NORTHEAST BANCORP /ME/ NBN Income Statement

Northeast bancorp /me/ (NBN)

Income statement / Quarterly

Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Interest and dividend income:
Interest and fees on loans
18,796	18,934	17,525	16,854	15,408	14,501	15,383	15,724	14,417	13,913	11,803	12,436	10,904	11,719	10,790	10,894	10,619	10,948	10,922	9,867	8,403	10,282	8,457	9,808	9,601	8,267	7,341	7,853	5,870	5,874	5,137	5,895	5,649
Interest on available-for-sale securities
444	425	362	298	280	267	266	271	261	247	239	230	236	236	228	215	222	232	244	251	253	262	282	209	234	348	347	-	422	541	-	732	910
Interest on available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	639	-	-
Dividends on regulatory stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12	16	12
Other interest and dividend income
939	970	880	820	795	492	529	377	282	172	215	162	119	80	95	75	72	79	66	105	61	96	52	105	85	109	89	97	60	57	47	57	33
Total interest and dividend income
20,179	20,329	18,767	17,972	16,483	15,260	16,178	16,372	14,960	14,332	12,257	12,828	11,259	12,035	11,113	11,184	10,913	11,259	11,232	10,223	8,717	10,640	8,791	10,122	9,920	8,724	7,777	8,355	6,352	6,472	5,835	6,700	6,604
Interest expense:
Deposits
4,447	3,982	3,682	2,896	2,696	2,129	2,176	1,950	1,855	1,798	1,754	1,671	1,566	1,425	1,365	1,328	1,271	1,281	1,130	1,075	1,022	979	1,047	1,008	1,084	1,028	978	878	875	836	837	891	774
Federal Home Loan Bank advances
116	125	118	109	118	148	172	166	159	220	255	253	255	259	260	256	257	265	323	327	324	327	323	217	232	259	259	256	256	258	258	251	284
Wholesale repurchase agreements
-	-	-	-	-	-	-	-	-	-	-	0	0	0	67	71	71	73	73	71	93	98	95	136	135	161	219	247	247	249	248	263	249
Short-term borrowings
-	-	-	-	-	-	-	-	-	-	-	1	5	5	9	8	5	7	9	7	6	6	5	4	4	5	6	6	7	3	5	16	60
Subordinated debt
578	573	601	552	525	517	508	486	475	468	459	175	164	158	154	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Junior subordinated debentures issued to affiliated trusts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	171	188	206	241	140	192	192	195	190	191	193	195	188	185	183	191	174
Obligation under capital lease agreements
5	6	7	8	10	9	11	12	12	13	14	15	15	16	17	17	18	19	20	20	20	21	22	23	22	23	24	24	25	25	26	28	26
Total interest expense
5,146	4,686	4,408	3,565	3,349	2,803	2,867	2,614	2,501	2,499	2,482	2,115	2,005	1,863	1,872	1,833	1,793	1,833	1,761	1,741	1,605	1,623	1,684	1,583	1,667	1,667	1,679	1,606	1,598	1,556	1,557	1,640	1,567
Net interest and dividend income before provision for loan losses
15,033	15,643	14,359	14,407	13,134	12,457	13,311	13,758	12,459	11,833	9,775	10,713	9,254	10,172	9,241	9,351	9,120	9,426	9,471	8,482	7,112	9,017	7,107	8,539	8,253	7,057	6,098	6,749	4,754	4,916	4,278	5,060	5,037
Provision for loan losses
414	101	532	255	364	437	354	389	384	628	193	317	236	896	169	240	44	113	320	123	180	151	77	301	346	247	228	312	100	134	400	658	49
Net interest and dividend income after provision for loan losses
14,619	15,542	13,827	14,152	12,770	12,020	12,957	13,369	12,075	11,205	9,582	10,396	9,018	9,276	9,072	9,111	9,076	9,313	9,151	8,359	6,932	8,866	7,030	8,238	7,907	6,810	5,870	6,437	4,654	4,782	3,878	4,402	4,988
Noninterest income:
Fees for other services to customers
408	340	492	386	435	475	526	-	516	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sales of SBA loans
568	942	851	1,035	560	341	1,019	1,849	951	1,734	743	1,619	1,205	679	675	1,871	425	445	80	404	373	13	216	-	1,228	998	-	-	219	203	-	-	-
Fees for other services to customers
-	-	-	-	-	-	-	-	-	481	408	-	428	428	408	405	303	392	394	399	385	421	439	446	430	462	310	347	326	370	340	360	310
Net securities gains (losses)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-53	1,153	47
Gain on sales of residential loans held for sale
