STEWARDSHIP FINANCIAL CORP SSFN Income Statement

Stewardship financial corp (SSFN)

Income statement / Quarterly

Jun'19	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	Sep'10	Jun'10
Interest income:
Loans
8,660	8,238	8,182	8,044	7,770	7,518	7,432	7,359	7,008	6,586	6,123	5,833	6,116	5,652	5,886	5,689	5,623	5,446	5,641	5,125	5,193	5,160	5,513	5,534	5,680	5,924	5,761	5,951	6,085	6,259	6,483	6,723	6,666	6,440	6,797	6,693
Securities held-to-maturity:
Taxable
379	375	374	344	279	250	258	245	247	240	267	272	298	270	250	243	227	213	206	193	116	65	67	69	75	76	98	109	128	152	159	168	177	183	239	376
Nontaxable
17	19	20	22	23	33	40	45	53	59	65	77	100	103	108	114	119	130	147	154	173	174	180	185	195	196	201	203	204	209	216	218	221	223	229	233
Securities available-for-sale:
Taxable
613	671	698	690	637	593	595	594	547	460	479	408	409	377	350	320	342	362	504	565	669	706	699	642	578	566	579	747	798	799	788	811	878	839	758	825
Nontaxable
14	14	14	14	15	14	14	14	15	14	12	9	6	6	6	6	6	6	6	6	6	6	41	76	77	77	77	73	64	61	63	58	52	44	34	38
Other equity investments
11	12	24	24	26	25	24	23	23	26	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FHLB dividends
59	60	53	53	58	64	67	58	44	34	31	30	31	32	30	30	33	30	23	22	23	26	22	22	23	25	25	26	28	29	26	28	30	38	29	32
Other interest-earning assets
19	12	12	24	60	42	33	62	6	5	23	28	19	9	13	10	10	7	7	4	6	8	7	8	8	6	13	11	10	7	13	12	9	8	9	4
Total interest income
9,772	9,401	9,377	9,215	8,868	8,539	8,463	8,400	7,943	7,424	7,000	6,657	6,979	6,449	6,643	6,412	6,360	6,194	6,534	6,069	6,186	6,145	6,529	6,536	6,636	6,870	6,754	7,120	7,317	7,516	7,748	8,018	8,033	7,775	8,095	8,201
Interest expense:
Deposits
1,844	1,708	1,555	1,404	1,269	1,065	968	869	719	633	588	586	561	557	565	545	506	452	455	433	443	476	536	567	592	641	723	802	894	983	1,086	1,205	1,280	1,289	1,590	1,729
Repurchase agreements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	72	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FHLB-NY Borrowings
371	316	297	214	198	259	282	333	319	243	148	164	201	203	209	213	211	217	-	159	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Subordinated Debentures and Subordinated Notes
393	393	395	395	393	392	378	375	371	368	367	363	362	413	424	235	125	124	-	127	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Borrowed money
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	367	363	375	373	366	363	371	457	463	482	508	527	532	537	555	549
Total interest expense
2,608	2,417	2,247	2,013	1,860	1,716	1,628	1,577	1,409	1,244	1,103	1,113	1,124	1,173	1,198	993	842	793	767	791	810	839	911	940	958	1,004	1,094	1,259	1,357	1,465	1,594	1,732	1,812	1,826	2,145	2,278
Net interest income before provision for loan losses
7,164	6,984	7,130	7,202	7,008	6,823	6,835	6,823	6,534	6,180	5,897	5,544	5,855	5,276	5,445	5,419	5,518	5,401	5,767	5,278	5,376	5,306	5,618	5,596	5,678	5,866	5,660	5,861	5,960	6,051	6,154	6,286	6,221	5,949	5,950	5,923
Provision for loan losses
330	65	-	-490	-780	-335	-	20	260	300	-	-250	-450	-350	-275	-400	-600	-100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for loan losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	250	0	0	425	900	850	1,600	3,330	2,000	2,900	1,765	4,925	2,330	1,915	1,675	1,500	4,705
