Independence Bank
East Greenwich, RI — Non-member Bank
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Net Income Analysis
( % relative to Total Revenue )
Income Statement | Independence Bank | All Insured Commercial Banks in Rhode Island |
Interest and Fees on Loans | 2,413 | 526,340 |
Income from Lease Financing Receivables | — | 16,000 |
— | 750 | |
Estimated Tax Benefit from Tax-Exempt Loan Income | — | 354 |
Income on Loans and Leases (TE) | 2,413 | 542,694 |
Investment Interest Income (TE) | — | 57,680 |
Total Interest Income (TE) | 2,453 | 606,823 |
Total Interest Expense | 159 | 67,561 |
Net Interest Income (TE) | 2,294 | 539,262 |
Non-Interest Income | 5,995 | 214,951 |
Adjusted Operating Income (TE) | 8,289 | 754,213 |
Non-interest Expense | 4,518 | 472,528 |
Provision for Loan & Lease Losses | 990 | 46,872 |
Pretax Operating Income (TE) | 2,781 | 234,814 |
Pretax Net Operating Income (TE) | 2,781 | 234,122 |
Applicable Income Taxes | 1,117 | 74,645 |
Net Operating Income | 1,664 | 158,991 |
Net Income | 1,664 | 158,991 |
Cash Dividends Declared | 457 | 70,900 |
Retained Earnings | 1,207 | 88,091 |