(02)2518-1688 service@ibfc.com.tw (02)2518-1688 service@ibfc.com.tw 1041679~11 (02) 2518-1688 () 80139621 (07) 282-1182 () 40310116 (04) 2220-2181 () 70345714 (06) 228-0121 () 60050810 (05) 225-0260 () 33028610 (03) 332-7172 () 220334 (02) 2959-9001 () 104488 (02) 2522-1989 () 30016811 (03) 521-8161 () 1031994 (02)2593-6666 http://www.wls.com.tw (Fitch Ratings) 105205131306 (02) 2514-7164 11033327 (02)2729-6666 http://www.pwc.com www.ibfc.com.tw
2 7 9 22 25 32 38 45 Annual Report 2007 1
96 ()96 96 (FED) 96(GDP)11.4% GDP10%(CPI)4.8% 2745.70%(GNP) 3,948 GNP 17,294 96CPI 1.8%(WPI)6.45% 962.08% () 96 () 96 96 95 78,877 84,781 1,073,887 1,010,148 6,571,086 6,162,699 7,909,231 13,060,086 () 0.74 1.00 () 96 6,2669690.42% 173996100.36% 65,71196101.56% 79,0929659.92% 96152,2559674.21% 2
() 96 152,255134,672 96 1,979,413 - (456,867) 1,522,546 1,346,721 0.60 5.97 68.04 () 96 97 (CBAS Option) 96 800 TCP/IP 3-DESVaR 97 () 97 Annual Report 2007 3
1. (1) (2) (3)(CB) 2. (1) (2)FRCP (3) (4) (5) 3. (1) (2)(RP) (3) (4)(CBRP) (5)(CBAS Option) 4. (1) (2) (3) (4) 5. (1) (2) (3) (4) (CB)(YTP) 4
() : 97 97 630,000,000 961,500,000 961,500,000 113,050,000 250,000 670,000 28,500,000 9,800,000 6,585,000,000 8,100,000,000 () 1. 2. 3. 4. 5.(YTP) 6. () () () () () 97 () () 961023 () 97 Annual Report 2007 5
() 96BASELII971 () RP (Fitch Ratings)96111 F3BBBF1twnA+twn95 6
661566115 64125 65113 128 66115 7153162641314 7535 104 764 848 84920 84101 85322 861110 871126Fitch Ratings BBB 87121 51 88531 56.5818% 881025 8922532165,333,65232.82%613 89330 Annual Report 2007 7
90620 9092690930 90101 90124 91131100% 91326 91327 9241(IRS)113 92512(FRCP) 9291625 921251218 931279212 93423 93519 931126 94816830 94103 941295 313 958ABCP 9511951221 961023 97226 8
9 Annual Report 2007 972
() 1. 97229 () 94.8.16 3 94.8.16 1,809,000,000 100 1,809,000,000 100 0 0 0 0 - - - 94.10.19 3 94.8.16 1,809,000,000 100 1,809,000,000 100 0 0 0 0 - - - 96.8.13 3 94.8.16 1,809,000,000 100 1,809,000,000 100 0 0 0 0 - - - () 94.8.16 3 94.8.16 1,809,000,000 100 1,809,000,000 100 0 0 0 0 () - - - 94.8.16 3 94.8.16 1,809,000,000 100 1,809,000,000 100 0 0 0 0 - - - 94.8.16 3 94.8.16 1,809,000,000 100 1,809,000,000 100 0 0 0 0 - - - 94.8.16 3 94.8.16 1,809,000,000 100 1,809,000,000 100 0 0 0 0 - - - 2. 961231 () (9.17%) (2.84%) (2.73%) GMOGMO(2.31%) (1.81%) (1.78%) (1.62%) (1.36%) (1.29%) (1.28%) 1 296820 10
3. (26.58%)(12.77%)(12.73%) (5.38%)(4.41%)(3.28%) (2.57%)(1.78%)(1.48%)(1.44%) (51.24%)(34.16%)(14.60%) (32.10%)(28.45%)(10.91%) (6.36%)(0.30%) (0.28%)(0.21%)(0.16%)(0.14%)DFA (0.14%) (17.58%)(7.07%)(6.57%) (5.89%)(2.82%)(2.42%)(2.33%) (2.11%)(2.04%)B102Sec20(2.02%) (93.33%)(6.67%) (100%) (40.01%)(3.63%)(2.27%) (2.11%)(1.85%)(1.20%)(0.97%) (0.81%)(0.79%)(0.71%) (40.71%)(26.55%) (24.77%)(6.20%)(0.88%)(0.35%)(0.18%) (0.18%)(0.18%) (49%)(30%)(10%) (10%)(1%) Annual Report 2007 11
4. 30 27 ( ) 12
() () 90.10.01 0 0 0 0 0 0 91.07.01 0 0 0 0 0 0 92.10.01 0 0 0 0 0 0 95.02.01 0 0 0 0 0 0 96.04.01 0 0 0 0 0 0 95.02.01 0 0 0 0 0 0 95.02.01 0 0 0 0 0 0 96.04.01 0 0 0 0 0 0 93.01.01 0 0 0 0 0 0 96.03.01 0 0 0 0 0 0 94.12.20 0 0 0 0 0 0 96.01.01 0 0 0 0 0 0 95.02.01 0 0 0 0 0 0 91.01.01 0 0 0 0 0 0 96.01.01 0 0 0 0 0 0 95.02.01 0 0 0 0 0 0 96.04.01 0 0 0 0 0 0 93.01.01 0 0 0 0 0 0 972 Annual Report 2007 13
() 1. (1) (1) (3) (2) (2) 961231 ABC ABCDE (A) (E) (B) (C) (D) (F) 9,456 9,456 1,340 1,340 0.80% 0.80% 0.80% 0.80% 1968696813 2966139661397121 397121 (A+B+C) (A+B+C+D+E) (G) (H) 2,000,000 8 8 8 8 2,000,0005,000,000 5,000,00010,000,000 1 1 1 1 10,000,00015,000,000 15,000,00030,000,000 30,000,00050,000,000 50,000,000100,000,000 100,000,000 9 9 9 9 14
