danny management incorporated - dallas fed
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FRY.6(IrB ilum!..7100ffi7Apelw.l.rgf.. No,uilr 30, 1010Pre[ I cr2
Boed dGwcrnon of tlp Fcdcrel Rerrvc Syilem
; Annual Report of Holding Gompanies-FR Y-o
Rcport rt thc cloco of burlnor m of lhr cnd ol flrcel yeer
This Roporr b requlrcd by law: Secfron 5(cXlM) of the BankHolding CompanyAd (12 U.S.C. $ 1444(oX1XA));recfronr 8(a)and l3(a) of thc lntrnetlonal Banldng Ad (12 U.S.C. SS 3106(a)and 3108(a)); rcctona t1(a[1), 25, and 25A of 0te FoderalRmnle Ad (12 U.S.C. S$ z4qaXl), 802, and 6l1a); and soetons 113, 185,312,618, end 8m of ho Dodd#rankAnt (12 U.S.C.SS 5361, 5385, 5412, 165ft(cxl), and 5108(b[1)). Rdm to 0teappmprtab F€doral Re0snrc Bank the odginal and the number ofcopl€s lpodllcd.
Thia rryoil hm is to be ltbd by all bptier bank hofttirq compa-nies, toftis savinga and ban hoEing cmrpaniec, and U.S. Inbr-mcdbb holdirp comp.rdcc organEcd undcr U.S. law' and byany fomlgn banHng organtsatlon that doar nd moot thc raqdm'montB of and b nd Ueatad m a quallfying lbrolgn benHtg orga-ntsaton under Scc&n 211.n d Ragulafion K (12 C.F.R. S211.231. (Sse paOs one of tha genenl in&rdone br mom dstailof rvho murt tlle.) The Fcdaral Raare mry rd condud or !pon-sor, and an orgnntsatlon (or a penon) le not rsqdred b reryondto, an inftrmatlon ollecffon mlecs lt displrys a anonty rralldOMB confd numbtr
NOTE: Thc ,rlan,N Rclp6t d Hffiig Gortrams mr/st bo aigned byone dindor d hs totr06r hldlng compeny. Thi. lldvldusl shorHalso bo a rcnia oflhirl ol he @{o( holdlng oomp.ny. ln the wpnttlat tte bpter holdlng cornpany dme not hero an lndfuldual wtro isa rnlor ol[dal rtd lr dso e di]€ctor, tho dtalman dthe board muetsign he cport. lf ho holdltU oorpary b an ESOP/ESOTlbrncd ese corpoiBton or b an LLC, soe frc Gon€rd lnsfrtldiom for theauhottsod irdividud who muet rlgt ho roportl, Tommy Gunstream
Itlllil 01lh0 Hokrre Compdty oitdor rnd OltlcH
ChairmanTI0. of ll1. Holdng Coqoy Unfir md O{lldd
atbst thet tltn tunud Rryrrt d lffirg CanrW*e (includlngthe rupport[g ettmfimeda) lbr thir ]Eport dab ha boen pm-pamd tn omhfin ncc u,th thc insfrrrcilons Eilod by the FederalResoile S!/Sm and ale tue and corect b ha bcat of mylmowlcdgeand belbf.
Wih tr,sE,dro ffiuntilwr ffi,gr,rdtsttg ttfivttuds a flffi?tr(l in thistr{ptt frp Relplrff orfl,N M fr l,e8 tp atilrltily b ptovtcf tllsinfqrnafim b tu rued Recenp. The tupottal, dco sfrbcilratfrhactn attlritily, m 0chdlcf,sarlt ffihtd, bsrsgrtorobjed to pn!#c ruleene d kffion ftgrrdfrtg thtt ffinLTlp Federd fu*tw fiW acrlttrr., h frp aimrte d a nqnd bra nfunW te'ffi stbtnffi kr ,rtritds7E vtrt tp BoaftfslRl.l* Rqlrdfrtg AvrdaDffity d lrffin,'12 C.F.R M 261,t d fito Rqpoibr M. ffivflud cprtrlil b plfib r"Mg of iltffifrs ln tle tryft s@mtng hat heddud.a -4,,&-
Drt ot Rcpod (toftler holding comparvs llscalyear-end):
1U31not?llon$/ Dry/Y*rN/Ancporudr Uaea En0ty klcnutlcr (lEl) (20{hrt r.r [El Cod.)
