Net Income Analysis ( % relative to Total Revenue )
Income Statement Gogebic Range Bank All Insured Commercial Banks in Michigan
Interest and Fees on Loans 3,065 10,938
Income from Lease Financing Receivables — 10
33 29
Estimated Tax Benefit from Tax-Exempt Loan Income 17 15
Income on Loans and Leases (TE) 3,082 11,173
Investment Interest Income (TE) 397 1,280
Total Interest Income (TE) 3,525 12,846
Total Interest Expense 264 1,055
Net Interest Income (TE) 3,261 11,693
Non-Interest Income 260 4,070
Adjusted Operating Income (TE) 3,521 16,296
Non-interest Expense 1,994 11,085
Provision for Loan & Lease Losses 125 218
Pretax Operating Income (TE) 1,402 4,891
Pretax Net Operating Income (TE) 1,402 4,954
Applicable Income Taxes 398 1,175
Net Operating Income 922 3,652
Net Income 922 3,589
Cash Dividends Declared 585 1,687
Retained Earnings 337 1,748