2. (A) (B) (C) ABC 961231 480 480 0.04% 0.04% (A+B+C) D 2,000,000 2 2 2,000,0005,000,000 5,000,00010,000,000 10,000,00015,000,000 15,000,00030,000,000 30,000,00050,000,000 50,000,000100,000,000 100,000,000 2 2 3. 961231 7,971 7,971 3,785 3,785 11,756 11,756 0.65% 0.65% 378 2,000,000 2,000,0005,000,000 2 2 5,000,00010,000,000 1 1 10,000,00015,000,000 15,000,00030,000,000 30,000,00050,000,000 50,000,000100,000,000 100,000,000 3 3 Annual Report 2007 15
4. () 1. 96 95 23,032 23,032 26,806 26,806-14.08% -14.08% 1,346,721 1,808,479-25.53% 1.71% 1.71% 1.48% 1.48% 15.54% 15.54% 9695 9695 2. 16
() 9611 () ()(%) 11 100.0 2 4 96.08.06 63.64 5 96.08.13 11 100.0 6 5 54.5 4 96.06.13 100.0 7 96.06.13 9 81.82 11 100.0 11 100.0 11 100.0 143 () () Annual Report 2007 17
18 () () () () () () () () () ()122 () ()12 2 () () () () () () () () () () () () () () () () () () () () () () 9696
() () ()20 () 1. 2. 3. 4. 5.( ) 6. () 96 42420 () ()( ) Annual Report 2007 19
20
() 96.1.1~ 2,600 96.12.31 () () :97131 :;% () 198,551,047 24.01% 281,309,141 34.01% 479,860,188 58.02% () 126,716,200 24.55% 350,000 0.07% 127,066,200 24.62% () 2,109,155 0.73% 971,578 0.33% 3,080,733 1.06% () 990,000 0.45% 990,000 0.45% () 10,000,000 0.57% 10,000,000 0.57% () 5,000,000 2.94% 5,000,000 2.94% () 812,474 0.19% 812,474 0.19% () 6,380-6,380 - Annual Report 2007 21
() () () () 972 10 1,809,000,000 18,090,000,000 1,809,000,000 18,090,000,000 961231 1,809,000,000 0 1,809,000,000 961231 0 1 0 0 0 1 0 1,809,000,000 0 0 0 1,809,000,000 0 100 0 0 0 100 () 10 961231 1 1,000,000 1,000,001 1 1,809,000,000 100 1 1,809,000,000 100 () 1,809,000,000 100% 22
95 96 97229 - - - - - - - - - 12.84 12.12 12.62 12.14 (1) (1) 1,809,000,000 1,809,000,000 1,809,000,000 1.00 0.74 0.11 0.661 (1) (1) - - - - - - - - - - - - - - - - - - 196 () 1. 2. 3. () 96 () Annual Report 2007 23
() () (1)0 (2) (3)0.74 () 1. 96424112095 69,626 2. 3.0.96 () () 24
() 96 95 () 113,677,907 50.34% 91,093,092 40.19% 22,584,815 98,598,673 43.66% 118,365,771 52.23% (19,767,098) 3,844,652 1.70% 3,873,883 1.71% (29,231) 9,706,062 4.30% 13,309,653 5.87% (3,603,591) 225,827,294 100.00% 226,642,399 100.00% (815,105) 96 95 () 723,559 36.55% 1,019,939 34.79% (296,380) 175,370 8.86% 1,221,643 41.67% (1,046,273) 140,073 7.08% 13,884 0.47% 126,189 107,956 5.45% 56,075 1.91% 51,881 832,455 42.06% 620,246 21.16% 212,209 1,979,413 100.00% 2,931,787 100.00% (952,374) () 1. (1) (2) (3)FRCP (4) (5)ABCP (6) (7) 2. (1) (2) (3) (4) Annual Report 2007 25
(5)RP (6) 3. (1) (2)(CBAS)(CBAS Option) (3)(BOND OPTION) (4)(ABCP) (5)(IRS) (6) () 1. 2. 97 20073.8%3.2% 20070.8%~1% 4.3% 3. (1) a. b. c. d. e. 26
(2) a. b. c. d. (3) a. b. c. d. (Directional) (CBAS) (CBAS Option) e. () 96 97 (CBAS Option) 97 Annual Report 2007 27
1. (1) 96 95 % % 249 0.02 434 0.04 961,009 86.39 968,583 91.90 667 0.06 906 0.09 28,111 2.53 32,530 3.09 9,500 0.85 9,900 0.94 112,878 10.15 41,565 3.94 1,112,414 100.00 1,053,918 100.00 (2) 96 95 % % 2,093 0.01 15,394 0.08 5,572,332 38.48 5,014,697 26.09 5,706 0.04 6,693 0.03 331,251 2.29 457,891 2.38 437,371 3.02 585,861 3.05 222,333 1.54 82,167 0.43 5,874,073 40.57 11,309,643 58.83 1,023,576 7.07 638,560 3.32 1,011,582 6.98 1,111,888 5.79 14,480,317 100.00 19,222,794 100.00 (3) 95 1,238,431 42% 546,276 18% 575,831 20% 58,977 2% 512,272 18% 96 1,311,065 66% (315,731) (16%) 384,202 19% (273,223) (14%) 873,100 45% 2. 9596706425 28
