| |
|
| Consolidated Statements of Changes in Shareholders' Equity |
The National
Catholic Risk Retention Group, Inc. and Subsidiaries
For the years ended December 31, 2008 and 2007 |
|
 |
| |
|
Additional
Paid-in
Capital
Original
Requirements |
 |
Additional
Paid-in
Capital
Policyholder
Dividends |
|
Accumulated
Other
Comprehensive
(Loss) Income
|
|
Retained
Earnings |
|
Total
Shareholders'
Equity |
|
Book
Value
Per Share |
|
 |
Capital Stock |
|
| Class A |
|
Class B |
|
|
BALANCE AT
JANUARY 1, 2007 |
$ 1,340 |
 |
$ 298,622 |
|
$ 484,001 |
|
$ 8,862,640 |
|
$ 8,956,581 |
|
$ 19,848,932 |
|
$ 38,452,116 |
|
$ 1,716* |
|
|
| Other comprehensive income |
— |
 |
— |
|
— |
|
— |
|
1,481,416 |
|
— |
|
1,481,416 |
|
|
|
 |
| Net loss |
— |
|
— |
|
— |
|
— |
|
— |
|
(16,485,878) |
|
(16,485,878) |
|
|
|
|
BALANCE AT
DECEMBER 31, 2007 |
1,340 |
|
298,622 |
|
484,001 |
|
8,862,640 |
|
10,437,997 |
|
3,363,054 |
|
23,447,654 |
|
1,047 |
|
|
| Other comprehensive income |
— |
|
— |
|
— |
|
— |
|
(17,240,679) |
|
— |
|
(17,240,679) |
|
|
|
|
| Net income |
— |
|
— |
|
— |
|
— |
|
— |
|
3,449,357 |
|
3,449,357 |
|
|
|
|
BALANCE AT
DECEMBER 31, 2008 |
$ 1,340 |
|
$ 298,622 |
|
$ 484,001 |
|
$ 8,862,640 |
|
$ (6,802,682) |
|
$ 6,812,411 |
|
$ 9,656,332 |
|
$ 431 |
|
|
|
* Book value per share has been restated for a 3:1 stock split. |
Note: Johnson Lambert & Co., Certified Public Accountants has audited the financial statements of The National Catholic Risk Retention Group, Inc. and Subsidiaries for the years ended December 31, 2008 and 2007 prepared in conformity with generally accepted accounting principles in the United States, and issued an unqualified opinion on such financial statements in their report dated April 23, 2009. The auditor’s report applies to the complete financial statements which are not presented.
These consolidated balance sheets, consolidated statements of operations and comprehensive income, consolidated statements of changes in shareholders’ equity and consolidated statements of cash flows of The National Catholic Risk Retention Group, Inc. and Subsidiaries for the years ended December 31, 2008 and 2007 were derived from the audited financial statements. The complete audited financial statements may be obtained from The National Catholic Risk Retention Group, Inc. and Subsidiaries at 801 Warrenville Road, Suite 175, Lisle, IL 60532-4334. |
|
|
