Security Bank Corporation (PSE: SECB)

Security Bank Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	43,448	39,134	30,060	28,382	34,437	33,914
Interest Income on Investments	11,394	9,961	6,695	4,522	5,916	10,290
Total Interest Income	54,841	49,095	36,755	32,903	40,353	44,204
Interest Paid on Deposits	7,259	8,195	5,043	2,941	5,186	10,528
Interest Paid on Borrowings	6,931	6,166	2,466	2,506	4,518	6,832
Total Interest Expense	14,191	14,361	7,509	5,447	9,703	17,360
Net Interest Income	40,651	34,734	29,246	27,456	30,650	26,844
Net Interest Income Growth (YoY)	33.08%	18.76%	6.52%	-10.42%	14.18%	28.93%
Income From Trading Activities	-569.97	288.56	-25.87	1,092	11,105	1,538
Gain (Loss) on Sale of Assets	1,059	1,212	1,497	1,391	281.64	20.82
Gain (Loss) on Sale of Investments	-	-	4	66.03	3,186	-
Gain (Loss) on Sale of Equity Investments	160.06	179.57	147.36	81.35	-194.98	23.8
Other Non-Interest Income	6,696	6,545	8,767	6,724	5,346	5,522
Total Non-Interest Income	7,345	8,225	10,389	9,354	19,723	7,105
Non-Interest Income Growth (YoY)	-29.93%	-20.83%	11.06%	-52.57%	177.59%	48.68%
Revenues Before Loan Losses	47,996	42,959	39,635	36,811	50,373	33,949
Provision for Loan Losses	6,379	4,666	2,634	5,281	26,383	4,174
Revenue	41,617	38,293	37,001	31,530	23,990	29,774
Revenue Growth (YoY)	11.86%	3.49%	17.35%	31.43%	-19.43%	19.65%
Salaries and Employee Benefits	9,965	8,913	7,539	6,922	6,404	5,581
Occupancy Expenses	2,436	2,223	2,189	2,292	2,097	1,947
Amortization of Goodwill & Intangibles	716.06	675.04	551.18	362.32	309.43	259.97
Selling, General & Administrative	1,254	1,223	815.16	595.97	685.57	1,043
Other Non-Interest Expense	13,889	12,677	11,486	10,644	9,936	8,337
Total Non-Interest Expense	28,261	25,711	22,581	20,817	19,432	17,168
EBT Excluding Unusual Items	13,356	12,582	14,420	10,713	4,558	12,606
Asset Writedown	-130.81	-134.68	-207.06	15.15	-35.15	-8.81
Legal Settlements	-388.09	-388.09	-328.17	-466.91	-269.39	-181.9
Pretax Income	12,837	12,059	13,885	10,262	4,253	12,415
Income Tax Expense	3,202	2,953	3,330	3,345	-3,179	2,313
Earnings From Continuing Operations	9,635	9,105	10,556	6,917	7,432	10,102
Minority Interest in Earnings	-	-	-	-	-	-0.38
Net Income	9,635	9,105	10,556	6,917	7,432	10,102
Preferred Dividends & Other Adjustments	4.26	4.26	4.26	4.26	4.26	4.26
Net Income to Common	9,631	9,101	10,551	6,913	7,428	10,097
Net Income Growth	4.44%	-13.74%	52.60%	-6.93%	-26.43%	17.34%
Basic Shares Outstanding	754	754	754	754	754	754
Diluted Shares Outstanding	754	754	754	754	754	754
EPS (Basic)	12.78	12.08	14.00	9.17	9.86	13.40
EPS (Diluted)	12.78	12.08	14.00	9.17	9.86	13.40
EPS Growth	4.46%	-13.74%	52.64%	-6.94%	-26.44%	17.35%
Dividend Per Share	1.500	3.000	3.000	2.500	2.000	2.000
Dividend Growth	-66.67%	0%	20.00%	25.00%	0%	0%
Effective Tax Rate	24.94%	24.49%	23.98%	32.59%	-	18.63%

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