Net Income Analysis ( % relative to Total Revenue )
Income Statement Grand Marais State Bank All Insured Commercial Banks in Minnesota
Interest and Fees on Loans 2,505 4,864
Income from Lease Financing Receivables — 12
— 40
Estimated Tax Benefit from Tax-Exempt Loan Income — 20
Income on Loans and Leases (TE) 2,505 4,921
Investment Interest Income (TE) 530 592
Total Interest Income (TE) 3,063 5,709
Total Interest Expense 202 508
Net Interest Income (TE) 2,861 5,181
Non-Interest Income 334 905
Adjusted Operating Income (TE) 3,195 6,155
Non-interest Expense 2,199 4,018
Provision for Loan & Lease Losses 15 126
Pretax Operating Income (TE) 981 1,907
Pretax Net Operating Income (TE) 987 1,940
Applicable Income Taxes — 97
Net Operating Income 940 1,682
Net Income 940 1,683
Cash Dividends Declared 538 1,029
Retained Earnings 402 636