Reporb/r Name, Stuet and MailingMOlnacc
Danny Management, lnc.
L.g.l TItc ot Hol&lg Comprry
P.O. Box 565(illffm Addil. d lh. l.blitrrg Contp.ry) Sfilrt , P.O. Eo(
Mulashoe Texas E 79347$fr Zpood.Clty
202 South FirstPtr!/dcd Locdon (trdbrutttutr rdhe d4!..)
Pemon to lytrorfl quudonc about this r€port $ouH be dlmded:Martin C. Lervis CPA
IilaN]rr806-29S4287AraOo.h,PfurNumbc,E.ffin8062937674Anr Co&/FAXNumtc
mcl@coaontheweb.com
Stguti offilg Compay DtGr.nd Ollldd
3/3012018
E{.[Addrufbmuleshoe.comArrdE (URL) fu lrr. Hok*lg Coop.nyt ltb pqp
D.b oa
For Fdrnl Rmorw Blnk Uro Onty
RSSD IDc.t.
23lLt r(1tutlc r?(Ifhg htldrr for hb Hmnlbn Gd.&n f rdn bd b vry l|ql! 1.3 b tot hqrn p.r rupo.r-, rllh ar arar d t50 ]!ult P.r lt.fE, IdfiE til b g.!lr rdr*rthdthlh. lt$*ldbilf|db ]tYhrmrdoilfrdomClf lhffineldon. S.o.lcdrltrn!ilgrth8lhbbrl,rlonodnrbanydrrrpddldrffirdMonr&r. fr.ffrigrfrt thafr.drdng!*hdrn UgroIy. BordolOor.nrstdh. ffidREFWlttZXhtrldC$..n, NW.tlfiIn*n, DC2066l.mdbh.dholfh.FilrtrndSsdg.t h.ilnrtR.drslr m.d0fl}}m4, mJfngbn, DClIFog. GJ:lott
Fthffitg crrnpanhe M,,aidcioml wil, fre SEG[ldh.b rffir otAnnu.l R@rt b Sharuholdal:
E u Inauoea urur thc FR Y4 oportE um bc rsrt unrbr rcpareb oovcr
E rnaprcperaa
trY.. 0l! @nlldcntLl trchlont mquobd lbr any porton ofthh Eport qrDmblbn?......,...ln aocodacs wttr fio Goned lnrhrc0oru lbr lhb ttDort(chedrorfyqu),
1. a lctbrJuCfyhg thb roquat lt b.lt0 ptot ldad.lo,tgwffi fte Epott..
2. a htbrlurdil4ng O|b Equo.t he3 been povldcd reparably ...
NOTE: lnbrncton hrslrhrr conidonl5 torfirrnt b behg ]lqlotbdmst be govt ed lop.flHyen,ltboltdr'ffi.'
trtr
FRY{Prg.zd2
For Use By Tlercd Holding CompaniesTqrfiondffing rrlnpilecnwtlitttp rptnce, nffing &,urr,, ail flrydal furrlflbnso/-erdlt cftfrf-rl,drddcryiddiryorpentbrWt
DG Parherehio. LtdLcOd ltlr d &ffiry HddrE Comprry
202 South First
be.l TL o,Iut irfy Hddfre CatPrry
(ilflrEAdot . dh &Dddry Hdfte Oomprty) Sh..a, P.O. Bo(
Muleshoe Texas El tgUt(llltng Attdru o, lhc &rbdd..y Holdne Colpany) Stul / P.O. Bor
EActv qil 4Oqh ott $.b 4Cod.
Phrtlarl Loo.ton 0 dlfhltltl frsn m-rg.det .)
Mulesho€ Bancshares, lnc.
Ml t oc.ton (lt dilhrnt fiqn m.{hg .ddro)
lre.l Iil. d suH(lfy Hddn! Cottprry
P.O. Box 565
L.ed il. d Sn[.[fEy }bktrg C(lr?ry
(ffl[Ar*h.. dO. E bdd.ry Hol*re Oomgrny] Strt t P.O. Bor Ohnng^ddu 40t &t ld.ry Hoadne Conp.ily) Slrr.t, P.O. Bo,.
