NORTHEAST BANCORP /ME/ NBN Income Statement

Northeast bancorp /me/ (NBN)

Income statement / TTM

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
72,109	68,721	64,288	62,146	61,016	60,025	59,437	55,857	52,569	49,056	46,862	45,849	44,307	44,022	43,251	43,383	42,356	40,140	39,474	37,009	36,950	38,148	36,133	35,017	33,062	29,331	26,938	24,734	22,776	22,555	0	0	0
Interest on available-for-sale securities
1,529	1,365	1,207	1,111	1,084	1,065	1,045	1,018	977	952	941	930	915	901	897	913	949	980	1,010	1,048	1,006	987	1,073	1,138	1,351	1,658	0	-	0	0	-	0	0
Interest on available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-
Dividends on regulatory stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Other interest and dividend income
3,609	3,465	2,987	2,636	2,193	1,680	1,360	1,046	831	668	576	456	369	322	321	292	322	311	328	314	314	338	351	388	380	355	303	261	221	194	0	0	0
Total interest and dividend income
77,247	73,551	68,482	65,893	64,293	62,770	61,842	57,921	54,377	50,676	48,379	47,235	45,591	45,245	44,469	44,588	43,627	41,431	40,812	38,371	38,270	39,473	37,557	36,543	34,776	31,208	28,956	27,014	25,359	25,611	0	0	0
Interest expense:
Deposits
15,007	13,256	11,403	9,897	8,951	8,110	7,779	7,357	7,078	6,789	6,416	6,027	5,684	5,389	5,245	5,010	4,757	4,508	4,206	4,123	4,056	4,118	4,167	4,098	3,968	3,759	3,567	3,426	3,439	3,338	0	0	0
Federal Home Loan Bank advances
468	470	493	547	604	645	717	800	887	983	1,022	1,027	1,030	1,032	1,038	1,101	1,172	1,239	1,301	1,301	1,191	1,099	1,031	967	1,006	1,030	1,029	1,028	1,023	1,051	0	0	0
Wholesale repurchase agreements
-	-	-	-	-	-	-	-	-	-	-	67	138	209	282	288	288	310	335	357	422	464	527	651	762	874	962	991	1,007	1,009	0	0	0
Short-term borrowings
-	-	-	-	-	-	-	-	-	-	-	20	27	27	29	29	28	29	28	24	21	19	18	19	21	24	22	21	31	84	0	0	0
Subordinated debt
2,304	2,251	2,195	2,102	2,036	1,986	1,937	1,888	1,577	1,266	956	651	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Junior subordinated debentures issued to affiliated trusts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	806	775	779	765	719	769	768	769	769	767	761	751	747	733	0	0	0
Obligation under capital lease agreements
26	31	34	38	42	44	48	51	54	57	60	63	65	68	71	74	77	79	81	83	86	88	90	92	93	96	98	100	104	105	0	0	0
Total interest expense
17,805	16,008	14,125	12,584	11,633	10,785	10,481	10,096	9,597	9,101	8,465	7,855	7,573	7,361	7,331	7,220	7,128	6,940	6,730	6,653	6,495	6,557	6,601	6,596	6,619	6,550	6,439	6,317	6,351	6,320	0	0	0
Net interest and dividend income before provision for loan losses
59,442	57,543	54,357	53,309	52,660	51,985	51,361	47,825	44,780	41,575	39,914	39,380	38,018	37,884	37,138	37,368	36,499	34,491	34,082	31,718	31,775	32,916	30,956	29,947	28,157	24,658	22,517	20,697	19,008	19,291	0	0	0
Provision for loan losses
1,302	1,252	1,588	1,410	1,544	1,564	1,755	1,594	1,522	1,374	1,642	1,618	1,541	1,349	566	717	600	736	774	531	709	875	971	1,122	1,133	887	774	946	1,292	1,241	0	0	0
Net interest and dividend income after provision for loan losses
58,140	56,291	52,769	51,899	51,116	50,421	49,606	46,231	43,258	40,201	38,272	37,762	36,477	36,535	36,572	36,651	35,899	33,755	33,308	31,187	31,066	32,041	29,985	28,825	27,024	23,771	21,743	19,751	17,716	18,050	0	0	0
Noninterest income:
Fees for other services to customers
1,626	1,653	1,788	1,822	0	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sales of SBA loans
