Monthly Report to the Board of Directors of the
Tryon Federal Savings & Loan Ass’n.
Tryon, North Carolina
For the Month Ended, March 31st, 1941
Assets
FIRST MORTGAGE LOANS:
Direct reduction loans.—, $302,377.22
Loans secured by shares .... 1,050.00
INVESTMENT SECURITIES:
Stock in F. H. L. B 3,200.00
Cash on hand and in banks 503.16
Furniture, Fixtures and Equipment... 125.60
Current operating expense 1,678.59
TOTAL ASSETS - - $308,934.57
Liabilities
Total private shares ... ....$233,407,70
Home Owner’s Loan Corporation
Investment —1 .... 51,500.00
Accounts payable 163.69
Loans in process ....- 4,282.84
Specific Reserves:
Uncollected interest ... .... 585.36
General Reserves:
Federal insurance .... 1,160.95
Contingencies ..... 5,000.00
Bonus on shares .... 55.46
Undivided profits ......:. 8,143.32
Current income (total) .... 4,635.25
TOTAL LIABILITIES ....$308,934.57
TRYON FEDERAL SAVINGS &
LOAN ASSOCIATION