Tower Financial Corp (TOFC) Financial Statements (2024 and earlier)

Company Profile

Business Address 116 E BERRY ST
FORT WAYNE, IN 46802
State of Incorp. IN
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

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

12/31/2013
12/31/2012
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments14,846
Cash and cash equivalents14,846
Total current assets:14,846
Noncurrent Assets
Property, plant and equipment8,904
Total noncurrent assets:8,904
Other undisclosed assets660,223
TOTAL ASSETS:683,973
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt 9,094
Total current liabilities: 9,094
Noncurrent Liabilities
Other undisclosed liabilities611,134
Total liabilities:620,227
Equity
Equity, attributable to parent, including:63,746
Treasury stock, value(2,619)
Accumulated other comprehensive income (loss)3,650
Retained earnings17,881
Other undisclosed equity, attributable to parent44,835
Total equity:63,746
TOTAL LIABILITIES AND EQUITY:683,973

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

12/31/2013
12/31/2012
Revenues
(Financial Services Revenue)
25,974
Cost of revenue (2,725)
Financial services costs (2,493)
Gross profit:23,249
Operating expenses(11,832)
Other operating income, net
(Noninterest Income, Other Operating Income)
655
Operating income:12,073
Nonoperating income750
Investment income, nonoperating148
Gains on sales of other real estate13
Bank owned life insurance income588
Interest and debt expense(3,770)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(1,696)
Income from continuing operations before income taxes:7,357
Income tax expense(1,612)
Income from continuing operations:5,744
Income before gain (loss) on sale of properties:5,744
Net income available to common stockholders, diluted:5,744

Comprehensive Income ($ in thousands)

12/31/2013
12/31/2012
Net income:5,744
Other comprehensive income (loss)282
Comprehensive income, net of tax, attributable to parent:6,026

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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