PEOPLES-SIDNEY FINANCIAL CORPORTATION | ||
CONSOLIDATED STATEMENTS OF INCOME | ||
YTD Ended March 31, 2022 | ||
(Unaudited) | ||
3/31/2022 | ||
Interest income | ||
Loans, including fees | $ | 3,204,171 |
Securities | 109,229 | |
Demand, time, and overnight deposits | 38,035 | |
Dividends on Federal Home Loan Bank stock | 28,547 | |
Total interest income | 3,379,982 | |
Interest expense | ||
Deposits | 100,025 | |
Borrowed funds | 30,416 | |
Total interest expense | 130,441 | |
Net interest income | 3,249,542 | |
Provision for loan losses | (87,694) | |
Net interest income after provision for loan losses | 3,337,236 | |
Noninterest income | ||
Service fees and other charges | 116,213 | |
Gain/(loss) on sale of REO and repossessions | - | |
Mortgage banking income | 50,092 | |
Gain (loss) on disposal of fixed assets | - | |
Earnings on company owned life insurance | 106,642 | |
Other noninterest income | 8,849 | |
Total noninterest income | 281,795 | |
Noninterest expense | ||
Compensation, benefits and director fees | 1,503,921 | |
Occupancy and equipment | 193,741 | |
Computer processing | 490,556 | |
Professional services | 119,820 | |
State taxes | 103,178 | |
Federal deposit insurance | 25,466 | |
REO and repossessions expense | - | |
Other noninterest expense | 264,453 | |
Total noninterest expense | 2,701,134 | |
Income before income taxes | 917,896 | |
Income tax expense | 166,900 | |
Net income | $ | 750,996 |
Earnings per common share - basic and diluted | $ | 0.65 |
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Peoples-Sidney Financial Corporation published this content on 13 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 June 2022 18:42:01 UTC.