Muleshoe Texas E zg34z EIClty
202 South First
gir 4Cod! ot, Sr! 4w
ffil Loarion (f dftltni flqtt m-re.d.ff, ) M Ls0oa flf drIlilrtllurm.the fft )
Lrgl llc d Amry Hdthe Conry tq.l Til. o{ 8lt ldl-y t.hl*rE Ciltry
(tldlneAdilu of !r. ES.kfUy Hol*te Comgny) Strct t P.O. Eot
clvE
sffi
(ll.fm Add!.. dlhr S$*nry Hddng ColtPfry) $r!d / P.O. Bq
4Cod. CltyEI
Stb 4Coir.
Phl,|lcd Locdon (lf dlh.rntltfi! nr$ltr.ddnr, Ptry.lcd Loc.{on 0f illMffilr mr{hg.ddrtr)
Lrft Tlth or Etddry Hdifre Coiltprty t e.l I0. of Srn Ehty Hd.5g Cott"ity
(mld Aer d$. gttddfy lbffte Comery) llbact, P.O. 8ot
CltyE
$rb
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crvE
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ffil Locdon (f dfnot fiun n*t dt lUl Pb'dcd kc.ton (ltilflrntlisn m.he eu)
l?1x12
DAl\tN[Y MANAGEMENT, INC.
DECEMBER 31, 2017
FR Y.6
REPTORT ITEM 2a: Oreanization Chart
Danny Managemen{ Inc.Muleshog Texas / USAIncorporated in Texas
LEI: None
1.000% Ownership in DG Partnership(General Pertner of DG Partnership, Ltd.)
DG Partnership, Ltd.Muleshog Texas / USAIncorporated in Texas
LEI: None
32.204 7o Ownership in Muleshoe)@encshares, Inc.)
Muleshoe Bancshares, Inc.Muleshog Texas / USAIncorporated in Texas
LEI: None
96.556 7o Ownership in First Bmkof Muleshoe
I'irst Bank of MuleshoeMuleshog Texes / USAIncorporated in Texas
LEI: None
NOTE: M.D. Gunstream tansferred his shares of stock in Muleshoe Bancshares, Inc. in exchangefor a 99.0Yo limited partrership interest in DG Parhrership, Ltd" effective May 15, 1995. M.D.Gunstream died May 1,2015. As per his last will and testament, his limited partnership intoest inDG Partnership, Ltd- was transferred to his two sons, Tommy Gunsteam and Danny Gunsfteano"
DECEMBER 31, 2017
FR Y-6
REPTORT ITEM 2b: Domestic BranchListing
Submitted via email 313012018.
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DAIINIY MANAGEMENT, INC.
DECEMBER 31, 2017
FRY-6
REPTORT ITEM 3: Securities Holders
(lXa)Name and Address
Tommy GunsteamMuleshoe, Texas 79347
Danny GunstreamShreveport, Louisiana 71105
Q)@)Name and Address
(lXc)Shares Owned
510
(2)(c)Shares Owned
N/A
(1Xc)% Owned
5r.00%
49.00%
(2)(c)%Oumed
(r)o)Country
USA
USA
(2Xb)Country
490
REPTORT ITEM3: Securities Holders
(l)(a)Name andAddress
Tommy Gunsteam (Limited Partrer)Muleshog TexasAJSA
Danny Gunsteam (Limited Parher)Shreveport, Louisiana/USA
Danny ManagemenL Inc. (General Partner)202 South FirstMuleshog Texas 79347
Q)@)Name and Address
DG PARTNERSHIP, LTD.
DECEMBER 31, 2017
FR Y-6
(1Xc)% Oumd
49.50%
49.50%
1.00o/o
(1Xb)Countrv
USA
USA
USA
(2Xc)Shares Owned
(2Xc)% Oumed
(2Xb)Country
N/A
MIILESTTOE BANCSHARES, rNC.
DECEMBER 31, 2017
FR Y-6
REPTORT ITEM 3: Socurities Holders
(1Xa)Name and Address
DG Partnership, Ltd-Muleshog Texas 79347
TommyGursfeamMuleshoe, Texas 79347
PhilKentMuleshoe, Teiras 79347
(2)(a)Name and Address
N/A
(1Xc)Shares Owned
12,333
5,758
3,352
(2Xc)Shares Owned
(1Xc)% Owned
32.204o/o
15.0360/o
8.753o/o
(2Xc)% Owned
(1)O)Country
USA
USA
USA
(2Xb)Country
DANNTY MANAGEMENT, INC.