108	104	174	158	227	255	291	292	281	337	542	391	335	398	560	-	355	447	-	-	-	-	-	-	-	-	-	-	-	-	656	-	-
Gain on sales of other loans
582	-	-	-	516	21	-	-	365	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net unrealized gain on equity securities
65	50	-40	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (loss) on real estate owned, other repossessed collateral and premises and equipment, net
0	-24	-40	-138	4	11	0	-32	20	3	-14	-128	-54	-14	-59	-	357	-31	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net securities gains
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	792	-	731	433	-	-	-
Gain on sales of loans held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	584	505	265	341	539	714	625	914	756	-	634	770	-	-	-
Gain on sales of portfolio loans
568	942	851	1,035	560	341	1,019	1,849	951	1,734	743	-	-	-	-	1,871	425	445	80	404	373	13	216	-	1,228	998	-	-	219	203	-	-	-
Gain recognized on real estate owned and other repossessed collateral, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	165	-77	-	-	230	-	-	-	-	-	-	-	-
Loss recognized on real estate owned and other repossessed collateral, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-23	-	-	-	-38	-	-	-	-	-	-	-	-	-	-
(Loss) gain recognized on real estate owned and other repossessed collateral, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	451	-	-24	73	-	-	-
Gain (loss) recognized on repossessed collateral, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-77	-	-
Investment commissions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	675	671	720	704	687	726	709
Bank-owned life insurance income
108	110	110	110	108	111	112	113	113	114	114	113	112	112	112	111	110	110	109	109	108	116	118	119	118	358	123	124	124	126	127	132	126
Bargain purchase gain
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,145	296
Other noninterest income
27	23	7	28	32	14	10	121	62	21	15	21	9	21	9	8	4	7	10	8	12	21	14	14	12	13	43	-3	18	13	44	204	144
Total noninterest income
1,866	1,545	1,554	1,960	1,882	1,228	1,958	2,890	2,308	2,690	1,808	2,409	2,035	1,624	1,705	3,011	1,554	1,370	1,154	1,438	1,308	835	1,288	768	2,643	2,745	3,150	2,512	2,748	2,692	1,724	18,255	1,927
Noninterest expense:
Salaries and employee benefits
5,782	5,699	5,509	5,809	5,329	5,173	5,254	6,028	5,203	5,161	5,314	5,592	4,846	4,854	4,256	5,231	4,316	4,737	4,533	5,162	3,759	4,253	4,612	4,449	4,687	3,843	4,057	4,095	4,093	3,729	3,717	3,723	3,958
Occupancy and equipment expense
957	957	1,127	1,167	1,159	1,150	1,109	1,222	1,299	1,252	1,229	1,290	1,327	1,320	1,290	1,278	1,278	1,181	1,202	1,360	1,450	1,311	1,327	1,226	1,218	1,104	1,078	1,091	970	916	849	854	773
Professional fees
483	656	534	459	423	425	442	401	370	399	496	421	348	264	430	506	386	458	308	262	366	281	376	240	388	399	423	477	539	277	415	445	374
Data processing fees
827	830	601	600	619	624	604	458	455	410	421	378	394	366	349	302	361	347	345	398	257	277	277	245	239	220	268	265	260	289	274	269	274
Marketing expense
160	130	124	143	172	70	87	119	89	97	87	85	64	66	70	41	54	80	69	86	86	103	36	352	249	247	187	222	142	254	73	294	216
Loan acquisition and collection expense
609	585	439	357	264	368	365	232	728	547	227	401	297	219	451	362	409	413	274	336	440	290	473	-	352	-	-	-	-	-	-	-	-
Loan acquisition and collection expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	479	454	-	244	288	-	-	-
FDIC insurance premiums
81	81	81	80	77	80	80	79	78	22	124	134	125	116	114	133	137	110	124	126	127	117	110	90	125	122	117	118	125	122	117	99	170
Intangible asset amortization
107	109	109	108	107	109	109	107	107	109	109	107	108	131	131	-	128	166	-	-	-	-	-	-	-	-	-	-	262	337	336	357	306
Intangible asset amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	166	164	162	210	210	208	205	265	265	-	-	-	-	-	-