(1)(CBAS) 93(CBAS) 96389200 97() (2) (3)(FRCP) 92 (4) (5) 941095 () 1. (1) (2) (3) (4) 2. (1) (2) (3) (4) Annual Report 2007 29
95 96 97229 173 183 184 4 3 3 177 186 187 38.05 38.92 39.08 10.92 11.17 11.25 0.56 0.54 1.07 38.98 41.94 41.18 (%) 56.50 53.76 54.01 2.26 2.15 2.14 1.70 1.61 1.60 1 1 1 141 148 149 59 59 66 165 176 177 102 109 112 66 72 73 59 77 77 4 4 4 75 87 89 99 108 109 77 76 76 6 20 20 160 158 158 0 7 7 0 16 17 47 58 58 3 3 4 30
1. IBM R6NCRNT SQL 2. Annual Report 2007 31
92 93 94 95 96 5,624,973 4,952,122 10,776,926 6,205,292 6,207,598 2,539,007 119,520,090 149,551,882 97,309,001 116,765,207-25,100,505 24,612,384 3,184,058 3,236,149 339,506 37,397,324 39,767,901 106,106,033 90,438,918 789,100 2,110,445 2,291,895 1,954,024 1,888,201 200,000 521,875 496,600 623,701 320,302 3,474,949 3,579,504 3,429,042 3,453,166 3,439,321 695,202 680,482 677,512 703,737 720,219 - - - - - 8,754,696 7,572,834 6,326,723 4,503,364 2,173,833 3,754,203 2,642,711 2,278,262 2,600,023 637,546 26,171,636 204,077,892 240,209,127 226,642,399 225,827,294 110,000 185,000 10,245,000 14,425,000 13,980,000 - - - - - - - 55 64,210 36,233-176,774,085 203,271,603 185,621,052 187,468,948 - - - - - 1,005,829 775,118 768,816 540,062 524,986 - - - - - 64,541 78,478 48,169 41,218 25,996 3,652,169 3,788,790 2,737,064 2,716,588 1,871,722 4,832,539 181,601,471 217,070,707 203,408,130 203,907,885 7,060,828 183,960,320 219,191,760 204,673,505 (1) 18,090,000 18,090,000 18,090,000 18,090,000 18,090,000 167,324 167,324 167,324 167,324 167,324 3,093,805 4,223,040 4,894,875 4,582,301 4,663,647 865,516 1,864,191 2,773,822 3,316,926 (1) (12,032) (3,943) (13,779) 394,644 (1,001,562) - - - - - 21,339,097 22,476,421 23,138,420 23,234,269 21,919,409 19,110,808 20,117,572 21,017,367 21,968,894 (1) 196 295113436941231() 3436 32
92 93 94 95 96 410,077 1,269,724 630,271 58,977 (273,223) 4,625,294 3,283,087 3,083,098 2,872,810 2,252,636 1,427,686 315,578 8,929 400,051-492,183 512,081 485,960 456,468 456,867 3,115,502 3,725,152 3,218,480 2,075,268 1,522,546 2,982,885 3,357,524 3,030,684 1,751,734 1,346,721 - - - - - - - - - - - - - 56,745-2,982,885 3,357,524 3,030,684 1,808,479 1,346,721 1.65 1.86 1.68 1.00 0.74 1 1 1 2 1 29511 Annual Report 2007 33
92 93 94 95 96 0.13 0.15 1.37 3.76 5.24 1.56% 0.97% 1.21% 0.82% 0.79% 0.19 0.03 0.01 0.01 0.01 32,697 29,564 19,980 17,458 10,642 19,369 20,854 17,620 10,217 7,240 11.53% 3.85% 2.08% 0.77% 0.60% 15.03% 15.33% 13.29% 7.80% 5.97% 58.56% 56.87% 81.62% 61.69% 68.04% 1.65 1.86 1.68 1.00 0.74 18.46% 88.99% 90.37% 88.58% 89.49% 3.26% 3.03% 2.93% 3.03% 3.29% (0.57%) 679.77% 17.70% (5.65%) (0.36%) 260.84% 19.57% (13.60%) (35.52%) (26.63%) (%) 244.12% 21.01% (1) (1) 0.17% (%) 356.69% 1,164.52% 707.55% 499.39% 404.01% 2,359,500 1,189,000 300,000 575,000 1,067,000 2.84% 1.40% 0.35% 0.68% 1.35% 17.62% 17.06% 11.28% 18.55% 24.00% 15.73% 16.15% 16.80% 18.07% 19.82% 16.94% 17.08% 17.97% 19.14% 21.14% 16.74% 17.12% 17.70% 20.77% 24.02% 20.52% 19.19% 17.49% 15.88% 18.41% 13.41% 14.79% 12.46% 13.02% 12.84% 16,715,560 17,466,883 17,883,006 17,090,020 16,413,417 124,666,900 118,093,932 143,497,693 131,286,839 127,863,405 17.12% 19.03% 16.12% 17.23% 17.01% 18.01% 19.89% 16.46% 17.92% 17.93% 81.03% 19.52% 11.33% 9.69% 9.62% 20% 1.9695 2.96 34
1 2 1. (1)365/ / (2) (3) (4) (5) 2. (1) (2) (3) (4)() 3. (1) (2) 4. (1)=() (2)= 5. (1) (2) 6. (1) (2) (3) (4) (5) 7. (1)= (2) (3)12.5 (6) (7) (8) Annual Report 2007 35
36
5184 Annual Report 2007 37
