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JUN 1 22011FR Y{OllB Nunb.r 710114297Am{EYd.ariE S.DLmbcr 3lr, 20ltP.gr t d2
Board of Governorc of the Fedsral Rsserve System
Annua Report of Holding Companies-FR Y-G
Reportattheclose ofbuslness as oflhe end offiscal year
Thls Report is required by lam Section fcXtXA) of lhe BankHotding Cornparry Acl (12 U.S.C. S lBaa(c[l[A)); seclions 8(a)and l3(a) of lhe lntemational Bankirp Act (12 U.S.C. SS 310(a)and 3108(a)); sections 11(aX1). 25, and 25A ot the FederalReserve Act (12 U.S.C. SS 248(aXl), 602, and 611a); and sec-tlons 1'13, 165, 312, 618, and 809 ol lhE Doddfrank Act (12 U.S.C.
SS 5361,536s,5412. 1850{cXi). and 5468(b[1)). Retum to thoappmpdate Federal Reserv€ Bank the origlnal and the number ofcopies specjlied.
This report lorm is to b€ liled by all toptier bank hdding oompa-nies, toplier savlngs and loan holdirq companles, and U.S. lnler-medial8 holdhg companles organlzed urdar U.S. lar, and byany forepn banklng organtsallon lhat do€s nol me€t lhe require-ments of and ls not treated as a qualityittg foreQn banking orga-nization under Section 211.?3 ot Regulation K (12 C.F.R. S211.23). (See page one of lhe general lmlrudirns for morE delailol who must frle.) The Federal Resenre rnay not mnduct or sporl-sor, and an organizalion (or a person) is not requir€d to respondto, an lnfonnation collection unless lt displays a annenUy validOMB control number.
NOTE: The Annual Repod ol Ho6irp Companiesmust be slgned byone dlreclor of lhe toplier holding corpany. This indivilual shouHalso be a senior otrrial ol lhe toptier holding company. ln the evenlthat the topthr hotsing company does not have an indivilual who b6 senlor ofrcial and is also a dileclor, he draiman of thc board mustsign lhe report. lf lhe holding company is an ESOP/ESOT formed asa corporation or is an LLC. see the Genenl lnsEudhns for fieauthorized individual who must sQn lhe repo(l. Mike Broussard
Name olthe Holdhg Comprny Dioclorand Ofric'ral
Presldentffie o, tha Holding Compony Oireclor and OtrtcEl
alt$t that lhe Annual Repod ol Holding @mpanbs (hcludingthe supporling atlachments) for this report date has been prepared ln conformance wih he inslructirns issued by the FderalReserve Syslem and are lrue and conect lo the best of mykrnwledge and belief.
Mlh raspect lo inlormatkn rryatdiq idlviduals contained in lhisrcpod. the Rapder crldifus lhal it has the aullnrily lo provide thisinlomahon lo lhe ftdenl Reserve. The Repoder also certifresthal il has the authority, on hehall of aail idividual, lo cnnsenl orobjecl lo public release of inlormatim ngading thst individualThe Federcl Reserve may assume, in the ebsencr of a nquesl lornnfrdenlial lrealment submitted in awdlangB with lhe Board's'Rules Regarding Availabihty of lnlomafion,' 12 C.ER, Pad 261,that lha Reporlar and individual ansent to public raloa* ol all
Date of Report (top-tier holding corpany's fscal year-end):
_DscglEer tt..?0_19_Mo.rlh, Oay, Year
LEI: NoneRogo(cr'. Lrgal Enlity rd€nrifier (LEl) (204hat"dd LEI Co.rol
Reporle/s Name. Skeet, and Mailing Address
grrqd etfl E-Eer[gh a-tw- I
Lcaal f,ll. ol Hoklirg Co{npsny
PO Box 1621(Maling Addroas of lho Holdirqg Companll SM I PO Eor
Levelland TXCity SlalG
79336Zip Codo
!9 t s._!legs_!!er4fe, _s_u !9grn, r x'l 937_2_ _
Physic.l Localirn (i, dillsleal lrom malLrg addtEts,
Person to whom quesUons about 0ris reporl should be dlrecled:Mike Broussard PresidentNam6
806-894-7799filc
Aroa Code / Phons Nurnbcr, Eflensbn
806-834-2789Arae Code / FAX Nunb€r
delailsin tha Ep,l @nceming lhal individual mbroussard@sundownsb.com
SaglnElur! ot Holding C€rDprny Oirlclor ard Offcbl
FEBRUARY 22, 2OI7Date ol
For Federal Reaewe Bank Use Only
RSSD IDc.l.
