Golden Valley Bancshares : Income Statement YTD 6-30-2022
August 15, 2022 at 07:32 pm EDT
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Income Statement Compare
Consolidated (Unaudited)
YTD
YTD
Actual
Actual
Jun 2022
Jun 2021
$ Change
% Change
Interest Income
Interest on Loans
5,407,539
5,260,396
147,143
2.8
Fees on Loans
426,727
1,337,217
(910,490)
(68.1)
Interest on federal funds sold
71,052
8,981
62,070
691.1
Interest on deposits with banks
82,118
154,520
(72,402)
(46.9)
Investment Securities - Taxable
1,737,481
1,005,339
732,142
72.8
Investment Securities - Tax-exempt
95,509
39,741
55,768
140.3
Total Interest Income
7,820,426
7,806,195
14,231
0.2
Interest Expense
Interest bearing demand deposits
17,062
20,866
(3,804)
(18.2)
Savings and Money Market Deposits
131,176
137,172
(5,996)
(4.4)
Time Deposits - Retail
23,797
72,174
(48,377)
(67.0)
Total Interest Expense on Deposits
172,035
230,212
(58,177)
(25.3)
FHLB Advances and other borrowings
4,162
6,262
(2,099)
(33.5)
Interest on other borrowings
88,355
-
88,355
-
Total Interest Expense
264,552
236,473
28,079
11.9
Net Interest Income
7,555,874
7,569,722
(13,848)
(0.2)
Provision for loan losses
-
514,144
(514,144)
(100.0)
Net In. Inc. After Prov. for Loan Losses
7,555,874
7,055,578
500,296
7.1
Non Interest Income
Service charges and fees
106,718
85,541
21,176
24.8
Other noninterest income
486,371
622,003
(135,632)
(21.8)
Total Non Interest Income
593,089
707,545
(114,456)
(16.2)
Non Interest Expense
Salaries and employee benefits
2,942,361
2,202,375
739,987
33.6
Occupancy
399,677
397,311
2,365
0.6
Other noninterest expense
1,667,195
1,239,742
427,452
34.5
Total Non Interest Expense
5,009,233
3,839,428
1,169,804
30.5
Income Before Taxes
3,139,730
3,923,694
(783,964)
(20.0)
Income taxes
917,000
1,180,000
(263,000)
(22.3)
Net Income
2,222,730
2,743,694
(520,964)
(19.0)
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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. 
