Seaway Community Bank
Saint Clair, MI — Domestic Branch of a Domestic Bank
Acquired Oct 2013
Net Income Analysis
( % relative to Total Revenue )
Income Statement | Seaway Community Bank | All Insured Commercial Banks in Michigan |
Interest and Fees on Loans | 5,743 | 7,265 |
Income from Lease Financing Receivables | — | 3 |
18 | 24 | |
Estimated Tax Benefit from Tax-Exempt Loan Income | 9 | 12 |
Income on Loans and Leases (TE) | 5,752 | 7,321 |
Investment Interest Income (TE) | 446 | 834 |
Total Interest Income (TE) | 6,250 | 8,339 |
Total Interest Expense | 928 | 975 |
Net Interest Income (TE) | 5,322 | 7,264 |
Non-Interest Income | 1,939 | 2,243 |
Adjusted Operating Income (TE) | 7,261 | 9,941 |
Non-interest Expense | 4,874 | 7,001 |
Provision for Loan & Lease Losses | 42 | 275 |
Pretax Operating Income (TE) | 2,345 | 2,708 |
Pretax Net Operating Income (TE) | 2,237 | 2,753 |
Applicable Income Taxes | — | 555 |
Net Operating Income | 2,228 | 2,071 |
Net Income | 2,228 | 2,023 |
Cash Dividends Declared | — | 591 |
Retained Earnings | 2,228 | 1,186 |