Question: The latest report of condition and income and expense statement

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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