3,396	3,388	2,787	2,955	3,769	4,160	5,553	5,277	5,047	5,301	4,246	4,178	4,430	3,650	3,416	2,821	1,354	1,302	870	1,006	1,830	2,455	0	-	0	0	-	-	0	0	-	-	-
Fees for other services to customers
-	-	-	-	-	-	-	-	-	1,710	1,657	-	1,669	1,544	1,508	1,494	1,488	1,570	1,599	1,644	1,691	1,736	1,777	1,648	1,549	1,445	1,353	1,383	1,396	1,380	0	0	0
Net securities gains (losses)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Gain on sales of residential loans held for sale
544	663	814	931	1,065	1,119	1,201	1,452	1,551	1,605	1,666	1,684	1,648	1,760	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-
Gain on sales of other loans
0	-	-	-	0	0	-	-	0	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net unrealized gain on equity securities
0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (loss) on real estate owned, other repossessed collateral and premises and equipment, net
-202	-198	-163	-123	-17	-1	-9	-23	-119	-193	-210	-255	230	253	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net securities gains
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	792	1,523	1,956	0	-	0	0	-	-	-
Gain on sales of loans held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,695	1,650	1,859	2,219	2,792	3,009	2,929	3,074	0	-	0	0	-	-	-
Gain on sales of portfolio loans
3,396	3,388	2,787	2,955	3,769	4,160	5,553	5,277	0	0	0	-	-	-	-	2,821	1,354	1,302	870	1,006	1,830	2,455	0	-	0	0	-	-	0	0	-	-	-
Gain recognized on real estate owned and other repossessed collateral, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	-	-	-	-	-	-	-	-
Loss recognized on real estate owned and other repossessed collateral, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-
(Loss) gain recognized on real estate owned and other repossessed collateral, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	500	0	-	0	0	-	-	-
Gain (loss) recognized on repossessed collateral, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-
Investment commissions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,770	2,782	2,837	2,826	0	0	0
Bank-owned life insurance income
438	438	439	441	444	449	452	454	454	453	451	449	447	445	443	440	438	436	442	451	461	471	713	718	723	729	497	501	509	511	0	0	0
Bargain purchase gain
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Other noninterest income
85	90	81	84	177	207	214	219	119	66	66	60	47	42	28	29	29	37	51	55	61	61	53	82	65	71	71	72	279	405	0	0	0
Total noninterest income
6,925	6,941	6,624	7,028	7,958	8,384	9,846	9,696	9,215	8,942	7,876	7,773	8,375	7,894	7,640	7,089	5,516	5,270	4,735	4,869	4,199	5,534	7,444	9,306	11,050	11,155	11,102	9,676	25,419	24,598	0	0	0
Noninterest expense:
Salaries and employee benefits
22,799	22,346	21,820	21,565	21,784	21,658	21,646	21,706	21,270	20,913	20,606	19,548	19,187	18,657	18,540	18,817	18,748	18,191	17,707	17,786	17,073	18,001	17,591	17,036	16,682	16,088	15,974	15,634	15,262	15,127	0	0	0
Occupancy and equipment expense
4,208	4,410	4,603	4,585	4,640	4,780	4,882	5,002	5,070	5,098	5,166	5,227	5,215	5,166	5,027	4,939	5,021	5,193	5,323	5,448	5,314	5,082	4,875	4,626	4,491	4,243	4,055	3,826	3,589	3,392	0	0	0
Professional fees
2,132	2,072	1,841	1,749	1,691	1,638	1,612	1,666	1,686	1,664	1,529	1,463	1,548	1,586	1,780	1,658	1,414	1,394	1,217	1,285	1,263	1,285	1,403	1,450	1,687	1,838	1,716	1,708	1,676	1,511	0	0	0
Data processing fees
