Golden Valley Bancshares : Income Statement QOQ 3-31-2022
August 15, 2022 at 07:32 pm EDT
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Income Statement Compare
Consolidated (Unaudited)
QTD
QTD
Actual
Actual
Mar 2022
Mar 2021
$ Change
% Change
Interest Income
Interest on Loans
2,680,619
2,616,319
64,300
2.5
Fees on Loans
228,999
807,862
(578,863)
(71.7)
Interest on federal funds sold
13,799
4,111
9,688
235.7
Interest on deposits with banks
44,643
83,039
(38,396)
(46.2)
Investment Securities - Taxable
793,362
478,422
314,940
65.8
Investment Securities - Tax-exempt
47,805
19,163
28,642
149.5
Total Interest Income
3,809,226
4,008,915
(199,689)
(5.0)
Interest Expense
Interest bearing demand deposits
8,453
9,636
(1,183)
(12.3)
Savings and Money Market Deposits
68,861
66,826
2,035
3.0
Time Deposits - Retail
12,007
39,806
(27,799)
(69.8)
Total Interest Expense on Deposits
89,321
116,268
(26,947)
(23.2)
FHLB Advances and other borrowings
1,882
2,242
(360)
(16.1)
Interest on other borrowings
13,480
-
13,480
-
Total Interest Expense
104,683
118,510
(13,827)
(11.7)
Net Interest Income
3,704,543
3,890,405
(185,862)
(4.8)
Provision for loan losses
-
307,072
(307,072)
(100.0)
Net In. Inc. After Prov. for Loan Losses
3,704,543
3,583,333
121,210
3.4
Non Interest Income
Service charges and fees
49,993
41,604
8,389
20.2
Other noninterest income
305,380
311,558
(6,178)
(2.0)
Total Non Interest Income
355,373
353,162
2,211
0.6
Non Interest Expense
Salaries and employee benefits
1,450,366
1,110,410
339,956
30.6
Occupancy
198,211
196,567
1,645
0.8
Other noninterest expense
759,373
605,079
154,294
25.5
Total Non Interest Expense
2,407,950
1,912,056
495,894
25.9
Income Before Taxes
1,651,966
2,024,439
(372,474)
(18.4)
Income taxes
483,000
598,000
(115,000)
(19.2)
Net Income
1,168,966
1,426,439
(257,474)
(18.1)
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Disclaimer
Golden Valley Bank published this content on 15 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2022 23:31:08 UTC.
Golden Valley Bank (the Bank) provides products and services to customers who are predominately small to middle-market businesses, professionals, and not-for-profit organizations located in Butte, Shasta, and surrounding counties. The Bank offers checking and savings, certificates of deposit (CDs) and individual retirement accounts (IRAs), debit cards, and an education center. Its business solutions include ACH & Wire, eDeposit, Positive Pay, and Merchant Services. The Bankâs account services include online banking, mobile banking, bill pay and CardValet and Zelle. The Bankâs business lending services include commercial loans, SBA loans and credit cards. The Bankâs personal lending services include home loans and credit cards.
GOLDEN VALLEY BANCSHARES, INC. 