Attached files
| file | filename |
|---|---|
| 8-K - 8-K APRIL 23, 2015 EARNINGS RELEASE - AMERICAN NATIONAL BANKSHARES INC. | april232015_8k.htm |
| EX-99.1 - APRIL 23, 2015 NEWS RELEASE - AMERICAN NATIONAL BANKSHARES INC. | april232015_newsrelease.htm |
| 8-K - 8-K APRIL 23, 2015 EARNINGS RELEASE (PDF) - AMERICAN NATIONAL BANKSHARES INC. | april232015_8k.pdf |
| EX-99.1 - APRIL 23, 2015 NEWS RELEASE (PDF) - AMERICAN NATIONAL BANKSHARES INC. | april232015_newsrelease.pdf |
| EX-99.2 - APRIL 23, 2015 FINANCIAL TABLES (PDF) - AMERICAN NATIONAL BANKSHARES INC. | april232015_exhibit.pdf |
|
American National Bankshares Inc. and Subsidiaries
|
||||||||
|
Consolidated Balance Sheets
|
||||||||
|
(Dollars in thousands, except share and per share data)
|
||||||||
|
Unaudited
|
||||||||
|
March 31
|
||||||||
|
ASSETS
|
2015
|
2014
|
||||||
|
Cash and due from banks
|
$
|
23,995
|
$
|
25,880
|
||||
|
Interest-bearing deposits in other banks
|
75,254
|
45,466
|
||||||
|
Federal funds sold
|
13,616
|
-
|
||||||
|
Securities available for sale, at fair value
|
352,208
|
349,123
|
||||||
|
Restricted stock, at cost
|
5,336
|
4,529
|
||||||
|
Loans held for sale
|
1,936
|
1,389
|
||||||
|
Loans
|
965,902
|
783,369
|
||||||
|
Less allowance for loan losses
|
(12,844
|
)
|
(12,614
|
)
|
||||
|
Net Loans
|
953,058
|
770,755
|
||||||
|
Premises and equipment, net
|
24,371
|
23,359
|
||||||
|
Other real estate owned, net
|
2,653
|
3,233
|
||||||
|
Goodwill
|
44,210
|
39,043
|
||||||
|
Core deposit intangibles, net
|
3,583
|
2,828
|
||||||
|
Bank owned life insurance
|
17,261
|
14,845
|
||||||
|
Accrued interest receivable and other assets
|
22,617
|
19,352
|
||||||
|
Total assets
|
$
|
1,540,098
|
$
|
1,299,802
|
||||
|
Liabilities
|
||||||||
|
Demand deposits -- noninterest-bearing
|
$
|
289,818
|
$
|
218,795
|
||||
|
Demand deposits -- interest-bearing
|
229,721
|
170,894
|
||||||
|
Money market deposits
|
202,706
|
194,528
|
||||||
|
Savings deposits
|
110,104
|
89,024
|
||||||
|
Time deposits
|
410,326
|
378,008
|
||||||
|
Total deposits
|
1,242,675
|
1,051,249
|
||||||
|
Short-term borrowings:
|
||||||||
|
Customer repurchase agreements
|
53,664
|
34,153
|
||||||
|
Other short-term borrowings
|
-
|
-
|
||||||
|
Long-term borrowings
|
9,941
|
9,919
|
||||||
|
Trust preferred capital notes
|
27,546
|
27,444
|
||||||
|
Accrued interest payable and other liabilities
|
9,583
|
6,538
|
||||||
|
Total liabilities
|
1,343,409
|
1,129,303
|
||||||
|
Shareholders' equity
|
||||||||
|
Preferred stock, $5 par, 2,000,000 shares authorized,
|
||||||||
|
none outstanding
|
-
|
-
|
||||||
|
Common stock, $1 par, 10,000,000 shares authorized,
|
||||||||
|
8,727,696 shares outstanding at March 31, 2015 and
|
||||||||
|
7,905,243 shares outstanding at March 31, 2014
|
8,710
|
7,905
|
||||||
|
Capital in excess of par value
|
77,612
|
58,202
|
||||||
|
Retained earnings
|
106,102
|
100,721
|
||||||
|
Accumulated other comprehensive income, net
|
4,265
|
3,671
|
||||||
|
Total shareholders' equity
|
196,689
|
170,499
|
||||||
|
Total liabilities and shareholders' equity
|
$
|
1,540,098
|
$
|
1,299,802
|
||||
|
American National Bankshares Inc. and Subsidiaries
|
||||||||
|
Consolidated Statements of Income
|
||||||||
|
(Dollars in thousands, except share and per share data)
|
||||||||
|
Unaudited
|
||||||||
|
Three Months Ended
|
||||||||
|
March 31
|
||||||||
|
2015
|
2014
|
|||||||
|
Interest and Dividend Income:
|
||||||||
|
Interest and fees on loans
|
$
|
11,770
|
$
|
9,847
|
||||
|
Interest on federal funds sold
|
4
|
-
|
||||||
|
Interest and dividends on securities:
|
||||||||
|
Taxable
|
975
|
964
|
||||||
|
Tax-exempt
|
960
|
1,035
|
||||||
|
Dividends
|
82
|
75
|
||||||
|
Other interest income
|
48
|
33
|
||||||
|
Total interest and dividend income
|
13,839
|
11,954
|
||||||
|
Interest Expense:
|
||||||||
|
Interest on deposits
|
1,194
|
1,229
|
||||||
|
