Delaware | 63-0833573 | |
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification Number) |
200 East Nashville Avenue, Atmore, Alabama | 36502 | |
(Address of principal executive offices) | (Zip Code) |
Large accelerated filer o | Accelerated filer o | Non-accelerated filer o | Smaller Reporting Company x |
PART I - FINANCIAL INFORMATION | PAGE | ||
Item 1. | Financial Statements | ||
Consolidated Balance Sheets | 3 | ||
Consolidated Statements of Earnings and Comprehensive Income | 4 | ||
Consolidated Statements of Cash Flows | 5 | ||
Notes to Consolidated Financial Statements | 6 | ||
Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 36 | |
Item 4. | Controls and Procedures | 46 | |
PART II - OTHER INFORMATION | |||
Item 1A. | Risk Factors | 47 | |
Item 6. | Exhibits | 47 |
June 30,
|
December 31,
|
|||||||
2011
|
2010
|
|||||||
(Unaudited)
|
||||||||
Assets
|
||||||||
Cash and due from banks
|
$ | 10,455,302 | $ | 18,179,566 | ||||
Interest bearing deposits in banks
|
42,441,489 | 62,786,543 | ||||||
Cash and cash equivalents
|
52,896,791 | 80,966,109 | ||||||
Securities available for sale (amortized cost of $66,014,500 and $69,518,789 respectively)
|
66,211,005 | 68,808,624 | ||||||
Securities held to maturity (fair values of $21,748,689 and $17,302,864 respectively)
|
21,390,928 | 17,262,606 | ||||||
Loans held for sale
|
857,000 | - | ||||||
Loans held for investment
|
263,755,383 | 261,770,815 | ||||||
Less: Allowance for loan losses
|
5,405,326 | 5,139,998 | ||||||
Net loans held for investment
|
258,350,057 | 256,630,817 | ||||||
Premises and equipment, net
|
16,117,302 | 16,472,056 | ||||||
Interest receivable
|
2,065,190 | 2,192,768 | ||||||
Other assets
|
12,887,418 | 14,723,722 | ||||||
Other real estate owned
|
10,852,521 | 10,163,992 | ||||||
Total assets
|
441,628,212 | 467,220,694 | ||||||
Liabilities and Stockholders' Equity
|
||||||||
Deposits:
|
||||||||
Non-interest bearing
|
122,669,478 | 142,681,749 | ||||||
Interest bearing
|
268,073,556 | 274,350,971 | ||||||
Total deposits
|
390,743,034 | 417,032,720 | ||||||
Advances from Federal Home Loan Bank of Atlanta
|
1,197,900 | 1,280,300 | ||||||
Treasury, tax, and loan account
|
887,507 | 944,078 | ||||||
Interest payable
|
342,947 | 402,953 | ||||||
Accrued expenses and other liabilities
|
1,585,576 | 1,731,437 | ||||||
Note payable to Trust
|
10,310,000 | 10,310,000 | ||||||
Total liabilities
|
405,066,964 | 431,701,488 | ||||||
Stockholders' equity
|
||||||||
Preferred stock of $.01 par value. Authorized 250,000 shares;10,300 shares, net of discount
|
10,114,279 | 10,080,227 | ||||||
Class A common stock, $0.01 par value.
|
||||||||
Authorized 5,000,000 shares; issued and outstanding, 2,389,127 shares
|
23,891 | 23,891 | ||||||
Class B common stock, $0.01 par value.
|
||||||||
Authorized 250,000 shares; no shares issued or outstanding
|
- | - | ||||||
Additional paid in capital
|
6,963,919 | 6,815,176 | ||||||
Accumulated other comprehensive income (loss) net of tax
|
117,898 | (426,105 | ) | |||||
Retained earnings
|
19,854,120 | 19,721,667 | ||||||
37,074,107 | 36,214,856 | |||||||
Less: 63,965 and 86,757 treasury shares, at cost, respectively
|
512,859 | 695,650 | ||||||
Total stockholders' equity
|
36,561,248 | 35,519,206 | ||||||
Total liabilities and stockholders' equity
|
$ | 441,628,212 | $ | 467,220,694 |
Three Months Ended
June 30
|
Six Months Ended
June 30
|
|||||||||||||||
2011
|
2010
|
2011
|
2010
|
|||||||||||||
Interest income:
|
||||||||||||||||
Interest and fees on loans
|
$ | 4,004,038 | $ | 4,233,077 | $ | 7,901,026 | $ | 8,371,846 | ||||||||
Interest on investment securities available for sale:
|
||||||||||||||||
Taxable
|
430,250 | 396,013 | 868,379 | 824,678 | ||||||||||||
Nontaxable
|
82,102 | 237,282 | 166,748 | 495,650 | ||||||||||||
Total investment income
|
512,352 | 633,295 | 1,035,127 | 1,320,328 | ||||||||||||
Other interest income
|
29,871 | 39,271 | 75,563 | 72,005 | ||||||||||||
Total interest income
|
4,546,261 | 4,905,643 | 9,011,716 | 9,764,179 | ||||||||||||
Interest expense:
|
||||||||||||||||
Interest on deposits
|
794,015 | 1,140,477 | 1,660,422 | 2,445,931 | ||||||||||||
Interest on other borrowed funds
|
70,281 | 72,776 | 139,335 | 141,149 | ||||||||||||
Total interest expense
|
864,296 | 1,213,253 | 1,799,757 | 2,587,080 | ||||||||||||
Net interest income
|
3,681,965 | 3,692,390 | 7,211,959 | 7,177,099 | ||||||||||||
Provision for loan losses
|
300,000 | 600,000 | 600,000 | 1,038,000 | ||||||||||||
Net interest income after provision for loan losses
|
3,381,965 | 3,092,390 | 6,611,959 | 6,139,099 | ||||||||||||
Noninterest income:
|
||||||||||||||||
Service charge on deposits
|
793,622 | 834,472 | 1,590,304 | 1,660,489 | ||||||||||||
