Brunswick Bancorp (BRBW) Exchange: PINK

Brunswick Bancorp is the holding company for Brunswick Bank & Trust, a New Jersey chartered commercial bank which serves central New Jersey through its New Brunswick main office and four additional branch offices. BRUNSWICK BANCORP REPORTS SEPTEMBER 30, 2021 RESULTS BRUNSWICK BANCORP AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET (UNAUDITED) SEPTEMBER 30, 2021 and 2020 (UNAUDITED) September 30, December 31, September 30, 2021 2020 2020 ASSETS Cash and due from banks $ 29,550,674 $ 20,116,224 $ 30,249,794 Securities held to maturity, at amortized cost 2,624,991 3,524,079 3,870,235 Securities available for sale, at fair market value 42,844,695 36,839,298 29,784,380 Restricted bank stock, at cost 1,730,400 1,402,900 952,900 Loans receivable, net 267,894,970 237,886,288 225,289,973 Premises and equipment, net 4,911,450 4,350,047 4,693,502 Accrued interest receivable 958,337 875,142 885,621 Other real estate 4,894,031 4,894,031 5,496,201 Other assets 5,776,453 6,078,244 5,923,194 TOTAL ASSETS $ 361,186,001 $ 315,966,252 $ 307,145,800 LIABILITIES AND STOCKHOLDERS' EQUITY Deposits Non-interest bearing $ 67,392,304 $ 58,462,505 $ 56,817,165 Interest bearing 205,644,219 173,772,135 177,903,559 Total deposits 273,036,524 232,234,640 234,720,724 Borrowed funds 41,636,405 37,427,067 28,422,557 Accrued interest payable 476,611 589,403 994,005 Advances from borrowers for taxes and insurance 1,248,794 1,063,488 974,256 Other liabilities 1,219,502 2,360,991 1,794,052 TOTAL LIABILITIES 317,617,836 273,675,588 266,905,594 STOCKHOLDERS' EQUITY Preferred stock-no stated value 10,000,000 shares authorized and no shares issued and outstanding at September 30, 2021. Common stock - no par value 10,000,000 shares authorized; 3,042,803 and 3,036,603 shares issued at September 30, 2021 and 2020 3,036,603 shares issued at December 31, 2020 Additional paid-in capital 7,949,809 7,797,214 7,772,850 Other Comprehensive (loss) income (205,945 ) 94,337 (72,890 ) Retained earnings 37,439,761 36,014,573 34,155,707 Treasury stock at cost, 224,557 shares, - - at September 30, 2021 and 2020 and December 31, 2020 (1,615,460 ) (1,615,460 ) (1,615,460 ) TOTAL STOCKHOLDERS' EQUITY 43,568,164 42,290,664 40,240,206 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 361,186,001 $ 315,966,252 $ 307,145,800 Book Value per share $ 15.46 $ 15.04 $ 14.31 BRUNSWICK BANCORP AND SUBSIDIARIES CONSOLIDATED STATEMENT OF INCOME NINE MONTHS ENDED SEPTEMBER 30, 2021 and 2020 (UNAUDITED) September 30, 2021 2020 INTEREST INCOME Interest and fees on loans $ 9,282,165 $ 8,104,738 Interest on investments 301,070 222,230 Interest on balances with banks 65,151 77,062 TOTAL INTEREST INCOME 9,648,385 8,404,031 INTEREST EXPENSE Interest on deposits 888,667 1,777,678 Interest on borrowed funds 277,384 141,081 Total interest expense 1,166,052 1,918,759 NET INTEREST INCOME 8,482,334 6,485,272 Provision for loan losses 310,000 320,000 NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 8,172,334 6,165,272 OTHER INCOME Service fees 486,101 511,823 Gain on sale securities AFS - 159,183 Other income 485,246 266,838 TOTAL OTHER INCOME 971,347 877,110 OTHER EXPENSES Salaries and employee benefits 3,499,340 3,397,708 Occupancy expenses 470,463 623,274 Equipment expenses 133,565 139,186 Other expenses 2,098,700 1,771,000 TOTAL OTHER EXPENSES 6,202,068 5,931,167 INCOME BEFORE INCOME TAX EXPENSE 2,941,612 1,111,214 Income tax expense 811,913 265,562 NET INCOME $ 2,129,699 $ 845,652 Earnings per share $ 0.76 $ 0.30 Earnings per share (Diluted) $ 0.76 $ 0.30 BRUNSWICK BANCORP AND SUBSIDIARIES CONSOLIDATED STATEMENT OF INCOME QUARTER ENDED SEPTEMBER 30, 2021 and 2020 (UNAUDITED) September 30, 2021 2020 INTEREST INCOME Interest and fees on loans $ 3,184,091 $ 2,737,361 Interest on investments 132,746 95,554 Interest on balances with banks 26,337 17,768 TOTAL INTEREST INCOME 3,343,174 2,850,683 INTEREST EXPENSE Interest on deposits 284,206 515,454 Interest on borrowed funds 95,408 63,579 Total interest expense 379,613 579,033 NET INTEREST INCOME 2,963,561 2,271,649 Provision for loan losses 54,000 150,000 NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 2,909,561 2,121,649 OTHER INCOME Service fees 167,734 161,408 Gain on sale of OREO - (60,734 ) Gain on sale of securities AFS - 26,560 Other income 145,482 101,433 TOTAL OTHER INCOME 313,215 228,667 OTHER EXPENSES Salaries and employee benefits 1,216,236 1,087,276 Occupancy expenses 137,614 188,050 Equipment expenses 41,578 45,947 Other expenses 634,593 622,534 TOTAL OTHER EXPENSES 2,030,020 1,943,807 INCOME BEFORE INCOME TAX EXPENSE 1,192,756 406,509 Income tax expense 321,817 101,505 NET INCOME $ 870,939 $ 305,004 Earnings per share $ 0.31 $ 0.11 Earnings per share (Diluted) $ 0.31 $ 0.11