FSB Bancorp, Inc. (FSBC) 2016年年度报告「NASDAQ」.pdf

1、April 21,2017 Dear Stockholder,Our ability to enhance our capital position in mid-2016 with a well-received second-step stock offering has positioned the Bank to maintain the asset generation growth we have experienced over the past several years.As we deploy our additional capital we will be seekin

2、g to expand our asset generation capacity in our primary markets.In the current interest rate environment we feel fortunate that our interest rate spreads have not markedly deteriorated.As reflected in the operating results below the strategic initiatives we have been following,expanded residential

3、lending and measured growth in our commercial lending efforts are producing positive results.We expect that the momentum we have created will be maintained throughout the coming year.Total assets increased at a measurable pace by$17.6 million,or 7.0%from$255.8 million at December 31,2015 to$273.7 mi

4、llion at December 31,2016.Net Loans receivable grew by$24.4 million,or 12.1%from$201.8 million at December 31,2015 to$226.2 million at December 31,2016.Deposits decreased by$2.6 million,or 1.4%,from$185.6 million at December 31,2015 to$182.9 million at December 31,2016 due to managements decision to

5、 price certificates of deposit at lower rates for non-relationship customers.Total borrowings from the Federal Home Loan Bank of New York increased$10.7 million,or 23.3%,to$56.8 million at December 31,2016 from$46.1 million at December 31,2015 in order to assist with funding the loan growth in 2016.

6、Stockholders equity increased$10.1 million,or 46.4%,to$31.9 million at December 31,2016 from$21.8 million at December 31,2015 due primarily to the completion of the second-step conversion in July 2016.Net income increased by$425,000 to$938,000 in 2016 from$513,000 in 2015.The increase in income was