Investment securities gains, net
|
25,104 | 59,889 | 25,104 | 219,354 | ||||||||||||
Mortgage loan and related fees
|
57,466 | 82,736 | 121,036 | 137,701 | ||||||||||||
Other
|
271,860 | 233,216 | 442,948 | 422,806 | ||||||||||||
Total noninterest income
|
1,148,052 | 1,210,313 | 2,179,392 | 2,440,350 | ||||||||||||
Noninterest expense:
|
||||||||||||||||
Salaries and benefits
|
2,213,492 | 2,153,319 | 4,421,362 | 4,321,981 | ||||||||||||
Net occupancy expense
|
484,811 | 557,790 | 968,502 | 1,096,266 | ||||||||||||
Other
|
1,327,274 | 1,505,006 | 2,605,638 | 2,737,353 | ||||||||||||
Total noninterest expense
|
4,025,577 | 4,216,115 | 7,995,502 | 8,155,600 | ||||||||||||
Earnings before income tax expense (benefits)
|
504,440 | 86,588 | 795,849 | 423,849 | ||||||||||||
Income tax expense (benefits)
|
139,976 | (58,767 | ) | 204,023 | (77,309 | ) | ||||||||||
Net earnings
|
364,464 | 145,355 | 591,826 | 501,158 | ||||||||||||
Preferred stock dividends
|
51,500 | 128,750 | 103,000 | 257,500 | ||||||||||||
Accretion on preferred stock discount
|
15,249 | 16,192 | 32,153 | 32,153 | ||||||||||||
Net earnings available to common shareholders
|
$ | 297,715 | $ | 413 | $ | 456,673 | $ | 211,505 | ||||||||
Basic earnings per share
|
$ | 0.13 | $ | 0.00 | $ | 0.20 | $ | 0.09 | ||||||||
Diluted earnings per share
|
$ | 0.13 | $ | 0.00 | $ | 0.20 | $ | 0.09 | ||||||||
Basic weighted average shares outstanding
|
2,325,162 | 2,279,669 | 2,319,621 | 2,277,940 | ||||||||||||
Diluted weighted average shares outstanding
|
2,325,162 | 2,280,456 | 2,319,621 | 2,278,727 | ||||||||||||
Cash dividend per share
|
$ | - | $ | - | $ | - | $ | - | ||||||||
Statement of Comprehensive Income
|
||||||||||||||||
Net earnings
|
$ | 364,464 | $ | 145,355 | $ | 591,826 | $ | 501,158 | ||||||||
Other comprehensive income, net of tax:
|
||||||||||||||||
Unrealized holding gains arising during the period
|
676,370 | 488,290 | 559,065 | 516,427 | ||||||||||||
Reclassification adjustment for gains included in net earnings
|
(15,062 | ) | (35,933 | ) | (15,062 | ) | (131,612 | ) | ||||||||
Comprehensive Income
|
$ | 1,025,772 | $ | 597,712 | $ | 1,135,829 | $ | 885,973 |
Six Months Ended
June 30
|
||||||||
2011
|
2010
|
|||||||
Cash flows from operating activities
|
||||||||
Net earnings
|
$ | 591,826 | $ | 501,158 | ||||
Adjustments to reconcile net earnings to net cash provided by operating activities
|
||||||||
Provision for loan losses
|
600,000 | 1,038,000 | ||||||
Depreciation of premises and equipment
|
471,032 | 583,058 | ||||||
Net amortization of premuim / discount on investment securities available for sale
|
207,859 | 118,576 | ||||||
Net amortization of premium / discount on investment securities held to maturity
|
83,089 | 26,128 | ||||||
Gain on sales of investment securities available for sale, net
|
(25,104 | ) | (219,354 | ) | ||||
Loss (gain) on sale of other real estate
|
9,281 | (27,066 | ) | |||||
Originations of loans held for sale
|
(1,493,350 | ) | - | |||||
Proceeds from sales of loans held for sale
|
636,350 | - | ||||||
Stock-based compensation
|
12,446 | 13,748 | ||||||
Decrease in interest receivable
|
127,578 | 364,122 | ||||||
Decrease in other assets
|
1,474,857 | 533,366 | ||||||
Decrease in interest payable
|
(60,006 | ) | (140,721 | ) | ||||
Increase (decrease) in accrued expenses and other liabilities
|
(145,861 | ) | 54,887 | |||||
Net cash provided by operating activities
|
2,489,997 | 2,845,902 | ||||||
Cash flows from investing activities
|
||||||||
Proceeds from maturities, calls, and principal repayments of investment securities available for sale
|
4,912,042 | 13,933,798 | ||||||
Proceeds from maturities, calls, and principal repayments of investment securities held to maturity
|
2,387,586 | 5,235,000 | ||||||
Proceeds from sales of investment securities available for sale
|
5,554,800 | 6,405,693 | ||||||
Purchases of investment securities available for sale
|
(7,145,308 | ) | (28,837,863 | ) | ||||
Purchases of investment securities held to maturity
|
(6,598,997 | ) | - | |||||
Net increase in loans
|
(3,832,411 | ) | (580,138 | ) | ||||
Purchases of premises and equipment, net
|
(116,278 | ) | (40,170 | ) | ||||
Proceeds from sale of other real estate
|
814,142 | 236,846 | ||||||
Net cash used in investing activities
|
(4,024,424 | ) | (3,646,834 | ) | ||||
Cash flows from financing activities
|
||||||||
Net increase (decrease) in deposits
|
(26,289,686 | ) | 34,548,696 | |||||
Cash dividends - preferred stock
|
(103,000 | ) | (257,500 | ) | ||||
Cash dividends - common stock
|
(3,234 | ) | (3,220 | ) | ||||
Repayments of advances from FHLB Atlanta
|
(82,400 | ) | (82,400 | ) | ||||
Increase (decrease) in other borrowed funds
