Avery County Bank
Newland, NC — Domestic Branch of a Domestic Bank
Acquired Oct 2003
Net Income Analysis
( % relative to Total Revenue )
Income Statement | Avery County Bank | All Insured Commercial Banks in North Carolina |
Interest and Fees on Loans | 1,148 | 24,249 |
Income from Lease Financing Receivables | — | 74,118 |
— | 5,794 | |
Estimated Tax Benefit from Tax-Exempt Loan Income | — | 2,983 |
Income on Loans and Leases (TE) | 1,148 | 24,548 |
Investment Interest Income (TE) | 1,707 | 5,167 |
Total Interest Income (TE) | 2,951 | 30,146 |
Total Interest Expense | 708 | 9,207 |
Net Interest Income (TE) | 2,243 | 20,939 |
Non-Interest Income | 169 | 8,933 |
Adjusted Operating Income (TE) | 2,412 | 29,870 |
Non-interest Expense | 840 | 21,006 |
Provision for Loan & Lease Losses | — | 10,234 |
Pretax Operating Income (TE) | 1,572 | 266,108 |
Pretax Net Operating Income (TE) | 2,151 | 283,171 |
Applicable Income Taxes | — | 107,969 |
Net Operating Income | 1,991 | 190,424 |
Net Income | 1,991 | 190,424 |
Cash Dividends Declared | 576 | 379,452 |
Retained Earnings | 1,415 | 15,529 |