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Merchants Bank, Income and Expense

1998-12-31 (YTD Data)Rank
Total interest income$42,126,000794
Total interest expense$12,830,0001,215
Net interest income$29,296,000611
Provision for loan and lease losses$4,281,000361
Total noninterest income$5,328,000894
Gross Fiduciary activities income$01,398
Service charges on deposit accounts$3,833,000348
Trading account gains and fees$0224
Additional Noninterest Income$1,495,0001,407
Total noninterest expense$23,398,000651
Salaries and employee benefits$12,309,000581
Premises and equipment expense$3,920,000563
Additional noninterest expense$7,169,000751
Pre-tax net operating income$6,945,0001,087
Securities gains (losses)$04,449
Applicable income taxes$2,163,0001,166
Income before extraordinary items$4,782,0001,132
Extraordinary gains, net$032
Net income$4,782,0001,132
Minority interest net incomeNANA
Net income of bank and minority interests.NANA
Net charge-offs$1,365,000597
Cash dividends$2,000,0001,312
Sale, conversion, retirement of capital stock, net$-16,00010,307
Net operating income$4,782,0001,096
1997-12-31 (YTD Data)Rank
Total interest income$39,159,000877
Total interest expense$12,220,0001,301
Net interest income$26,939,000672
Provision for loan and lease losses$1,740,000658
Total noninterest income$6,023,000808
Gross Fiduciary activities income$01,450
Service charges on deposit accounts$4,282,000319
Trading account gains and fees$0239
Additional Noninterest Income$1,741,0001,200
Total noninterest expense$20,082,000736
Salaries and employee benefits$11,097,000630
Premises and equipment expense$3,923,000542
Additional noninterest expense$5,062,000953
Pre-tax net operating income$11,140,000742
Securities gains (losses)$15,0002,081
Applicable income taxes$3,506,000821
Income before extraordinary items$7,649,000738
Extraordinary gains, net$044
Net income$7,649,000739
Minority interest net incomeNANA
Net income of bank and minority interests.NANA
Net charge-offs$766,000946
Cash dividends$3,000,000929
Sale, conversion, retirement of capital stock, net$-28,00010,742
Net operating income$7,638,650720
1996-12-31 (YTD Data)Rank
Total interest income$35,234,000999
Total interest expense$11,159,0001,448
Net interest income$24,075,000775
Provision for loan and lease losses$940,0001,074
Total noninterest income$5,689,000873
Gross Fiduciary activities income$01,526
Service charges on deposit accounts$4,506,000341
Trading account gains and fees$0262
Additional Noninterest Income$1,183,0001,615
Total noninterest expense$19,577,000800
Salaries and employee benefits$11,116,000635
Premises and equipment expense$3,453,000651
Additional noninterest expense$5,008,0001,133
Pre-tax net operating income$9,247,000837
Securities gains (losses)$-2,0009,485
Applicable income taxes$2,850,000912
Income before extraordinary items$6,395,000844
Extraordinary gains, net$053
Net income$6,395,000845
Minority interest net incomeNANA
Net income of bank and minority interests.NANA
Net charge-offs$638,0001,194
Cash dividends$3,000,000948
Sale, conversion, retirement of capital stock, net$-225,00011,377
Net operating income$6,396,380821
1995-12-31 (YTD Data)Rank
Total interest income$19,686,0001,727
Total interest expense$5,805,0002,644
Net interest income$13,881,0001,300
Provision for loan and lease losses$08,958
Total noninterest income$2,729,0001,442
Gross Fiduciary activities income$01,590
Service charges on deposit accounts$2,305,000600
Trading account gains and fees$0522
Additional Noninterest Income$424,0003,195
Total noninterest expense$9,637,0001,475
Salaries and employee benefits$5,003,0001,324
Premises and equipment expense$1,520,0001,354