|
(56,571 | ) | 242,296 | |||||
Net cash provided by (used in) financing activities
|
(26,534,891 | ) | 34,447,872 | |||||
Net increase (decrease) in cash and cash equivalents
|
(28,069,318 | ) | 33,646,940 | |||||
Cash and cash equivalents, beginning of period
|
80,966,109 | 54,668,111 | ||||||
Cash and cash equivalents, end of period
|
$ | 52,896,791 | $ | 88,315,051 | ||||
Supplemental disclosures
|
||||||||
Cash paid during the period for:
|
||||||||
Interest
|
$ | 1,859,763 | $ | 2,727,801 | ||||
Income taxes
|
52,509 | 51,704 | ||||||
Noncash transactions
|
||||||||
Transfer of loans to other real estatethrough foreclosure
|
$ | 1,513,171 | $ | 1,304,139 |
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2011
|
2010
|
2011
|
2010
|
|||||||||||||
Diluted earnings per share
|
$ | 0.13 | $ | - | $ | 0.20 | $ | 0.09 | ||||||||
Weighted average common shares outstanding
|
2,325,162 | 2,279,669 | 2,319,621 | 2,277,940 | ||||||||||||
|
||||||||||||||||
Effect of the assumed exercise of stock options based on the treasury stock method using average market price
|
- | 787 | - | 787 | ||||||||||||
Total weighted average common shares and potential common stock outstanding
|
2,325,162 | 2,280,456 | 2,319,621 | 2,278,727 |
Gross
|
Gross
|
|||||||||||||||
Amortized
|
unrealized
|
unrealized
|
Fair
|
|||||||||||||
cost
|
gains
|
losses
|
value
|
|||||||||||||
June 30, 2011
|
||||||||||||||||
U.S. Treasury securities
|
$ | 20,159,111 | $ | 179,918 | $ | (42,935 | ) | $ | 20,296,094 | |||||||
U.S. government sponsored agencies
|
31,867,490 | 345,553 | (191,962 | ) | 32,021,081 | |||||||||||
State and political subdivisions
|
9,012,111 | 130,971 | (173,386 | ) | 8,969,696 | |||||||||||
Mortgage-backed securities
|
4,965,635 | - | (48,941 | ) | 4,916,694 | |||||||||||
Equity securities
|
10,153 | - | (2,713 | ) | 7,440 | |||||||||||
$ | 66,014,500 | $ | 656,442 | $ | (459,937 | ) | $ | 66,211,005 |
December 31, 2010
|
||||||||||||||||
U.S. Treasury securities
|
$ | 19,207,231 | $ | 157,497 | $ | (135,666 | ) | 19,229,062 | ||||||||
U.S. governmentsponsored agencies
|
35,391,603 | 273,654 | (497,372 | ) | 35,167,885 | |||||||||||
State and political subdivisions
|
9,744,841 | 69,416 | (447,406 | ) | 9,366,851 | |||||||||||
Mortgage-backed securities
|
5,164,961 | - | (126,710 | ) | 5,038,251 | |||||||||||
Equity securities
|
10,153 | - | (3,578 | ) | 6,575 | |||||||||||
$ | 69,518,789 | $ | 500,567 | $ | (1,210,732 | ) | $ | 68,808,624 |
Gross
|
Gross
|
|||||||||||||||
Amortized
|
unrealized
|
unrealized
|
Fair
|
|||||||||||||
cost
|
gains
|
losses
|
value
|
|||||||||||||
June 30, 2011
|
||||||||||||||||
U.S. government sponsored agencies
|
$ | 14,855,639 | $ | 331,276 | $ | (66,567 | ) | $ | 15,120,348 | |||||||
Mortgage-backed securities
|
6,535,289 | 93,052 | - | 6,628,341 | ||||||||||||
$ | 21,390,928 | $ | 424,328 | $ | (66,567 | ) | $ | 21,748,689 |
December 31, 2010
|
||||||||||||||||
U.S. government sponsored agencies
|
$ | 17,262,606 | $ | 290,222 | $ | (249,964 | ) | $ | 17,302,864 | |||||||
$ | 17,262,606 | $ | 290,222 | $ | (249,964 | ) | $ | 17,302,864 |
Less than 12 months
|
12 months or more
|
Total
|
||||||||||||||||||||||
Description of Securities
|
Fair Value
|
Unrealized losses
|
Fair Value
|
Unrealized losses
|
Fair Value
|
Unrealized losses
|
||||||||||||||||||
U.S. Treasury securities
|
$ | 3,032,344 | $ | (42,935 | ) | $ | - | $ | - | $ | 3,032,344 | $ | (42,935 | ) | ||||||||||
U.S. government sponsored agencies
|
13,241,628 | (191,962 | ) | - | - | 13,241,628 | (191,962 | ) | ||||||||||||||||
State and political subdivisions
|
2,325,159 | (53,880 | ) | 1,079,276 | (119,506 | ) | 3,404,435 | (173,386 | ) | |||||||||||||||
Mortgage-backed securities
|
4,916,694 | (48,941 | ) | - | - | 4,916,694 | (48,941 | ) | ||||||||||||||||
Equity securities
|
- | - | 7,440 | (2,713 | ) | 7,440 | (2,713 | ) | ||||||||||||||||
Total temporarily impaired securities
|
$ | 23,515,825 | $ | (337,718 | ) | $ | 1,086,716 | $ | (122,219 | ) | $ | 24,602,541 | $ | (459,937 | ) |
Less than 12 months
|
12 months or more
|
Total
|
||||||||||||||||||||||
Description of Securities |
Fair Value
|
Unrealized losses
|
Fair Value
|
Unrealized losses
|
Fair Value
|
Unrealized losses
|
||||||||||||||||||
U.S. Treasury securities
|
$ | 3,954,531 | $ | (135,666 | ) | $ | - | $ | - | $ | 3,954,531 | $ | (135,666 | ) | ||||||||||
U.S. government sponsored agencies
|
17,681,269 | (497,372 | ) | - | - | 17,681,269 | (497,372 | ) | ||||||||||||||||
State and political subdivdisions
|
4,537,904 | (289,375 | ) | 636,830 | (158,031 | ) | 5,174,734 | (447,406 | ) | |||||||||||||||
Mortgage-backed securities
|
5,038,251 | (126,710 | ) | - | - | 5,038,251 | (126,710 | ) | ||||||||||||||||
