National commerce corp (NCOM)
Income statement / Quarterly
Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Sep'13
Interest and dividend income:
Interest and fees on loans

48,505

43,691

35,713

34,423

28,834

26,780

24,987

23,593

18,082

17,991

17,669

17,483

15,777

12,925

12,226

11,792

10,229

7,744

6,053

5,786

5,709

Interest and dividends on taxable investment securities

1,776

1,496

1,212

1,170

756

694

606

571

525

493

383

412

370

259

269

256

275

276

310

317

333

Interest on non-taxable investment securities

181

190

192

188

191

195

197

200

201

200

201

200

173

137

114

42

42

43

42

42

28

Interest on interest-bearing deposits and federal funds sold

968

818

596

539

443

533

676

535

224

152

129

218

168

129

105

103

32

44

44

63

31

Total interest income

51,430

46,195

37,713

36,320

30,224

28,202

26,466

24,899

19,032

18,836

18,382

18,313

16,488

13,450

12,714

12,193

10,578

8,107

6,449

6,208

6,101

Interest expense:
Interest on deposits

6,831

5,561

3,852

2,961

2,365

2,101

2,054

2,010

1,583

1,499

1,476

1,569

1,395

1,080

961

918

734

619

524

550

508

Interest on Federal Home Loan Bank advances

20

27

72

71

70

72

70

71

71

71

71

81

112

111

110

109

112

111

110

109

131

Interest on securities sold under agreements to repurchase

-

49

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest on subordinated debt

610

537

386

388

388

388

389

388

388

389

183

0

-

0

0

-

-

-

-

-

-

Total interest expense

7,533

6,174

4,310

3,420

2,824

2,561

2,513

2,469

2,042

1,959

1,730

1,650

1,507

1,191

1,071

1,027

846

730

634

659

639

Net interest income

43,897

40,021

33,403

32,900

27,400

25,641

23,953

22,430

16,990

16,877

16,652

16,663

14,981

12,259

11,643

11,166

9,732

7,377

5,815

5,549

5,462

Provision for loan losses

1,548

1,001

856

1,318

1,478

1,105

1,155

156

441

373

901

1,533

631

201

120

161

-

152

-

-

-

Net interest income after provision for loan losses

42,349

39,020

32,547

31,582

25,922

24,536

22,798

22,274

16,549

16,504

15,751

15,130

14,350

12,058

11,523

11,005

8,906

7,225

5,815

5,549

5,462

Noninterest income:
Service charges and fees on deposit accounts

-

-

-

-

-

-

-

-

-

511

505

480

402

311

308

267

202

174

172

166

154

Mortgage origination and fee income

-

-

-

-

-

-

-

-

-

2,245

1,627

1,392

1,063

1,439

1,505

1,271

986

1,013

1,048

705

1,064

Merchant sponsorship revenue

-

-

-

-

-

-

-

-

-

542

491

522

-

305

191

-

-

-

-

-

-

Income from bank-owned life insurance

340

323

276

286

210

210

219

216

196

206

204

204

182

86

86

79

63

59

60

60

59

Rental income

-

-

-

276

-

-

-

0

-

0

-

-

-

-

-

-

-

-

-

-

-

Wealth management fees

-

-

-

-

-

-

-

-

-

15

11

13

10

11

13

19

15

14

15

14

20

Gain on other real estate, net

-83

0

-32

171

-66

6

105

-1

-31

0

119

156

0

0

-11

-13

8

0

0

5

43

Gain (loss) on sale of investment securities available-for-sale

0

0

2

191

-119

0

28

0

-

0

0

-

-

-

-

-

-

-33

0

-

-

Other

964

689

448

418

814

245

338

659

450

483

400

358

114

201

114

141

145

93

31

17

52

Total noninterest income

4,854

4,768

4,675

4,984

4,625

4,546

5,100

5,440

3,472

4,002

3,357

3,125

2,136

2,353

2,206

1,764

1,419

1,320

1,326

967

1,392

Other expense:
Salaries and employee benefits

18,872

14,336

12,498

12,460

10,016

9,804

9,663

10,073

6,935

6,948

6,907

6,945

6,077

5,186

5,114

4,987

3,717

3,547

3,119

2,996

3,425

Commission-based compensation

1,753

1,876

1,825

1,501

1,700

1,748

1,684

1,723

1,076

1,104

1,036

875

844

1,048

1,056

796

900

459

471

306

-

Occupancy and equipment, net

2,260

2,439

2,025

2,270

1,649

1,608

1,479

1,473

1,193

1,181

1,131

1,135

1,048

871

829

836

572

477

459

436

404

Core deposit intangible amortization

1,466

1,306

738

739

393

366

348

348

182

191

192

191

175

111

111

111

-

-

-

-

-

Other operating expense

8,758

7,139

5,533

7,281

5,252

4,461

4,563

4,844

-

3,208

-

-

-

-

-

9,290

-

5,981

5,435

4,881

5,245

Other

-

-

-

-

-

-

-

-

-

-

2,988

2,907

-

2,679

2,506

2,560

1,949

1,498

1,386

1,143

1,416

Total other expense

33,109

27,096

22,619

24,251

19,010

17,987

17,737

18,461

12,140

12,632

12,254

12,053

-

9,895

9,616

-

-

-

-

-

-

Earnings before income taxes

14,094

16,692

14,603

12,315

11,537

11,095

10,161

9,253

7,881

7,874

6,854

6,202

5,042

4,516

4,113

3,479

3,169

2,564

1,706

1,635

1,609

Income tax expense

2,672

4,040

3,303

2,776

10,121

3,828

3,281

2,841

2,600

2,639

2,072

2,083

1,667

1,453

1,264

1,092

1,158

841

568

592

591

Net earnings

11,422

12,652

11,300

9,539

1,416

7,267

6,880

6,412

5,281

5,235

4,782

4,119

3,375

3,063

2,849

2,387

2,011

1,723

1,138

1,043

1,018

Less: Net earnings attributable to noncontrolling interest

721

676

616

456

413

570

431

493

374

422

428

340

437

573

593

466

-

208

-

-

-

Net earnings attributable to National Commerce Corporation

10,701

11,976

10,684

9,083

1,003

6,697

6,449

5,919

4,907

4,813

4,354

3,779

2,938

2,490

2,256

1,921

1,707

1,515

1,138

1,043

1,018

Basic earnings per common share (in dollars per share)

0.51

0.60

0.62

0.53

0.03

0.47

0.49

0.46

0.45

0.44

0.40

0.35

0.29

0.26

0.24

0.25

0.28

0.26

0.20

0.18

0.18

Diluted earnings per common share (in dollars per share)

0.49

0.59

0.61

0.52

0.02

0.46

0.48

0.45

0.45

0.43

0.39

0.34

0.27

0.26

0.24

0.25

0.27

0.26

0.20

0.18

0.18