First Essex Bank
Lawrence, MA — Domestic Branch of a Domestic Bank
Acquired Feb 2004
Net Income Analysis
( % relative to Total Revenue )
Income Statement | First Essex Bank | All Insured Savings Banks in Massachusetts |
Interest and Fees on Loans | 79,875 | 11,643 |
Income from Lease Financing Receivables | — | — |
403 | 1,134 | |
Estimated Tax Benefit from Tax-Exempt Loan Income | 140 | 562 |
Income on Loans and Leases (TE) | 80,015 | 11,647 |
Investment Interest Income (TE) | 17,322 | 4,047 |
Total Interest Income (TE) | 99,192 | 15,991 |
Total Interest Expense | 30,724 | 5,693 |
Net Interest Income (TE) | 68,468 | 10,293 |
Non-Interest Income | 9,987 | 1,723 |
Adjusted Operating Income (TE) | 78,455 | 12,111 |
Non-interest Expense | 38,721 | 8,164 |
Provision for Loan & Lease Losses | 8,832 | 561 |
Pretax Operating Income (TE) | 30,902 | 3,945 |
Pretax Net Operating Income (TE) | 30,902 | 4,422 |
Applicable Income Taxes | 11,353 | 1,556 |
Net Operating Income | 19,277 | 2,755 |
Net Income | 19,277 | 2,760 |
Cash Dividends Declared | — | 3,849 |
Retained Earnings | 19,277 | 3,180 |