Grand Bank
Grand Rapids, MI — Domestic Branch of a Domestic Bank
Acquired Jan 2003
Net Income Analysis
( % relative to Total Revenue )
Income Statement | Grand Bank | All Insured Commercial Banks in Michigan |
Interest and Fees on Loans | 11,029 | 11,274 |
Income from Lease Financing Receivables | — | 6,712 |
— | 248 | |
Estimated Tax Benefit from Tax-Exempt Loan Income | — | 117 |
Income on Loans and Leases (TE) | 11,029 | 11,353 |
Investment Interest Income (TE) | 404 | 2,424 |
Total Interest Income (TE) | 11,583 | 12,929 |
Total Interest Expense | 4,968 | 4,835 |
Net Interest Income (TE) | 6,615 | 8,249 |
Non-Interest Income | 2,683 | 2,184 |
Adjusted Operating Income (TE) | 9,298 | 10,289 |
Non-interest Expense | 4,982 | 6,159 |
Provision for Loan & Lease Losses | 254 | 5,044 |
Pretax Operating Income (TE) | 4,062 | 21,459 |
Pretax Net Operating Income (TE) | 4,062 | 22,986 |
Applicable Income Taxes | 1,366 | 8,099 |
Net Operating Income | 2,658 | 14,748 |
Net Income | 2,658 | 14,723 |
Cash Dividends Declared | 1,000 | 10,195 |
Retained Earnings | 1,658 | 7,501 |