Independent Bank-West Michigan
Grand Rapids, MI — Domestic Branch of a Domestic Bank
Acquired Sep 2007
Net Income Analysis
( % relative to Total Revenue )
Income Statement | Independent Bank-West Michigan | All Insured Commercial Banks in Michigan |
Interest and Fees on Loans | 26,172 | 7,370 |
Income from Lease Financing Receivables | — | 6,624 |
104 | 163 | |
Estimated Tax Benefit from Tax-Exempt Loan Income | 52 | 86 |
Income on Loans and Leases (TE) | 26,224 | 7,392 |
Investment Interest Income (TE) | 1,674 | 5,342 |
Total Interest Income (TE) | 28,046 | 7,932 |
Total Interest Expense | 10,909 | 3,857 |
Net Interest Income (TE) | 17,137 | 4,343 |
Non-Interest Income | 7,454 | 1,077 |
Adjusted Operating Income (TE) | 24,591 | 5,414 |
Non-interest Expense | 14,404 | 3,636 |
Provision for Loan & Lease Losses | 7,182 | 2,690 |
Pretax Operating Income (TE) | 3,005 | 12,130 |
Pretax Net Operating Income (TE) | 3,005 | 11,928 |
Applicable Income Taxes | 430 | 4,237 |
Net Operating Income | 2,103 | 7,995 |
Net Income | 2,103 | 8,375 |
Cash Dividends Declared | 5,250 | 8,844 |
Retained Earnings | — | 2,244 |