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1977-08-15 Regular Meeting
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1977-08-15 Regular Meeting
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City Meetings
Meeting Body
City Council
Meeting Doc Type
Minutes
Date
8/15/1977
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_. ___~ <br />__ ~ __ <br />ASSETS <br />~ortgage Loans ::::::::: : : :: : :..: <br />her Loans $55,074,493.92 <br />1,260,102.77 <br />Cash on Hand and in Banks .......... 6,047,623.91 <br />Federal Home Loan Bank Stock ....... 500,000.00 <br />Prepaid FSLIC Secondary Reserve ...... 192,732.01 <br />Real Estate Interests Held for Sale <br />or Development ................ 1,570,558.98 <br />Real Estate Owned ................ 190,533.53 <br />Home Office, Buildings <br />and Equipment ................ 1,671,970.22 <br />Other Assets .................... 1,703,478.77 <br />TOTAL ASSETS ............... $68,211,494.11 <br />LIABILITIES <br />Savings Accounts ................. $49,767,426.31 <br />Notes Payable ................... 9,034,985.00 <br />Escrow for Tax and Insurance' ......... 958,336.78 <br />Loans in Process .................. 4,675,438.79 <br />Other Liabilities .................. 441,632.20 <br />Deferred Income ................. 450,600.79 <br />Permanent Stock ................. 300,000.00 <br />Surplus, Undivided Profits and <br />Reserves ..................... 2,583,074.24 <br />TOTAL LIABILITIES,CAPITAL <br />& RESERVES .................$68,211,494.11 <br />SOUTHMORE SAVINGS -SAVINGS PLANS <br />PLUS DAILY COMPOUNDING OF DIVIDENDS <br />• Passbook Account (Flexibility for Systematic Savings) ............................ 5'/a% <br />• 90 Day Notice Account .......................................................................... 59/a% <br />• 3 Month Certificate (Minimum ~1,000.00) ................................................ 53/a% <br />• 1 Year Certificate (Minimum $1,000.00) .............................................. 6'/s% <br />• 2'/s Year Certificate (Minimum ~1,000.00) .............................................. 6s/a% <br />• 4 Year Certificate (Minimum $1,000.00) .............................................. 7'/s% <br />` • 6 Year Certificate (Minimum ~1,000.00) .............................................. 7'Ya% ~ NOME! <br />rc <br />THESE ARE THE HIGHEST RATES PERMITTED BY GOVERNMENT REGULATIONS s O= <br />A substantial interest penalty is required for early withdrawal of Certificate accounts. <br />hNIM 1nlry. { lW MIrt1 W,. <br />ACCOUNTS INSURED UP TO 540,000.00 BY THE FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION ~4,~, `~, <br />rf~Y~ufM,1M AN INSTRUMENTALITY OF THE UNITED STATES GOVERNMENT ~ S'IS <br />
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