Heritage Co-Operative Bank
Salem, MA — Domestic Branch of a Domestic Bank
Acquired Feb 2006
Net Income Analysis
( % relative to Total Revenue )
Income Statement | Heritage Co-Operative Bank | All Insured Savings Banks in Massachusetts |
Interest and Fees on Loans | 12,130 | 12,374 |
Income from Lease Financing Receivables | — | — |
— | — | |
Estimated Tax Benefit from Tax-Exempt Loan Income | — | — |
Income on Loans and Leases (TE) | 12,130 | 12,377 |
Investment Interest Income (TE) | 1,984 | 3,584 |
Total Interest Income (TE) | 14,216 | 16,549 |
Total Interest Expense | 5,393 | 6,069 |
Net Interest Income (TE) | 8,823 | 10,440 |
Non-Interest Income | 998 | 1,418 |
Adjusted Operating Income (TE) | 9,821 | 11,910 |
Non-interest Expense | 9,400 | 8,490 |
Provision for Loan & Lease Losses | 65 | 316 |
Pretax Operating Income (TE) | 356 | 3,547 |
Pretax Net Operating Income (TE) | — | 3,982 |
Applicable Income Taxes | — | 1,405 |
Net Operating Income | — | 2,572 |
Net Income | — | 2,572 |
Cash Dividends Declared | — | 4,288 |
Retained Earnings | — | 2,430 |