DECEMBER 31, 2017
FR Y-6
REPTORTITEM4: Insid€rs
See Attached Ibr information on all holding coryanies.
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DAI\INTY MANAGEMENT, INC.
DECEMBER 31, 2OI7
FR Y.6
REPTORT ITEM 1: Anrual Reocts to Sharehold€rs'
The annual report to shareholders' consists of the attached parent company only coryarativefinancial statements for the years ending December 31,2017 and 2016.
DANNY MANAGEtf, ENT, tNC.(Parent Gompany Only)
COMPILED FINAN CIAL STATEMENTS
Yearc Ended December31,2O17 and 2016
LKRSGCEIMPANY
LEWIS, KAUFMAN. III]ID, S1'tJKtiY, CATTIS & CO,. I'.C
To the Board of DirectorsDanny Management, lnc.Muleshoe, Texas
ACCOUNTANT'S COMPI LATION REPORT
Management is responsible for the accompanying financia! statements of Danny Management, lnc. (acorporation) which comprise the balance sheets as of December 31 ,2017 and 2016 and the relatedstatements of income and changes in stockholders' equity and cash flows for the years then ended, andthe related notes to the financial statements in accordance with accounting principles generally acceptedin the United States of America. We have performed a compilation engagement in accordance withStatements on Standards for Accounting and Review Services promulgated by the Accounting andReview Services Committee of the AICPA. We did not audit or review the financia! statements nor werewe required to perform any procedures to verify the accuracy or completeness of the information providedby management. Accordingly, we do not express an opinion, a conclusion, nor provide any form ofassurance on these financial matters.
The accompanying financial statements are not intended to be the primary statements of DannyManagement, lnc. as they have been prepared in conformity with accounting principles that wouldotherwise be considered a departure from generally accepted accounting principles because theCompany's subsidiaries, DG Partnership, Ltd., Muleshoe Bancshares, lnc. and the First Bank ofMuleshoe, are not consolidated, but rather shown as an investment carried on the equity method.
Management has elected to omit substantially all of the disclosures and the statement of cash flowsrequired by accounting principles generally accepted in the United States of America. lf the omitteddisclosures and statement of cash flows were included in the financial statements, they might influencethe user's conclusions about the Company's financial position, results of operations, and cash flows.Accordingly, these financial statements are not designed for those who are not informed about suchmatters.
LauW Kaufuorv Reill, Stlt*z4t et GafiIry& Ca., ?.C.
Lewis, Kaufman, Reid, Stukey, Gattis & Co., P.C.January 31,2018
-1-
GEIg@230t3W5l1lSrtrEt't I I'l.AlNvrr,w,fX7,)072 jI'll0().2.).1.-l2l{7 | l,tt(Xr.2.)-1.707.1 I ct'A()NIlttwfB.C()M
Cashlnvestment in SubsidiaryDeferred Tax Assets
TITXLASSETS
Federal Income Tax Payable
TOTAL LIABILITIES
Stockholders' Equity:Common StockAdditional Paid-ln CapitalRetained EarningsUnrealized Gain (Loss)-AFS Securities
TOTAL STOCKHOLDERS' EQUITY
TOTAL LIABILITIES &STOCKHOLDERS' EOU
DANNY MANAGEMENT, ING.(Parent Company Only)
COMPARATIVE BALANCE SHEETSDecember 31,2017 and 2016
ASSETS
2017
$ 8,02544,858
-0-
52.883
LIAB!LITIES & PARTNERS' CAPITAL
$ -0-
2016
6,94044,752
-0-
$ 51.692
-0-
-0-
1,00019,50432,284
95
s2.883
1,00019,50431,474
(286)
-0-
51.692
$ 52.883
See Accountant's Compilation Report
-, -L
51.692
lncome:Other Income
Expenses:Professional Fees
Net Income (Loss) Before Federallncome Taxes and Equity in Incomeof Subsidiary
Federal lncome Tax (Expense) Benefit
Net lncome (Loss) Before Equity inNet Income (Loss) of Subsidiary
Equity in Net lncome of Subsidiary
Net lncome (Loss)
Retained Earnings atBeginning of Year
Prior Period AdjustmentsDividends Paid
Retaaned Eaminos at
DANNY MANAGEMENT, INC.(Parent Company Only)
STATEMENTS OF INCOME AND RETAINED EARNINGSYearc Ended December 31,2017 and 2016
2017
7
7
529
529
2016
$ 7
7
509
509
(522)
-0-
(502)
-0-
(522)
1.675
(502)
1.611
1,153
31.474
1,109
30.365
(343)-0-
-0--0-
$ 32.284
See Accountant's Compilation Report.