Additional noninterest expense$3,114,0001,646
Pre-tax net operating income$6,973,0001,114
Securities gains (losses)$03,831
Applicable income taxes$2,282,0001,126
Income before extraordinary items$4,691,0001,132
Extraordinary gains, net$065
Net income$4,691,0001,130
Minority interest net incomeNANA
Net income of bank and minority interests.NANA
Net charge-offs$435,0001,508
Cash dividends$3,000,000907
Sale, conversion, retirement of capital stock, net$0809
Net operating income$4,691,0001,108
1994-12-31 (YTD Data)Rank
Total interest income$16,933,0001,822
Total interest expense$4,796,0002,559
Net interest income$12,137,0001,483
Provision for loan and lease losses$50,0006,087
Total noninterest income$2,855,0001,420
Gross Fiduciary activities income$01,599
Service charges on deposit accounts$2,437,000568
Trading account gains and fees$0475
Additional Noninterest Income$418,0003,313
Total noninterest expense$9,914,0001,486
Salaries and employee benefits$4,825,0001,402
Premises and equipment expense$1,564,0001,338
Additional noninterest expense$3,525,0001,581
Pre-tax net operating income$5,028,0001,468
Securities gains (losses)$03,600
Applicable income taxes$1,587,0001,477
Income before extraordinary items$3,441,0001,442
Extraordinary gains, net$0249
Net income$3,441,0001,441
Minority interest net incomeNANA
Net income of bank and minority interests.NANA
Net charge-offs$-27,00011,482
Cash dividends$08,932
Sale, conversion, retirement of capital stock, net$01,160
Net operating income$3,441,0001,453
1993-12-31 (YTD Data)Rank
Total interest income$15,776,0001,987
Total interest expense$4,906,0002,618
Net interest income$10,870,0001,670
Provision for loan and lease losses$410,0002,419
Total noninterest income$2,935,0001,493
Gross Fiduciary activities income$01,630
Service charges on deposit accounts$2,461,000559
Trading account gains and fees$0532
Additional Noninterest Income$474,0003,371
Total noninterest expense$10,461,0001,461
Salaries and employee benefits$4,770,0001,416
Premises and equipment expense$1,365,0001,546
Additional noninterest expense$4,326,0001,421
Pre-tax net operating income$2,934,0002,342
Securities gains (losses)$29,0004,143
Applicable income taxes$822,0002,700
Income before extraordinary items$2,141,0002,333
Extraordinary gains, net$03,149
Net income$2,141,0002,427
Minority interest net incomeNANA
Net income of bank and minority interests.NANA
Net charge-offs$149,0003,680
Cash dividends$09,081
Sale, conversion, retirement of capital stock, net$01,223
Net operating income$2,120,1202,223
1992-12-31 (YTD Data)Rank
Total interest income$16,303,0002,169
Total interest expense$5,863,0002,844
Net interest income$10,440,0001,760
Provision for loan and lease losses$1,165,0001,679
Total noninterest income$2,908,0001,478
Gross Fiduciary activities income$01,658
Service charges on deposit accounts$2,334,000584
Trading account gains and fees$0504
Additional Noninterest Income$574,0002,912
Total noninterest expense$10,066,0001,529
Salaries and employee benefits$4,318,0001,540
Premises and equipment expense$1,265,0001,679
Additional noninterest expense$4,483,0001,469
Pre-tax net operating income$2,117,0002,942
Securities gains (losses)$16,0005,884
Applicable income taxes$310,0005,797
Income before extraordinary items$1,823,0002,519
Extraordinary gains, net$629,000174
Net income$2,452,0001,875
Minority interest net incomeNANA
Net income of bank and minority interests.NANA
Net charge-offs$1,519,0001,180
Cash dividends$08,912
Sale, conversion, retirement of capital stock, net$01,165
Net operating income$1,809,4002,353

* The data above is accumulated from the beginning of the year to the date posted. The data for Dec. 31 is the number for the entire year.