Equity securities
|
- | - | 6,575 | (3,578 | ) | 6,575 | (3,578 | ) | ||||||||||||||||
Total temporarily impaired securities
|
$ | 31,211,955 | $ | (1,049,123 | ) | $ | 643,405 | $ | (161,609 | ) | $ | 31,855,360 | $ | (1,210,732 | ) |
Less than 12 months
|
12 months or more
|
Total
|
||||||||||||||||||||||
Description of Securities
|
Fair Value
|
Unrealized losses
|
Fair Value
|
Unrealized losses
|
Fair Value
|
Unrealized losses
|
||||||||||||||||||
U.S. Government sponsored agencies
|
$ | 6,752,953 | $ | (66,567 | ) | $ | - | $ | - | $ | 6,752,953 | $ | (66,567 | ) | ||||||||||
|
||||||||||||||||||||||||
Total temporarily impaired securities
|
$ | 6,752,953 | $ | (66,567 | ) | $ | - | $ | - | $ | 6,752,953 | $ | (66,567 | ) |
Less than 12 months
|
12 months or more
|
Total
|
||||||||||||||||||||||
Description of Securities
|
Fair Value
|
Unrealized losses
|
Fair Value
|
Unrealized losses
|
Fair Value
|
Unrealized losses
|
||||||||||||||||||
U.S. Government sponsored agencies
|
$ | 7,640,567 | $ | (249,964 | ) | $ | - | $ | - | $ | 7,640,567 | $ | (249,964 | ) | ||||||||||
Total temporarily impaired securities
|
$ | 7,640,567 | $ | (249,964 | ) | $ | - | $ | - | $ | 7,640,567 | $ | (249,964 | ) |
Within 1
|
1 to 5
|
5 to 10
|
Over 10
|
|||||||||||||||||
Year
|
Years
|
Years
|
Years
|
Total
|
||||||||||||||||
Amortized Cost
|
||||||||||||||||||||
U.S. Treasury securities
|
$ | 8,013,619 | $ | 8,062,098 | $ | 4,083,394 | $ | - | $ | 20,159,111 | ||||||||||
U.S. governement sponsored agencies
|
- | 18,572,835 | 13,294,655 | - | 31,867,490 | |||||||||||||||
State and political subdivisions
|
149,935 | 563,866 | 2,988,833 | 5,309,477 | 9,012,111 | |||||||||||||||
Mortgage-backed securities
|
- | - | - | 4,965,635 | 4,965,635 | |||||||||||||||
Equity securities
|
10,153 | - | - | - | 10,153 | |||||||||||||||
Total
|
$ | 8,173,707 | $ | 27,198,799 | $ | 20,366,882 | $ | 10,275,112 | $ | 66,014,500 | ||||||||||
Fair Value
|
||||||||||||||||||||
U.S. Treasury securities
|
$ | 8,049,688 | $ | 8,194,844 | $ | 4,051,562 | $ | - | $ | 20,296,094 | ||||||||||
U.S. governement sponsored agencies
|
- | 18,705,727 | 13,315,354 | - | 32,021,081 | |||||||||||||||
State and political subdivisions
|
150,963 | 590,135 | 3,009,989 | 5,218,609 | 8,969,696 | |||||||||||||||
Mortgage-backed securities
|
- | - | - | 4,916,694 | 4,916,694 | |||||||||||||||
Equity securities
|
7,440 | - | - | - | 7,440 | |||||||||||||||
Total
|
$ | 8,208,091 | $ | 27,490,706 | $ | 20,376,905 | $ | 10,135,303 | $ | 66,211,005 | ||||||||||
Total Average Yield
|
1.04 | % | 1.64 | % | 2.84 | % | 3.88 | % | 2.28 | % |
Within 1
|
1 to 5
|
5 to 10
|
Over 10
|
|||||||||||||||||
Year
|
Years
|
Years
|
Years
|
Total
|
||||||||||||||||
Amortized Cost
|
||||||||||||||||||||
U.S. government sponsored agencies
|
$ | 999,913 | $ | 7,036,207 | $ | 6,819,519 | $ | - | $ | 14,855,639 | ||||||||||
Mortgage-backed securities
|
- | - | - | 6,535,289 | 6,535,289 | |||||||||||||||
Total
|
$ | 999,913 | $ | 7,036,207 | $ | 6,819,519 | $ | 6,535,289 | $ | 21,390,928 | ||||||||||
Fair Value
|
||||||||||||||||||||
U.S. government sponsored agencies
|
$ | 1,009,525 | $ | 7,357,871 | $ | 6,752,952 | $ | - | $ | 15,120,348 | ||||||||||
Mortgage-backed securities
|
- | - | - | 6,628,341 | 6,628,341 | |||||||||||||||
Total
|
$ | 1,009,525 | $ | 7,357,871 | $ | 6,752,952 | $ | 6,628,341 | $ | 21,748,689 | ||||||||||
Total Average Yield
|
2.02 | % | 2.76 | % | 2.11 | % | 3.16 | % | 2.64 | % |
Three Months Ended
|
Six Months Ended
|
|||||||||||||||
June 30,
|
June 30,
|
|||||||||||||||
2011
|
2010
|
2011
|
2010
|
|||||||||||||
Gross gains realized
|
$ | 25,697 | $ | 69,583 | $ | 25,697 | $ | 306,058 | ||||||||
Gross losses realized
|
(593 | ) | (9,694 | ) | (593 | ) | (86,704 | ) | ||||||||
Net gain (loss) realized
|
$ | 25,104 | $ | 59,889 | $ | 25,104 | $ | 219,354 |
June 30,
|
December 31,
|
|||||||
2011
|
2010
|
|||||||
Federal Home Loan Bank stock
|
$ | 946,700 | $ | 1,046,700 | ||||
First National Bankers' Bank stock
|
825,000 | 825,000 | ||||||
$ | 1,771,700 | $ | 1,871,700 |
June 30,
|
December 31,
|
|||||||
2011
|
2010
|
|||||||
Real estate:
|
||||||||
Construction and land loans
|
$ | 36,081,554 | $ | 36,825,855 | ||||
Farmland
|
30,286,286 | 30,269,876 | ||||||
1-4 family residential mortgage
|
56,879,895 | 58,342,993 | ||||||
Multifamily
|
3,478,769 | 3,082,066 | ||||||
Commercial
|
72,848,376 | 73,800,481 | ||||||
Agriculture
|
24,012,923 | 12,633,816 | ||||||
Commercial
|
22,146,804 | 29,413,147 | ||||||
Consumer
|
14,027,496 | 13,597,817 | ||||||
States and political subdivisions
|
3,899,262 | 3,735,144 | ||||||
Other loans
|
94,018 | 69,620 | ||||||
