MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS SEPTEMBER 30, 2023 AND 2022
2022
2023
Assets Cash and cash equivalents
$ 5,362,663
$ 14,416,691
Certificates of deposit
--
4,000,000 63,663,701 1,099,700
Securities available-for-sale, at fair value Federal Home Loan Bank stock, at cost
65,344,911
934,900 262,678
Accrued interest receivable Real estate held for investment Premises and equipment, net
133,586
26,894,190 145,121 1,397,256
27,009,707
201,352 821,483
Other assets
$ 100,341,719 111,346,220 $
Total Assets
Liabilities and Equity Liabilities Liquidity reserve fund deposits Federal Home Loan Bank advances Accounts payable and accrued expenses
$ 19,388,034
$ 23,824,692
19,000,000 2,261,594 1,300,000
25,000,000 2,350,541 2,600,000
Reserve for insurance losses
41,949,628
53,775,233
Total Liabilities
Equity
Retained earnings
61,973,112 (3,666,849)
62,709,425 (5,244,310)
Accumulated other comprehensive loss
58,306,263
57,465,115
85,828
105,872
Non-controlling interest in MSIC Partners, LLC
58,392,091
57,570,987
Total Equity
$ 100,341,719 111,346,220 $
Total Liabilities and Equity
The accompanying notes are an integral part of these consolidated financial statements. 3
2023 ANNUAL REPORT 75
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