96 95 () () 225,827,294 226,642,399 (815,105) (0.36%) 203,907,885 203,408,130 499,755 0.25% 21,919,409 23,234,269 (1,314,860) (5.66%) 96 95 () () 1,979,413 2,931,787 (952,374) (32.48%) 1,522,546 2,075,268 (552,722) (26.63%) 175,825 323,534 (147,709) (45.65%) 2 56,745 (56,745) 1,346,721 1,808,479 (461,758) (25.53%) 1 19695 29695 38
() 961231 951231 0.17% NA NA 404.01% 499.39% (19.10) () A B C () A+B-C 105,845 544,155 30,000 620,000 - - 1. (1)509,712 (2)34,443 (3)30,000 2. 96 (49,065) 133,690 96 () Annual Report 2007 39
() 1. (1) A. B. C. 40
D. (2) (3) A. CRM B. VaR C. D. (4) A. a. Annual Report 2007 41
b. c. d. B. C. D. (RP) 3090180 2. (1) 961231 0% 0 10% 20,719 20% 1,535,673 100% 1,998,707 3,555,099 (2)RPRS RP 354,894 RS 93,204 73,241,370 163,957 73,853,425 961231 42
(3) (4) 961231 3,938,109 49,226,356 51,676 645,950 46,606 582,575 4,036,391 50,454,881 (5) 961231 030 3190 91180 181 218,218 60,728 48,421 16,219 17,824 75,026 223,609 185,407 14,343 1,862 78 21,919 (5,391) (124,679) 34,078 14,357 17,746 53,107 (5,391) (124,679) (90,601) (76,244) (58,498) (5,391) () 961015RP10% RP () () () () () () Annual Report 2007 43
() 1. (1) (2)94 $38,750$11,4765% 2. 94629 198 947 (1) (2) (3) 198 () 44
() 1. () () 100% 50,000,000 500,000 () 100% 1,809,000,000 21,249,131 () ()34.01% ()24.01% ()281,309,141 ()198,550,973 ()2,506,779 ()2,414,859 () 99.85% 44,930,760 436,836 () 100% 6,000,000 60,000 2. 91.3.26 167 41(B)10 79.02.02 188 15 93.07.09 188 5 85.12.27 1993 B11 82.11.23 231 3 216.2 82.7 5 6 4.5 Annual Report 2007 45
3. (2) () (%) (1) () (%) 61,337,700 2.84 0 0 1,020,000 0.05 2,156,973 0.1 9,190,200 0.43 0 0 13,754,700 0.64 0 0 229,500 0.01 0 0 9,848,100 0.46 4,447,200 0.21 2,856,000 0.13 0 0 27,864,040 1.29 0 0 3,500,000 0.16 5,003,362 0.23-0 0 0 0 11,100,000 0.51 0 0-0 0 2,156,973 0.1 198,551,047 24.006 0 0 0 0 0 0 0 0 281,309,141 34.012 815 0 0 0 0 0 85,154,904 10.296 0 0 0 0 40,783,000 4.931 0 0 387,438 0.047 310,766 0.037 0 0 38,743,850 4.684 0 0 281,309,141 34.012 0 0 0 0-0 0 0 0 46
1 2972 4. () (%) (1) () (%) 0 0 0 0 50,000,000 100 0 0 0 0 0 0-0 0 0 0 0 0 0 0 6,000,000 100 0 0 0 0 0 0-0 0 0 0 0 0 0 0 44,930,760 99.846 0 0 0 0 0 0-0 0 0 0 961231 () () () 21,622,801 26,216,770 2,598,801 23,617,969 1,660,208 1,556,130 1,636,110 0.76 8,270,789 21,041,076 12,014,612 9,026,464 2,699,869 869,120 654,075 0.79 500,000 538,431 9,208 529,223 83,171 50,654 50,616 1.01 60,000 61,828 1,814 60,014 6,169 (5,347) 14 0.00 450,000 1,170,261 708,545 461,716 125,613 (3,289) 22,681 0.50 Annual Report 2007 47
() 1. 48
2. Annual Report 2007 49
3. % 1,809,000,000 100 0 4. (1) (2) (3) (4) (5)96 269 5. 6. 50
Annual Report 2007 51
96951231 96 12 31 95 12 31 % % 11000 (()) $ 105,845 - $ 510,240-11500 (() ) - - 3,000,000 1 6,101,753 3 2,695,052 1 12000 ( ()) 116,765,207 52 97,609,001 43 12500 (()) 3,236,149 1 3,184,058 2 14000 (()) 90,438,918 40 108,938,680 48 13000 (()()) 1,888,201 1 1,954,024 1 14500 (()) 320,302-623,701-15000 (()) 3,439,321 2 3,453,166 2 18500 (()) 720,219-703,737-15500 (()) 2,173,833 1 3,299,446 2 19601 (()) 56,439-58,408-15541 (()) 560,236-589,092-19500 20,871-23,794-19999 $ 225,827,294 100 $ 226,642,399 100 52
96 12 31 95 12 31 % % 21500 (()) $ 13,980,000 6 $ 14,425,000 7 22000 ( ()) 36,233-64,210-22500 (()) 187,468,948 83 185,621,052 82 23000 (()) 524,986-540,062-29531 (()) 1,809,305 1 2,453,834 1 29537 (()) - - 200,000-25000 (()) 62,417-62,754-29601 25,996-41,218-29999 203,907,885 90 203,408,130 90 (()) 31000 18,090,000 8 18,090,000 8 (()) 31501 160,616-160,616-31599 6,708-6,708 - (()) 32001 3,315,148 1 2,772,604 1 32011 1,348,499 1 1,809,697 1 32599 (()()) ( 1,001,562) - 394,644-39999 21,919,409 10 23,234,269 10 () 19999 $ 225,827,294 100 $ 226,642,399 100 Annual Report 2007 53
