Page 8 - CP ANNUAL REPORT WEB 2021
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STATEMENT OF FINANCIAL CONDITION
Coosa Pines provided extensions on loans totaling over $5 million, giving members ASSETS
the time needed to recover without worrying about monthly loan payments. Gross Loans 162,131,043
Less: Allowance for Loan Losses -921,072
NET LOANS 161,209,971
Investments & Cash 129,378,542
Fixed Assets 5,007,946
Other Assets 4,645,054
TOTAL ASSETS 300,241,513
LIABILITIES, Member Savings and Reserves
Accounts Payable 1,343,876
Notes Payable 0
Member Deposits 258,519,635
Reserves 40,378,002
TOTAL LIABILITIES AND EQUITY 300,241,513
INCOME STATEMENT
INCOME
Interest on Loans 8,396,627
Total Interest Refunds -286,342
Income from Investments 1,637,737
Other Operating Income 3,393,891
TOTAL INCOME 13,141,913
EXPENSES
Operating Expenses 8,507,703
Provision for Loan Loss 518,243
Return to Membership 1,420,886
TOTAL EXPENSES 10,446,832
INCOME FROM OPERATIONS 2,695,081
Total Non-Operating Gain/Loss -2,783
NET INCOME 2,692,298
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