CKB Annual Report 2018
2018 Annual Report
Cross Keys Bank
2019 Newsletter
and the ability to deposit checks. We also provide the very best in debit card security , as we offer the SecurLOCK Equip mobile app. This handy app lets you turn your Cross Keys Bank debit card on and off, and monitor its use from the palm of your hand with your smart phone. All of our newly issued cards come with EMV chip technology to provide greater security of your account information. We continue to offer all types of insurance through Cross Keys Insurance Agency and investment opportunities with Cross Keys Investment Services. Lastly, we always provide the personal service that will make the transition of business to Cross Keys Bank from other institutions smooth and easy. There is really no reason why you shouldn’t do all of your banking with Cross Keys Bank ! Our management team, Board of Directors, and staff remain committed to safeguarding your interest. On behalf of our employees and the Board of Directors, we wish you, your family, and friends a healthy and prosperous 2019.
Message to our Shareholders and Customers
Dear Friends,
For the year ended December 31, 2018, BSJ Bancshares, Inc. had total earnings of $4,038,274. Total assets as of that date were $382,864,403, which represents growth of just over eight percent in the last year.
As always, we’d like to remind you that as an owner, you can help to improve the value of your investment by utilizing your bank for all of your business and personal needs as a depositor and as a borrower. We also ask that you encourage your friends and associates to utilize our services. We provide additional value with state of the art technology that gives you quick and easy access to your accounts, and we have a top notch lending team that actively seeks loans to financially sound borrowers. Our Mortgage Department is capable of providing residential property financing just about anywhere. Through our CKB Mobile Banking App , we provide you with a virtual branch at home and work that gives you both access to your accounts
Sincerely,
Benjamin M. Watson , President, BSJ Bancshares, Inc.
CKB Board of Directors (left to right) Shane Bridges, Darrell VandeVen, Brooks Watson, Ben Watson, Jan Johnston, Kevin Bryan, Michael Vizard, and Bo Shaw Not pictured: Scott Franklin
BSJ Bancshares, Inc. Board (left to right) Tru Goldman, Michael Vizard, Bill Watson, Ben Watson, Becky Vizard, and Scott Watson
pg. 28 Cross Keys Bank 2019
2018 Board of Directors of Cross Keys Bank Michael R. Vizard – Chairman Shane Bridges – Banker Kevin Bryan – Architect Scott Franklin – Businessman Jan Bagwell Johnston – DDS E.D. Shaw, III – Businessman Darrell VandeVen – Planter Benjamin M. Watson – Banker William Brooks Watson – Attorney
2018 Board of Directors of BSJ Bancshares, Inc.
Rebecca Vizard , Chairman Harry Truman Goldman, III Benjamin M. Watson Scott Watson
WilliamW. Watson Michael R. Vizard
Cross Keys Bank Officers
Claire Rosenzweig – VP, AssistantController Megan Smith – VP, ComplianceOfficer Merrill Wautlet – VP, BusinessDevelopmentOfficer, Shreveport Babbette Adcock – AVP, HudsonLaneLeasing&Properties Manager Fred Clark – AVP, Lending,WestMonroe Kelly Coates – AVP, BSA,OFAC, &SecurityOfficer Sherry Darnell – AVP, Electronic (E) BankingOfficer Kandy George – AVP, BranchManager, Lending, Rayville Robin McVay – AVP, BranchManager, St. JosephandOperations Assistant Sharon O’Briant – AVP,MortgageDepartment
Michael R. Vizard – Chief Executive Officer (CEO) Shane Bridges – President & Chief Credit Officer (CCO) Mandy Smart – Executive VP & Chief Operations Officer (COO) BenjaminM.Watson – ExecutiveVP&Chief FinancialOfficer (CFO) Chris Fuller – Market President,Monroe&Sterlington Walter Hillman – Market President, Richland&Madison Mike Thompson – Market President, Tensas
Samuel C. Feldhaus – SVP, IT& InformationSecurityOfficer Linda Green – SVP, CreditDepartmentManager
Beverly Joiner – SVP,MortgageLending Chad Monsour – SVP, CrossKeys Insurance William Brooks Watson – SVP, Legal Counsel