Net interest income after provision for loan losses
6,834	6,919	7,140	7,692	7,788	7,158	6,760	6,803	6,274	5,880	6,197	5,794	6,305	5,626	5,720	5,819	6,118	5,501	6,067	5,028	5,376	5,306	5,193	4,696	4,828	4,266	2,330	3,861	3,060	4,286	1,229	3,956	4,306	4,274	4,450	1,218
Noninterest income:
Fees and service charges
572	562	628	542	551	507	-	524	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fees and service charges
-	-	-	-	-	-	-	-	519	535	564	536	530	529	558	541	557	479	568	510	504	421	458	459	492	456	456	496	531	515	524	501	538	511	514	503
Bank owned life insurance
138	135	138	138	138	138	141	141	129	115	119	120	107	101	103	103	101	96	103	100	106	96	100	98	77	76	81	83	81	80	81	83	81	80	82	81
Gain on calls and sales of securities, net
1	2	-192	0	0	6	-	1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on calls and sales of securities, net
-	-	-	-	-	-	-	-	0	0	1	6	32	24	17	0	0	152	165	0	0	0	151	0	0	2	1,004	891	12	433	686	454	21	0	-	474
Gain on sales of mortgage loans
23	25	27	12	9	22	55	68	38	17	94	33	19	18	24	52	55	10	26	32	2	12	39	150	298	162	160	162	154	411	374	245	186	404	94	66
Loss on sale of loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-241	-	-	-	0	-	-	-	-	-	-	-	-	-	-
Gains (Losses) on Sales of Other Real Estate
-	-	-	0	-	-	-	0	13	-	-	0	6	-	30	0	0	53	9	0	54	0	44	156	0	126	-3	-37	370	99	-	-	-	-	-	-
Gain on sales of SBA loans
71	41	64	70	59	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (loss) on equity investments
24	22	-	-	-29	-74	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on life insurance proceeds
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	537	0	0	0	0	-	-	-	-	-	-
Miscellaneous
106	119	148	75	131	126	121	111	114	132	129	128	138	147	123	142	169	128	119	122	141	111	105	108	128	115	79	87	133	111	118	67	117	89	69	123
Total noninterest income
935	906	996	837	859	725	850	845	813	799	937	823	832	819	855	838	882	918	990	764	807	399	525	971	995	1,474	1,777	1,682	1,281	1,649	1,793	1,350	943	1,084	759	1,247
Noninterest expenses:
Salaries and employee benefits
3,102	3,137	3,200	3,198	3,129	3,109	2,888	2,843	2,880	2,844	2,735	2,788	2,742	2,715	2,719	2,785	2,688	2,708	2,738	2,624	2,557	2,678	2,524	2,570	2,711	2,696	2,433	2,394	2,257	2,386	2,106	2,380	2,261	2,236	2,077	1,948
Occupancy, net
417	449	430	426	403	442	414	414	393	409	396	400	404	398	422	427	423	467	420	439	520	555	507	518	503	517	515	494	471	487	487	516	475	545	501	481
Equipment
234	205	191	186	188	181	176	173	162	162	156	155	148	150	159	175	165	156	157	167	175	188	214	197	199	184	240	240	243	248	239	235	238	258	285	277
Data processing
515	503	496	489	478	484	442	444	456	469	481	485	477	472	467	468	459	453	447	433	435	387	438	327	332	328	317	324	316	334	341	335	338	337	334	327
Advertising
194	183	159	192	207	157	171	182	211	136	196	165	157	151	174	195	258	212	191	288	211	130	190	117	140	111	114	145	139	139	50	180	139	77	-	-
FDIC insurance premium
65	64	77	66	70	64	86	50	109	77	21	100	90	106	106	87	117	113	103	133	133	211	230	220	276	150	155	154	155	148	161	152	147	254	251	237
Charitable contributions
175	195	355	180	195	180	240	130	120	125	135	80	90	70	60	90	70	70	45	45	45	45	-50	60	60	60	-89	0	25	150	-	-	-	-	-	-
Stationery and supplies
