Golden Valley Bancshares : Income Statement QOQ 9-30-2021

Income Statement Compare

Consolidated (Unaudited)

	QTD	QTD
	Actual	Actual
	Sep 2021	Sep 2020	$ Change	% Change
Interest Income
Interest on Loans	2,584,908	2,650,360	(65,453)	(2.5)
Fees on Loans	639,045	320,381	318,665	99.5
Interest on federal funds sold	20,134	433	19,701	4,551.8
Interest on deposits with banks	69,095	132,394	(63,299)	(47.8)
Investment Securities - Taxable	552,868	473,473	79,395	16.8
Investment Securities - Tax-exempt	24,094	11,299	12,795	113.2
Total Interest Income	3,890,144	3,588,340	301,805	8.4
Interest Expense
Interest bearing demand deposits	11,545	15,347	(3,801)	(24.8)
Savings and Money Market Deposits	81,991	96,672	(14,681)	(15.2)
Time Deposits - Retail	26,115	54,987	(28,872)	(52.5)
Total Interest Expense on Deposits	119,651	167,005	(47,354)	(28.4)
FHLB Advances and other borrowings	2,602	11,066	(8,463)	(76.5)
Total Interest Expense	122,253	178,071	(55,818)	(31.3)
Net Interest Income	3,767,891	3,410,269	357,622	10.5
Provision for loan losses	69,024	232,089	(163,065)	(70.3)
Net In. Inc. After Prov. for Loan Losses	3,698,867	3,178,180	520,687	16.4
Non Interest Income
Service charges and fees	48,871	39,230	9,641	24.6
Other noninterest income	344,081	207,533	136,548	65.8
Total Non Interest Income	392,952	246,762	146,189	59.2
Non Interest Expense
Salaries and employee benefits	1,230,620	1,200,378	30,242	2.5
Occupancy	215,934	207,752	8,182	3.9
Other noninterest expense	740,396	625,738	114,658	18.3
Total Non Interest Expense	2,186,949	2,033,868	153,081	7.5
Income Before Taxes	1,904,870	1,391,074	513,795	36.9
Income taxes	577,000	412,000	165,000	40.0
Net Income	1,327,870	979,074	348,795	35.6