Somerset Trust Holding Company (SOME)

SOME Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	98.59	84.48	63.13	59.41	56.81	52.07
Interest Income on Investments	21.11	21.11	15.91	9.98	9.51	9.95
Total Interest Income	119.7	105.59	79.04	69.38	66.32	62.02
Interest Paid on Deposits	32.41	18.05	5.45	5.01	7.47	8.5
Interest Paid on Borrowings	7.52	7.52	3.1	2.26	2.82	2.7
Total Interest Expense	39.93	25.57	8.55	7.26	10.29	11.2
Net Interest Income	79.77	80.02	70.49	62.12	56.03	50.82
Net Interest Income Growth (YoY)	-0.79%	13.52%	13.48%	10.86%	10.25%	10.29%
Trust Income	5.21	4.85	4.86	4.62	3.9	3.71
Gain (Loss) on Sale of Investments	-	-0.25	-2.48	0	1.64	2.25
Other Non-Interest Income	9.95	9.02	8.55	8.35	7.6	6.47
Total Non-Interest Income	17.57	16.03	13.55	16.85	18.82	15.71
Non-Interest Income Growth (YoY)	33.66%	18.29%	-19.57%	-10.48%	19.81%	24.89%
Revenues Before Loan Losses	97.33	96.04	84.04	78.96	74.85	66.53
Provision for Loan Losses	2.39	3.4	1.05	4.14	6.56	2.65
Revenue	94.95	92.64	82.99	74.82	68.29	63.88
Revenue Growth (YoY)	3.15%	11.63%	10.92%	9.57%	6.90%	11.87%
Salaries and Employee Benefits	34.75	32.1	31.73	33.44	31	29.33
Occupancy Expenses	5.39	4.5	3.96	3.79	4.13	3.8
Federal Deposit Insurance	1.31	1.31	1.14	1.01	0.7	0.33
Amortization of Goodwill & Intangibles	-	-	-	0.14	0.03	0.01
Selling, General & Administrative	17.88	17.88	15.28	14.79	12.46	11.3
Other Non-Interest Expense	10.79	9.61	6.83	6.69	7.16	7
Total Non-Interest Expense	70.01	65.29	58.92	59.81	55.51	51.81
EBT Excluding Unusual Items	24.94	27.35	24.08	15.01	12.78	12.07
Asset Writedown	-	-	0.06	0.54	-	-
Other Unusual Items	-	-	-	-	-	0.18
Pretax Income	24.94	27.35	24.14	15.56	12.78	12.25
Income Tax Expense	4.14	4.11	3.28	1.61	1.24	1.12
Net Income	20.79	23.24	20.86	13.95	11.54	11.13
Net Income to Common	20.79	23.24	20.86	13.95	11.54	11.13
Net Income Growth	-19.16%	11.41%	49.55%	20.89%	3.66%	2.88%
Basic Shares Outstanding	3	3	3	3	3	2
Diluted Shares Outstanding	3	3	3	3	3	2
Shares Change (YoY)	0.20%	0.16%	0.44%	0.01%	2.13%	0.78%
EPS (Basic)	8.24	9.21	8.28	5.56	4.60	4.53
EPS (Diluted)	8.24	9.21	8.28	5.56	4.60	4.53
EPS Growth	-19.32%	11.23%	48.89%	20.87%	1.49%	2.09%
Dividend Per Share	1.640	1.610	1.570	1.530	1.490	1.440
Dividend Growth	-	2.55%	2.61%	2.68%	3.47%	4.35%
Effective Tax Rate	16.61%	15.04%	13.59%	10.35%	9.71%	9.16%

Source: S&P Capital IQ. Banks template. Financial Sources.