Net Income Analysis ( % relative to Total Revenue )
Income Statement Sturgis Bank & Trust Company All Insured Savings Banks in Michigan
Interest and Fees on Loans 12,571 45,618
Income from Lease Financing Receivables — 34
13 22
Estimated Tax Benefit from Tax-Exempt Loan Income 6 11
Income on Loans and Leases (TE) 12,577 45,663
Investment Interest Income (TE) 1,722 7,154
Total Interest Income (TE) 14,701 53,741
Total Interest Expense 1,720 9,720
Net Interest Income (TE) 12,981 44,021
Non-Interest Income 5,041 45,416
Adjusted Operating Income (TE) 18,022 89,437
Non-interest Expense 13,595 57,756
Provision for Loan & Lease Losses 357 -740
Pretax Operating Income (TE) 4,070 32,421
Pretax Net Operating Income (TE) 4,071 32,822
Applicable Income Taxes 757 11,329
Net Operating Income 2,858 21,424
Net Income 2,858 21,424
Cash Dividends Declared 1,466 19,867
Retained Earnings 1,392 1,558