Southern Michigan Bancorp (SOMC) Income Statement

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Loans, including fees	4.68M
Taxable	120K
Tax-exempt	238K
Other	20K
Total interest income	5.06M
Deposits	554K
Other	119K
Total interest expense	673K
Net interest income	4.38M
Provision for loan losses	350K
Net interest income after provision for loan losses	4.03M
Service charges on deposit accounts	449K
Trust fees	276K
Net gains on security calls and sales
Net gains on loan sales	519K
Earnings on life insurance assets	82K
Gain on life insurance proceeds
Income from loan servicing
ATM and debit card fee income
Other	137K
Total non-interest income	1.81M
Salaries and employee benefits	2.49M
Occupancy, net	237K
Equipment	197K
Printing, postage and supplies	104K
Telecommunication expenses	55K
Professional and outside services	309K
FDIC assessments	94K
Software maintenance	125K
Amortization of other intangibles	82K
Expenses relating to OREO property
ATM expenses
Other	440K
Total non-interest expense	4.32M
INCOME BEFORE INCOME TAXES	1.52M
Federal income tax provision
NET INCOME	1.15M
Basic Earnings Per Common Share	0.49
Diluted Earnings Per Common Share	0.49
Dividends Declared Per Common Share	0.09

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