Covenant Bank
Clarksdale, MS — Domestic Branch of a Domestic Bank
Acquired Feb 2016
Net Income Analysis
( % relative to Total Revenue )
Income Statement | Covenant Bank | All Insured Commercial Banks in Mississippi |
Interest and Fees on Loans | 8,667 | 15,284 |
Income from Lease Financing Receivables | — | 2 |
— | 21 | |
Estimated Tax Benefit from Tax-Exempt Loan Income | — | 11 |
Income on Loans and Leases (TE) | 8,667 | 15,305 |
Investment Interest Income (TE) | 547 | 2,856 |
Total Interest Income (TE) | 9,276 | 18,232 |
Total Interest Expense | 765 | 1,582 |
Net Interest Income (TE) | 8,511 | 16,650 |
Non-Interest Income | 2,270 | 5,085 |
Adjusted Operating Income (TE) | 10,781 | 21,735 |
Non-interest Expense | 9,245 | 15,009 |
Provision for Loan & Lease Losses | 830 | 438 |
Pretax Operating Income (TE) | 706 | 6,293 |
Pretax Net Operating Income (TE) | 706 | 6,311 |
Applicable Income Taxes | -5 | 1,393 |
Net Operating Income | 636 | 4,509 |
Net Income | 636 | 4,509 |
Cash Dividends Declared | 607 | 2,750 |
Retained Earnings | 29 | 1,662 |