First choice bancorp (FCBP)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17
INTEREST and DIVIDEND INCOME
Interest and fees on loans

20,780

20,741

23,206

21,344

20,916

20,838

17,296

12,320

10,621

10,839

10,189

9,122

8,474

Interest on investment securities

-

-

208

215

-

-

226

233

239

-

-

-

-

Interest on investment securities

218

194

-

-

236

-

-

-

-

-

231

245

255

Interest on deposits in other financial institutions

501

805

701

454

445

697

621

294

260

-

278

-

-

Dividends on restricted stock investments

245

213

228

206

242

325

46

68

69

62

56

59

89

Other interest income

-

-

-

-

-

-

-

-

-

-

-

208

246

Total interest and dividend income

21,744

21,953

24,343

22,219

21,839

22,084

18,189

12,915

11,189

11,367

10,754

9,634

9,064

INTEREST EXPENSE
Interest on savings, interest checking and money market accounts

1,109

1,222

1,283

1,254

1,239

1,353

1,223

969

819

887

996

1,002

1,026

Interest on time deposits

995

1,200

1,605

1,463

1,005

1,079

1,072

919

616

558

535

389

408

Interest on borrowings

376

176

429

666

230

-96

98

208

202

115

73

50

2

Interest on senior secured notes

91

147

-

-

173

-

-

-

-

-

-

-

-

Total interest expense

2,571

2,745

3,317

3,383

2,647

2,584

2,393

2,096

1,637

1,560

1,604

1,441

1,436

Net interest income

19,173

19,208

21,026

18,836

19,192

19,500

15,796

10,819

9,552

9,807

9,150

8,193

7,628

Provision for loan losses

2,700

1,200

700

550

350

400

600

320

200

-358

1,000

0

0

Net interest income after provision for loan losses

16,473

18,008

20,326

18,286

18,842

19,100

15,196

10,499

9,352

10,165

8,150

8,193

7,628

NONINTEREST INCOME
Gain on sale of loans

377

947

528

1,271

928

639

171

448

247

433

1,075

898

1,190

Service charges and fees on deposit accounts

555

363

521

651

540

476

438

217

224

-

115

-

-

Net servicing fees

224

87

242

287

234

191

39

126

153

-

211

-

-

Service charges and fees on deposit accounts

-

-

-

-

-

-

-

-

-

-

-

64

66

Net servicing fees

-

-

-

-

-

-

-

-

-

-

-

189

171

Other income

259

186

428

200

420

274

122

5

-46

275

45

71

44

Total noninterest income

1,415

1,583

1,673

2,322

2,122

1,542

712

787

569

935

1,433

1,222

1,471

NONINTEREST EXPENSE
Salaries and employee benefits

7,230

6,139

6,472

6,857

6,223

5,530

5,045

3,482

4,020

3,296

3,921

3,698

3,645

Occupancy and equipment

1,063

1,893

1,097

987

1,429

1,050

898

575

526

-

574

-

-

Data processing

807

903

718

639

604

758

666

448

421

406

398

357

330

Occupancy expenses

-

-

-

-

-

-

-

-

-

-

-

316

301

Professional fees

471

396

392

426

419

516

400

378

304

361

413

119

79

Equipment expenses

-

-

-

-

-

-

-

-

-

-

-

173

180

Office, postage and telecommunications

258

252

253

255

272

297

256

193

192

197

202

160

161

Deposit insurance and regulatory assessments

61

47

30

120

195

120

143

86

111

151

97

112

107

Loan related

275

165

244

71

214

156

142

101

84

107

80

19

139

Customer service related

372

568

437

273

477

416

208

101

140

211

144

119

144

Merger, integration and public company registration costs

-

-

0

0

-

858

3,797

356

374

0

0

0

0

Amortization of core deposit intangible

193

258

197

197

196

199

133

0

0

-

0

-

-

Provision for credit losses - off-balance sheet

-

-

-

-

-

-

-

-

-

-

-

142

72

Other expenses

789

663

811

780

671

912

684

605

511

1,445

345

358

349

Total noninterest expense

11,519

11,284

10,651

10,605

10,700

10,812

12,372

6,325

6,683

6,500

6,174

5,573

5,507

Income before taxes

6,369

8,307

11,348

10,003

10,264

9,830

3,536

4,961

3,238

4,600

3,409

3,842

3,592

Income taxes

1,800

2,349

3,277

3,192

3,300

3,144

932

1,500

859

3,645

1,418

1,560

1,466

Net income

4,546

5,958

8,071

6,811

7,008

6,712

2,604

3,435

2,379

955

1,991

2,282

2,126

Net income per share:
Basic (in dollars per share)

0.39

0.51

0.69

0.58

0.60

0.60

0.26

0.47

0.33

0.12

0.28

0.32

0.30

Diluted (in dollars per share)

0.39

0.51

0.68

0.58

0.59

0.59

0.25

0.47

0.33

0.12

0.28

0.32

0.30

Weighted-average common shares outstanding:
Basic (in shares)

11,558

11,530

11,584

11,581

11,654

11,582

10,144

7,172

7,160

7,115

7,111

7,102

7,081

Diluted (in shares)

11,632

11,607

11,659

11,675

11,813

11,801

10,357

7,214

7,200

7,155

7,146

7,137

7,114

Service charges and fees on deposit accounts
Revenue from Contract with Customer, Excluding Assessed Tax

-

-

475

564

-

438

380

208

215

-

-

-

-