Stone Bancshares, Inc.

Consolidated Balance Sheets

(in thousands)

(Unaudited) June 30, 2017

December 31, 2016

ASSETS

Cash and due from banks

$ 2,022   

$ 2,197   

Investments and federal funds sold

17,908   

12,610   

Loans and leases

164,006   

123,450   

Allowance for loan and lease losses

(2,224)  

(1,548)  

Net loans

161,782   

121,902   

Premises and equipment

8,504   

7,008   

Goodwill and intangibles

939   

939   

Federal Home Loan Bank stock

1,118   

1,005   

Foreclosed assets held for sale

1,026   

112   

Other assets

8,166   

6,777   

Total assets

$ 201,465   

$ 152,549   

LIABILITIES AND STOCKHOLDER'S EQUITY

Total deposits

$ 158,267   

$ 112,660   

Total borrowings

22,700   

20,600   

Accrued interest

95   

66   

Other liabilities

1,123   

1,477   

Total liabilities

182,186   

134,803   

Stockholder's equity:

Common stock

14   

14   

Treasury stock

(50)  

0   

Additional paid in capital

17,267   

16,042   

Retained earnings

2,061   

1,865   

Unrealized gains/(losses)

(13)  

(174)  

Total equity

19,279   

17,747   

    Total liabilities and equity

$ 201,465   

$ 152,549   

Stone Bancshares, Inc.

Consolidated Statements of Income

(in thousands)

(Unaudited) For the 6 Months Ended June 30, 2017

For the Period Ended December 31, 2016

Interest income

Loans

$ 4,228   

$ 5,520   

Investment securities, federal funds sold, and interest bearing deposits

143   

141   

Total interest income

4,371   

5,660   

Interest expense

Deposits

923   

860   

Other borrowings

135   

180   

Total interest expense

1,058   

1,040   

Net interest income

3,313   

4,620   

Provision for loan and lease losses

858   

895   

Net interest income after provision for loan and lease losses

2,455   

3,725   

Non interest income

Gain on sale of loans

1,982   

4,877   

Other

326   

369   

Total non interest income

2,308   

5,245   

Non interest expense

Compensation and related expenses

1,695   

2,635   

Occupancy

362   

428   

Other

1,757   

2,827   

Total non interest expense

3,814   

5,891   

Income before taxes

949   

3,080   

Provision for income taxes

345   

1,215   

Net income

$ 603   

$ 1,865