TowneBank Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Interest Income on Loans	703.1	627.24	573.13	439.87	408.55
Interest Income on Investments	143.16	147.29	132.12	78.07	34.9
Total Interest Income	846.26	774.53	705.24	517.94	443.45
Interest Paid on Deposits	273.41	318.42	219.98	40.82	27.11
Interest Paid on Borrowings	9.25	13.5	27.49	15.76	13.98
Total Interest Expense	282.65	331.92	247.46	56.57	41.08
Net Interest Income	563.61	442.61	457.78	461.37	402.37
Net Interest Income Growth (YoY)	27.34%	-3.31%	-0.78%	14.66%	5.85%
Trust Income	57.62	50.49	47.79	44.25	-
Mortgage Banking Activities	48.58	46.96	39.42	47.15	109.3
Gain (Loss) on Sale of Investments	0.01	0.31	9.38	-	1.22
Gain (Loss) on Sale of Equity Investments	-	1.24	-0.97	0.56	1.33
Other Non-Interest Income	143.03	132.77	122.39	116.82	150.48
Total Non-Interest Income	272.11	251.15	236.34	225.57	277.96
Non-Interest Income Growth (YoY)	8.35%	6.26%	4.78%	-18.85%	-2.19%
Revenues Before Loan Losses	835.72	693.75	694.12	686.94	680.33
Provision for Loan Losses	23.94	-0.55	18.68	8.61	-16.77
Revenue	811.78	694.3	675.44	678.33	697.1
Revenue Growth (YoY)	16.92%	2.79%	-0.43%	-2.69%	16.74%
Salaries and Employee Benefits	317.49	281.38	263.14	250.41	240.21
Occupancy Expenses	40.48	-	-	-	-
Amortization of Goodwill & Intangibles	16.78	12.77	14.16	10.62	11.13
Selling, General & Administrative	90.84	139.39	128.46	113.82	105.21
Other Non-Interest Expense	80.75	69.04	73.88	65.37	59.71
Total Non-Interest Expense	546.34	502.57	479.63	440.21	416.25
EBT Excluding Unusual Items	265.44	191.72	195.82	238.12	280.85
Pretax Income	210.22	190.38	186.22	237.05	279.83
Income Tax Expense	39.43	27.65	31.09	46.58	54.8
Earnings From Continuing Operations	170.79	162.73	155.14	190.47	225.03
Minority Interest in Earnings	-1.27	-0.98	-1.42	-1.48	-9.65
Net Income	169.53	161.76	153.72	188.99	215.38
Net Income to Common	169.53	161.76	153.72	188.99	215.38
Net Income Growth	4.80%	5.23%	-18.66%	-12.26%	47.99%
Basic Shares Outstanding	76	75	75	73	72
Diluted Shares Outstanding	77	75	75	73	73
Shares Change (YoY)	2.06%	0.67%	2.87%	0.02%	0.30%
EPS (Basic)	2.22	2.16	2.06	2.60	2.97
EPS (Diluted)	2.21	2.15	2.06	2.60	2.97
EPS Growth	2.79%	4.41%	-20.80%	-12.46%	47.76%
Dividend Per Share	1.060	1.000	0.980	0.890	0.780
Dividend Growth	6.00%	2.04%	10.11%	14.10%	8.33%
Effective Tax Rate	18.75%	14.52%	16.69%	19.65%	19.58%

Source: S&P Global Market Intelligence. Banks template. Financial Sources.