Golden Valley Bancshares : Income Statement QOQ 6-30-2022
August 15, 2022 at 07:32 pm EDT
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Income Statement Compare
Consolidated (Unaudited)
QTD
QTD
Actual
Actual
Jun 2022
Jun 2021
$ Change
% Change
Interest Income
Interest on Loans
2,726,920
2,644,077
82,843
3.1
Fees on Loans
197,728
529,355
(331,627)
(62.6)
Interest on federal funds sold
57,253
4,871
52,382
1075.4
Interest on deposits with banks
37,475
71,481
(34,006)
(47.6)
Investment Securities - Taxable
944,119
526,917
417,202
79.2
Investment Securities - Tax-exempt
47,704
20,578
27,126
131.8
Total Interest Income
4,011,200
3,797,280
213,919
5.6
Interest Expense
Interest bearing demand deposits
8,609
11,230
(2,621)
(23.3)
Savings and Money Market Deposits
62,315
70,346
(8,031)
(11.4)
Time Deposits - Retail
11,790
32,368
(20,578)
(63.6)
Total Interest Expense on Deposits
82,714
113,944
(31,230)
(27.4)
FHLB Advances and other borrowings
2,280
4,020
(1,739)
(43.3)
Interest on other borrowings
74,875
-
74,875
-
Total Interest Expense
159,869
117,963
41,906
35.5
Net Interest Income
3,851,331
3,679,317
172,014
4.7
Provision for loan losses
-
207,072
(207,072)
(100.0)
Net In. Inc. After Prov. for Loan Losses
3,851,331
3,472,245
379,086
10.9
Non Interest Income
Service charges and fees
56,725
43,937
12,788
29.1
Other noninterest income
180,991
310,445
(129,454)
(41.7)
Total Non Interest Income
237,716
354,383
(116,667)
(32.9)
Non Interest Expense
Salaries and employee benefits
1,491,995
1,091,964
400,031
36.6
Occupancy
201,465
200,745
721
0.4
Other noninterest expense
907,822
634,664
273,158
43.0
Total Non Interest Expense
2,601,282
1,927,373
673,910
35.0
Income Before Taxes
1,487,764
1,899,255
(411,491)
(21.7)
Income taxes
434,000
582,000
(148,000)
(25.4)
Net Income
1,053,764
1,317,255
(263,491)
(20.0)
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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. 
