Somerset Trust Holding Company (SOME)

SOME Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	102.34	99.86	84.48	63.13	59.41	56.81
Interest Income on Investments	23.39	23.39	21.11	15.91	9.98	9.51
Total Interest Income	125.73	123.25	105.59	79.04	69.38	66.32
Interest Paid on Deposits	33.57	32.06	18.05	5.45	5.01	7.47
Interest Paid on Borrowings	10.66	10.66	7.52	3.1	2.26	2.82
Total Interest Expense	44.23	42.72	25.57	8.55	7.26	10.29
Net Interest Income	81.5	80.53	80.02	70.49	62.12	56.03
Net Interest Income Growth (YoY)	1.99%	0.64%	13.52%	13.48%	10.86%	10.25%
Trust Income	5.77	5.65	4.85	4.86	4.62	3.9
Gain (Loss) on Sale of Investments	-	-	-0.25	-2.48	0	1.64
Other Non-Interest Income	9.05	9.19	9.02	8.55	8.35	7.6
Total Non-Interest Income	17.62	17.64	16.03	13.55	16.85	18.82
Non-Interest Income Growth (YoY)	7.61%	10.07%	18.29%	-19.57%	-10.48%	19.81%
Revenues Before Loan Losses	99.12	98.17	96.04	84.04	78.96	74.85
Provision for Loan Losses	1.63	0.64	3.4	1.05	4.14	6.56
Revenue	97.49	97.53	92.64	82.99	74.82	68.29
Revenue Growth (YoY)	4.96%	5.27%	11.63%	10.92%	9.56%	6.90%
Salaries and Employee Benefits	36.67	36.82	32.1	31.73	33.44	31
Occupancy Expenses	5.73	5.33	4.5	3.96	3.79	4.13
Federal Deposit Insurance	1.69	1.69	1.31	1.14	1.01	0.7
Amortization of Goodwill & Intangibles	-	-	-	-	0.14	0.03
Selling, General & Administrative	16	16	17.88	15.28	14.79	12.46
Other Non-Interest Expense	8.2	8.24	9.61	6.83	6.69	7.16
Total Non-Interest Expense	68.25	68.05	65.29	58.92	59.81	55.51
EBT Excluding Unusual Items	29.24	29.48	27.35	24.08	15.01	12.78
Asset Writedown	-	-	-	0.06	0.54	-
Pretax Income	29.24	29.48	27.35	24.14	15.56	12.78
Income Tax Expense	4.73	4.99	4.11	3.28	1.61	1.24
Net Income	24.51	24.49	23.24	20.86	13.95	11.54
Net Income to Common	24.51	24.49	23.24	20.86	13.95	11.54
Net Income Growth	17.67%	5.40%	11.41%	49.55%	20.89%	3.66%
Basic Shares Outstanding	3	3	3	3	3	3
Diluted Shares Outstanding	3	3	3	3	3	3
Shares Change (YoY)	0.14%	-	0.16%	0.44%	0.01%	2.13%
EPS (Basic)	9.71	9.71	9.21	8.28	5.56	4.60
EPS (Diluted)	9.71	9.71	9.21	8.28	5.56	4.60
EPS Growth	17.50%	5.40%	11.23%	48.89%	20.87%	1.49%
Dividend Per Share	1.660	1.650	1.610	1.570	1.530	1.490
Dividend Growth	2.47%	2.48%	2.55%	2.61%	2.69%	3.47%
Effective Tax Rate	16.17%	16.93%	15.04%	13.59%	10.35%	9.71%

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