Gross loans held for investment
|
263,755,383 | 261,770,815 | ||||||
Allowance for loan losses
|
(5,405,326 | ) | (5,139,998 | ) | ||||
Net loans held for investment
|
258,350,057 | 256,630,817 | ||||||
Loans held for sale
|
857,000 | - | ||||||
Total loans
|
$ | 259,207,057 | $ | 256,630,817 |
June 30, | ||||||||
2011
|
2010
|
|||||||
Balance at beginning of year
|
5,140 | 7,436 | ||||||
Provision charged to expense
|
600 | 1,038 | ||||||
Loans charged off
|
(448 | ) | (807 | ) | ||||
Recoveries
|
113 | 74 | ||||||
Balance at end of period
|
5,405 | 7,741 |
Pass
|
Special
Mention |
Substandard
/ Doubtful |
Total
|
|||||||||||||
Real estate:
|
||||||||||||||||
Construction and land loans
|
$ | 21,355 | $ | 3,852 | $ | 10,875 | $ | 36,082 | ||||||||
Farmland
|
20,105 | 5,049 | 5,132 | 30,286 | ||||||||||||
1-4 family residential mortgage
|
51,406 | 4,171 | 1,303 | 56,880 | ||||||||||||
Multifamily
|
3,479 | - | - | 3,479 | ||||||||||||
Commercial
|
50,770 | 12,183 | 9,895 | 72,848 | ||||||||||||
Agriculture
|
18,641 | 3,480 | 1,892 | 24,013 | ||||||||||||
Commercial
|
19,902 | 774 | 1,471 | 22,147 | ||||||||||||
Consumer
|
13,941 | 63 | 23 | 14,027 | ||||||||||||
States and political subdivisions
|
3,899 | - | - | 3,899 | ||||||||||||
Other loans
|
94 | - | - | 94 | ||||||||||||
Total
|
$ | 203,592 | $ | 29,572 | $ | 30,591 | $ | 263,755 |
Pass
|
Special
Mention |
Substandard
/ Doubtful |
Total
|
|||||||||||||
Real estate:
|
||||||||||||||||
Construction and land loans
|
$ | 19,306 | $ | 4,250 | $ | 13,270 | $ | 36,826 | ||||||||
Farmland
|
18,438 | 6,352 | 5,480 | 30,270 | ||||||||||||
1-4 family residential mortgage
|
52,544 | 3,538 | 2,261 | 58,343 | ||||||||||||
Multifamily
|
3,082 | - | - | 3,082 | ||||||||||||
Commercial
|
53,704 | 12,026 | 8,070 | 73,800 | ||||||||||||
Agriculture
|
8,807 | 2,110 | 1,717 | 12,634 | ||||||||||||
Commercial
|
21,853 | 3,223 | 4,337 | 29,413 | ||||||||||||
Consumer
|
13,335 | 65 | 198 | 13,598 | ||||||||||||
States and political subdivisions
|
3,735 | - | - | 3,735 | ||||||||||||
Other loans
|
65 | - | 5 | 70 | ||||||||||||
Total
|
$ | 194,869 | $ | 31,564 | $ | 35,338 | $ | 261,771 |
June 30,
|
December 31,
|
|||||||
2011
|
2010
|
|||||||
Non-accrual loans:
|
||||||||
Real estate:
|
||||||||
Construction, land development, and other land loans
|
$ | 7,948 | $ | 8,966 | ||||
Farmland
|
851 | 1,210 | ||||||
1-4 family residential mortgage
|
508 | 801 | ||||||
Multifamily
|
- | - | ||||||
Commercial
|
2,998 | 2,803 | ||||||
Agriculture
|
1,468 | 1,603 | ||||||
Commercial
|
1,371 | 2,162 | ||||||
Consumer
|
2 | - | ||||||
States and political subdivisions
|
- | - | ||||||
Other loans
|
- | - | ||||||
Total nonaccrual loans
|
$ | 15,146 | $ | 17,545 |
June 30,
|
December 31,
|
|||||||
2011
|
2010
|
|||||||
Allowance for loan losses:
|
||||||||
Real estate:
|
||||||||
Construction, land development, and other land loans
|
$ | 2,298 | $ | 2,176 | ||||
Farmland
|
147 | 119 | ||||||
1-4 family residential mortgage
|
557 | 576 | ||||||
Multifamily
|
8 | 7 | ||||||
Commercial
|
1,209 | 1,100 | ||||||
Agriculture
|
293 | 201 | ||||||
Commercial
|
714 | 772 | ||||||
Consumer
|
167 | 178 | ||||||
States and political subdivisions
|
9 | 9 | ||||||
Other loans
|
3 | 2 | ||||||
Total allowance for loan losses
|
$ | 5,405 | $ | 5,140 |
June 30,
|
June 30,
|
|||||||
2011
|
2010
|
|||||||
Average amount of loans outstanding, net
|
$ | 264,795 | $ | 282,441 | ||||
Reserve for loan losses:
|
||||||||
Beginning balance
|
$ | 5,140 | $ | 7,436 | ||||
Loans charged off:
|
||||||||
Real estate:
|
||||||||
Construction and land loans
|
(41 | ) | (188 | ) | ||||
Farmland
|
- | - | ||||||
1-4 family residential mortgage
|
(199 | ) | (238 | ) | ||||
Multifamily
|
- | - | ||||||
Commercial
|
(109 | ) | (29 | ) | ||||
Agriculture
|
(17 | ) | - | |||||
Commercial
|
(39 | ) | (241 | ) | ||||
Consumer
|
(42 | ) | (107 | ) | ||||
States and political subdivisions
|
- | - | ||||||
Other loans
|
(1 | ) | (4 | ) | ||||
Total charged off
|
(448 | ) | (807 | ) | ||||
Recoveries:
|
||||||||
Real estate:
|
||||||||
Construction and land loans
|
4 | 8 | ||||||
Farmland
|
- | - | ||||||
1-4 family residential mortgage
|
5 | 40 | ||||||
Multifamily
|
- | - | ||||||
Commercial
|
9 | - | ||||||
Agriculture
|
7 | 10 | ||||||
Commercial
|
72 | 2 | ||||||
Consumer
|
16 | 13 | ||||||
States and political subdivisions
|
- | - | ||||||
Other loans
|
- | 1 | ||||||
Total recoveries
|
113 | 74 | ||||||
Loans charged off, net
|
(335 | ) | (733 | ) | ||||
Additions to the allowance charged to operations
|
600 | 1,038 | ||||||
Ending balance
|
$ | 5,405 | $ | 7,741 | ||||
Net annualized charge offs to average loans
|
0.25 | % | 0.52 | % |
Unpaid
|
Interest
|
|||||||||||||||
