Kent Commerce Bank
Kentwood, MI — Domestic Branch of a Domestic Bank
Acquired Mar 2009
Net Income Analysis
( % relative to Total Revenue )
Income Statement | Kent Commerce Bank | All Insured Commercial Banks in Michigan |
Interest and Fees on Loans | 5,071 | 11,817 |
Income from Lease Financing Receivables | — | 8,865 |
— | 347 | |
Estimated Tax Benefit from Tax-Exempt Loan Income | — | 49 |
Income on Loans and Leases (TE) | 5,071 | 11,846 |
Investment Interest Income (TE) | — | 4,705 |
Total Interest Income (TE) | 5,118 | 12,971 |
Total Interest Expense | 2,475 | 5,709 |
Net Interest Income (TE) | 2,643 | 7,592 |
Non-Interest Income | — | 8,140 |
Adjusted Operating Income (TE) | 2,454 | 9,261 |
Non-interest Expense | 2,906 | 7,126 |
Provision for Loan & Lease Losses | 2,540 | 4,449 |
Pretax Operating Income (TE) | — | 2,577 |
Pretax Net Operating Income (TE) | — | 2,470 |
Applicable Income Taxes | — | 1,838 |
Net Operating Income | — | 1,647 |
Net Income | — | 1,647 |
Cash Dividends Declared | — | 2,444 |
Retained Earnings | — | 585 |