ltD.{ )7 1
PUUE .roofin0 hjrdGn hr lhrs rnto,meton colladro.r 6 crumrtrd lo vafy lrdr I 3 lo tol hou6 9€r EDon3r, ulh rn ncragu d 5 50 horr! pat ,laponsi ndudhg tmc b galhd &16
Of,cr of UeugEncttl .Ird BdgGl, Prpcflffit Fl.Aldton FtE ccl (?100{297}. Wrilvrgtm, OC 20503 f 22016
E+ne Addrs*
.NJAfaahss 1Unll tor Uia Holdi rg Comp.rfi w€b page
For lmlding companias astlragislsed with lhe SEl+lndlcale gatu3 otAnnual Repod to SharehddeG
EJ ts tncUaeO wilh the FR Y{ reporlE wu Ue s€flI undar sopErale cover
E rnapreparea
0rXo
lrYu 0ls conndenual fo.bn nl requ6t.d for lny pordmd thlr rcport submlagloo?...,ln accordance wltlr ahe Goned lnstrucdom for lib rsport(chcdr mty crol,
1. E lottGrluitlfylng 0rlt rsqu$t ls b€lng prcvldod along
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NOIE: lnformauo.r for wltl.fi confidqr6.l tratlmolrl 13 bdngroqrertad must be provldsd rcparalrly rnd laboladrs'cocfidcnUal-
rfwtlh the Gport
tcplrrlcly...,.
t
sIJI'itDOWt{ INC.
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SUND(,-WI{STATEBAIiIK$NIX}WN,TEXAS,USA
nICORPORATED IN TEXAS
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ELC COUNTANTS
621 West 7th Street Plainview, TX79O72 2405z9th Street Lubbock, TX79411
To the Board of Directors
Sundown Bankshares, lncLevelland, Texas
Management is responsible for the accompanying financial statements of Sundown Bankshares, Inc. (parent
company only) and Sundown Bankshares,Inc. (consolidated), which comprise the balance sheets as of December
31,2016 and2015, and the related statements of income and changes in stockholders' equity for the years then
ended in accordance with accounting principles generally accepted in the United States of America. We have
performed a compilation engagement in accordance with Statements on Standards for Accounting and Review
Services promulgated by the Accounting and Review Services Committee of the AICPA. We did not audit or
review the financial statements nor were we required to perform any procedures to veriff the accuracy or
completeness of the information provided by management. Accordingly, we do not expness an opinion, aconclusion, nor provide any form ofassurance on these financial statements.
Management has elected to omit substantially all the disclosures and the statement of cash flows required by
accounting principles generally accepted in the United States of America. [f the omitted disclosures and statement
of cash flows were included in the financial statements, they might influence the user's conclusions about the
Company's financial position, results of operations, and cash flows. Accordingly, the financial statements are not
designed for those who are not informed about such matters.
Moseley & Riddle
Lubbock, Texas
January 6,2017
Phone: 806.293.3681 Fax: 806.293.3338 Phone: 806.281.9245 Fax: 806.293.3338
1 ,\ .i', ,I
MAR -s ZOr
CPAMember: American lnstitute of Certified Public Accountants
America Counls on CPAS
Member: Texas Society of Certified Public Accountants
SUNDOWN BANKSHAR"ES, INC.(PARENT COMPANY ONLY)
BALANCE SHEETS
DECEMBER 31,2016 AND 2015
ASSETS
Cash
Other Assets
Investment in unconsol idated subsidiary
Excess cost over equity in subsidiary less
accumulated amortization
TOT,AL ASSETS
LIABILITIES AND STOCKHOLDERS' f,QUITYAccrued expenses
TOTAL LIAB]LITIES
STOCKHOLDERS' EQUITYCommon stock, $10 par value; 200,000 shares authorized
120,140 and I 19,840 issued and outstanding, respectively
Additional paid-in capital
Retained earnings
Accumulated other comprehensive income
TOTAL STOCKHOLDERS' EQUITY
TOTAL LIABILMIES ANDSTOCKHOLDERS' EQUITY
2016 2015
$ t,097,616 $ 1,096,958
15,221,781 14,760,042
88,700 88,700
