other
liabilities |
28,302,414 |
37,635,323 |
| |
| Total
Liabilities |
829,821,779 |
752,600,331 |
| |
| EQUITY
|
504,961,501 |
483,147,766 |
| |
| TOTAL
LIABILITIES AND EQUITY |
P 1,334,783,280 |
P
1,235,748,097 |
|
