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Income Statement

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 2013 Y2014 Y2015 Y2016 Y2017 Q1 YTD
Source Document12/31/201412/31/201512/31/201612/31/20163/31/2017
(in thousands)     
Interest and Dividend Income 
Loans 13,15014,40915,37216,4354,006
Investment securities and other 252198244384136
Total interest and dividend income 13,40214,60715,61616,8194,142
Interest Expense 
Deposits 8321,1061,4512,033555
Borrowings 2,3582,0382,0001,850435
Total interest expense 3,1903,1443,4513,883990
Net Interest Income 10,21211,46312,16512,9363,152
Provision (Credit) for Loan Losses 8301,020800(760)(600)
Net Interest Income After Provision for Loan Losses 9,38210,44311,36513,6963,752
Noninterest Income 
Service charges and fees 22823929726069
Net gain on loan sales 1,52558566046932
Net gain on sale of real estate owned 3(37)(116)321
Gain on the sale of premises and equipment 0747NANANA
Other 21914838229668
Total noninterest income 1,9751,6821,2231,057170
Noninterest Expense 
Salaries and employee benefits 5,4474,6374,5414,9531,074
Net occupancy and equipment expense 876883811818191
Information technology expense 23023823624057
Federal deposit insurance corporation premiums 21920621721430
Professional and services fees 442491398584198
Other real estate owned expense (recovery) 81855025(3)
Loan legal expense 14059322(74)16
Advertising expense 26817314412631
Michigan business tax 18618118619545
Other 1,1051,063953915247
Total noninterest expense 8,9948,0167,8587,9961,886
Income Before Income Tax 2,3634,1094,7306,7572,036
Provision for Income Taxes 8041,4261,5442,404704
Net Income and Comprehensive Income 1,5592,6833,1864,3531,332
Earnings Per Share 
Basic 0.691.281.572.20.67
Diluted 0.691.271.552.160.66

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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