2,858	2,650	2,444	2,447	2,305	2,141	1,927	1,744	1,664	1,603	1,559	1,487	1,411	1,378	1,359	1,355	1,451	1,347	1,277	1,209	1,056	1,038	981	972	992	1,013	1,082	1,088	1,092	1,106	0	0	0
Marketing expense
557	569	509	472	448	365	392	392	358	333	302	285	241	231	245	244	289	321	344	311	577	740	884	1,035	905	798	805	691	763	837	0	0	0
Loan acquisition and collection expense
1,990	1,645	1,428	1,354	1,229	1,693	1,872	1,734	1,903	1,472	1,144	1,368	1,329	1,441	1,635	1,458	1,432	1,463	1,340	1,539	1,555	0	0	-	0	-	-	-	-	-	-	-	-
Loan acquisition and collection expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,465	0	-	0	0	-	-	-
FDIC insurance premiums
323	319	318	317	316	317	259	303	358	405	499	489	488	500	494	504	497	487	494	480	444	442	447	454	482	482	482	482	463	508	0	0	0
Intangible asset amortization
433	433	433	433	432	432	432	432	432	433	455	477	498	556	0	-	0	0	-	-	-	-	-	-	-	-	-	-	1,292	1,336	0	0	0
Intangible asset amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	702	746	790	833	888	943	0	0	0	-	-	-	-	-	-
Legal settlement recovery
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-250	0	0	0	-	-	-	-	-	-	-	-	-	-
Merger expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Other noninterest expense
3,188	3,267	2,975	2,808	2,772	2,460	2,855	2,810	3,077	3,467	3,368	3,468	3,272	3,185	3,043	3,040	3,151	3,204	3,258	3,223	2,959	2,755	2,721	2,693	2,472	2,405	2,332	2,497	3,035	3,330	0	0	0
Total noninterest expense
38,488	37,711	36,371	35,730	35,617	35,484	35,877	35,789	35,818	35,388	34,628	33,812	33,190	32,663	32,677	32,604	32,627	32,258	31,662	31,777	31,890	32,502	32,305	31,955	30,568	29,673	29,133	28,230	30,761	30,624	0	0	0
Income before income tax expense
26,577	25,521	23,022	23,197	23,457	23,321	23,575	20,138	16,655	13,755	11,520	11,723	11,662	11,766	11,535	11,136	8,788	6,767	6,381	4,279	3,375	5,073	5,124	6,176	6,247	4,422	0	-	0	0	-	-	-
Income (loss) from continuing operations before income tax expense (benefit)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0
Income tax expense
7,746	7,586	6,908	7,031	7,608	7,943	8,401	7,799	6,144	4,896	4,017	4,104	4,077	4,238	4,171	3,995	3,270	2,564	2,347	1,579	1,048	1,553	1,553	1,881	2,342	1,565	1,068	181	-75	-307	0	0	0
Net income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,034	2,700	3,788	4,813	0	-	0	0	-	-	0	0	-	-	0
Loss from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-12	43	127	0	-	0	0	-	-	-	-	-	-	-
Net income (loss) from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-
Income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	186	70	254	0	0	0
Gain on sale of discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,566	1,551	1,529	0	0	0
Income tax benefit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4	15	44	0	-	0	0	-	605	559	615	0	0	0
Net loss from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-8	28	83	0	-	0	0	-	-	0	0	-	-	-
Net income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Net income
18,831	17,935	16,114	16,166	15,849	15,378	15,174	12,339	10,511	8,859	7,503	7,619	7,585	7,528	7,364	7,141	5,518	4,203	4,016	2,692	2,353	3,582	3,706	4,420	5,265	3,767	2,668	2,163	13,511	13,499	0	0	0
Weighted-average shares outstanding:
Net income available to common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	3,449	4,065	4,811	3,215	2,276	1,771	13,118	13,106	0	0	0
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	-	-