9695111231 96 () 95 % % 41000 () $ 2,777,234 140 $ 2,663,624 91 51000 () ( 3,050,457) ( 154) ( 2,604,647) ( 89) ( 273,223) ( 14) 58,977 2 49100 () 384,202 19 575,831 20 49200 1,311,065 66 1,238,431 42 49300 ( 315,731) ( 16) 546,276 18 49500 (()) 84,625 4 85,847 3 49821 (()) - - 167,571 6 49895 108,545 6 230,728 8 49881 (()) 169,366 9 - - 49899 () 279,910 14 ( 39,116) ( 1) 49883 ( ()) 200,000 10 - - 49899 30,654 2 67,242 2 4XXXX 1,979,413 100 2,931,787 100 54
() 9695111231 96 () 95 % % 51599 (()) - - ( 400,051) ( 14) (()) 58500 ( 278,027) ( 14) ( 267,557) ( 9) 59000 ( 17,377) ( 1) ( 18,947) ( 1) 59500 ( 161,463) ( 8) ( 169,964) ( 6) 61001 1,522,546 77 2,075,268 70 61003 (()) ( 175,825) ( 9) ( 323,534) ( 11) 61005 1,346,721 68 1,751,734 59 63500 () - - 56,745 2 69000 $ 1,346,721 68 $ 1,808,479 61 (()) 69500 $ 0.84 $ 0.74 $ 1.15 $ 0.97 69507 - - 0.03 0.03 69501 $ 0.84 $ 0.74 $ 1.18 $ 1.00 Annual Report 2007 55
9695111231 95 9511 $ 18,090,000 $ 167,324 $ 1,863,399 94 - - 909,205 - - - - - - 95 - - - - - - - - - 951231 $ 18,090,000 $ 167,324 $ 2,772,604 96 9611 $ 18,090,000 $ 167,324 $ 2,772,604 95 - - 542,544 96 - - - - - - - - - () - - - 961231 $ 18,090,000 $ 167,324 $ 3,315,148 56
$ 3,031,476 ( $ 13,779) $ - $ 23,138,420 ( 909,205) - - - ( 2,004,372) - - ( 2,004,372) ( 116,681) - - ( 116,681) 1,808,479 - - 1,808,479 - - 394,644 394,644-13,779-13,779 $ 1,809,697 $ - $ 394,644 $ 23,234,269 $ 1,809,697 $ - $ 394,644 $ 23,234,269 ( 542,544) - - - ( 1,195,749) - - ( 1,195,749) ( 69,626) - - ( 69,626) 1,346,721 - - 1,346,721 - - ( 1,396,206) ( 1,396,206) $ 1,348,499 $ - ( $ 1,001,562) $ 21,919,409 Annual Report 2007 57
9695111231 96 95 $ 1,346,721 $ 1,808,479-51 () ( 169,366) 400,000 ( 200,000) - () ( 279,910) 39,116 ( 84,625) ( 85,847) - 26,876 45,170 34,847 11,626-17,377 18,947 ( 3) ( 568) () 274,551 ( 187,001) - ( 56,745) () ( 19,468,112) 53,772,939 ( 52,091) 21,428,326 17,145,230 ( 68,562,356) ( 421,131) ( 34,978) 303,399 ( 127,101) ( 2,848) 696,012 40,646 52,436 () 9,378 11,611 1,847,896 ( 17,650,551) ( 15,076) ( 228,754) ( 337) ( 43,304) () 348,495 ( 8,687,565) 13 1,262 ( 30,746) ( 10,889) ( 1,827) ( 6,062) () ( 406,701) 3,064,948 () 1,969 ( 10,376) 1,409,999 2,090,000 972,707 5,128,883 () ( 445,000) 4,180,000 ( 15,222) ( 6,951) ( 1,195,749) ( 2,004,372) ( 69,626) ( 116,681) () ( 1,725,597) 2,051,996 ( 404,395) ( 1,506,686) 510,240 2,016,926 $ 105,845 $ 510,240 $ 3,045,017 $ 2,628,414 $ 139,455 $ 302,347 58
96951231 () ( ) 66 1 70 75 ( ) 91 3 26 ( 100% ) ( ) () 1. 2. / 3. () () () 1. 2. / 3. () 1. 2. 3. Annual Report 2007 59
() 20 9412 3159511 () 1. 2. () 1. 2. 60 3 5 5 12 3 3. () () () () 10 () () 89() () 1.22 87()10% 2.95 60
3. 92240 () 32 () () () 1. 2. () () () 95111572535 95 () 1. 95 1 1 34 36 2. 95 $56,745 95 12 31 $661,460 $661,460 95 $254,481 0.14 () 961231 951231 $ 105,845 $ 206,240-304,000 $ 105,845 $ 510,240 Annual Report 2007 61
() 961231 951231 $ 1,753 $ 2,001,052 6,100,000 3,694,000 $ 6,101,753 $ 5,695,052 $ 13,980,000 $ 14,425,000 1. 96 95 12 31 1.98%~2.10% 1.68% 2. 96 95 12 31 2%~2.10% 1.66%~1.73% 3. ( ) () 961231 951231 $ 53,032 $ 191,749 85,871 50,000 95,730,114 72,507,151 10,887,979 10,266,756 4,913,240 7,929,192 140,305 199,944 98,111 449,542 4,910,880 5,762,896 116,819,532 97,357,230 ( 54,325) 251,771 $ 116,765,207 $ 97,609,001 $ 36,233 $ 64,210 1. 96 95 $274,551 $140,865 2. 96 95 12 31 $99,627,623 $78,433,060 3. 96 95 12 31 $1,720,000 $300,000 4. 96 12 31 ( ) - $ 71,740,000 ($ 14,066) 55 87,503 28,770-281,700 ( 14,861) - 3,892,000 ( 7,306) 62
