FRA:45V 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	362.53	290.76	278.17	195.2	147.81
Interest Income on Investments	-	37.05	25.84	16.68	12.25
Total Interest Income	362.53	327.8	304.01	211.88	160.07
Interest Paid on Deposits	161.62	168.21	122.88	29.49	14.22
Interest Paid on Borrowings	-	10.58	25.05	6.3	7.79
Total Interest Expense	161.62	178.8	147.92	35.8	22.01
Net Interest Income	200.91	149.01	156.09	176.08	138.06
Net Interest Income Growth (YoY)	34.83%	-4.54%	-11.35%	27.54%	8.20%
Trust Income	63.24	61.46	55.75	54.65	52.99
Gain (Loss) on Sale of Assets	-	-	-	0.28	-
Gain (Loss) on Sale of Investments	-	0.83	0.18	-8.31	-0.43
Other Non-Interest Income	18.85	15.2	15.09	12.53	10.96
Total Non-Interest Income	82.09	78.89	73.54	66.39	71.79
Non-Interest Income Growth (YoY)	4.06%	7.27%	10.76%	-7.52%	16.24%
Revenues Before Loan Losses	283	227.89	229.63	242.47	209.85
Provision for Loan Losses	23.52	7.5	14.09	6.35	6.48
Revenue	259.48	220.39	215.54	236.12	203.37
Revenue Growth (YoY)	17.73%	2.25%	-8.72%	16.10%	29.57%
Salaries and Employee Benefits	111.56	116.38	89.6	80.95	74.68
Occupancy Expenses	26.61	16.42	16.27	18.72	17.17
Federal Deposit Insurance	4.81	3.51	2.95	1.94	2.07
Selling, General & Administrative	8.73	14.12	16.26	10.41	8.47
Other Non-Interest Expense	55.46	24.96	22.66	21.58	22.9
Total Non-Interest Expense	207.17	175.39	147.73	133.6	125.29
EBT Excluding Unusual Items	52.31	45	67.81	102.52	78.08
Other Unusual Items	-	-	-	-	-0.65
Pretax Income	52.31	44.95	67.28	102.34	77.66
Income Tax Expense	14.98	11.96	18.43	28.1	21.04
Net Income	37.33	32.99	48.85	74.25	56.62
Net Income to Common	37.33	32.99	48.85	74.25	56.62
Net Income Growth	13.15%	-32.48%	-34.20%	31.13%	116.18%
Basic Shares Outstanding	18	18	18	18	19
Diluted Shares Outstanding	18	18	18	19	19
Shares Change (YoY)	-0.50%	-1.16%	-2.79%	-3.75%	1.11%
EPS (Basic)	2.12	1.87	2.74	4.09	3.01
EPS (Diluted)	2.10	1.85	2.71	4.00	2.93
EPS Growth	13.51%	-31.73%	-32.25%	36.52%	113.87%
Dividend Per Share	0.200	0.200	0.200	0.200	0.200
Effective Tax Rate	28.64%	26.61%	27.39%	27.45%	27.09%

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