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Financial Highlights
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The
cooperative's primary source of earnings is loans to members
throughout the State of Maine. Our business plan sets annual targets
for loan volume growth, earnings and patronage dividends to our
customers.
An
important part of our strategy is our ongoing business relationships
with a number of business partners in Maine and Farm Credit
businesses nationwide. Farm Credit businesses include: CoBank, our
$58 billion national banking partner; Farm Credit Leasing, our
national leasing company; and Financial Partners, Inc., our jointly
owned operations center. These partners are key to our success.
The
table below summarizes some of our key financial performance
measures for the second quarter of 2010. Our board measures financial
performance quarterly.
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Total loan commitments at June 30, 2010 were
$634.8 million.
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Total loan volume outstanding at June 30, 2010
of $421.5 million is $24.2 million or 6.1
percent higher than prior year.
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After-tax net income of $3.1 million at June 30,
2010 yielded an ROA (return on assets) of 2.1
percent. Our profit plan goal for 2010 is 1.6
percent.
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Our permanent capital ratio was 16.2 percent at
June 30, 2010.
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In January of this year, the cooperative's board
declared a 2009 patronage dividend totaling
$1,700,000. Distribution to eligible
stockholders was 50 percent in cash this spring
($850,000 distributed) and the remaining 50
percent to allocated surplus funds for planned
distribution in 2016.
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FINANCIAL PERFORMANCE
( $ in millions) |
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Full Year |
Quarter
2 |
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2006 |
2007 |
2008 |
2009 |
2009 |
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Total Loan Commitments |
493.9 |
511.6 |
538.6 |
622.8 |
558.4 |
634.8 |
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Total Loan Volume |
335.2 |
332.4 |
375.0 |
406.6 |
396.2 |
420.5 |
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% Acceptable |
98.9 |
98.6 |
98.7 |
97.9 |
98.4 |
97.2 |
After-Tax
Net Income |
4.1** |
3.8 |
3.8 |
4.3 |
2.3 |
3.1 |
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% Permanent Capital Ratio |
15.4 |
16.2 |
14.9 |
15.5 |
14.9 |
16.2 |
**
Included a one-time benefit to income of $469,000 due to a change in
accounting for deferred income taxes.
The Annual Report contains more detailed financial information.
You can download our selected financial reports in Adobe Acrobat format. Downloads may take several
minutes to complete, depending on
the speed of your Internet connection.
Click here to download the 2009
Annual Report
2010 Quarterly Report
to Shareholders
Quarter 1 Quarter
2
2009 Quarterly Report
to Shareholders
Quarter 1 Quarter
2
Quarter 3
Click here to download the 2008
Annual Report
Click here to download the 2007
Annual Report
The Adobe Acrobat Reader is available free. You must install this reader
on your machine before you can read our financial reports.
Download the Adobe Acrobat© Reader

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