Independent Bank - South Michigan
East Lansing, MI — Domestic Branch of a Domestic Bank
Acquired Sep 2007
Net Income Analysis
( % relative to Total Revenue )
Income Statement | Independent Bank - South Michigan | All Insured Commercial Banks in Michigan |
Interest and Fees on Loans | 13,706 | 7,370 |
Income from Lease Financing Receivables | — | 6,624 |
17 | 163 | |
Estimated Tax Benefit from Tax-Exempt Loan Income | — | 86 |
Income on Loans and Leases (TE) | 13,706 | 7,392 |
Investment Interest Income (TE) | 2,205 | 5,342 |
Total Interest Income (TE) | 16,615 | 7,932 |
Total Interest Expense | 7,899 | 3,857 |
Net Interest Income (TE) | 8,716 | 4,343 |
Non-Interest Income | 4,365 | 1,077 |
Adjusted Operating Income (TE) | 13,081 | 5,414 |
Non-interest Expense | 9,380 | 3,636 |
Provision for Loan & Lease Losses | 5,581 | 2,690 |
Pretax Operating Income (TE) | — | 12,130 |
Pretax Net Operating Income (TE) | — | 11,928 |
Applicable Income Taxes | — | 4,237 |
Net Operating Income | — | 7,995 |
Net Income | — | 8,375 |
Cash Dividends Declared | 500 | 8,844 |
Retained Earnings | — | 2,244 |