Recorded
|
Principal
|
Related
|
Income
|
|||||||||||||
Investment
|
Balance
|
Allowance
|
Recognized
|
|||||||||||||
With no specific allowance reserved
|
||||||||||||||||
Real estate:
|
||||||||||||||||
Construction and land loans
|
$ | 229 | $ | 229 | $ | - | $ | 2 | ||||||||
Farmland
|
663 | 663 | - | - | ||||||||||||
1-4 family residential mortgage
|
427 | 427 | - | - | ||||||||||||
Multifamily
|
- | - | - | - | ||||||||||||
Commercial
|
314 | 314 | - | 11 | ||||||||||||
Agriculture
|
1,352 | 1,352 | - | - | ||||||||||||
Commercial
|
113 | 632 | - | 1 | ||||||||||||
Consumer
|
207 | 207 | - | - | ||||||||||||
States and political subdivisions
|
- | - | - | - | ||||||||||||
Other loans
|
- | - | - | - | ||||||||||||
Total
|
$ | 3,305 | $ | 3,824 | $ | - | $ | 14 |
Unpaid
|
Interest
|
|||||||||||||||
Recorded
|
Principal
|
Related
|
Income
|
|||||||||||||
Investment
|
Balance
|
Allowance
|
Recognized
|
|||||||||||||
With specific allowance reserved
|
||||||||||||||||
Real estate:
|
||||||||||||||||
Construction and land loans
|
$ | 8,697 | $ | 10,300 | $ | 1,181 | $ | 36 | ||||||||
Farmland
|
147 | 147 | 69 | - | ||||||||||||
1-4 family residential mortgage
|
634 | 634 | 56 | 26 | ||||||||||||
Multifamily
|
- | - | - | - | ||||||||||||
Commercial
|
2,889 | 2,889 | 665 | - | ||||||||||||
Agriculture
|
116 | 116 | 65 | - | ||||||||||||
Commercial
|
1,382 | 2,632 | 495 | 3 | ||||||||||||
Consumer
|
- | - | - | - | ||||||||||||
States and political subdivisions
|
- | - | - | - | ||||||||||||
Other loans
|
- | - | - | - | ||||||||||||
Total
|
$ | 13,865 | $ | 16,718 | $ | 2,531 | $ | 65 |
Unpaid
|
Interest
|
|||||||||||||||
Recorded
|
Principal
|
Related
|
Income
|
|||||||||||||
Investment
|
Balance
|
Allowance
|
Recognized
|
|||||||||||||
Total Impaired Loans
|
||||||||||||||||
Real estate:
|
||||||||||||||||
Construction and land loans
|
$ | 8,926 | $ | 10,529 | $ | 1,181 | $ | 38 | ||||||||
Farmland
|
810 | 810 | 69 | - | ||||||||||||
1-4 family residential mortgage
|
1,061 | 1,061 | 56 | 26 | ||||||||||||
Multifamily
|
- | - | - | - | ||||||||||||
Commercial
|
3,203 | 3,203 | 665 | 11 | ||||||||||||
Agriculture
|
1,468 | 1,468 | 65 | - | ||||||||||||
Commercial
|
1,495 | 3,264 | 495 | 4 | ||||||||||||
Consumer
|
207 | 207 | - | - | ||||||||||||
States and political subdivisions
|
- | - | - | - | ||||||||||||
Other loans
|
- | - | - | - | ||||||||||||
Total
|
$ | 17,170 | $ | 20,542 | $ | 2,531 | $ | 79 |
Unpaid
|
Interest
|
|||||||||||||||
Recorded
|
Principal
|
Related
|
Income
|
|||||||||||||
Investment
|
Balance
|
Allowance
|
Recognized
|
|||||||||||||
With no specific allowance reserved
|
||||||||||||||||
Real estate:
|
||||||||||||||||
Construction and land loans
|
$ | 2,748 | $ | 3,948 | $ | - | $ | 2 | ||||||||
Farmland
|
3,485 | 3,485 | - | 55 | ||||||||||||
1-4 family residential mortgage
|
1,320 | 1,320 | - | 42 | ||||||||||||
Multifamily
|
- | - | - | - | ||||||||||||
Commercial
|
256 | 256 | - | 11 | ||||||||||||
Agriculture
|
1,338 | 1,338 | - | 45 | ||||||||||||
Commercial
|
1,157 | 3,168 | - | 12 | ||||||||||||
Consumer
|
- | - | - | - | ||||||||||||
States and political subdivisions
|
- | - | - | - | ||||||||||||
Other loans
|
- | - | - | - | ||||||||||||
Total
|
$ | 10,304 | $ | 13,515 | $ | - | $ | 167 |
Unpaid
|
Interest
|
|||||||||||||||
Recorded
|
Principal
|
Related
|
Income
|
|||||||||||||
Investment
|
Balance
|
Allowance
|
Recognized
|
|||||||||||||
With specific allowance reserved
|
||||||||||||||||
Real estate:
|
||||||||||||||||
Construction and land loans
|
$ | 6,813 | $ | 7,315 | $ | 1,029 | $ | 95 | ||||||||
Farmland
|
150 | 150 | 33 | 5 | ||||||||||||
1-4 family residential mortgage
|
223 | 223 | 129 | 9 | ||||||||||||
Multifamily
|
- | - | - | - | ||||||||||||
Commercial
|
2,871 | 2,871 | 565 | 61 | ||||||||||||
Agriculture
|
252 | 252 | 74 | 14 | ||||||||||||
Commercial
|
987 | 987 | 445 | 8 | ||||||||||||
Consumer
|
- | - | - | - | ||||||||||||
States and political subdivisions
|
- | - | - | - | ||||||||||||
Other loans
|
- | - | - | - | ||||||||||||
Total
|
$ | 11,296 | $ | 11,798 | $ | 2,275 | $ | 192 |
Unpaid
|
Interest
|
|||||||||||||||
Recorded
|
Principal
|
Related
|
Income
|
|||||||||||||
Investment
|
Balance
|
Allowance
|
Recognized
|
|||||||||||||
Total Impaired Loans
|
||||||||||||||||
Real estate:
|
||||||||||||||||
Construction and land loans
|
$ | 9,561 | $ | 11,263 | $ | 1,029 | $ | 97 | ||||||||
Farmland
|
3,635 | 3,635 | 33 | 60 | ||||||||||||
1-4 family residential mortgage
|
1,543 | 1,543 | 129 | 51 | ||||||||||||
Multifamily
|
- | - | - | - | ||||||||||||
Commercial
|
3,127 | 3,127 | 565 | 72 | ||||||||||||
Agriculture
|
1,590 | 1,590 | 74 | 59 | ||||||||||||
Commercial
|