-3-
31_474
DG PART1\IERSIilP, LTD.
DECEMBER 31, 2017
FR Y.6
REPTORT ITEM 1: Annual Reoorts to Shareholders'
The annual report to shareholders' consists of the attached parent company only comparativefinancial statements for the years e,nding December 31,2017 and 2016.
DG PARTNERSHIP, LTD.
COMPILED FINANCIAL STATEMENTS
Years Ended December31,2017 and 2016
LKRSGCOMPANY
I.IWIS. KAI.JFMAN I{[ID, STIIKI\', G^ITIS & CO.. I].C
To the PartnersDG Partnership, Ltd.Muleshoe, Texas
ACCOUNTANT'S COMPII.ATION REPORT
Management is responsible for the accompanying financial statements of DG Partnership, Ltd.. (apartnership) which comprise the balance sheets as of December 31 ,2017 and 2016 and the relatedstatements of income and changes in stockholders' equity and cash flows for the years then ended, andthe related notes to the financial statements in accordance with accounting principles generally acceptedin the United States of America. We have performed a compilation engagement in accordance withStatements on Standards for Accounting and Review Services promulgated by the Accounting andReview Services Committee of the AICPA. We did not audit or review the financial statements norwerewe required to perform any procedures to verify the accuracy or completeness of the information providedby management. Accordingly, we do not express an opinion, a conclusion, nor provide any form ofassuranoe on these financial matters.
Management has elected to omit substantially all of the disclosures and the statement of cash flowsrequired by accounting principles generally accepted in the United States of America. lf the omitteddisclosures and statement of cash flows were included in the financial statements, they might influencethe user's conclusions about the Company's financial position, results of operations, and cash flows.Accordingly, these financial statements are not designed for those who are not informed about suchmatters.
LapW Kaufoa,rv Reilr, Sttll<ey, Qaltw& Ca., ?.C
Lewis, Kaufman, Reid, Stukey, Gattis & Co., P.C.January 31, 2018
1
cE s@2308WStlrSllu,LI I I'tAtNVilw. l'X7()()72 It'tt0()2,).l .l2li;' I l: 80().29.i.7674 I (],A()NTHlwrH.(t()M
CashAccountrs Receivablelnvestment in SubsidiaryInvestment in Certificates of Deposit
TOTAL ASSETS
DG PARTNERSHIP, LTD.
COMPARATIVE BALANGE SHEETSDecember 31,2017 and 2016
ASSETS
2017
5,478-0-
4,480,318-0-
$ 4.485,796
LIABILITIES & PARTNERS' CAPITAL
-0-
-0-
2,215,7602,215,760
44,7629.514
4.485.796
$ 4_485.796
See Acoountrant's Compilation Report.
-2-
$
2016
11,357-0-
4,463,900-0-
4.475157
-0-
-0-
2,229,3292,229,329
45,036.537)
4.475.157
4.475.157
Liabilities
TOTAL LIABILITIES
Partners' Capital:Tommy GunstreamDanny GunstreamDanny Management, lnc.Unrealized Gain (Loss) on AFS Securities
$
TOTAL PARTNERS' CAPITAL
TOTAL LIABILITIES &
DG PARTNERSHIP, LTD.
STATEMENTS OF INCOME AND PARTNERS' CAPITALYears Ended December31,2017 and 2016
2017
$
-0-
lncome:!nterest lncome
Expenses:Professional FeesMiscellaneous Expenses
Net lncome (Loss) Before Equityin lncome of Subsidiary
Equity in Net lncome of Subsidiary
l{etlneme-lloss)
Partners' Gapital at Beginning of YearCapital ContributionsCapital WithdrawalsPrior Period AdjustmentsChange in Unrealized Gain (Loss)on AFS Securities
Partners'Caoltal at En
2016
-0--0-
-0-
669
669
(66e)
168.187
167.518
4,475,157-0-
(160,606)(34,325)
38.052
$ 4 485796
See Accountiant's Compilation Report.
