Condensed Annual Financial Statements
Phone: (423) 648-3413, Fax: (423) 698-2912, email: epbecu@epbecu.org
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Information based on Credit Union Board Reports. NCUA Regulatory Accounting Principles were used.
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| ASSETS: | 12/31/06 | 12/31/05 | 12/31/04 | 12/31/03 | 12/31/02 |
| Cash: | $1,818,320.69 | $1,808,087.92 | $1,723,730.26 | $1,047,848.90 | $1,748,132.97 |
| Investments: | 7,296,943.00 | 10,182,586.98 | 13,350,087.20 | 14,457,747.84 | 12,552,497.84 |
| Loans: | 12,572,008.22 | 10,940,424.78 | 10,243,610.09 | 9,658,450.27 | 10,348,597.96 |
| Loan Loss Allowance: | (71,257.54) | (56,784.84) | (52,807.36) | (42,141.68) | (86,000.00) |
| Other Assets: | 798,659.82 | 718,049.62 | 680,311.50 | 435,977.07 | 391,408.50 |
| Total Assets: | $22,414,674.19 | $23,592,364.46 | $25,944,931.69 | $25,557,882.40 | $24,954,637.27 |
| LIABILITIES: | |||||
| Notes & Payables: | $269,994.66 | $257,190.01 | $267,449.88 | $130,485.87 | $187,418.53 |
| Shares & Deposits: | 11,074,344.39 | 12,669,589.67 | 14,299,745.40 | 13,633,946.32 | 13,397,053.83 |
| Certificates: | 7,460,146.90 | 7,108,042.64 | 7,874,168.24 | 8,352,945.83 | 8,143,049.52 |
| Total Liabilities: | $18,804,485.95 | $20,024,822.32 | $22,431,363.52 | $22,117,378.02 | $21,727,521.88 |
| EQUITY: | |||||
| Reserves: | 620,000.00 | 620,000.00 | 620,000.00 | 620,000.00 | 620,000.00 |
| Undivided Earnings: | 2,937,542.14 | 2,893,568.17 | 2,820,504.38 | 2,607,115.39 | 2,398,020.62 |
| Net Income (loss): | 52,646.10 | 43,973.97 | 73,063.79 | 213,388.99 | 209,094.77 |
| Total Equity: | $3,610,188.24 | $3,557,542.14 | $3,513,568.17 | $3,440,504.38 | $3,227,115.39 |
| Total Liabilities & Equity: | $22,414,674.19 | $23,592,364.46 | $25,944,931.69 | $25,557,882.40 | $24,954,637.27 |
| INTEREST INCOME: | 12/31/06 | 12/31/05 | 12/31/04 | 12/31/03 | 12/31/02 |
| Interest on Loans: | $ 736,971.26 | $ 636,081.55 | $ 649,735.36 | $ 729,138.96 | $ 898,028.35 |
| Loan Interest Rebate: | (0.00) | (31,008.07) | (31,917.08) | (35,638.79) | (44,226.76) |
| Investment Income: | 328,448.81 | 431,481.80 | 528,736.08 | 612,530.38 | 606,551.04 |
| Total Interest Income: | $1,065,420.07 | $1,036,555.28 | $1,146,554.36 | $1,306,030.55 | $1,460,352.63 |
| INTEREST EXPENSES: | |||||
| Dividend Expense: | $440,519.99 | $357,073.46 | $379,607.74 | $527,296.45 | $664,144.78 |
| Interest on Borrowed Funds: | 244.49 | 2,697.06 | 7.61 | 21.32 | 10.59 |
| Provision for Loan Losses: | 55,250.00 | 59,500.00 | 100,000.00 | 10,000.00 | 43,365.92 |
| Total Interest Expense: | $496,014.48 | $419,270.52 | $479,615.35 | $537,317.77 | $707,521.29 |
| Net Interest Income: | $569,405.59 | $617,284.76 | $666,939.01 | $768,712.78 | $752,831.34 |
| NON-INTEREST INCOME: | |||||
| Fee Income: | $48,383.02 | $37,141.97 | $33,032.21 | $38,324.55 | $30,815.11 |
| Other Non-operating Income: | $ 7,485.42 | $ 7,132.66 | $ 6,825.78 | $ 0.00 | $ 0.00 |
| Other Operating Income: | 68,847.56 | 43,175.15 | 26,233.91 | 33,130.75 | 32,271.38 |
| Total Non-Interest Income: | $124,716.00 | $ 87,449.78 | $ 66,091.90 | $ 71,455.30 | $ 63,086.49 |
| NON-INTEREST EXPENSE: | |||||
| Total Operating Expense: | $641,475.49 | $660,760.57 | $659,967.12 | $626,779.09 | $606,823.06 |
| RESERVE TRANSFERS: | |||||
| Reserve Transfer: | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Change to Undivided Earnings: | $ 52,646.10 | $ 43,973.97 | $ 73,063.79 | $213,388.99 | $209,094.77 |
| 12/31/06 | 12/31/05 | 12/31/04 | 12/31/03 | 12/31/02 | |
| Capital-to-Asset Ratio: | 16.35% | 15.19% | 13.61% | 13.44% | 13.16% |
| Net Worth Ratio: | 15.695% | 14.273% | 13.468% | 12.943% | 13.102% |
| State Reserve Ratio: | 5.725% | 6.186% | 6.568% | 6.856% | 6.822% |
| Return on Assets: | 0.24% | 0.19% | 0.28% | 0.84% | 0.56% |
| Total Members: | 2,333 | 2,336 | 2,327 | 2,359 | 2,481 |