-	-	-	-	-	-	-	-	-	-	-	42	47	33	10	59	43	43	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal
-	-	-	-	-	-	-	-	-	-	-	58	46	44	62	65	105	88	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bank-card related services
138	131	142	133	131	127	130	137	142	142	148	150	150	131	130	144	131	123	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Merger-related expenses
291	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other real estate owned, net
-	-	-	0	-	-	0	0	-9	-15	-14	-27	-28	-74	-19	-118	-75	-86	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on early extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Charitable contributions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	75	100	150	-15
Miscellaneous
655	725	609	684	703	684	521	663	601	735	990	549	620	558	572	512	571	530	-646	860	1,030	900	-567	865	910	886	-720	1,418	1,218	961	-65	817	863	877	1,010	916
Total noninterest expenses
5,786	5,592	5,659	5,554	5,504	5,428	5,068	5,036	5,083	5,114	5,002	4,999	4,999	4,902	4,900	5,125	5,105	5,049	5,044	4,989	5,106	5,094	4,901	4,874	5,131	4,932	4,807	5,169	4,824	4,853	4,831	4,615	4,536	4,684	4,608	4,171
Income before income tax expense
1,983	2,233	2,477	2,975	3,143	2,455	2,542	2,612	2,004	1,565	2,132	1,618	2,138	1,543	1,675	1,532	1,895	1,370	2,013	803	1,077	611	817	793	692	808	-700	374	-483	1,082	-1,809	691	713	674	601	-1,706
Income tax expense
530	586	718	813	842	647	2,494	972	736	574	784	583	776	552	614	532	673	453	712	251	351	105	152	271	231	-14	-440	46	-159	306	-847	113	128	191	261	-641
Net income
1,453	1,647	1,759	2,162	2,301	1,808	48	1,640	1,268	991	1,348	1,035	1,362	991	1,061	1,000	1,222	917	1,301	552	726	506	665	522	461	822	-260	328	-324	776	-962	578	585	483	340	-1,065
Dividends on preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	114	171	171	171	170	171	171	170	170	127	166	-	112	-	-	-	-	-	-	-	-
Dividends on preferred stock and accretion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	38	75	38	244	138	138	137	138
Net income available to common shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,061	886	1,051	746	1,130	382	555	335	495	352	334	656	-387	216	-362	701	-1,000	334	447	345	203	-1,203
Basic and diluted earnings per common share (in usd per share)
0.17	0.19	0.20	0.25	0.27	0.21	-0.01	0.19	0.16	0.16	0.23	0.17	0.22	0.16	0.18	0.15	0.17	0.12	0.19	0.06	0.09	0.06	0.08	0.06	0.06	0.11	-	-	-	-	-	-	-	-	-	-
Weighted average number of basic and diluted common shares outstanding (in shares)
8,713	8,687	8,679	8,677	8,675	8,658	8,684	8,643	8,174	6,124	-6,080,138	6,115	6,111	6,092,351	6,086	6,091	6,086	6,045	6,031	6,026	5,999	5,956	5,942	5,939	5,934	5,930	-	-	-	-	-	-	-	-	-	-
Basic earnings per common share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.04	-0.06	0.12	-0.18	0.06	0.08	0.06	0.03	-0.21
Diluted earnings per common share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.04	-0.06	0.12	-0.18	0.06	0.08	0.06	0.03	-0.21
Weighted average number of common shares outstanding
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,916	5,902	5,892	5,879	5,866	5,850	5,849	5,842	5,842
Weighted average number of diluted common shares outstanding
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,916	5,902	5,892	5,879	5,866	5,850	5,849	5,842	5,842