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Show ANNUAL REPORT TO THE BANK COMMISSIONER OF THE STATE OF UTAH Report of Condition of Pioneer Savings & Loan Association of Salt Lake CUy, Utah, County of Salt Lake, State of Utah. STATEMENT OF CONDITION AS AT THE CLOSE OF BUSINESS, DECEMBER 31, 1959 ASSETS Cash on hand and in banks . . 151,347.55, U. S. Government obligations 248,635.00 Other investment securities , 13,466.27 262,101.27 First mortage direct reduction loans ,2,704,695.23 F'lldvTitleI1Oa''SandhOmeln'PfOVementn.080.64 2.72U75.87 Loans secured by shares or investment certificates of this Association io, yBy.74 Stock in Federal Home Loan Bank . . 42.6Q0vOO Office building . . $15,406.61 Less Dep'r. $6,326.77 . . . 9,079.84 Furniture and fixtures $17,068.89 Less Dep'r. $5,918.33 . 11.150.56' TOTAL ASSETS ; $3,215,044.83 LIABILITIES Unpledged Withdrawable Shares: Home Office Sub Total Optional Shares 2,421,968.44 2,421,968.44 Total Savings & Investment Share Accounts 2,421,968.44 Advances from Federal Home Loan Bank 19?-9- Accounts payable A q? Due borrowers on loans in process 343, 811.85 Advance payments by borrowers for taxes and insurance '12,408.25 Unapplied mortgage or contract payments . 1, 051.62 Permanent, reserve or guaranty stock 75,000.00 Deferred Credits to Future Operations: A - -For unearned profit on real estatesold, Unearned Discount on Real Estate Contracts . . 4,201.70 B---For income collected in advance, Unearned , Discount on Improvement Loans . 3,979.05 C Unearned Discount on U.S. Obligations . . 229.14 8,409.89 Specific Reserves: Reserve for Discounts 19.658.11 iy,bDe.u General Reserves: Federal insurance reserve 91,945.77 Real estate reserve, Bad Debt Reserve 33.886.55 Paid in surplus 15.000.00 140.832.32 TOTAL LIABILITIES 3.215.044.83 Total Number of Mortgage Loan Accounts 201 Total Number of Savings and Investment Share Accounts 1,627 STATE OF UTAH y ss. COUNTY OF SALT LAKE J ROBERT E. DOIDGE, being the first duly sworn according to law, deposes and says that he is the PRESIDENT of the above named corporation and that the foregoing report contains a full, true and correct cor-rect statement of the condition of said corporation at the close of business bus-iness on the 31st day of December, 1959. Dated this 23rd day of January, 1960. ROBERT E. DOIDGE President ATTEST Three ) Robert E. Doidge F. Henri Henriod Directors) Alan G. Mann Subscribed and sworn to before me this 23rd day of January, 1960 Helen B. Olsen Notary Public j My Commission expires September 11. i 1960. ' STATE OF UTAH I OFFICE OF THE BANK COMMISSIONER I L Seth H. Young, Bank Commissioner of the State of Utah, do f hereby certify that the foregoing is a true and correct copy of the statement state-ment of condition of the above named corporation filed in my office on February 1, 1960. I SETH H. YOUNG Bank Commissioner I - , J j f |