Question

The latest report of condition and income and expense statement for Smiling Merchants National Bank are as shown in the following tables:
Smiling Merchants National Bank (complete)
Income and Expense Statement (Report of Income)

Interest and fees on loans
$50

Interest and dividends on securities
6

Total interest income
56




Interest paid on deposits
40

Interest on nondeposit borrowings
6

Total interest expense
46


Net interest income
10

Provision for loan losses
5

Noninterest income and fees
20

Noninterest expenses:


Salaries and employee benefits
10*

Overhead expenses
5

Other noninterest expenses
2

Total noninterest expenses
17

Net noninterest income
-2




Pretax operating income
8

Securities gains (or losses)
2

Pretax net operating income
10

Taxes
2

Net operating income
8

Net extraordinary income
-1

Net income
7




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  • CreatedOctober 31, 2014
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