2,144 | 4,155 | 445 | 20 | ||||||||||||
Consumer
|
- | - | - | - | ||||||||||||
States and political subdivisions
|
- | - | - | - | ||||||||||||
Other loans
|
- | - | - | - | ||||||||||||
Total
|
$ | 21,600 | $ | 25,313 | $ | 2,275 | $ | 359 |
ALL
|
||||||||||||
Ending
|
Individually
|
Collectively
|
||||||||||
Balance
|
Evaluated
|
Evaluated
|
||||||||||
Real estate:
|
||||||||||||
Construction and land loans
|
$ | 1,181 | $ | 8,926 | $ | - | ||||||
Farmland
|
69 | 810 | - | |||||||||
1-4 family residential mortgage
|
56 | 1,061 | - | |||||||||
Multifamily
|
- | - | - | |||||||||
Commercial
|
665 | 3,203 | - | |||||||||
Agriculture
|
65 | 1,468 | - | |||||||||
Commercial
|
495 | 1,495 | - | |||||||||
Consumer
|
- | 207 | - | |||||||||
States and political subdivisions
|
- | - | - | |||||||||
Other loans
|
- | - | - | |||||||||
Total
|
$ | 2,531 | $ | 17,170 | $ | - |
ALL
|
||||||||||||
Ending
|
Individually
|
Collectively
|
||||||||||
Balance
|
Evaluated
|
Evaluated
|
||||||||||
Real estate:
|
||||||||||||
Construction and land loans
|
$ | 1,029 | $ | 9,561 | $ | - | ||||||
Farmland
|
33 | 3,635 | - | |||||||||
1-4 family residential mortgage
|
129 | 1,543 | - | |||||||||
Multifamily
|
- | - | - | |||||||||
Commercial
|
565 | 3,127 | - | |||||||||
Agriculture
|
74 | 1,590 | - | |||||||||
Commercial
|
445 | 2,144 | - | |||||||||
Consumer
|
- | - | - | |||||||||
States and political subdivisions
|
- | - | - | |||||||||
Other loans
|
- | - | - | |||||||||
Total
|
$ | 2,275 | $ | 21,600 | $ | - |
Past Due Loans (Accruing Interest)
|
Total
|
|||||||||||||||||||||||||||
30-59 days
|
60-89 days
|
90+ days
|
Total
|
Nonaccrual
|
Current
|
Loans
|
||||||||||||||||||||||
Real estate:
|
||||||||||||||||||||||||||||
Construction and land loans
|
$ | 393 | $ | 24 | $ | - | $ | 417 | $ | 7,948 | $ | 27,717 | $ | 36,082 | ||||||||||||||
Farmland
|
365 | - | - | 365 | 851 | 29,070 | 30,286 | |||||||||||||||||||||
1-4 family residential mortgage
|
497 | 56 | - | 553 | 508 | 55,819 | 56,880 | |||||||||||||||||||||
Multifamily
|
- | - | - | - | - | 3,479 | 3,479 | |||||||||||||||||||||
Commercial
|
1,733 | - | - | 1,733 | 2,998 | 68,117 | 72,848 | |||||||||||||||||||||
Agriculture
|
34 | - | - | 34 | 1,468 | 22,511 | 24,013 | |||||||||||||||||||||
Commercial
|
37 | - | - | 37 | 1,371 | 20,739 | 22,147 | |||||||||||||||||||||
Consumer
|
49 | 14 | - | 63 | 2 | 13,962 | 14,027 | |||||||||||||||||||||
States and political subdivisions
|
- | - | - | - | - | 3,899 | 3,899 | |||||||||||||||||||||
Other loans
|
- | - | - | - | - | 94 | 94 | |||||||||||||||||||||
Totals
|
$ | 3,108 | $ | 94 | $ | - | $ | 3,202 | $ | 15,146 | $ | 245,407 | $ | 263,755 |
Past Due Loans (Accruing Interest)
|
Total
|
|||||||||||||||||||||||||||
30-59 days
|
60-89 days
|
90+ days
|
Total
|
Nonaccrual
|
Current
|
Loans
|
||||||||||||||||||||||
Real estate:
|
||||||||||||||||||||||||||||
Construction and land loans
|
$ | 860 | $ | 106 | $ | - | $ | 966 | $ | 8,966 | $ | 26,894 | $ | 36,826 | ||||||||||||||
Farmland
|
2,527 | 18 | 519 | 3,064 | 1,210 | 25,996 | 30,270 | |||||||||||||||||||||
1-4 family residential mortgage
|
155 | 51 | - | 206 | 801 | 57,336 | 58,343 | |||||||||||||||||||||
Multifamily
|
- | - | - | - | - | 3,082 | 3,082 | |||||||||||||||||||||
Commercial
|
880 | 610 | - | 1,490 | 2,803 | 69,507 | 73,800 | |||||||||||||||||||||
Agriculture
|
- | - | - | - | 1,603 | 11,031 | 12,634 | |||||||||||||||||||||
Commercial
|
119 | - | - | 119 | 2,162 | 27,132 | 29,413 | |||||||||||||||||||||
Consumer
|
100 | 15 | 19 | 134 | - | 13,464 | 13,598 | |||||||||||||||||||||
States and political subdivisions
|
- | - | - | - | - | 3,735 | 3,735 | |||||||||||||||||||||
Other loans
|
1 | - | - | 1 | - | 69 | 70 | |||||||||||||||||||||
Totals
|
$ | 4,642 | $ | 800 | $ | 538 | $ | 5,980 | $ | 17,545 | $ | 238,246 | $ | 261,771 |
Shares under
option |
average
exercise price |
remaining
contractual |
||||||||||
Options outstanding, beginning of period
|
22,486 | 16.15 | ||||||||||
Granted
|
— | — | ||||||||||
Surrendered
|
— | — | ||||||||||
Exercised
|
— | — | ||||||||||
Options outstanding, end of period
|
22,486 | 16.15 | 1.7 | |||||||||
Exercisable, end of period
|
22,486 | 16.15 | 1.7 |
Shares under
option |
Weighted
average |
Weighted
average |
||||||||||
Options outstanding, beginning of period
|
4,000 | $ | 14.85 | 8.4 | ||||||||
Granted
|
— | — | ||||||||||
Surrendered
|
— | — | ||||||||||
Exercised
|
— | — | ||||||||||
Options outstanding, end of period
|
4,000 | 14.85 | 7.9 | |||||||||
Exercisable, end of period
|
2,400 | 14.85 | 7.9 |
Restricted
stock |
Weighted
average |
|||||||
Shares under grant at beginning of period
|
5,515 | 16.65 | ||||||
Granted
|
— | — | ||||||
Surrendered
|
