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Show 'ANNUAL REPORT TO THE BANK COMMISSIONER OF THE STATE OF UTAH Report of condition of PIONEER SAVINGS AND LOAN ASS'N of Salt Lake City, County of Salt Lake, State of Utah. STATEMENT OF CONDITION AS AT THE CLOSE OF BUSINESS, DECEMBER 31, 1957 ASSETS Cash on hand and in banks $255,507.69 U. S. Government obligations $200,000.00 Other investment securities 129,187.27 Accrued interest receivable on investments 4,932.65 334,119.92 First mortgage direct reduction loans . .2,218,366.21 F. H. A. Title I loans & home improvement loans 18,087.69 2,236,453.90 Loans secured by shares or investment certificates of this Association 16,490.80 Real estate sold on contract 20,814.36 Stock in Federal Home Loan Bank . . 26,700.00 Office building .. $14,406.61 Less Dep'r $3,228.33 11,178.28 Furniture & fixtures $20,282.13 Less Dep'r. $3,781.80 16,500.33 Deferred charges 2,163.79 TOTAL ASSETS 2,919,929.07 LIABILITIES Unpledged Withdrawable Shares: Home Office Sub-Total A Installment shares .... 2,121,810.85 2,121,810.85 Total Savings & Investment Share Accounts 2,121,810.85 Advance from Federal Home Loan Bank 200,000.00 Accounts payable 6,525.78 Due borrowers on loans in process 407,805.85 Advance payments by burrowers for taxes and insurance 9,238.98 Unapplied mortgage or contract payments 1,"513.62 Permanent, reserve or guaranty stock 75,000.00 Deferred Credits to Future Operations: A For unearned profit on real estete sold - Unearned Discount on Real Estate Contracts Purchased . 2,561.90 B For income collected in advance - Unearned Discount on Mome Improvement Loans 3,334.54 C Discount on U. S. Obligations 385.99 6,282.43 Specific Reserves: CReserve For Discounts . 31,248.11 31,248.11 General Reserves: A Legal Reserve Paid In Surplus 15,000.00 B Federal insurance reserve (if insured) . 32,150.24 E Reserve For Bad Debts 13,253.21 60,403.45 TOTAL LIABILITIES 2,919.929.07 Total Number of Mortgage Loan Accounts 189 Total Number of Savings and Investment Share accounts . 1326 STATE OF UTAH ) gg COUNTY OF SALT LAKE f Robert E. Doidge, being first duly sworn according to law, disposes and says that he is the President of the, above named corporation and that the foregoing- report contains a full, true and correct statement of the condition of said corporation at the close of business on the 31st day of December, 1957. Dated this 23rd day of January, 1958. ROBERT E. DOIDGE President ATTEST !Alan G. Mann C. Francis Solomon Jr. Robert E. Doidge Subscribed and sworn to before me this 23rd day of January, Jan-uary, 1958. HELEN B. OLSEN (Notary Public) My Commission expires 9-11-60 STATE OF UTAH OFFICE OF THE BANK COMMISSIONER I, SETH H. YOUNG, Bank Commissioner of the State of Utah, do" hereby certify that the foregoing is a true and correct copy of the statement of condition of the above named corporation filed in my office on January 29, 1958. SETH H. YOUNG Bank Commissioner |