Portage Commerce Bank
Portage, MI — Domestic Branch of a Domestic Bank
Acquired Mar 2009
Net Income Analysis
( % relative to Total Revenue )
Income Statement | Portage Commerce Bank | All Insured Commercial Banks in Michigan |
Interest and Fees on Loans | 13,178 | 11,817 |
Income from Lease Financing Receivables | — | 8,865 |
71 | 347 | |
Estimated Tax Benefit from Tax-Exempt Loan Income | 37 | 49 |
Income on Loans and Leases (TE) | 13,215 | 11,846 |
Investment Interest Income (TE) | 77 | 4,705 |
Total Interest Income (TE) | 13,420 | 12,971 |
Total Interest Expense | 6,159 | 5,709 |
Net Interest Income (TE) | 7,261 | 7,592 |
Non-Interest Income | 980 | 8,140 |
Adjusted Operating Income (TE) | 8,241 | 9,261 |
Non-interest Expense | 3,833 | 7,126 |
Provision for Loan & Lease Losses | 820 | 4,449 |
Pretax Operating Income (TE) | 3,588 | 2,577 |
Pretax Net Operating Income (TE) | 3,588 | 2,470 |
Applicable Income Taxes | 1,185 | 1,838 |
Net Operating Income | 2,366 | 1,647 |
Net Income | 2,366 | 1,647 |
Cash Dividends Declared | 1,840 | 2,444 |
Retained Earnings | 526 | 585 |