COOPERATIVE BANK OF SURIGAO DEL SUR

Coop Bank Tower, P. Lauron St., Mangagoy, Surigao del Sur

COMPARATIVE BALANCE SHEET

March 31, 2009

Mar-09 Feb-09

ASSETS/RESOURCES:
Cash on Hand and Bank 7,174,386.96 12,964,789.21
Loans & Receivables Net
Current 86,386,881.08 54,106,150.73
Past Due 5,464,524.78 5,367,515.11
Items in Litigation 1,624,912.22 1,626,912.22
Less: Allowance for Provision (6,346,893.15) (6,013,559.82)
Available for Sale Financial Assets 340,067.47 340,067.47
Bank Premises, FFEs, & Equipments 9,518,721.35 9,424,594.35
less: Accu. Depreciation (4,613,857.93) (4,579,737.36)
Investments 1,743,622.92 1,718,024.09
Other assets/Resources: 555,015.55 539,532.73

TOTAL ASSETS/ RESOURCES: 101,847,381.25 75,494,288.73

LIABILITIES:

Deposit liabilities 6,293,849.84 6,000,832.66

Certificate of Time Deposits 81,615,712.93 58,782,869.88
Bills Payable 9,642,108.33 9,642,108.33
Accounts Payable & other Liabilities 10,866,747.58 10,597,209.46

TOTAL LIABILITIES: 108,418,418.68 85,023,020.33

EQUITY:
Capital Stock 22,468,712.27 21,168,712.27
Reserves 1,412,717.88 712,717.88
Undivided Profit (30,958,720.67) (30,983,931.30)
Undistributed Income 506,253.09 (426,230.45)
Capital Accounts: (6,571,037.43) (9,528,731.60)

TOTAL LIABILITIES & EQUITY: 101,847,381.25 75,494,288.73

- -
Prepared & Noted by:

Felino C. Ablat, Jr.

Operations Manager
UR
el Sur

Inc/Dec

(5,790,402.25)
-
32,280,730.35
97,009.67
(2,000.00)
(333,333.33)
-
94,127.00
(34,120.57)
25,598.83
15,482.82

26,353,092.52 -

293,017.18
22,832,843.05
-
269,538.12
-
23,395,398.35

1,300,000.00
700,000.00
25,210.63
932,483.54
2,957,694.17

26,353,092.52
 COOPERATIVE BANK OF SURIGAO DEL SUR
Coop Bank Tower, P. Lauron St., Mangagoy, Surigao del Sur

Income Statement
Comparative Consolidated Comprehensive Income
for the Monh of March 2009

March 31, 2009 February 28, 2009

Interest Income
Loans & Discounts 1,915,559.67 715,887.43
Investments & Deposits 35,596.06 650.52

Total Interest Income 1,951,155.73 716,537.95

Interest Expense:
Deposit Liabilities 913,968.45 452,637.51
Borrowings 25,193.00 16,688.00

Total Interest Expense: 939,161.45 469,325.51

Net Interest Income: 1,011,994.28 247,212.44

Provision for impairment Losses (999,999.99) (666,666.66)

Net Interest income after Provision for Impairment Losses 11,994.29 (419,454.22)
Other Income:
Service charges 1,580,193.00 823,955.00
Others 348,623.14 88,301.91
Total Other Income: 1,928,816.14 912,256.91
Net Income before Operating Expenses 1,940,810.43 492,802.69
Operation Expenses:
Compensation and fringe Benefits 829,396.07 559,696.79
Depreciation/ Amortization 101,230.05 67,109.48
Other expenses 503,931.22 292,226.87
Total Operating Expenses: 1,434,557.34 919,033.14

Net Income (Loss) 506,253.09 (426,230.45)

Prepared & Noted by: -

Felino C. Ablat, Jr.

Operations Manager
O DEL SUR
Surigao del Sur

ve Income

Budget Variance

3,484,290.29 1,199,672.24
30,000.00 34,945.54
-
3,514,290.29 1,234,617.78

900,250.00 461,330.94
350,000.00 8,505.00
-
1,250,250.00 469,835.94

2,264,040.29 764,781.84
(999,999.99) (333,333.33)

1,264,040.30 431,448.51

1,569,385.12 756,238.00
530,000.00 260,321.23
2,099,385.12 640,749.09
3,363,425.42 1,448,007.74

1,093,086.45 269,699.28
105,457.38 34,120.57
1,073,479.79 211,704.35
2,272,023.62 515,524.20

1,091,401.80 932,483.54