95 12 31 ( ) - $ 54,140,000 ($ 35,875) - 156,000 ( 28,335) - 4,150,000 7,599 () () 1. 96 95 12 31 1.96%~3.538% 1.555%~1.92% 2. 96 95 12 31 1% 2.834% 0.3% 2.265% 3. 96 95 12 31 $2,916,700 $2,877,700 () 961231 951231 $ 102,624 $ 18,426 48,083,974 64,438,084 21,040,486 23,742,729 22,171,722 20,344,797 91,398,806 108,544,036 ( 11,626) - ( 948,262) 394,644 $ 90,438,918 $ 108,938,680 1. 96 95 12 31 $84,041,400 $103,387,700 2. 96 95 12 31 $1,822,458 $1,928,728 3. 96 95 12 31 $949,266 $903,918 4. 96 95 12 31 2.27% 2.08% () 961231 951231 $ - $ 37,989 (()) 113,449 113,449 591,329 473,519 1,156,569 1,363,463 26,854 3,593 1,888,201 1,992,013 - ( 37,989) $ 1,888,201 $ 1,954,024 1. 2. Annual Report 2007 63
() 96951231$320,302$623,701 12.53%1.60% () 9 6 1 2 3 1 95 12 31 $ 1,270,371 24.55% $ 1,372,736 24.55% 2,168,950 24.01% 2,080,430 24.01% $ 3,439,321 $ 3,453,166 9695 9 6 9 5 ($ 49,065) $ 13,338 133,690 72,509 $ 84,625 $ 85,847 961231 $53,300 () 961231 951231 $ 448,816 $ 448,816 274,759 274,759 17,815 17,994 137,353 136,054 6,882 6,882 885,625 884,505 ( 58,226) ( 53,418) ( 16,551) ( 15,577) ( 119,719) ( 113,381) ( 6,882) ( 6,882) ( 201,378) ( 189,258) 684,247 695,247 35,972 8,490 $ 720,219 $ 703,737 64
() 961231 951231 - $ 1,571,322 $ 1,571,322 ( 109,293) ( 391,100) 1,462,029 1,180,222 182,165 179,907 111,936 111,936 () 200,000 1,610,000 28,770 10,932 22,025 39,541 166,908 166,908 $ 2,173,833 $ 3,299,446 1. 84 96 12 ( ) $1,462,029 ( ) 2. 96 12 31 $182,165 ( ) 3. 96 12 31 $111,936( ) 4. () 961231 951231 $ 56,439 $ 58,408 () 8810 95 9512$34,769 () 961231 951231 $ 624,585 $ 665,232 ( 64,349) ( 76,140) $ 560,236 $ 589,092 () 1. 96 95 9 6 9 5 $ - $ 51-400,000 $ - $ 400,051 Annual Report 2007 65
2.9695 9511 $ 118,640 $ 2,431,006 $ 200,000 51 400,000 - ( 381,734) - - 377,172 ( 377,172) - 951231 114,129 2,453,834 200,000 ( 524,943) - - - ( 169,366) ( 200,000) 475,163 ( 475,163) - 961231 $ 64,349 $ 1,809,305 $ - () (())10 () 9 6 9 5 $ 380,636 $ 518,817 ( 279,003) ( 225,947) 117,754 271,138 10% - 42-52,354 ( 43,562) ( 292,870) 175,825 323,534 ( 117,754) ( 271,138) ( 21,701) ( 31,209) ( 36,370) ( 21,187) ( 113,449) ( 113,449) ( ()) ($ 113,449) ($ 113,449) 1. 96951231 $704,778$586,968(()) 2. ()96951231 66
961231 951231 $ - $ 43,898 574,641 591,102 350 350 15,602 15,689 108,165 108,165-15,203 ( 282) ( 32,369) 698,476 742,038 - ( 698,476) ( 742,038) $ - $ - 3. 91 () 1. 94 7 1 2. 87 2 28 2 16 1 61 87 3 1 15 2 16 ( ) 25 1.5 16 1 26 ( ) 1 51 ( ) 51 87 3 1 7 (1) 9 6 9 5 $ 7,208 $ 10,088 9,427 10,806 ( 3,712) ( 3,449) ( 5,846) ( 5,846) 594 594 () 5,332 5,686 $ 13,003 $ 17,879 (2) 961231 951231 3.50% 3.75% 2.75% 2.75% 2.75% 2.75% Annual Report 2007 67
(3) 961231 951231 ($ 136,934) ($ 130,668) ($ 206,342) ($ 193,582) ($ 271,383) ($ 251,380) 144,647 134,989 ( 126,736) ( 116,391) ( 40,921) ( 46,767) 5,349 5,943 () 99,891 94,461 ($ 62,417) ($ 62,754) 3. 94 7 1 6% 96 95 $4,949 $3,895 () 9511()$18,090,000()1,809,000 10961231 () () 1.30 4%7% 2.34 3.15 4. 5.87 68
6.96 41 7.96( ) 8.96950.6611.108 9.95 96 () (1) A. $ 69,626 B. (A) - (B) $ - (C) - C. $ - (2)() A.() $ 1.00 B.() $ 0.96 96 =(--)/ 10. 86 $ 792 $ - - 9495 985 - - 96 1,346,721 56,617 4.20% 9612319695 9641.45% () 95$469,921($258,999$210,922) $167,57196 Annual Report 2007 69
