On an overall basis, total assets increased from a projected balance of $115MM on January 1, 2002 to $159MM on December 31, 2002.
The investment securities portfolio is anticipated to be $19MM as of December 31, 2002.
Projected loan volume increase during 2002 is from $92MM to $127MM.
Cash and Cash Equivalents
Due From Banks ? With the loan portfolio increasing by nearly $35MM and total deposits projected to increase by $27MM, a larger cash letter is anticipated.
Due From Banks ? Int Bearing ? These funds are primarily FHLB deposits. The budget reflects a decrease in the balance by $100M per month during the entire year. The decrease is due to servicing interest on the advances netted against security interest payments.
Fed Funds Sold ? Plug.
Pending Loan Disbursements ? With the increase in loan production for 2002, the % of PLD to total cash and cash equivalents is anticipated to double from 14% at 1/1/02 to 28% at 12/31/02.
Investment Securities
With the exception of Equity Securities, each security type retains its pro rata share of the entire portfolio at both the beginning of the year and at year end. No assumptions are made for called securities. Each security type reflects the maturing schedule as provided by HFW. Securities are added to the portfolio randomly.
Equity Securities are increased when a new FHLB advance is added.
Loans
Commercial Loans ? The total C/L portfolio reflects new loan volume of $23.5 million during 2002. This growth is reduced by an anticipated prepayment rate of 21.28%.
Consumer/H.E. Loans ? Growth in this area parallels the growth in total assets (39.13%).
Mortgage Loans ? The total M/L portfolio reflects ...