Baker Boyer Bancorp : 2021 Audited Financials

Baker Boyer Bancorp and Subsidiary Consolidated Financial Report

December 31, 2021 and 2020

Contents

Report of Independent Auditors ....................................................... 3-4

Consolidated Financial Statements

Consolidated Balance Sheets ................................................................ . 5

Consolidated Statements of Income ........................................................ 6

Consolidated Statements of Comprehensive Income ............................... 7

Consolidated Statements of Shareholders' Equity ................................... 8

Consolidated Statements of Cash Flows ............................................ 9-10

Notes to Consolidated Financial Statements ..................................... 11-44

Consolidated Financial Statements

Baker Boyer Bancorp and Subsidiary

Consolidated Balance Sheets

Dollars in Thousands, except per share amounts

December 31,
Assets
Cash and cash equivalents	$5,474
Interest-bearing deposits at other financial institutions	132,903
Debt securities available for sale, at fair value	308,474
Debt securities held to maturity, at cost (fair value $1,360 and $1,371)	1,330
Other restricted stock, at cost	1,529
Loans	339,793
Allowance for credit losses	(6,532)
Net Loans	333,261
Premises and equipment, net	22,463
Accrued interest receivable	2,786
Deferred tax assets, net	1,294
Other assets	3,014
Total Assets	$812,528
Liabilities and Shareholders' Equity
Deposits:
Demand, non-interest-bearing	$283,316
Savings and interest-bearing demand	413,318
Time	28,154
Total Deposits	724,788
Accrued interest payable	12
Securities sold under agreements to repurchase	27,985
Other liabilities	557
Total Liabilities	753,342
Commitments and Contingencies (Note 11)
Shareholders' Equity
Common stock (no par value, stated value $3.125 per share);
authorized 4,000,000 shares; issued and outstanding:

2021

2020

$4,581

162,973

186,811

1,322

1,355

347,137

(6,351) 340,786

22,125 2,573 417 2,736

$725,679

$257,283 359,276 30,956 647,515

16 15,676 1,235

664,442

2021 - 1,298,520 shares issued and 1,282,460 shares outstanding;

2020 - 1,292,095 shares issued and 1,277,501 shares outstanding	4,062	4,042
Additional paid-in capital	476	159
Retained earnings	55,894	54,772
Accumulated other comprehensive (loss) income, net of tax	(1,246)	2,264
Total Shareholders' Equity	59,186	61,237
Total Liabilities and Shareholders' Equity	$812,528	$725,679
The accompanying notes are an integral part of these consolidated financial statements.
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