First IC Corporation (FIEB)

First IC Income Statement

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

Fiscal Year	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	69.71	44.07	32.48	28.93	31.72
Interest Income on Investments	8.21	3.26	1.04	1.36	2.85
Total Interest Income	77.92	47.33	33.52	30.28	34.57
Interest Paid on Deposits	24.18	5.43	2.7	6.87	9.89
Interest Paid on Borrowings	1.89	0	0	0	0.16
Total Interest Expense	26.07	5.43	2.7	6.87	10.05
Net Interest Income	51.85	41.9	30.83	23.42	24.52
Net Interest Income Growth (YoY)	23.76%	35.91%	31.65%	-4.49%	21.95%
Other Non-Interest Income	3.39	3.64	4.24	3.21	2.95
Total Non-Interest Income	8.86	13.87	18.77	8.89	8.97
Non-Interest Income Growth (YoY)	-36.11%	-26.11%	111.19%	-0.91%	-9.80%
Revenues Before Loan Losses	60.71	55.76	49.59	32.3	33.48
Provision for Loan Losses	1	1	-	3.67	0.77
Revenue	59.71	54.76	49.59	28.63	32.72
Revenue Growth (YoY)	9.04%	10.43%	73.23%	-12.50%	14.02%
Salaries and Employee Benefits	14.45	14.1	12.71	10.19	9.89
Occupancy Expenses	3.54	3.62	3.35	2.6	1.39
Federal Deposit Insurance	0.73	0.25	0.2	0.13	0.11
Selling, General & Administrative	1.86	1.88	1.6	1.37	2.48
Other Non-Interest Expense	6	7.06	5.84	4.39	4.55
Total Non-Interest Expense	26.58	26.96	23.83	18.99	18.64
EBT Excluding Unusual Items	33.14	27.81	25.77	9.64	14.08
Pretax Income	33.14	27.81	25.77	9.64	14.08
Income Tax Expense	8.57	6.4	6.36	2.4	3.78
Net Income	24.57	21.41	19.41	7.24	10.3
Net Income to Common	24.57	21.41	19.41	7.24	10.3
Net Income Growth	14.76%	10.31%	167.95%	-29.66%	7.15%
Basic Shares Outstanding	9	9	10	10	10
Diluted Shares Outstanding	9	9	10	10	10
Shares Change (YoY)	-0.02%	-6.16%	-1.79%	-1.75%	3.33%
EPS (Basic)	2.71	2.36	2.01	0.74	1.03
EPS (Diluted)	2.71	2.36	2.01	0.74	1.03
EPS Growth	14.79%	17.55%	172.85%	-28.41%	3.69%
Dividend Per Share	-	1.000	-	-	-
Effective Tax Rate	25.86%	23.02%	24.68%	24.88%	26.85%

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