$ 16,408,103 $ 15,945,700
$
16,408,103 15,945,700
$ 16,408,103 $ 15,945,700
$
MAR -3 2017
NIC UNIT
See accountants' compi lation report
SUNDOWN BANKSHARES, INC.(PARENT COMPANY ONLI)STATEMENTS OF INCOME
FOR THE YEARS ENDED DECEMBER 31, 2016 AND
REVENUEEquity in earnings of unconsolidated subsidiary
TOTAL REVENUE
OPERATING EXPENSES
Other expenses
TOTAL OPERATING EXPENSES
INCOME BEFORE FEDERAL INCOME TAXBENEFIT (EXPENSE)
2016 2015
$ r,476,334 $ 1,808,139
r,476,334 r,830,868
1,476,334 r,808,139
1,476,334 I,808, I 39
6,328 3,009
$ 1,482,662 $ l,8l1,148
FEDERAL INCOME TAXES
NET INCOME
OTHER COMPREHENSIVE TNCOME, NET OF TAXChange in unrealized gain (loss) on securities
TOTAL COMPREHENSIVE INCOME
Dlt,lAR -3 2017
NIC UNIT
See accountants' compilation report
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ASSETSCash and Cash Equivalents
Cash and due from banks
Total Cash and Cash Equivalents
lnvestment Securities
Available-for-saleHeld-to-maturity
Total Investment Securities
Loans, net of allowance for loan losses
Federal Home Loan Bank stockAccrued interest receivablePremises and equipment, net
Excess ofcost over equity in acquired companyOther assets
TOTAL ASSETS
LIABILITIES AND STOCKHOLDERS' EQUITYDeposits
Noninterest bearing
Savings and NOW deposits
Other time deposits
Total DepositsFed funds purchased
Interest payable and other liabilitiesTOTAL LIABILITIES
STOCKHOLDERS' EQUITYCommon stock, $10 parvalue; 200,000 shares authorized
120,140 and 1 I 9,840 issued and outstanding, respectivelyAdditional paid-in capitalRetained eamingsAccumulated other comprehensive income
TOTAL STOCKHOLDERS' EQUITY
TOTAL LIABILITIES ANDSTOCKHOLDERS' EQUITY
SUNDOWN BANKSHARES, INC.CONSOLIDATED BALANCE SHEETS
DECEMBER 31,2016 AND 2015
l'{AR -3 201?
NIC UNIT
2016 2015
$ 22,813,t63 $ 21,912,20622,813,163 21,912,206
359,327
32,121,451351,487
43.261 ,8 l232.480,778 43,613,299
79 74,406 85,023,550
76,9002,077,t872,453,450
88,700
3,s69,993
76,9001,977,557
2,652,72388,700
544,5 l0
$ 142,934,s77 $ r 55,889,445
$ 52,352,23946,214,04327,311,421
$ 49,066,377
61,276,90428.922,100
125,877,703 139,265,381
648 771 678,364126,526 474 139,943,74s
r,201,4003,900,449
I |,295 ,57 I
10,683
103 t5 945 700
s 142,934,577 $ r 55,889,445
l, I 98,400
3,864,48t10,878,464
4,355
See accountants' compi lation report
SUNDOWN BANKSHARES, I NC.CONSOLIDATED STATEMENTS OF INCOMEYEARS ENDED DECEMBER 3I, 20I6 AND 20I5
2016 2015
INTEREST INCOMEInterest and fees on loansInterest on investment securitiesInterest on federal funds sold
TOTAL INTEREST INCOME
INTEREST EXPENSEInterest expense on depositsInterest expense on borrowrngs
TOTAL INTEREST EXPENSE
NET INTEREST INCOME
PROVISION FOR LOAN LOSSES
NET INTEREST INCOME AFTER PROVISIONFOR LOAN LOSSES
OTHER INCOMEDividend income
Service charges and fees
Other service charges and fees
Other income
TOTAL OTHER INCOME
OTHER EXPENSESSalaries and employee benefits
Occupancy expense
Other operating expenses
TOTAL OTHER EXPENSES
INCOME BEFORE INCOME TAXES
INCOME TAXES
NET INCOME
OTHER COMPRHENSTVE INCOME, NET OF TAXChange in unrealized gain (loss) on available for sale securities
TOTAL COMPREHENSIVE INCON{E
$ 4,240,0951,238,454
54,624
$ 4,362,3721,330,232
70,2145,533,1 73 5 762,818
404,47535
329,147
404,510 329,147
5,128,663
70,631
5,433,67 t
130,747
s,058,032 5,302,924
J 1J
872,34867,336
202,059I , 142,05 6
274
999,466
112,96995 997
1,208,706
2,699,805653,380
I,132,430
2,634,31s628,440
1,213,5574,485,615 4,476,3t2
2,035,3 l81,714,473
238 139 227 179
$ r,476,334 $ 1,808,139
6,238 3,009
$ r,482,s72 $ l,8l 1,148
D
DMAR -s 2017
NIC UNIT
See accountants' compilation report
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