The Bank Of Northern Michigan
Petoskey, MI — Domestic Branch of a Domestic Bank
Acquired Nov 2015
Net Income Analysis
( % relative to Total Revenue )
Income Statement | The Bank Of Northern Michigan | All Insured Commercial Banks in Michigan |
Interest and Fees on Loans | 9,939 | 7,332 |
Income from Lease Financing Receivables | — | 4 |
18 | 22 | |
Estimated Tax Benefit from Tax-Exempt Loan Income | 10 | 11 |
Income on Loans and Leases (TE) | 9,949 | 7,413 |
Investment Interest Income (TE) | 648 | 919 |
Total Interest Income (TE) | 10,647 | 8,588 |
Total Interest Expense | 1,678 | 751 |
Net Interest Income (TE) | 8,969 | 7,752 |
Non-Interest Income | 1,067 | 2,625 |
Adjusted Operating Income (TE) | 10,036 | 10,755 |
Non-interest Expense | 6,724 | 7,376 |
Provision for Loan & Lease Losses | — | 95 |
Pretax Operating Income (TE) | 3,312 | 3,286 |
Pretax Net Operating Income (TE) | 3,661 | 3,325 |
Applicable Income Taxes | 625 | 816 |
Net Operating Income | 3,016 | 2,327 |
Net Income | 3,007 | 2,289 |
Cash Dividends Declared | 2,000 | 628 |
Retained Earnings | 1,007 | 1,352 |