hD

Income Statement Summary

Cambridge Bancorp (CATC) annual income statement covering fiscal 2017 through 2022, as reported to the SEC.

  • Net income was $52.91M in fiscal 2022, down 2.1% from $54.02M.
  • Diluted earnings per share was $7.30, down 5.1% from $7.69.
  • Income before income taxes were $71.96M, down 1.6% from $73.11M.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data
Dec'22Dec'21Dec'20Dec'19Dec'18Dec'17
Interest and dividend income
Interest on taxable loans

135,965

120,019

119,447

84,382

57,941

51,238

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest on taxable loans

135,965

120,019

119,447

84,382

57,941

51,238

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest on tax-exempt loans

1,447

1,205

880

584

371

496

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest on tax-exempt loans

1,447

1,205

880

584

371

496

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest on taxable investment securities

19,555

9,464

6,048

7,963

7,457

6,321

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest on taxable investment securities

19,555

9,464

6,048

7,963

7,457

6,321

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest on tax-exempt investment securities

2,477

2,630

2,485

2,289

2,404

2,600

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest on tax-exempt investment securities

2,477

2,630

2,485

2,289

2,404

2,600

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Dividends on FHLB of Boston stock

287

46

331

390

287

245

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Dividends on FHLB of Boston stock

287

46

331

390

287

245

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest on overnight investments

262

150

187

731

595

291

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest on overnight investments

262

150

187

731

595

291

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest on overnight investments

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest on overnight investments

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total interest and dividend income

159,993

133,514

129,378

96,339

69,055

61,191

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total interest and dividend income

159,993

133,514

129,378

96,339

69,055

61,191

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense
Interest on deposits

14,598

4,974

7,295

15,641

5,023

3,125

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest on deposits

14,598

4,974

7,295

15,641

5,023

3,125

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest on borrowed funds

2,180

559

1,406

2,002

444

462

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest on borrowed funds

2,180

559

1,406

2,002

444

462

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest on subordinated debt

-

-

444

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest on subordinated debt

-

-

444

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total interest expense

16,778

5,533

9,145

17,643

5,467

3,587

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total interest expense

16,778

5,533

9,145

17,643

5,467

3,587

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net interest and dividend income

143,215

127,981

120,233

78,696

63,588

57,604

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net interest and dividend income

143,215

127,981

120,233

78,696

63,588

57,604

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for credit losses

3,881

-1,294

18,310

3,004

1,502

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for credit losses

3,881

-1,294

18,310

3,004

1,502

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for Loan Losses

-

-

-

-

-

362

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for Loan Losses

-

-

-

-

-

362

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net interest and dividend income after provision for credit losses

139,334

129,275

101,923

75,692

62,086

57,242

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net interest and dividend income after provision for credit losses

139,334

129,275

101,923

75,692

62,086

57,242

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Noninterest income
Wealth management revenue

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Wealth management revenue

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deposit account fees

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deposit account fees

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

ATM/Debit card income

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

ATM/Debit card income

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Bank owned life insurance income

1,808

801

747

612

526

584

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Bank owned life insurance income

1,808

801

747

612

526

584

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain (loss) on disposition of investment securities

-

-

69

-79

2

-3

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain (loss) on disposition of investment securities

-

-

69

-79

2

-3

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

(Loss) gain on disposition of investment securities

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

(Loss) gain on disposition of investment securities

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on loans sold, net

98

832

1,850

1,170

99

355

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on loans sold, net

98

832

1,850

1,170

99

355

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loan related derivative income

625

2,124

1,479

1,674

1,651

780

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loan related derivative income

625

2,124

1,479

1,674

1,651

780

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other income

2,868

2,024

1,726

1,927

1,269

1,155

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other income

2,868

2,024

1,726

1,927

1,269

1,155

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total noninterest income

43,009

44,324

39,525

36,401

32,989

30,224

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total noninterest income

43,009

44,324

39,525

36,401

32,989

30,224

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Noninterest expense
Salaries and employee benefits

70,109

65,127

58,975

47,494

41,212

36,455

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Salaries and employee benefits

70,109

65,127

58,975

47,494

41,212

36,455

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Occupancy and equipment

14,364

13,898

13,004

10,855

9,072

9,114

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Occupancy and equipment

14,364

13,898

13,004

10,855

9,072

9,114

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Occupancy and equipment

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Occupancy and equipment

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Data processing

10,706

8,829

7,662

6,232

5,177

4,956

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Data processing

10,706

8,829

7,662

6,232

5,177

4,956

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Professional services

4,728

5,391

4,190

3,623

3,258

3,374

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Professional services

4,728

5,391

4,190

3,623

3,258

3,374

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Marketing

2,301

2,536

1,818

1,760

2,229

1,620

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Marketing

2,301

2,536

1,818

1,760

2,229

1,620

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

FDIC insurance

1,845

1,318

992

291

574

629

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

FDIC insurance

1,845

1,318

992

291

574

629

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-operating expenses

-3,059

-1,118

-7,612

-4,721

-201

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-operating expenses

-3,059

-1,118

-7,612

-4,721

-201

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other expenses

3,270

2,267

3,832

3,199

2,264

3,144

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other expenses

3,270

2,267

3,832

3,199

2,264

3,144

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total noninterest expense

110,382

100,484

98,085

78,175

63,987

59,292

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total noninterest expense

110,382

100,484

98,085

78,175

63,987

59,292

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income before income taxes

71,961

73,115

43,363

33,918

31,088

28,174

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income before income taxes

71,961

73,115

43,363

33,918

31,088

28,174

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income tax expense

19,052

19,091

11,404

8,661

7,207

13,358

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income tax expense

19,052

19,091

11,404

8,661

7,207

13,358

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income

52,909

54,024

31,959

25,257

23,881

14,816

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income

52,909

54,024

31,959

25,257

23,881

14,816

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Share data:
Weighted average shares outstanding, basic

7,163

6,926

6,289

4,629

4,062

4,030

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Weighted average shares outstanding, basic

7,163

6,926

6,289

4,629

4,062

4,030

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Weighted average shares outstanding, diluted

7,214

6,991

6,344

4,662

4,099

4,065

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Weighted average shares outstanding, diluted

7,214

6,991

6,344

4,662

4,099

4,065

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic earnings per share

7.35

7.76

5.07

5.41

5.82

3.64

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic earnings per share

7.35

7.76

5.07

5.41

5.82

3.64

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted earnings per share

7.30

7.69

5.03

5.37

5.77

3.61

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted earnings per share

7.30

7.69

5.03

5.37

5.77

3.61

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Wealth Management Revenue
Noninterest income

33,034

35,037

29,751

26,499

25,191

23,029

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Noninterest income

33,034

35,037

29,751

26,499

25,191

23,029

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deposit Account Fees
Noninterest income

2,913

1,939

2,595

3,185

3,071

3,142

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Noninterest income

2,913

1,939

2,595

3,185

3,071

3,142

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

ATM/Debit Card Income
Noninterest income

1,663

1,567

1,308

1,413

1,180

1,182

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Noninterest income

1,663

1,567

1,308

1,413

1,180

1,182

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx