INANCIAL STATE
MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS SEPTEMBER 30, 2022 AND 2021
2022
2021
Assets Cash and cash equivalents
$ 14,416,691
$ 32,866,190
Certificates of deposit
4,000,000 63,663,701 1,099,700 133,586 27,009,707 --
11,500,000 68,538,638 325,000 1,647,400 367,365 27,680,281
Securities available-for-sale, at fair value Investment in MSIC Partners, LLC Federal Home Loan Bank stock, at cost
Accrued interest receivable Real estate held for investment Premises and equipment, net
201,352 821,483
158,811 803,794
Other assets
$ 111,346,220 143,887,479 $
Total Assets
Liabilities and Equity Liabilities Liquidity reserve fund deposits Federal Home Loan Bank advances
$ 23,824,692
$ 37,549,688
25,000,000
34,000,000 4,500,000 3,365,009 2,000,000
Note payable - line of credit
--
Accounts payable and accrued expenses
2,350,541 2,600,000
Reserve for insurance losses
53,775,233
81,414,697
Total Liabilities
Equity
Retained earnings
62,709,425 (5,244,310)
62,575,910 (103,128)
Accumulated other comprehensive loss
57,465,115
62,472,782
--
105,872
Non-controlling interest in MSIC Partners, LLC
62,472,782
57,570,987
Total Equity
$ 111,346,220 143,887,479 $
Total Liabilities and Equity
The accompanying notes are an integral part of these consolidated financial statements. 3
2022 ANNUAL REPORT
51
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