Sydney Booth – CRAOfficer, CreditAnalyst Pam Essex – Asst BranchManager, Lending, Tallulah Landon Joiner – MortgageLoanOfficer,Monroe George Matthews – LoanOfficer, St. Joseph Brooke Spillars – LoanOfficer, St. Joseph
Patricia Ardis – VP, CollectionOfficer Bradley Bridges – VP, Lending,WestMonroe Justin Gambill – VP, Lending, Shreveport Shelly Harrell – VP, BoardSecretary, ExecutiveAdministrative Assistant Pete Hays – VP, Lending, Shreveport Lee Riordan – VP, BranchManager, Lending, Sterlington Tracey Robinson – VP,MortgageDepartmentManager Jeremy Rodden – VP,MarketManager,MadisonParish
Cross Keys Bank 2019 pg. 29
2018 Annual Reports Comparative Statement of Condition
RESOURCES AT YEAR END
2014
2015
2016
2017
2018
(Audited)
(Audited)
(Audited)
(Audited)
(Unaudited)
Cash and Due from Banks
$9,824,213
$11,117,109
$22,183,952
$21,068,098
$28,732,375
Investment Securities*
$137,557,254 $112,478,712 $108,923,049
$91,260,612
$88,090,935
Loans
$166,309,457 $186,728,820 $196,451,052 $227,047,190 $233,461,570
Provision For Loan Loss
($1,192,343)
($1,179,112)
($1,604,303)
$2,151,607
$1,639,860
Loans Net of Provisions For Loss
$165,117,114 $185,549,708 $194,846,749 $224,895,583 $231,821,710
Fed Funds Sold
$0
$0
$0
$0
$15,000,000
Bank Buildings/Equipment
$5,366,833
$5,359,314
$5,111,211
$5,584,527
$7,314,628
Interest Earned —Not Collected
$1,982,899
$1,710,101
$2,006,431
$1,981,367
$2,163,299
Other Assets
$4,251,756
$4,575,863
$4,326,864
$9,377,344
$9,741,456
Total Assets
$324,100,069 $320,790,807 $337,398,256
$354,167,531 $382,864,403
LIABILITIES AT YEAR END
2014
2015
2016
2017
2018
Deposits
$250,735,248 $242,858,812 $256,580,851
$268,079,293
$300,920,897
Repurchase Agreements
$0
$0 $1,435,811 $1,143,166 $1,620,989
FHLB Borrowings
$31,959,130
$34,375,806
$36,542,513
$38,574,152
$33,710,418
Other Liabilities
$954,313
$1,549,663
$1,511,430
$2,922,361
$2,065,723
Total Liabilities
$283,648,691 $278,784,281 $296,070,605 $310,718,972
$338,318,027
Capital
$42,100,119
$39,672,945
$40,561,062
$42,596,509
$44,641,027
Treasury Stock
($4,269,059)
$0
$0
$0
$0
Number of Shares Treasury Stock
55,669
0
0
0
0
Unrealized Gain (Loss) on Sec
$2,620,318
$2,333,581
$766,589
$852,049
($94,651)
Total Stockholders Equity
$40,451,378
$42,006,526
$41,327,651
$43,448,559
$44,546,376
Total Liabilities and Capital
$324,100,069 $320,790,807 $337,398,256 $354,167,531 $382,864,403
RETURN ON AVERAGE ASSETS & RETURN ON EQUITY
14.00% 12.00% 10.00%
Return On Average Assets Return On Equity
11.21%
10.38%
8.00% 6.00% 4.00% 2.00% 0.00%
9.30%
1.25%
1.11%
2014
2015
2016
2017
2018
pg. 30 Cross Keys Bank 2019
Comparative Statement of Earnings
OPERATING INCOME
2014
2015
2016
2017
2018
(Audited)
(Audited)
(Audited)
(Audited)
(Unaudited)
Interest Income
$12,744,019
$13,176,089
$13,890,594
$14,765,980
$16,424,778
Interest Expense
$1,439,376
$1,474,608
$1,622,625
$2,204,711
$3,334,736
Net Interest Margin
$11,304,643
$11,701,481
$12,267,969
$12,561,269
$13,090,042
Other Income
$3,121,254
$3,531,281
$4,054,832
$4,419,046
$4,096,263
Total Income
$14,425,897
$15,232,762
$16,322,801
$16,980,315
$17,186,305
Operating Expenses
$10,396,374
$10,894,947
$11,785,390
$11,908,224
$11,925,117
Provision For Bad Debts
($112,176)
$0
$670,117
$757,963
$1,222,914
Total Operating Expenses
$10,284,198
$10,894,947
$12,455,507
$12,666,187
$13,148,031
Federal Income Taxes
$0*
$0*
$0*
$0*
$0*
Earnings After Taxes
$4,141,699
$4,337,815
$3,867,294
$4,314,128
$4,038,274
Earnings Per Share (BSJ Bancshares, Inc.)
$12.03
$12.73
$11.59
$12.87
$11.98
Shares Outstanding
344,331
340,835
333,630
335,200
337,095
Return on Average Assets
1.32%
1.35%
1.16%
1.25%
1.11%
Return on Equity
11.33%
11.21%
9.63%
10.38%
9.30%
Dividend Per Share
$5.45
$6.40 $6.65 $7.30
$6.65
*No income tax due to 2012 Subchapter S conversion.
DISTRIBUTIONS & EARNINGS PER SHARE
$14.00 $12.00 $10.00
$12.87
Distributions Per Share Earnings Per Share
$12.73
$11.98
$8.00 $6.00 $4.00 $2.00 $0.00
$7.30
$6.65
2014
2015
2016
2017
2018
Cross Keys Bank 2019 pg. 31
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