Affinity Bancshares, Inc. (AFBI) Financial Statements (2024 and earlier)

Company Profile

Business Address 3175 HIGHWAY 278
COVINGTON, GA 30014
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 6036 - Savings Institutions, Not Federally Chartered (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments26,324111,776178,253
Cash and cash equivalents26,324111,776178,253
Financing receivable, accrued interest, after allowance for credit loss   
Total current assets:26,324111,776178,253
Noncurrent Assets
Operating lease, right-of-use asset 2,216  
Property, plant and equipment4,2573,7838,617
Intangible assets, net (including goodwill), including:18,55818,74918,940
Goodwill17,200  
Intangible assets, net (excluding goodwill)1,339  
Other undisclosed intangible assets, net (including goodwill)1918,74918,940
Total noncurrent assets:25,03122,53227,557
Other undisclosed assets739,928653,780644,818
TOTAL ASSETS:791,283788,088850,628
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities674,180667,120769,843
Total liabilities:674,180667,120769,843
Equity
Equity, attributable to parent117,103120,96880,785
Common stock666977
Treasury stock, value   (1,268)
Additional paid in capital63,13068,03833,620
Accumulated other comprehensive income (loss)(6,655)(358)159
Retained earnings65,35758,22350,650
Unearned esop shares(4,795)(5,004)(2,453)
Total equity:117,103120,96880,785
TOTAL LIABILITIES AND EQUITY:791,283788,088850,628

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
Revenues30,81631,66430,165
Net investment income30,81631,66430,145
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(704)(1,075)(2,000)
Gross profit:30,11230,58928,165
Operating expenses(4,946)(6,076)(6,810)
Other operating income, net
(Noninterest Income, Other Operating Income)
7911,172777
Operating income:25,95725,68522,132
Nonoperating income (expense)
(Gains (Losses) on Sales of Other Real Estate)
  127(289)
Interest and debt expense(2,379)(3,177)(5,490)
Income from continuing operations before equity method investments, income taxes:23,57822,63516,353
Other undisclosed loss from continuing operations before income taxes(14,251)(12,724)(12,473)
Income from continuing operations before income taxes:9,3279,9113,880
Income tax expense(2,193)(2,338)(792)
Income from continuing operations:7,1347,5733,088
Income before gain (loss) on sale of properties:7,5733,088
Net income available to common stockholders, diluted:7,1347,5733,088

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
Net income:7,1347,5733,088
Other comprehensive income (loss)(6,297)(517)150
Comprehensive income, net of tax, attributable to parent:8377,0563,238

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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