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Income Statement

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 2013 Y2014 Y2015 Y2016 Y2017 Q2 YTD
Source Document12/31/201412/31/201512/31/201612/31/20166/30/2017
(in thousands)     
Interest and Dividend Income 
Loans 13,15014,40915,37216,4358,216
Investment securities and other 252198244384262
Total interest and dividend income 13,40214,60715,61616,8198,478
Interest Expense 
Deposits 8321,1061,4512,0331,103
Borrowings 2,3582,0382,0001,850826
Total interest expense 3,1903,1443,4513,8831,929
Net Interest Income 10,21211,46312,16512,9366,549
Credit for Loan Losses 8301,020800(760)(2,050)
Net Interest Income After Provision for Loan Losses 9,38210,44311,36513,6968,599
Noninterest Income 
Service charges and fees 228239297260129
Net gain on loan sales 1,52558566046983
Net gain on sale of real estate owned 3(37)(116)321
Gain on the sale of premises and equipment 0747NANANA
Other 219148382296254
Total noninterest income 1,9751,6821,2231,057467
Noninterest Expense 
Salaries and employee benefits 5,4474,6374,5414,9532,500
Net occupancy and equipment expense 876883811818385
Information technology expense 230238236240116
Federal deposit insurance corporation premiums (recovery) 2192062172146
Professional and services fees 4424913985841,024
Other real estate owned expense (recovery) 81855025(2)
Loan legal expense 14059322(74)80
Advertising expense 26817314412658
Michigan business tax 18618118619590
Other 1,1051,063953915565
Total noninterest expense 8,9948,0167,8587,9964,822
Income Before Income Tax 2,3634,1094,7306,7574,244
Provision for Income Taxes 8041,4261,5442,4041,636
Net Income and Comprehensive Income 1,5592,6833,1864,3532,608
Earnings Per Share 
Basic 0.691.281.572.21.32
Diluted 0.691.271.552.161.28

Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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