-3-
649-0--0-
649
(o4e)
1 61.740
't61.091
4,526,796-0-
(126,263)-0-
(86.467)
4 475 157
MTILESHOE BAI\ICSIIARES, INC.
DECEMBER 31, 2017
FR Y-6
REPTORT ITEM 1: Annual Reports to Shareholders'
The annual report to shareholders' consists of the attached parent coryany only comparativefinancial state,ments for the years e,nding December 31,2017 and 2016.
MULESHOE BANCSHARES, INC.(Parcnt GompanyOnly)
COTPILED FINAI{GIAL STATET EiITS
Years Ended December 31,2017 and 2016
TUIULESHOE BANCSHARES, ING.(Parent Gompany Only)
TABLE OF GONTENTS
Accountanfs Compilation Report
Comparative Financial Statements:
Compamtive Balance Sheets
Comparative Statements of lncome
Comparative Statements of Changes in Stockholders' Equity
Gomparative Statements of Cash Flotivs
Notes to Financial Statements
PaG
1
2
4
5
6
7
COMPANY
LLtvl\. KAtrr.NlAN. RLll). \IUKI\'. CAt I ts r\ (-tr., I'.(]
ACCOUNTANT'S COMPI LATION REPORT
The Board of DirectorsMuleshoe Bancshares, lnc.Muleshoe, Texas
Management is responsible for the accompanying financial statements of Muleshoe Bancshares, lnc. (acorporation) which comprise the balance sheets as of December 31, 2017 and 2016 and the related statementsof income and changes in stockholders' equity and cash flows for the years then ended, and the related notesto the financial statements in accordance with accounting principles generally accepted in the Unitecl States ofAmerica. We have performed a compilation engagement in accordance with Statements on Standards forAccounting and Review Services promulgated by the Accounting and Review Services Commiftee of theAICPA. We did not audit or review the financial statements nor were we required to perform any proceduresto verify the accuracy or completeness of the information provided by management. Accordingly, we do notexpress an opinion, a conclusion, nor provide any form of assurance on these financial matters.
The accompanying financial statements are not intended to be the primary statements of MuleshoeBancshares, lnc. as they have been prepared in conformig with accounting principles that would othenrise beconsidered a departure from generally accepted accounting principles because the Company's subsidiary, theFirst Bank of Muleshoe, is not consolidated but rather shown as an investment canied on the equity method.
LKRSG
Leutw Ka,ufua,ru R?il/, Shz'*ed, Qwttw€r Ca., P.C.
Lewis, Kaufrnan, Reid, Stukey, Gattis & Co., P.CJanuary 31,2018
1
GUD s@.1.J08w5ilt slt{t. l.t I l'tAtNVilw.'1 x7.)()72 r l'fl011.-t().i..{-2ti7 | ll{()rr..l()-1.767.1 | rt'rtorrililrvVl 11.(t()N,1
MULESHOE BANCSHARES, INC.(Parent Company Only)
GOMPARATIVE BALANGE SHEETSDecember 31,2017 and 2016
ASSETS
$Cunent Assets:
CashDue From Subsidiary BankPrepaid Federal lncome Taxes
lnvestments:lnvestment in First Bank of Muleshoe,Texas, 48,278 Shares (Note 1)
lntangible Assets:Goodwill, Less Accum ulated Amortization
of $406,790 and $406,790, respectively
Total Assets
2017 2016
36,051-0-
M.814
35,81316,180
-0-
100,865
13,630,389
246.050
51,993
13,579,334
246.050
$ 13977 3M
See Accountants' Compilation Report and Notes to Financial Statements
-2-
13 877 377
MULESHOE BANCSHARES, INC.(Parent Company Only)
GOTIPARATIVE BALANGE SHEETSDecember 31,2017 and 2016
LIABILITIES & STOCKHOLDERS' EOUITY
2017 20'16
Cunent Liabilities:Amount Due Subsidiary Banklncome Taxes Payable
Term Debt (Note 3)
Stockholders' Equity:8% Cumulative Prefened Stock, ParValue $35; Authorized 31,747 Shares;-0- and -0- Shares lssued andOutstanding, Respectively
Common stock, Par Value $1 0; Authorized48,426 Shares; 38,297 Shareslssued and Outstanding
Additional Paid-ln CapitalRetained EamingsTreasury StockUnrealized Gain (Loss) on Available-For-Sale Securities (net of tax)
$ u,814-0-
-0-16.180
u,814
-0-
382,970170,651
13,329,326-0-
29.ils
16,180
-0-
382,970170,651
13,396,191-0-
