Published: July 14, 2010

Brunswick Bancorp Reports Second Quarter 2010 Earnings

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NEW BRUNSWICK, N.J. - (BUSINESS WIRE) - Brunswick Bancorp (OTCBB:BRBW):

BRUNSWICK BANCORP AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
JUNE 30, 2010 (UNAUDITED)

ASSETS
Cash and due from banks	$	61,565,002
Federal funds sold		-
Total cash and cash equivalents		61,565,002
Securities held to maturity		2,500,000
Securities available for sale		94,507
Loans receivable, net		99,020,973

Premises and equipment, net		1,349,526
Accrued interest receivable		328,967
Other real estate		1,987,887
Other assets		1,465,792
TOTAL ASSETS	$	168,312,654
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits
Non-interest bearing	$	29,775,815
Interest bearing		98,612,039
Total deposits		128,387,854
Accrued interest payable		630,655
Other liabilities		124,180
TOTAL LIABILITIES		129,142,689
STOCKHOLDERS' EQUITY
Preferred stock-no stated value
10,000,000 shares authorized and no shares
issued and outstanding at June 30, 2010.
Common stock - no par value
10,000,000 shares authorized;
3,119,551 shares issued and outstanding at
June 30, 2010.		6,239,102
Additional paid-in capital		1,850,464
Treasury stock at cost, 197,117 shares
at June 30, 2010.		(1,373,296	)
Retained earnings		33,204,562
Equity Investment-Unrealized loss		(49,092	)
Deferred stock compensation		(701,775	)
TOTAL STOCKHOLDERS' EQUITY		39,169,965
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	168,312,654

BRUNSWICK BANCORP AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
SIX MONTHS ENDED JUNE 30, 2010 (UNAUDITED)


INTEREST INCOME
Interest on loans	$	2,961,543
Interest on investments		43,170
Interest on balances with banks		69,623
TOTAL INTEREST INCOME		3,074,336

INTEREST EXPENSE
Interest on deposits		697,808
Interest on borrowed funds		-
Total interest expense		697,808
NET INTEREST INCOME		2,376,528
Provision for loan losses		130,000

NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES		2,246,528

OTHER INCOME
Service fees		338,509
Other income		35,201
TOTAL OTHER INCOME		373,710

OTHER EXPENSES
Salaries and employee benefits		1,249,534
Occupancy expenses		561,361
Equipment expenses		98,703
Other expenses		677,148
TOTAL OTHER EXPENSES		2,586,746

INCOME BEFORE INCOME TAX EXPENSE		33,492
Income tax expense (Recovery)		(11,499	)
NET INCOME	$	44,991
NET INCOME PER SHARE OF COMMON STOCK:
Basic Earnings per share	$	0.02

Average shares outstanding-basic		2,848,184

Brunswick Bancorp
Roman T. Gumina, 732-247-5800
Chairman & CEO