() 969512311871779695 9 6 9 5 $ 220,749 $ 220,873 12,445 10,683 29,428 21,774 15,405 14,227 14,254 16,539 3,123 2,408 () 9 6 9 5 (A) $ 1,522,546 $ 2,132,013 (B) $ 1,346,721 $ 1,808,479 ()(C) 1,809,000 1,809,000 () [(A)(C)] $ 0.84 $ 1.18 [(B)(C)] $ 0.74 $ 1.00 () 9596 () (9612) (9612) (9612) 70
() 1.9695 96 $ 652 $ 3,850 $ 4,502 $ 1 1,700 12,009 13,709 2 $ 2,352 $ 15,859 $ 18,211 $ 3 95 $ 346 $ 3,384 $ 3,730 $ 5 2,763 25,249 28,012 568 $ 3,109 $ 28,633 $ 31,742 $ 573 2.9695 9 6 $2,000,000 629 $ - - $ 954 9 5 $3,000,000 $ - - $ 3,300 600,000 112 - - 24 $ - $ 3,324 1211 3.9695 9 6 $ 2,000,000 110 $ - - $ 881 3,000,000 66 - - 312 $ - $ 1,193 Annual Report 2007 71
9 5 $4,500,000 $3,000,000 1.68% $ 9,731 300,000 125-24 $3,000,000 $ 9,755 919 4.96951231$70,000$09695 5001,1570.12%0.19% 5.9695 96 () ($ 4,740) (0.36%) 6,239 0.48% 598 0.05% ( 1) - $ 2,096 0.17% 95 () $ 9,820 0.79% ( 4,170) (0.34%) 191 0.01% $ 5,841 0.47% 6.9695 96 $ 46,530 $ 624-1,056 68,986 4,674 $ 115,516 $ 6,354 72
95 $ - $ 2,546 189,246 1,389 83,844 2,854 $ 273,090 $ 6,789 7.95$4696951231 8.() 96951231 961231 951231 $ 200,000 $ 1,610,000 1,720,000 300,000 949,266 903,918 $ 2,869,266 $ 2,813,918 ()96951231 961231 951231 $ 78,876,600 $ 84,781,400 $ 187,710,079 $ 185,867,698 $ 3,243,515 $ 3,187,350 () () 97121961231 1.85126 2. () 3.961231() $1,462,02987 $111,936(()) ()94$38,750 $11,4765% ()952981 2,1226,367 Annual Report 2007 73
() 96 12 31 95 12 31 $ 9,904,376 $ 9,904,376 $ 11,288,138 $ 11,288,138 116,736,437 116,736,437 97,601,402 97,601,402 90,438,918 90,438,918 108,938,680 108,938,680 1,888,201 1,888,201 1,954,024 1,954,024 320,302 320,302 623,701 623,701 1,573,965 1,573,965 1,292,158 1,292,158 560,236 560,236 589,092 589,092 $ 221,422,435 $221,422,435 $ 222,278,195 $ 222,278,195 $ 201,999,930 $ 201,999,930 $ 200,627,332 $ 200,627,332 96 12 31 95 12 31 $ 28,770 $ 28,770 $ - $ - - - 7,599 7,599 $ 28,770 $ 28,770 $ 7,599 $ 7,599 $ 14,066 $ 14,066 $ 35,875 $ 35,875 14,861 14,861 28,335 28,335 7,306 7,306 - - $ 36,233 $ 36,233 $ 64,210 $ 64,210 74
1. () 2.( ) 3. 4. () 96 12 31 95 12 31 $ 111,917,792 $ - $ 91,052,992 $ - 56,607-192,826-5,036,889-6,288,968-88,534-54,902-93,283-6,091-631,217 89,714,418 7,239,408 101,693,181-320,302-623,701 7,599 28,770 - - - - ( 7,306) - - - ( 14,066) - ( 35,875) - ( 14,861) - ( 28,335) 1.96951231$193,145,922$191,265,219 $14,592,000$15,695,000$36,233$64,210 2.9695$2,252,717 $2,433,053$3,050,457$2,604,6479695 $1,342,906$394,644(9511 ) Annual Report 2007 75
3.9695$410,283$624,065$26,081 $48,234$384,202$575,831 ()() (RP) 3090180 () 1. 2. 961231 $185,605,900$78,876,600 76
961231 51.1% 96 12 31 95 12 31 $ 111,917,792 $ 111,917,792 $ 91,052,992 $ 91,052,992 5,036,889 5,036,889 6,288,968 6,288,968 - - 7,599 7,599 90,345,635 90,345,635 108,932,589 108,932,589 320,302 320,302 623,701 623,701-78,876,600-84,781,400 $ 207,620,618 $ 286,497,218 $ 206,905,849 $ 291,687,249 961231 951231 $ 28,875,300 $ 31,335,400 23,283,800 26,583,200 14,011,900 16,226,100 3,859,500 5,348,700 4,466,400 2,589,700 -- 4,379,700 2,698,300 $ 78,876,600 $ 84,781,400 3. Annual Report 2007 77
