STEWARDSHIP FINANCIAL CORP SSFN Income Statement

Stewardship financial corp (SSFN)

Income statement / TTM

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
33,124	32,234	31,514	30,764	30,079	29,317	28,385	27,076	25,550	24,658	23,724	23,487	23,343	22,850	22,644	22,399	21,835	21,405	21,119	20,991	21,400	21,887	22,651	22,899	23,316	23,721	24,056	24,778	25,550	26,131	26,312	26,626	26,596	0	0	0
Securities held-to-maturity:
Taxable
1,472	1,372	1,247	1,131	1,032	1,000	990	999	1,026	1,077	1,107	1,090	1,061	990	933	889	839	728	580	441	317	276	287	318	358	411	487	548	607	656	687	767	975	0	0	0
Nontaxable
78	84	98	118	141	171	197	222	254	301	345	388	425	444	471	510	550	604	648	681	712	734	756	777	795	804	817	832	847	864	878	891	906	0	0	0
Securities available-for-sale:
Taxable
2,672	2,696	2,618	2,515	2,419	2,329	2,196	2,080	1,894	1,756	1,673	1,544	1,456	1,389	1,374	1,528	1,773	2,100	2,444	2,639	2,716	2,625	2,485	2,365	2,470	2,690	2,923	3,132	3,196	3,276	3,316	3,286	3,300	0	0	0
Nontaxable
56	57	57	57	57	57	57	55	50	41	33	27	24	24	24	24	24	24	24	59	129	200	271	307	304	291	275	261	246	234	217	188	168	0	0	0
Other equity investments
71	86	99	99	98	95	96	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FHLB dividends
225	224	228	242	247	233	203	167	139	126	124	123	123	125	123	116	108	98	94	93	93	93	92	95	99	104	108	109	111	113	122	125	129	0	0	0
Other interest-earning assets
67	108	138	159	197	143	106	96	62	75	79	69	51	42	40	34	28	24	25	25	29	31	29	35	38	40	41	41	42	41	42	38	30	0	0	0
Total interest income
37,765	36,861	35,999	35,085	34,270	33,345	32,230	30,767	29,024	28,060	27,085	26,728	26,483	25,864	25,609	25,500	25,157	24,983	24,934	24,929	25,396	25,846	26,571	26,796	27,380	28,061	28,707	29,701	30,599	31,315	31,574	31,921	32,104	0	0	0
Interest expense:
Deposits
6,511	5,936	5,293	4,706	4,171	3,621	3,189	2,809	2,526	2,368	2,292	2,269	2,228	2,173	2,068	1,958	1,846	1,783	1,807	1,888	2,022	2,171	2,336	2,523	2,758	3,060	3,402	3,765	4,168	4,554	4,860	5,364	5,888	0	0	0
Repurchase agreements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FHLB-NY Borrowings
1,198	1,025	968	953	1,072	1,193	1,177	1,043	874	756	716	777	826	836	850	800	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Subordinated Debentures and Subordinated Notes
1,576	1,576	1,575	1,558	1,538	1,516	1,492	1,481	1,469	1,460	1,505	1,562	1,434	1,197	908	611	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Borrowed money
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,478	1,477	1,477	1,473	1,557	1,654	1,773	1,910	1,980	2,049	2,104	2,151	2,173	0	0	0
Total interest expense
9,285	8,537	7,836	7,217	6,781	6,330	5,858	5,333	4,869	4,584	4,513	4,608	4,488	4,206	3,826	3,395	3,193	3,161	3,207	3,351	3,500	3,648	3,813	3,996	4,315	4,714	5,175	5,675	6,148	6,603	6,964	7,515	8,061	0	0	0
Net interest income before provision for loan losses
28,480	28,324	28,163	27,868	27,489	27,015	26,372	25,434	24,155	23,476	22,572	22,120	21,995	21,658	21,783	22,105	21,964	21,822	21,727	21,578	21,896	22,198	22,758	22,800	23,065	23,347	23,532	24,026	24,451	24,712	24,610	24,406	24,043	0	0	0
Provision for loan losses
0	0	-	0	0	0	-	0	0	0	-	-1,325	-1,475	-1,625	-1,375	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for loan losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	675	1,325	2,175	3,775	6,680	7,780	9,830	9,995	11,590	11,920	10,935	10,845	7,420	9,795	0	0	0
Net interest income after provision for loan losses
28,585	29,539	29,778	29,398	28,509	26,995	25,717	25,154	24,145	24,176	23,922	23,445	23,470	23,283	23,158	23,505	22,714	21,972	21,777	20,903	20,571	20,023	18,983	16,120	15,285	13,517	13,537	12,436	12,531	13,777	13,765	16,986	14,248	0	0	0
Noninterest income:
Fees and service charges
2,304	2,283	2,228	2,124	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fees and service charges
-	-	-	-	-	-	-	-	2,154	2,165	2,159	2,153	2,158	2,185	2,135	2,145	2,114	2,061	2,003	1,893	1,842	1,830	1,865	1,863	1,900	1,939	1,998	2,066	2,071	2,078	2,074	2,064	2,066	0	0	0
Bank owned life insurance
549	549	552	555	558	549	526	504	483	461	447	431	414	408	403	403	400	405	405	402	400	371	351	332	317	321	325	325	325	325	325	326	324	0	0	0
Gain on calls and sales of securities, net
-189	-190	-186	7	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on calls and sales of securities, net
-	-	-	-	-	-	-	-	7	39	63	79	73	41	169	317	317	317	165	151	151	151	153	1,006	1,897	1,909	2,340	2,022	1,585	1,594	1,161	949	0	0	-	0
Gain on sales of mortgage loans
87	73	70	98	154	183	178	217	182	163	164	94	113	149	141	143	123	70	72	85	203	499	649	770	782	638	887	1,101	1,184	1,216	1,209	929	750	0	0	0
