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Income Statement

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 2013 Y2014 Y2015 Y2016 Y
Source Document12/31/201412/31/201512/31/201612/31/2016
(in thousands)    
Interest and Dividend Income 
Loans 13,15014,40915,37216,435
Investment securities and other 252198244384
Total interest and dividend income 13,40214,60715,61616,819
Interest Expense 
Deposits 8321,1061,4512,033
Borrowings 2,3582,0382,0001,850
Total interest expense 3,1903,1443,4513,883
Net Interest Income 10,21211,46312,16512,936
Provision (Credit) for Loan Losses 8301,020800(760)
Net Interest Income After Provision for Loan Losses 9,38210,44311,36513,696
Noninterest Income 
Service charges and fees 228239297260
Net gain on loan sales 1,525585660469
Net gain (loss) on sale of real estate owned 3(37)(116)32
Gain on the sale of premises and equipment 0747NANA
Other 219148382296
Total noninterest income 1,9751,6821,2231,057
Noninterest Expense 
Salaries and employee benefits 5,4474,6374,5414,953
Net occupancy and equipment expense 876883811818
Information technology expense 230238236240
Federal deposit insurance corporation premiums 219206217214
Professional and services fees 442491398584
Other real estate owned expense 81855025
Loan legal expense (recovery) 14059322(74)
Advertising expense 268173144126
Michigan business tax 186181186195
Other 1,1051,063953915
Total noninterest expense 8,9948,0167,8587,996
Income Before Income Tax 2,3634,1094,7306,757
Provision for Income Taxes 8041,4261,5442,404
Net Income and Comprehensive Income 1,5592,6833,1864,353
Earnings Per Share 
Basic 0.691.281.572.2
Diluted 0.691.271.552.16

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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