Heritage Bank
Norfolk, VA — Domestic Branch of a Domestic Bank
Acquired Feb 2016
Net Income Analysis
( % relative to Total Revenue )
Income Statement | Heritage Bank | All Insured Commercial Banks in Virginia |
Interest and Fees on Loans | 8,795 | 24,702 |
Income from Lease Financing Receivables | — | 0 |
383 | 123 | |
Estimated Tax Benefit from Tax-Exempt Loan Income | 197 | 60 |
Income on Loans and Leases (TE) | 8,992 | 24,847 |
Investment Interest Income (TE) | 520 | 3,256 |
Total Interest Income (TE) | 10,269 | 28,687 |
Total Interest Expense | 722 | 3,250 |
Net Interest Income (TE) | 9,547 | 24,907 |
Non-Interest Income | 898 | 5,858 |
Adjusted Operating Income (TE) | 10,445 | 31,619 |
Non-interest Expense | 7,122 | 21,164 |
Provision for Loan & Lease Losses | — | 786 |
Pretax Operating Income (TE) | 3,323 | 9,311 |
Pretax Net Operating Income (TE) | 3,481 | 9,420 |
Applicable Income Taxes | 941 | 2,444 |
Net Operating Income | 2,343 | 7,244 |
Net Income | 2,343 | 7,197 |
Cash Dividends Declared | 2,380 | 2,291 |
Retained Earnings | -37 | 3,966 |