Legal settlement recovery
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-250	-	-	-	-	-	-	-	-	-	-
Merger expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,057	132
Other noninterest expense
746	856	831	755	825	564	664	719	513	959	619	986	903	860	719	790	816	718	716	901	869	772	681	637	665	738	653	416	598	665	818	954	893
Total noninterest expense
9,752	9,903	9,355	9,478	8,975	8,563	8,714	9,365	8,842	8,956	8,626	9,394	8,412	8,196	7,810	8,772	7,885	8,210	7,737	8,795	7,516	7,614	7,852	8,908	8,128	7,417	7,502	7,521	7,233	6,877	6,599	10,052	7,096
Income before income tax expense
6,733	7,184	6,026	6,634	5,677	4,685	6,201	6,894	5,541	4,939	2,764	3,411	2,641	2,704	2,967	3,350	2,745	2,473	2,568	1,002	724	2,087	466	98	2,422	2,138	1,518	-	169	597	-	-	-
Income (loss) from continuing operations before income tax expense (benefit)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-997	-	-181
Income tax expense
1,905	2,059	1,492	2,290	1,745	1,381	1,615	2,867	2,080	1,839	1,013	1,212	832	960	1,100	1,185	993	893	924	460	287	676	156	-71	792	676	484	390	15	179	-403	134	-217
Net income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,644	542	437	1,411	310	-	1,630	1,462	-	-	154	418	-	-	36
Loss from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-27	15	-	55	84	-	-	-	-	-	-	-
Net income (loss) from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-594	-	-
Income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	186	-116	184
Gain on sale of discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15	22	0	1,529	0	0
Income tax benefit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-9	5	-	19	29	-	5	8	0	592	-41	64
Net loss from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-18	10	-	36	55	-	-	14	0	-	-	-
Net income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,123	-75	120
Net income
4,828	5,125	4,534	4,344	3,932	3,304	4,586	4,027	3,461	3,100	1,751	2,199	1,809	1,744	1,867	2,165	1,752	1,580	1,644	542	437	1,393	320	203	1,666	1,517	1,034	1,048	168	418	529	12,396	156
Weighted-average shares outstanding:
Net income available to common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,644	-	-	-	320	204	1,666	1,259	936	950	70	320	431	12,297	58
Basic (in shares)
9,044	9,048	8,995	8,933	8,927	8,924	8,841	8,825	8,830	8,831	9,106	9,321	9,456	9,559	9,562	9,777	9,833	10,132	10,180	10,313	10,432	10,432	10,440	10,445	10,425	10,383	10,383	6,627	3,494	3,494	3,494	3,493	3,492
Diluted (in shares)
9,198	9,201	9,183	8,958	9,143	9,168	9,089	8,918	8,893	8,864	9,133	9,346	9,459	9,569	9,562	9,777	9,833	10,132	10,180	10,313	10,432	10,432	10,440	10,445	10,425	10,383	10,383	6,627	3,512	3,511	3,513	3,536	3,559
Earnings per common share:
Income from continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.16	0.06	0.04	0.13	0.03	-	0.16	0.11	-	0.17	0.02	0.09	-0.13	3.52	-0.01
Income from discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	-	-	-	0.00	-	0.00	0.01	-	0.01	0.00	0.00	0.25	-0.02	0.03
Basic (in dollars per share)
0.53	0.57	0.50	0.48	0.44	0.37	0.52	0.46	0.39	0.35	0.19	0.23	0.19	0.18	0.20	0.22	0.18	0.16	0.16	0.06	0.04	0.13	0.03	0.02	0.16	0.12	0.09	0.18	0.02	0.09	0.12	3.50	0.02
Income from continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.16	0.06	0.04	0.13	0.03	-	0.16	0.11	-	0.17	0.02	0.09	-0.13	3.47	-0.01
Income from discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	-	-	-	0.00	-	0.00	0.01	-	0.01	0.00	0.00	0.25	-0.02	0.03
Diluted (in dollars per share)
0.52	0.56	0.49	0.48	0.43	0.36	0.50	0.45	0.39	0.35	0.19	0.23	0.19	0.18	0.20	0.22	0.18	0.16	0.16	0.06	0.04	0.13	0.03	0.02	0.16	0.12	0.09	0.18	0.02	0.09	0.12	3.45	0.02
Cash dividends declared per common share (in dollars per share)
0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	-	-