961231 $ 6,102 $ 6,102 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 45,958 45,958 47,061 47,061 18,899 18,899 - - - - - - - - - - - - - - - - - - - - - - - - 98 98 - - 517 517 1,515 1,515 1,709 1,709 775 775 139 139 276 276 - - 2,802 2,802 442 442 - - - - - - - - - - - - 4,736 4,736 - - 4,709 4,709 6,872 6,872 15,008 15,008 4,343 4,343 3,674 3,674 8,419 8,419 499 499 399 399 4,239 4,239 1,863 1,863 1,941 1,941 4,926 4,926 491 491 6,354 6,354 300 300 - - 4,645 4,645 2,462 2,462 3,493 3,493 5,350 5,350 2,721 2,721 2,902 2,902 - - - - - - 100 100 40 40 - - 181 181 - - 60,397 60,397 48,419 48,419 34,007 34,007 13,006 13,006 21,257 21,257 14,758 14,758 7,343 7,343 17,773 17,773 13,980 13,980 - - - - - - - - - - - - - - 171,427 171,427 14,343 14,343 1,940 1,940 - - - - - - - - - - 185,407 185,407 14,343 14,343 1,940 1,940 - - - - - - - - - - ($ 125,010) ($ 125,010) $ 34,076 $ 34,076 $ 32,067 $ 32,067 $ 13,006 $ 13,006 $ 21,257 $ 21,257 $ 14,758 $ 14,758 $ 7,343 $ 7,343 $ 17,773 $ 17,773 78
951231 $ 6,528 $ 6,528 $ - $ - $ 604 $ 604 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - 17,513 17,513 42,086 42,086 31,454 31,454 - - - - - - - - - - - - - - - - - - - - - - 351 351 99 99 60 60 50 50 755 755 1,816 1,816 2,468 2,468 424 424 288 288 - - 3,107 3,107 80 80 - - - - - - - - - - - - 625 625 930 930 1,891 1,891 11,074 11,074 7,269 7,269 15,037 15,037 3,855 3,855 18,384 18,384 - - 100 100 2,873 2,873 4,799 4,799 2,037 2,037 1,963 1,963 4,953 4,953 7,120 7,120 - - - - 1,436 1,436 5,144 5,144 2,513 2,513 3,500 3,500 5,504 5,504 2,296 2,296 - - - - 300 300 - - 100 100 43 43 - - 181 181 27,833 27,833 43,246 43,246 39,313 39,313 22,833 22,833 14,387 14,387 20,967 20,967 14,951 14,951 28,080 28,080 14,425 14,425 - - - - - - - - - - - - - - 164,827 164,827 18,842 18,842 2,199 2,199 - - - - - - - - - - 179,252 179,252 18,842 18,842 2,199 2,199 - - - - - - - - - - ($ 151,419) ($ 151,419) $ 24,404 $ 24,404 $ 37,114 $ 37,114 $ 22,833 $ 22,833 $ 14,387 $ 14,387 $ 20,967 $ 20,967 $ 14,951 $ 14,951 $ 28,080 $ 28,080 Annual Report 2007 79
4. 96951231 ( ) 961231 $ 1,099 $ 5,283 $ 1,869 $ - $ - $ - $ - $ - 785 1,167 4,389 - - - - - 951231 $ 1,231 $ 5,802 $ 1,597 $ - $ - $ - $ - $ - 945 1,296 4,824 - - - - - () 80
() (1) (2) (3) 9695 () 9 6 9 5 ( 1 ) (%) ( 1 ) (%) (2) $ 609,312 1.79% $ 4,208,644 2.34% 832,225 1.87% 2,030,749 1.55% 97,234,464 1.76% 91,184,443 1.23% 6,072,246 1.52% 14,814,911 1.48% 96,990,643 2.14% 92,812,719 2.19% 6,566,219 1.99% 4,333,148 1.60% 179,484,453 1.63% 186,137,553 1.36% 1 2 () () (1) 961231 951231 $ 16,413,417 $ 17,090,020 127,863,405 131,286,839 12.84% 13.02% 17.01% 17.23% 0.92% 0.69% - - 9.71% 10.25% 1.= 2. 3.612(612) Annual Report 2007 81
(2) 961231 951231 $ - $ - () 624,585 703,221 () 1,213,400-624,585 665,232 0.79% 0.82% 2.28% 0.82% 1,540,758 2,453,834 1,873,654 2,567,963 (3) A. 961231 951231 $ 78,876,600 $ 84,781,400 4.30 4.87 187,468,948 185,621,052 10.22 10.66 B. 961231 951231 $ 1,067,000 $ 575,000 (%) 1.35 0.68 (%) 17.10 19.00 (%) () 29.52 31.36 36.61 36.96 17.76 19.14 C. (A) 82
(B)() 20% D. () () () 961231 () (961231 ) 130 3190 91180 181 $ 45,958 $ 47,061 $ 11,728 $ 7,171 $ - 5,537 918 4,491 10,653 75,026 330 - - - - 6,101 - - - - 2,802 442 - - - 60,728 48,421 16,219 17,824 75,026 13,980 - - - - 171,427 14,343 1,862 78 - - - - - 21,919 185,407 14,343 1,862 78 21,919 ( 124,679) 34,078 14,357 17,746 53,107 ( 124,679) ( 90,601) ( 76,244) ( 58,498) ( 5,391) Annual Report 2007 83
() (961231 ) 190 91180 1811 1 109,149 16,219 17,824 75,026 218,218 199,750 1,862 78-201,690 ( 90,601) 14,357 17,746 75,026 16,528 21,919 108.19% 75.40% () 1. 2. 3. 4. 5. 6. 7. 8. () 104 $ 1,247,746 $ 1,247,746 126,716,200 24.55% $ 1,270,371 ($ 199,861) ($ 49,065) 1233 2,414,859 2,414,859 198,551,047 24.01% 2,168,950 654,075 133,690 188 15 85,803 300,000 6,000,000 100% 60,014 14 1993 B1 436,836 436,836 44,930,760 99% 461,024 22,682 231 3 () 84