Golden Valley Bancshares : Income Statement QOQ 12-31-2021

Income Statement Compare

Consolidated (Unaudited)

	QTD		QTD
	Actual		Actual
	Dec 2021		Dec 2020		$ Change	% Change
Interest Income
Interest on Loans	2,691,745	2,706,516	(14,770)		(0.5)
Fees on Loans	284,451	857,539	(573,087)	(66.8)
Interest on federal funds sold	16,765	1,008	15,757	1563.4
Interest on deposits with banks	70,694	110,513	(39,819)		(36.0)
Investment Securities - Taxable	638,102	466,954	171,148	36.7
Investment Securities - Tax-exempt	40,070	11,407	28,664	251.3
Total Interest Income
3,741,829	4,153,936	(412,108)	(9.9)
Interest Expense
Interest bearing demand deposits	10,730	13,331	(2,600)	(19.5)
Savings and Money Market Deposits	78,157	91,096	(12,939)		(14.2)
Time Deposits - Retail	18,233	48,039	(29,806)		(62.0)
Total Interest Expense on Deposits
107,120	152,465	(45,345)		(29.7)
FHLB Advances and other borrowings	2,244	4,338	(2,094)	(48.3)
Total Interest Expense
109,364	156,803	(47,439)		(30.3)
Net Interest Income
3,632,464	3,997,133	(364,669)	(9.1)
Provision for loan losses	-	732,089	(732,089)	(100.0)
Net In. Inc. After Prov. for Loan Losses
3,632,464	3,265,044	367,420	11.3
Non Interest Income
Service charges and fees	51,796	41,564	10,231	24.6
Other noninterest income	242,044	137,006	105,037	76.7
Total Non Interest Income
293,839	178,570	115,269		64.6
Non Interest Expense
Salaries and employee benefits	1,365,420	1,174,460	190,960	16.3
Occupancy	213,150	200,912	12,238	6.1
Other noninterest expense	841,977	712,692	129,285	18.1
Total Non Interest Expense
2,420,547	2,088,063	332,484	15.9
Income Before Taxes
1,505,756	1,355,551	150,205	11.1
Income taxes	418,000	412,000	6,000	1.5
Net Income	1,087,756	943,551	144,205	15.3