— | — | ||||||
Vested
|
— | — | ||||||
Shares under grant at end of period
|
5,515 | 16.65 |
Fair Value Measurements at June 30, 2011 Using
|
||||||||||||||||
Assets
Measured at |
Quoted Prices
in Active Markets for |
Significant Other
Observable |
Significant
Unobservable |
|||||||||||||
AFS Securities
|
$ | 66,211,005 | $ | 20,303,534 | $ | 45,907,471 | $ | - |
Fair Value Measurements at December 31, 2010 Using
|
||||||||||||||||
Assets/Liabilities
Measured at |
Quoted Prices
in Active Markets for |
Significant Other
Observable |
Significant
Unobservable |
|||||||||||||
AFS Securities
|
$ | 68,808,624 | $ | 21,203,537 | $ | 47,605,087 | $ | - |
Carrying Value at June 30, 2011
|
Six Months Ended
|
|||||||||||||||||||
June 30, 2011
|
||||||||||||||||||||
Total gains
|
||||||||||||||||||||
Total
|
Level 1
|
Level 2
|
Level3
|
(losses)
|
||||||||||||||||
Impaired loans (1)
|
$ | 11,604,753 | $ | - | $ | - | $ | 11,604,753 | $ | (576,632 | ) | |||||||||
Foreclosed assets
|
10,853,521 | - | - | 10,853,521 | (9,281 | ) |
Carrying Value at December 31, 2010
|
Twelve Months Ended
|
|||||||||||||||||||
December 31, 2010
|
||||||||||||||||||||
Total
|
||||||||||||||||||||
Total
|
Level 1
|
Level 2
|
Level3
|
losses
|
||||||||||||||||
Impaired loans
|
$ | 11,367,697 | $ | - | $ | - | $ | 11,367,697 | $ | (4,023,954 | ) | |||||||||
Foreclosed assets
|
10,163,992 | - | - | 10,163,992 | (199,999 | ) |
June 30, 2011
|
December 31, 2010
|
|||||||||||||||
Carrying
amount |
Estimated
fair value |
Carrying
amount |
Estimated
fair value |
|||||||||||||
Financial assets:
|
(Dollars in Thousands)
|
|||||||||||||||
Cash and short–term investments
|
$ | 52,897 | $ | 52,897 | $ | 80,966 | $ | 80,966 | ||||||||
Investment securities
|
87,602 | 87,960 | 86,071 | 86,111 | ||||||||||||
Loans held for sale
|
857 | 857 | — | — | ||||||||||||
Loans held for investment,net of the allowance for loan losses
|
258,350 | 261,706 | 256,631 | 264,155 | ||||||||||||
Bank owned life insurance
|
2,900 | 2,900 | 2,845 | 2,845 | ||||||||||||
Correspondent bank stock
|
1,772 | 1,772 | 1,872 | 1,872 | ||||||||||||
Accrued interest receivable
|
2,065 | 2,065 | 2,193 | 2,193 | ||||||||||||
Financial liabilities:
|
||||||||||||||||
Deposits
|
390,743 | 393,845 | 417,033 | 420,546 | ||||||||||||
Other borrowed funds
|
888 | 888 | 944 | 944 | ||||||||||||
FHLB advances
|
1,198 | 1,336 | 1,280 | 1,534 | ||||||||||||
Subordinated Debt
|
10,310 | 10,310 | 10,310 | 10,310 | ||||||||||||
Accrued interest payable
|
343 | 343 | 403 | 403 |
June 30,
2011 |
Well Capitalized Treatment
|
|||||||
United Bancorporation of Alabama, Inc.
|
||||||||
Total risk-based capital
|
15.28 | % | N/A | |||||
Tier 1 risk-based capital
|
14.04 | N/A | ||||||
Leverage Ratio
|
9.17 | N/A | ||||||
United Bank
|
||||||||
Total risk-based capital
|
15.27 | % | 10.00 | % | ||||
Tier 1 risk-based capital
|
14.02 | 6.00 | ||||||
Leverage ratio
|
9.21 | 5.00 |
June 30,
|
||||
2011
|
||||
Commitments to extend credit
|
$ | 34,866,693 | ||
Standby letters of credit
|
1,406,922 |
(a)
|
Exhibits.
|
31.1
|
Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
31.2
|
Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
32.1
|
Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350,adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002
|
32.2
|
Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002
|
|
101.INS
|
Instance Document
|
|
101.SCH
|
XBRL Taxonomy Extension Schema Document
|
|
101.CAL
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
101.DEF
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
101.LAB
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
101.PRE
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
UNITED BANCORPORATION OF ALABAMA, INC.
|
|||
Date: August 12, 2011 | |||
|
|
/s/ Robert R. Jones, III
|
|
Robert R. Jones, III | |||
President and Chief Executive Officer | |||
/s/ Allen O. Jones, Jr.
|
|||
Allen O. Jones, Jr. | |||
Senior Vice President and Chief Financial Officer |
EXHIBIT NUMBER | DESCRIPTION | ||
Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|||
Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|||
Certification pursuant to 18 U.S.C. Section 1350, adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002
|
|||
Certification pursuant to 18 U.S.C. Section 1350, adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002
|
|||
101.INS
|
Instance Document | ||
101.SCH | XBRL Taxonomy Extension Schema Document | ||
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document | ||
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document | ||
101.LAB | XBRL Taxonomy Extension Label Linkbase Document | ||
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document |