Loss on sale of loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-241	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-
Gains (Losses) on Sales of Other Real Estate
-	-	-	0	-	-	-	0	0	-	-	0	0	-	83	62	62	116	63	98	254	200	326	279	86	456	429	0	0	0	-	-	-	-	-	-
Gain on sales of SBA loans
246	234	193	129	0	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (loss) on equity investments
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on life insurance proceeds
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	537	537	537	537	0	0	0	0	-	-	-	-	-	-
Miscellaneous
448	473	480	453	489	472	478	486	503	527	542	536	550	581	562	558	538	510	493	479	465	452	456	430	409	414	410	449	429	413	391	342	398	0	0	0
Total noninterest income
3,674	3,598	3,417	3,271	3,279	3,233	3,307	3,394	3,372	3,391	3,411	3,329	3,344	3,394	3,493	3,628	3,554	3,479	2,960	2,495	2,702	2,890	3,965	5,217	5,928	6,214	6,389	6,405	6,073	5,735	5,170	4,136	4,033	0	0	0
Noninterest expenses:
Salaries and employee benefits
12,637	12,664	12,636	12,324	11,969	11,720	11,455	11,302	11,247	11,109	10,980	10,964	10,961	10,907	10,900	10,919	10,758	10,627	10,597	10,383	10,329	10,483	10,501	10,410	10,234	9,780	9,470	9,143	9,129	9,133	8,983	8,954	8,522	0	0	0
Occupancy, net
1,722	1,708	1,701	1,685	1,673	1,663	1,630	1,612	1,598	1,609	1,598	1,624	1,651	1,670	1,739	1,737	1,749	1,846	1,934	2,021	2,100	2,083	2,045	2,053	2,029	1,997	1,967	1,939	1,961	1,965	2,023	2,037	2,002	0	0	0
Equipment
816	770	746	731	718	692	673	653	635	621	609	612	632	649	655	653	645	655	687	744	774	798	794	820	863	907	971	970	965	960	970	1,016	1,058	0	0	0
Data processing
2,003	1,966	1,947	1,893	1,848	1,826	1,811	1,850	1,891	1,912	1,915	1,901	1,884	1,866	1,847	1,827	1,792	1,768	1,702	1,693	1,587	1,484	1,425	1,304	1,301	1,285	1,291	1,315	1,326	1,348	1,351	1,344	1,336	0	0	0
Advertising
728	741	715	727	717	721	700	725	708	654	669	647	677	778	839	856	949	902	820	819	648	577	558	482	510	509	537	473	508	508	446	0	0	0	-	-
FDIC insurance premium
272	277	277	286	270	309	322	257	307	288	317	402	389	416	423	420	466	482	580	707	794	937	876	801	735	614	612	618	616	608	714	804	889	0	0	0
Charitable contributions
905	925	910	795	745	670	615	510	460	430	375	300	310	290	290	275	230	205	180	85	100	115	130	91	31	-4	86	0	0	0	-	-	-	-	-	-
Stationery and supplies
-	-	-	-	-	-	-	-	-	-	-	132	149	145	155	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal
-	-	-	-	-	-	-	-	-	-	-	210	217	276	320	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bank-card related services
544	537	533	521	525	536	551	569	582	590	579	561	555	536	528	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Merger-related expenses
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other real estate owned, net
-	-	-	0	-	-	-24	-38	-65	-84	-143	-148	-239	-286	-298	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on early extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Charitable contributions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	310	0	0	0
Miscellaneous
2,673	2,721	2,680	2,592	2,571	2,469	2,520	2,989	2,875	2,894	2,717	2,299	2,262	2,213	2,185	967	1,315	1,774	2,144	2,223	2,228	2,108	2,094	1,941	2,494	2,802	2,877	3,532	2,931	2,576	2,492	3,567	3,666	0	0	0
Total noninterest expenses
22,591	22,309	22,145	21,554	21,036	20,615	20,301	20,235	20,198	20,114	19,902	19,800	19,926	20,032	20,179	20,323	20,187	20,188	20,233	20,090	19,975	20,000	19,838	19,744	20,039	19,732	19,653	19,677	19,123	18,835	18,666	18,443	17,999	0	0	0
Income before income tax expense
9,668	10,828	11,050	11,115	10,752	9,613	8,723	8,313	7,319	7,453	7,431	6,974	6,888	6,645	6,472	6,810	6,081	5,263	4,504	3,308	3,298	2,913	3,110	1,593	1,174	-1	273	-836	-519	677	269	2,679	282	0	0	0
Income tax expense
2,647	2,959	3,020	4,796	4,955	4,849	4,776	3,066	2,677	2,717	2,695	2,525	2,474	2,371	2,272	2,370	2,089	1,767	1,419	859	879	759	640	48	-177	-567	-247	-654	-587	-300	-415	693	-61	0	0	0
Net income
7,021	7,869	8,030	6,319	5,797	4,764	3,947	5,247	4,642	4,736	4,736	4,449	4,414	4,274	4,200	4,440	3,992	3,496	3,085	2,449	2,419	2,154	2,470	1,545	1,351	566	520	-182	68	977	684	1,986	343	0	0	0
Dividends on preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	456	627	683	683	683	682	682	638	633	575	0	0	-	0	-	-	-	-	-	-	-	-
Dividends on preferred stock and accretion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	395	495	558	657	551	0	0	0
Net income available to common shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,744	3,813	3,309	2,813	2,402	1,767	1,737	1,516	1,837	955	819	123	168	-445	-327	482	126	1,329	-208	0	0	0
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