Message from the CEO            Statement Of Condition            About Us


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Message from the CEO
June 30, 2010

      Headlines have been full of negative news regarding the banking industry for nearly three years. We are constantly bombarded by stories of the Mortgage Crisis, Government Bail Outs, TARP money and the continuing recession.

      While many would have you believe we are moving out of the recession, it is difficult to find any positive signs to support their claims. Unemployment figures remain high, the stock market continues its volatility, and housing prices in most markets appear stagnant at best. Banks are struggling, banks are being closed by regulators, banks are failing, and weak banks are merging with or being purchased by other stronger and better capitalized banks.

      Bank of Kirksville is one of the strong and healthy banks! We are not buying our competitors, but instead we are focusing our efforts on making sound investment and business decisions. We are a community bank! Our business model does not include using local deposits to make investments in or provide funding for projects outside our trade territory. Instead, we are committed to the people and communities we serve. Lending policies have not changed; we continue to make quality loans daily; and we have funds available for additional loans. Bring us your loan request!

      Funding for additional loans is continuous as new deposits are collected daily from both new and existing customers. As the people of Northeast Missouri evaluate their banking choices and safety of their money, many realize that the best option is Bank of Kirksville where they can “Bank on Our Strength.”

      Bank of Kirkville, a “Commitment to Excellence” since 1914.

Best regards,

Norman C. Belitz
Chief Executive Officer

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Statement of Condition
March 31, 2010

 

Assets

 

Cash & Due from Banks

9,974,856

Investment Securities-Held to Maturity

0

Investment Securities-Available for Sale

197,812,620

Other Investments

40,000

Federal Funds Sold

22,395,117

 

Loans:

 

      Loans Net of Unearned Income

207,827,717

      Allowance for Loan Losses

2,782,889

Net Loans

205,044,828

Premises and Fixed Assets

7,300,739

Other Real Estate Owned

1,127,918

Other Assets

4,766,505

 

Total Assets

448,462,583

 

Liabilities

 

Deposits:

 

      Non-Interest Bearing

43,309,674

      Interest Bearing

335,326,607

Total Deposits

378,636,281

Federal Funds Purchased & Securities
    Sold with Agreement to Repurchase

31,954,501

Other Liabilities

516,061

Total Liabilities

411,106,843

 

 

Stockholders' Equity

 

Common Stock

518,000

Surplus

1,000,000

Undivided Profits &
    Capital Reserves

34,855,960

Unrealized Gain or Loss on Securities
    Available for Sale

981,780

Total Stockholders' Equity

37,355,740

Total Liabilities &
    Stockholders' Equity

448,462,583


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About Us

      The Bank of Kirksville began as the wishful dream of a group of men sitting in the back room of the Adair County Miner's Bank of Connelsville. They dreamed of a bank with friendly service, sound financial advice, and a mission to give back to the community around them. With these ideals in place the Bank of Kirksville was issued a state charter on Christmas Eve, 1913.

      The bank took its first steps when it opened its doors on January 17, 1914 becoming the 5th bank operating in Kirksville. From the beginning, the Bank of Kirksville was closely tied to the surrounding community. The bank has always strived to offer the best service in the area and to evolve with the changing needs of the community. This dedication to our customers is reflected in the tremendous growth that the bank has seen since its inception.

      The first Statement of Condition was published in October of 1914 and showed the total assets to be $214,298.18. By 1923 the bank's total assets had more than tripled totaling $678,644.30. By 1953 when the assets totaled $5,676,490.98 it was clear to everyone that the Bank of Kirksville was the leading bank in the area. Today the bank still holds true to the ideas on which it was founded and continues to grow and expand. In December 2006 the bank's total assets were $415,259,430 and the future only looks brighter.

      Although the bank is continually growing to serve more and more people, you will never have to worry about being just a number. You will always get the benefits of a big city bank with the service of a small town friend.

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