CKB Annual Report 2021

Comparative Statement of Earnings

OPERATING INCOME

2017

2018

2019

2020

2021

(Audited)

(Audited)

(Audited)

(Audited)

(Unaudited)

Interest Income

$14,765,980

$16,424,812

$16,989,892

$16,986,102

$17,315,216

Interest Expense

$2,204,711

$3,337,858

$4,320,654

$2,362,689

$1,106,179

Net Interest Margin

$12,561,269

$13,086,954

$12,669,238

$14,623,413

$16,209,037

Other Income

$4,419,046

$4,104,789

$4,623,498

$6,465,430

$7,870,537

Total Income

$16,980,315

$17,191,743

$17,292,736

$21,088,843

$24,079,574

Operating Expenses

$11,908,224

$11,929,803

$12,123,669

$14,289,830

$15,572,284

Provision For Bad Debts

$757,963

$1,222,914

$1,408,803

$2,248,225

$75,000

Total Operating Expenses

$12,666,187

$13,152,717

$13,532,472

$16,538,055

$15,647,284

Federal Income Taxes

$0*

$0*

$0*

$0*

$0*

Earnings After Taxes

$4,314,128

$4,039,026

$3,760,264

$4,550,788

$8,432,290

Earnings Per Share (BSJ Bancshares, Inc.) $12.87

$11.98

$11.15

$13.41

$24.75

Shares Outstanding

335,200

337,095

337,391

339,301

340,665

Return on Average Assets

1.25%

1.11%

0.98%

1.07%

1.82%

Return on Equity

10.38%

9.30%

8.30%

9.52%

16.36%

Dividend Per Share

$7.30

$6.65

$6.45

$7.65

$13.75

*No income tax due to 2012 Subchapter S conversion.

RETURN ON AVERAGE ASSETS & RETURN ON EQUITY

18.00%

16.36%

16.00%

Return on Average Assets Return on Equity

14.00%

12.00%

10.38%

9.52%

9.30%

10.00%

8.30%

8.00%

6.00%

4.00%

1.82%

2.00%

1.25%

1.11%

1.07%

0.98%

0.00%

2017 (audited) 2018 (audited) 2019 (audited) 2020 (audited) 2021 (unaudited)

Cross Keys Bank 2022 pg. 17