2-THE CAROLINA TIMES—SATURDAY, AUGUST 7. 1993
CONSOLIDATED REPORT OF CONDITION
Mechanics and Farmers Bank
DURHAM, NORTH CAROLINA
Including Domestic Subsidiaries
at the close of business on June 30,1993
ASSETS
Cash and balances due from depository institutions:
Noninterest-bearing balances and currency and coin $6,813,000.00
Securities $29,751,000.00
Federal funds sold & securities purchased under agreements to resell in
domestic offices of the bank & of its Edge & Agreement subsidiaries &
in IBFs:
Federal funds sold 3,700,000.00
Loans and lease financing receivables:
Loans and leases, net of unearned income 70,228,000.00
’ LESS: Allowance fqr loan and lease losses 836!oOO.OO
Loans and leases, net of unearned income, allowance, and
69,392,000.00
Premises and fixed assets (including capitalized leases) 2,485,000.00
Other real estate owned 333 goo 00
Other assets ,629,000.00
Total assets (sum of items 1 through 11) 114,103,000.00
Total assets and losses deferred pursuant to 12 U.S.C.
''®23 (j) 114,103,000.00
Deposits:
in domestic offices....
Nonirterest-bearing.,
Interest-bearing
Other liabilities
Total liaailities
LIABILITIES
.100,943,000.00
...21,306,000.00
...79,637,000.00
1,358,000.00
.102,301,000.00
EQUITY CAPITAL
Commo 1 stock
(No. of shares)
a. Authorized 1,000,000
b. Oufstanding 569,220
Surplus 3
2,846,000.00
154,000.00
5,802,000.00
11,802,000.00
Undivided profits and capital reserves.
Total equity capital.
Total equity capital and losses deferred pursuant to 12 U.S.C,
'i) 11,802,000.00
Total liabilities, limited - life preferred
stock, equity capital, and losses deferred
EQUITY CAPITAL,
Common stock '
(No. of shares)
a. Authorized.1,000,000
b. Outstanding 569,220
Surplus
Undivided profits and capital reserves
Total equity capital
Total equity capital and losses deferred pursuant to 12 U.S.C.
W 11,802,000.00
Total liabilities, limited - life preferred
stock, equity capital, and losses deferred
pursuant to 12 U.S.C. 1823 (j) 114,103,000.00
...2,846,000.00
...3,154,000.00
...5,802,000.00
11,802,000.00
MEMORANDA
Standby letters of credit. Total. goo 00
Total deposits to the credit of the
State-of North Carolina or
any ofticial thereof
.5,407,842.37
I, the undersigned officer, do hereby declare that this Report of Condition
has been prepared in conformance with official instructions and is true
and correct to the best of my knowledge and belief.
Fohliette W. Becote, Vfce President/Comptroller
We, the undersigned directors, attest the correctness of this Report of
Condition and declare that it has been examined by us and to the best of
oiir knowledge and belief has been prepared in conformance with official
instructions and is true and correct.
J.W. Taylor J.B. Anglin, Jr. j.c. Scarborough, III
State of North Carolina, County of Durham, ss:
Sworn to and subscribed before me this 29th day of July, 1993, and I
hereby certify that I am not an officer or director of this bank.
Caroline Odessa Green, Notary Public
My commission expires August 25,1995
Mutual Communitjr^Strvings Bank, ^
Completes Initial Stock Offering ^
F.V. "Pete" Allison, Jr.,
chairman j president and chief
executive officer of Mutual
Community Savings Bank, Inc.
SSB, has; announced that Mutual
Community Savings Bank, Inc.,
SSB sucbessfully completed its
conversion from a North Carolina
chartered mutual savings bank to a
North Carolina chartered stock
savings bank.
In the conversion. Mutual sold
355,000 shares of its common st(X:k
at $10 per share.
Mutual continues to receive
national recognition by several
African American History
August 7
Meeting, Nashville, Tennesefe.
Ettriopia ^°^9f6ssman Mickey Leland died in a plane crash in
. Augusta
1866 - Polar explorer Matthew Henson bom.
1965 - Voting Rights Bill passed.
rating seivices wha
with othe^savings instij,?
savmgs bapk rec^ved ?
raung fdr J(une f,'
a^ial^Reports. w
$47.50 milhon in tantihi,
of December 31,1 A
$177,000:inprofits.“®“
On June 17, Mutual 0.
Savings Bank’s plai, ou
was approved by its
borrower'mepi^rs at,
meeting held at the mai,.
Durham. '
AUison 'said that Hj*
looks forward to using i|.!
capital base to serve the ito
customers. ^
Trident Securities, Inc 1
which assisted in oife
successfully completed
other offerings in Duiium
, Augusta
1936 - Jesse Owens won fourth gold medal at Berlin Summer
Olympics.
^ August ia
■ X'^urgood Marshall named Solicitor General,
o. « 7u' Colin Powell nominated chairman. Joint Chiefs of
Staff, the first African American to hold that post
Tracey
Receives
RICHMdND, V.