(88.615)
-0--0-
Total Stockholders' Equity 13.912.490 13.861.197
Total Liabilities and Stockholders' Equity $ 13.977.304 ___73.827-3n
See Accountants' Compilation Report and Notes to Financial Statements
-3-
MULESHOE BANCSHARES, INC.(Parcnt Company Only)
COMPARATIVE STATEMEiITS OF INCOMEYearc Ended December 11,2017 and 2016
20'17 2016
lncome:RentallncomeGain on Sale of Assets
Expense:lnterest ExpenseAmortizationFranchise TaxesDepreciationMiscellaneous Expenses
Net lncorne Before Federal lncome Taxand Equity in lncome of Subsidiary
Federal lncome Tax Expense (Beneft)
Net lncome (Loss) Before Equity in Netlncome of Subsidiary
Net lncome
$ -0--0-
-0--0-
-0- -0-
-0-
-0--0--0--0--0-
.G
.G-0--0-.(L
-0-
-0-
-0-
.(L
-0-
-G -0-
Equity in Net lncorne of Subsidiary 522.263
$
-122.253
See Accountants' Compilation Report and Notes to Financial Statements
-4-
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TULESHOE BANCSHARES, INC.(Parent Company Only)
COMPARATIVE STATEMENTS OF GASH FLOWSYears Ended December 31,2017 and 2016
2017
Cash flows from operating activities:Net lncomeAdjustments to reconcile net income to
net cash provided by operating activities:Equity in subsidiaries eamingsDepreciationAmortizationGain on sale of assets
(lncrease) decrease in assets andincrease (decrease) in liabilities:
Due from subsidiary bankPrepaid federal income ta:<esAmount Due Subsidiary Banklncome taxes payable
Net cash provided (used) by operations
Cash flows from investing activities:Proceeds from sale of assetsCash dividends received from subsidiary
Net cash provided (used) by investing activities
Cash flows from financing activities:Proceeds from term debtsPrincipal payrnents on term debtsDividends paid
$ 522,263
2016
502,243
18,931-0--0-
(18.931)
-o-
-0-4'10.363
410.363
-0--0-
(410.161)
A10.161)
202
35.611
35.813
(502,243)(522,263)-0--0--0-
-0--0--0-
16,180(64,814)(16,180)u.814
-0-
-0-482.780
482.780
-0--0-
(482.il21
Net cash provided (used) by financing activities @82.il21
Net increase (decrease) in cash 238
35.813Cash at beginning of year
Cash at end of year $ 36 051
See Accountants' Compilation Report and Notes to Financial Statements
-6-
MULESHOE BANCSHARES, INC.(Parent Gompany Only)
NOTES TO FINANCIAL STATEiIIEhITSYear Ended December 31,2017
NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
INVESTMENT IN STOCK OF FIRST BANK OF MULESHOE
The Company canies its investment in the First Bank of Muleshoe, Texas, at cost, plus its equityin net eamings since date of organization (August 8, 1979). Straight-line amortization is taken onthe dffierence between the Company's cost of such investment and its proportionate share of theunderlying net assets at date of acquisition.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents include time deposits, certificates of deposit and marketable securitieswith original maturities of three months or less.
NOTE 2: STOCK OF SUBSIDIARY SOLD UNDER REPURCHASE AGREEMENTS
The shares of stock of the First Bank of Muleshoe sold under repurchase agreements representsshares sold to the Board of Directors to meet regulatory requirements. Under the terms of theseagreements, the Company retains the right to reacquire these shares at $10.00 per share. lnaddition, the Company retains the right to any dividends paid. As of December 31, 2017 and2016, all stock sold under the repurchase agreement had been acquired by the Cornpany.
NOTE3: TERM DEBT
There were no term debts outstanding at December 3'1,2017 and 2016.
NOTE 4: FEDERAL INCOME TAX E)(PENSE (BENEFIT)
The Company and its subsidiary file a consolidated income tax retum.
NOTE 5: SUPPLEMENTAL DISCLOSURES CASH FLOW INFORMATION
20'17
Cash paid during the year for interestCash paid during the year for taxes
-0-187,500
2016
-0-184,300
-7 -
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