Golden Valley Bancshares : Income Statement YOY 12-31-2021
January 20, 2022 at 07:52 pm EST
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Income Statement Compare
Consolidated (Unaudited)
YTD
YTD
Actual
Actual
Dec 2021
Dec 2020
$ Change
% Change
Interest Income
Interest on Loans
10,537,050
10,357,182
179,868
1.7
Fees on Loans
2,260,713
1,333,039
927,674
69.6
Interest on federal funds sold
45,881
14,722
31,159
211.7
Interest on deposits with banks
294,310
580,709
(286,399)
(49.3)
Investment Securities - Taxable
2,196,309
2,247,558
(51,249)
(2.3)
Investment Securities - Tax-exempt
103,905
52,871
51,035
96.5
Total Interest Income
15,438,168
14,586,081
852,087
5.8
Interest Expense
Interest bearing demand deposits
43,141
68,414
(25,273)
(36.9)
Savings and Money Market Deposits
297,319
426,909
(129,590)
(30.4)
Time Deposits - Retail
116,522
260,171
(143,649)
(55.2)
Total Interest Expense on Deposits
456,983
755,494
(298,511)
(39.5)
FHLB Advances and other borrowings
11,109
161,346
(150,237)
(93.1)
Total Interest Expense
468,091
916,839
(448,748)
(48.9)
Net Interest Income
14,970,077
13,669,241
1,300,836
9.5
Provision for loan losses
583,168
1,583,780
(1,000,612)
(63.2)
Net In. Inc. After Prov. for Loan Losses
14,386,909
12,085,461
2,301,448
19.0
Non Interest Income
Service charges and fees
186,208
161,029
25,179
15.6
Securities gains (losses), net
-
773,421
(773,421)
(100.0)
Other noninterest income
1,208,128
914,424
293,704
32.1
Total Non Interest Income
1,394,336
1,848,874
(454,539)
(24.6)
Non Interest Expense
Salaries and employee benefits
4,798,414
4,711,196
87,218
1.9
Occupancy
826,395
804,348
22,047
2.7
Other noninterest expense
2,822,115
2,585,633
236,482
9.1
Total Non Interest Expense
8,446,925
8,101,178
345,747
4.3
Income Before Taxes
7,334,320
5,833,157
1,501,162
25.7
Income taxes
2,175,000
1,740,000
435,000
25.0
Net Income
5,159,320
4,093,157
1,066,162
26.0
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Disclaimer
Golden Valley Bank published this content on 21 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 January 2022 00:51:04 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. 