Mayes Stewart, a thirdiil
at Union Theological Sei,
Virginia,/has been named
of the Lydia Fund
August 11
black psyct?o?og°'t Fuller bom. Acknowledged as the fjrst
1921 - Arthur Haiey born. Author of Roots
cai^tol ' Georgia
Kelly
„„ . August 12
in Mi" ■ ®xc'usion of Negroes from political life began
O' "’0 B'ack Consciousness
Movement in South Africa, arrested.
r- ■ August 13
of Afro-American newspaper published.
1960 - Central African Republic gains independence from
IMPROVE YOUR BUSINESS
MANAGEMENT SKILLS
BY
ATTENDING THE
ENTREPRENEURIAL TRAINING
INSTITUTE
CONDUCTED JOINTLY BY
UDI COMMUNITY DEVELOPMENT CORPORATION AND
NORTH CAROLINA CENTRAL UNIVERSITY
A TWELVE-WEEK TRAINING COURSE
AUGUST 26, 1993 - NOVEMBER 11,1993
TUESDAY & THURSDAY EVENINGS
■ IF YOU ARE THINKING ABOUT STARTING A BUSIENSS
• IF YOU NEED A BUSINESS PLAN
• IF YOU ARE A SMALL BUSINESS OWNER
»IF YOU ARE A HOME BASED BUSINESS OWNER
TOPICS WILL INCLUDE BUSINESS PLANS H MARKETING
— MANAGEMENT PERSONNEL MANAGEMENT —TAX
— ACCOUNTING — BUDGETING — COMPUTERS
LOCATION: NORTH CAROLINA CENTRAL UNIVEflSITY
SCHOOL OF BUSINESS
****** ENROLLMENT LIMITED ’
PRE-REGISTRATION REQUIRED
TO ENROLL. CALL UDI/CDC
544-4597
(Sponsored by a HHS/ACF Grant)
GetsFelkil
AtASkT
Ms. Kelly Lynn
daughter 'of Jerome an(
McLaurin of Durhapi, v
selected to receive a D*
Eisenhower Trans
Fellowship for the
academic year. She wil
N.C. A&T State I
Greensboro in the Fall t
semester junior, whe
majoring
Economics/Transp
Management. ^
Ms. McLaurin spent la
as an intern at Dow
Company in Freeport, T
cufrentjy participating iji
intemshipi at the State I
in Washington, D.C.
The fellowship will co
tuition and fees and $1,
living expenses for nir
She will be assigned
adviser and an industry
assist her with academic aadj
advisement Ms. McLaurii
have access to a variety of rea
internship, conference and iti
opportunities provided throill
N.C. A&f State Unin
transportation program and t'
Department |Of TranspoD
student outreach piogtari^.
Total annual value bf pan
bought by Tiwota Motor Coif
for use in U.S. production, in
billions of dollars.
THE CAROLINA TIMES
L.E. AUSTIN
Editor-Publisher 1927-1971
‘ (USPS C91-380)
Kenneth W. Edmonds
General Manager
-SSL.. „ WI HI imonm kiim guuB im
TOWNSBIII MS Gn GINIUIIME JOKES (!M QIEIIFION SINE *** HI|II0SS
IM
IPIEIllVISi
pmtiiiisi
PUIIIliiltll IIIIUIIV
SPlIIll
IPPIlUiCISK
[SUIUDIIIS
iU8Ifllll[|IEIIUMilBr’>;Giirfflll[IMllll''8IOBVCOIIB[nillllMB[|liiOI
MMMSBOBiWIISINO
EH’ fMi'itmmiiiil
DiiBim
PBOWPBV
Published every Thursday |
Saturday) (except the week (oS
Christmas) in Durhaim, N.C.. byl
Publishers. Incorporated, m
address: P.O. Box 3825. Durban,
27702-3825. Office Ideated at 32
Fayettevilte,Street. Durham, N.C.2
Second Class Postage paid at Db
North Carolina 27.702.
Volume 71, Number 31
POSTMASTER: Send ai
changes to THE CAROLINA 1
P.O. Box 3826, Durham, N.C. 2
3825.
SUBSCRIPTION RATES: Ore
Durham County, Sbl 8.00 . (plus
sales tax; one year, outside ft
County. $21.00 (plus $1.32 sale
one year, out of 'state, $22.00.!
copy $.30. Postal regulations RS
advance payment on subset
Address, all communications ar^
all checks payable to; THE PAI'
TIMES. • ■
NATIONAL ADVEpTii
REPRESENTATIVE:
Publishers, Inc., 45 West 45th•
New York, New York 1003^.
AUGUST 6
Member: United Press Interns
Photo Service. North Caroljfla
Publishers Association.
Press.
Opinions expressed by column
this newspaper do not necei
represent the policy of this newsps
This newspaper WILL NOl
RESPONSIBLE for the return oil*
or manuscripts.