Commencement Bancorp Inc. (CBWA)

Commencement Bancorp Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	26.51	23.14	17.18	17.94	16.64
Interest Income on Investments	3.3	3.26	2.64	1.24	1.2
Total Interest Income	29.82	26.4	19.81	19.18	17.83
Interest Paid on Deposits	10.19	7.84	1.32	1.43	2.4
Interest Paid on Borrowings	0.13	0.24	0.1	-	0.03
Total Interest Expense	10.32	8.08	1.42	1.43	2.42
Net Interest Income	19.5	18.32	18.39	17.75	15.41
Net Interest Income Growth (YoY)	6.40%	-0.36%	3.64%	15.13%	5.72%
Gain (Loss) on Sale of Investments	-0.94	-	-	-	-
Other Non-Interest Income	1.27	1.19	1.42	0.82	1.09
Total Non-Interest Income	0.59	1.33	1.54	0.94	1.23
Non-Interest Income Growth (YoY)	-55.39%	-13.78%	63.03%	-23.31%	29.31%
Revenues Before Loan Losses	20.09	19.65	19.93	18.69	16.65
Provision for Loan Losses	-0.44	0.05	0.28	2.4	1.15
Revenue	20.53	19.6	19.65	16.29	15.5
Revenue Growth (YoY)	4.75%	-0.24%	20.61%	5.13%	1.66%
Salaries and Employee Benefits	10.39	9.19	7.13	5.93	5.61
Occupancy Expenses	-	-	-	-	0.98
Selling, General & Administrative	2.77	3	2.63	2.5	1.23
Other Non-Interest Expense	3.74	3.73	3.14	2.66	2.63
Total Non-Interest Expense	16.9	15.92	12.9	11.09	10.44
EBT Excluding Unusual Items	3.63	3.68	6.74	5.2	5.06
Pretax Income	3.63	3.68	6.74	5.2	5.06
Income Tax Expense	0.62	0.63	1.25	1.01	1.02
Net Income	3.01	3.05	5.49	4.19	4.03
Net Income to Common	3.01	3.05	5.49	4.19	4.03
Net Income Growth	-1.25%	-44.47%	31.10%	3.94%	-15.81%
Basic Shares Outstanding	4	4	4	4	4
Diluted Shares Outstanding	4	4	4	4	4
Shares Change (YoY)	-3.33%	-0.65%	-3.79%	-0.18%	2.38%
EPS (Basic)	0.78	0.77	1.37	1.00	0.96
EPS (Diluted)	0.77	0.76	1.35	0.99	0.95
EPS Growth	1.32%	-43.70%	36.36%	4.21%	-18.10%
Effective Tax Rate	17.03%	17.12%	18.54%	19.48%	20.26%

Updated Jan 31, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.