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PENINSULA BANK
CONDENSED STATEMENTS OF OPERATION
(IN $000's - EXCEPT FOR PER SHARE DATA) |
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December 31, |
December 31, |
December 31, |
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2007 |
2006 |
2005 |
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Interest Income |
|
47,665 |
41,575 |
26,032 |
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Interest Expense |
|
27,106 |
22,749 |
10,844 |
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Net Interest Income |
|
20,559 |
18,826 |
15,188 |
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Provision for Loan
Losses |
|
1,540 |
1,128 |
775 |
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Net Interest After
Provision |
|
19,019 |
17,698 |
14,413 |
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Noninterest Income |
|
2,788 |
3,152 |
2,588 |
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Noninterest Expense |
|
11,575 |
22,278 |
7,520 |
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Income Before Income
Taxes |
|
10,232 |
(1,428) |
9,481 |
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Provision for Income
Taxes |
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3,815 |
(691) |
3,554 |
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Net Income |
|
6,417 |
(737) |
5,927 |
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Net Income Per Share |
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1.66 |
(.26) |
2.35 |
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Number of Shares
Outstanding* |
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3,861 |
2,817 |
2,525 |
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*Number of shares
outstanding for each period have been restated for
presentation as a result of a 2-for-1 stock split in July
2004. Increases in the number of shares outstanding represent
exercise of stock options by certain directors and
employees.
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