Republic first bancorp inc (FRBK)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Interest income:
Interest and fees on taxable loans

72,808

62,502

48,993

-

-

-

-

-

-

-

-

Interest and fees on tax-exempt loans

1,689

1,543

1,101

-

-

-

-

-

-

-

-

Interest and fees on taxable loans

-

-

-

40,827

37,241

34,530

31,986

32,326

32,954

34,293

38,943

Interest and fees on tax-exempt loans

-

-

-

960

540

339

349

265

301

0

-

Interest and dividends on taxable investment securities

27,459

26,677

19,643

11,264

6,792

5,053

4,435

4,899

4,416

5,490

3,974

Interest and dividends on tax-exempt investment securities

337

505

535

703

585

364

250

470

457

446

435

Interest on federal funds sold and other interest-earning assets

2,571

847

577

473

278

187

185

300

145

80

118

Total interest income

104,864

92,074

70,849

54,227

45,436

40,473

37,205

38,260

38,273

40,309

43,470

Interest expense:
Demand-interest bearing

15,621

7,946

3,020

2,088

1,401

888

825

796

590

427

310

Money market and savings

6,796

4,898

3,160

2,639

2,170

1,929

1,786

2,718

3,457

3,689

5,258

Time deposits

3,850

1,588

1,238

942

695

719

867

1,718

3,017

4,621

8,374

Other borrowings

790

1,738

1,366

1,194

1,115

1,108

1,112

1,134

1,135

1,508

2,113

Total interest expense

27,057

16,170

8,784

6,863

5,381

4,644

4,590

6,366

8,199

10,245

16,055

Net interest income

77,807

75,904

62,065

47,364

40,055

35,829

32,615

31,894

30,074

30,064

27,415

Provision for loan losses

1,905

2,300

900

1,557

500

900

4,935

1,350

15,966

16,600

14,200

Net interest income after provision for loan losses

75,902

73,604

61,165

45,807

39,555

34,929

27,680

30,544

14,108

-

-

Non-interest income:
Non-interest income

7,755

5,650

4,081

2,993

-

-

-

-

-

-

-

Net interest income after provision for loan losses

-

-

-

-

-

-

-

-

-

13,464

13,215

Loan and servicing fees

-

-

-

-

2,226

1,452

1,615

1,251

480

403

459

Mortgage banking income

-

-

-

-

0

0

-

-

-

-

-

Gain on sales of SBA loans

3,187

3,105

3,378

4,981

3,139

4,717

5,338

5,531

5,263

0

-

Service fees on deposit accounts

-

-

-

-

1,720

1,224

1,046

922

768

1,018

1,219

Legal settlements

-

-

-

-

2,550

-

-

-

-

-

-

Legal settlements

-

-

-

-

-

0

238

155

2,780

-

-

Gain on sale of investment securities

1,103

-67

-146

656

108

458

703

737

-

-

-

Gain on sale of investment securities

-

-

-

-

-

-

-

-

640

-

-

Legal settlements

-

-

-

-

-

-

-

-

-

0

-

Gain on sale of investment securities

-

-

-

-

-

-

-

-

-

1,254

-

Other-than-temporary impairment

-

-

-

-

-

-

0

35

49

476

1,006

Portion recognized in other comprehensive income (before taxes)

-

-

-

-

-

-

0

-1

-7

-104

1,067

Net securities impairment losses recognized in earnings

-

-

-

7

3

7

0

34

42

372

2,073

Bank owned life insurance income

-

-

-

-

-

-

13

73

137

182

255

Other non-interest income

214

174

177

335

203

173

263

193

555

135

219

Total non-interest income

23,738

20,322

20,097

15,312

9,943

8,017

9,216

8,828

10,581

2,620

79

Non-interest expenses:
Salaries and employee benefits

53,888

44,082

37,959

28,602

22,488

20,089

17,064

16,512

15,197

12,597

12,699

Occupancy

11,565

8,046

7,156

6,109

4,929

4,247

3,635

3,454

3,336

3,970

3,081

Depreciation and amortization

6,482

5,447

4,618

3,518

3,080

2,382

2,105

2,006

2,107

2,029

1,858

Legal

1,335

985

984

459

915

1,290

1,878

2,966

1,948

1,889

1,245

Write down of other real estate owned

-

-

-

-

-

-

-

-

-

-

1,571

Other real estate owned

2,109

1,588

4,092

2,182

4,239

1,794

3,179

763

7,301

1,999

303

Appraisal and other loan expenses

1,829

1,840

1,878

866

280

-

-

-

-

-

-

Advertising

1,930

1,211

1,279

811

627

597

447

307

334

379

288

Data processing

5,220

3,855

3,134

2,408

1,593

1,345

1,000

1,187

1,163

864

807

Insurance

1,070

996

982

962

720

586

625

654

829

916

711

Professional fees

2,589

2,048

1,893

1,580

1,268

1,468

1,420

1,106

1,600

1,853

2,285

Debit card processing

2,467

1,868

1,264

-

-

-

-

-

-

-

-

Automated teller machine expenses

-

-

-

814

-

-

-

-

-

-

-

Regulatory assessments and costs

1,228

1,675

1,367

1,413

1,248

1,065

1,257

1,367

1,913

2,128

2,314

Taxes, other

837

796

817

366

689

616

557

594

862

787

892

Legal settlements

-

-

-

-

-

-

1,875

-

0

-

-

Other operating expenses

11,941

9,284

7,853

6,203

5,015

5,071

5,369

4,986

4,610

3,437

2,905

Total non-interest expense

104,490

83,721

75,276

56,293

47,091

40,550

40,411

35,902

41,200

32,848

30,959

Income (loss) before provision for income taxes

-4,850

10,205

5,986

4,826

2,407

2,396

-3,515

3,470

-16,511

-

-

Income (loss) before provision (benefit) for income taxes

-

-

-

-

-

-

-

-

-

-16,764

-17,665

Provision (benefit) for income taxes

-1,350

1,578

-2,919

-119

-26

-46

-35

-144

8,191

-6,074

-6,223

Net income (loss)

-3,500

8,627

8,905

4,945

2,433

2,442

-3,480

3,614

-24,702

-10,690

-11,442

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

-0.06

0.15

0.16

0.13

0.06

0.07

-0.13

0.14

-0.95

-0.57

-1.07

Diluted (in dollars per share)

-0.06

0.15

0.15

0.12

0.06

0.07

-0.13

0.14

-0.95

-0.57

-1.07

Loan and Servicing Fees [Member]
Non-interest income

1,568

1,401

1,614

1,627

-

-

-

-

-

-

-

Mortgage Banking [Member]
Non-interest income

10,125

10,233

11,170

5,062

-

-

-

-

-

-

-

Deposit Account [Member]
Non-interest income

7,541

5,476

3,904

2,658

-

-

-

-

-

-

-