Interest on short-term borrowings
|
3
|
2
|
||||||
|
Interest on long-term borrowings
|
80
|
80
|
||||||
|
Interest on trust preferred capital notes
|
184
|
184
|
||||||
|
Total interest expense
|
1,461
|
1,495
|
||||||
|
Net Interest Income
|
12,378
|
10,459
|
||||||
|
Provision for loan losses
|
600
|
-
|
||||||
|
Net Interest Income After Provision
|
||||||||
|
for Loan Losses
|
11,778
|
10,459
|
||||||
|
Noninterest Income:
|
||||||||
|
Trust fees
|
952
|
1,122
|
||||||
|
Service charges on deposit accounts
|
497
|
413
|
||||||
|
Other fees and commissions
|
588
|
444
|
||||||
|
Mortgage banking income
|
222
|
263
|
||||||
|
Securities gains, net
|
310
|
39
|
||||||
|
Other
|
587
|
422
|
||||||
|
Total noninterest income
|
3,156
|
2,703
|
||||||
|
Noninterest Expense:
|
||||||||
|
Salaries
|
4,147
|
3,538
|
||||||
|
Employee benefits
|
1,075
|
975
|
||||||
|
Occupancy and equipment
|
1,172
|
936
|
||||||
|
FDIC assessment
|
185
|
164
|
||||||
|
Bank franchise tax
|
235
|
222
|
||||||
|
Core deposit intangible amortization
|
301
|
331
|
||||||
|
Data processing
|
462
|
348
|
||||||
|
Software
|
283
|
262
|
||||||
|
Foreclosed real estate, net
|
(5
|
)
|
16
|
|||||
|
Merger related expenses
|
359
|
-
|
||||||
|
Other
|
1,833
|
1,631
|
||||||
|
Total noninterest expense
|
10,047
|
8,423
|
||||||
|
Income Before Income Taxes
|
4,887
|
4,739
|
||||||
|
Income Taxes
|
1,372
|
1,289
|
||||||
|
Net Income
|
$
|
3,515
|
$
|
3,450
|
||||
|
Net Income Per Common Share:
|
||||||||
|
Basic
|
$
|
0.40
|
$
|
0.44
|
||||
|
Diluted
|
$
|
0.40
|
$
|
0.44
|
||||
|
Average Common Shares Outstanding:
|
||||||||
|
Basic
|
8,723,633
|
7,904,759
|
||||||
|
Diluted
|
8,732,679
|
7,917,601
|
||||||
|
American National Bankshares Inc. and Subsidiaries
|
||||||||||||||||||||
|
Financial Highlights
|
||||||||||||||||||||
|
(In thousands, except share, ratio and
|
||||||||||||||||||||
|
nonfinancial data, unaudited)
|
1st Qtr
|
4th Qtr
|
1st Qtr
|
YTD
|
YTD
|
|||||||||||||||
|
2015
|
2014
|
2014
|
2015
|
2014
|
||||||||||||||||
|
EARNINGS
|
||||||||||||||||||||
|
Interest income
|
$
|
13,839
|
$
|
11,869
|
$
|
11,954
|
$
|
13,839
|
$
|
11,954
|
||||||||||
|
Interest expense
|
1,461
|
1,414
|
1,495
|
1,461
|
1,495
|
|||||||||||||||
|
Net interest income
|
12,378
|
10,455
|
10,459
|
12,378
|
10,459
|
|||||||||||||||
|
Provision for loan losses
|
600
|
250
|
-
|
600
|
-
|
|||||||||||||||
|
Noninterest income
|
3,156
|
2,792
|
2,703
|
3,156
|
2,703
|
|||||||||||||||
|
Noninterest expense
|
10,047
|
8,943
|
8,423
|
10,047
|
8,423
|
|||||||||||||||
|
Income taxes
|
1,372
|
1,164
|
1,289
|
1,372
|
1,289
|
|||||||||||||||
|
Net income
|
3,515
|
2,890
|
3,450
|
3,515
|
3,450
|
|||||||||||||||
|
PER COMMON SHARE
|
||||||||||||||||||||
|
Earnings per share - basic
|
$
|
0.40
|
$
|
0.37
|
$
|
0.44
|
$
|
0.40
|
$
|
0.44
|
||||||||||
|
Earnings per share - diluted
|
0.40
|
0.37
|
0.44
|
0.40
|
0.44
|
|||||||||||||||
|
Cash dividends paid
|
0.23
|
0.23
|
0.23
|
0.23
|
0.23
|
|||||||||||||||
|
Book value per share (f)
|
22.58
|
22.07
|
21.57
|
22.58
|
21.57
|
|||||||||||||||
|
Book value per share - tangible (a) (f)
|
17.09
|
16.86
|
16.27
|
17.09
|
16.27
|
|||||||||||||||
|
Closing market price
|
22.58
|
24.81
|
23.52
|
22.58
|
23.52
|
|||||||||||||||
|
FINANCIAL RATIOS
|
||||||||||||||||||||
|
Return on average assets
|
0.93
|
%
|
0.86
|
%
|
1.06
|
%
|
0.93
|
%
|
1.06
|
%
|
||||||||||
|
Return on average equity
|
7.17
|
6.63
|
8.12
|
7.17
|
8.12
|
|||||||||||||||
|
Return on average tangible equity (b)
|
10.02
|
9.12
|
11.54
|
10.02
|
11.54
|
|||||||||||||||
|
Average equity to average assets
|
12.91
|
13.04
|
13.05
|
12.91
|
13.05
|
|||||||||||||||
|
Tangible equity to tangible assets (a)
|
9.98
|
10.16
|
10.23
|
9.98
|
10.23
|
|||||||||||||||
|
Efficiency ratio (e)
|
63.90
|
64.60
|
61.82
|
63.90
|
61.82
|
|||||||||||||||
|
Effective tax rate
|
28.07
|
28.71
|
27.20
|
28.07
|
27.20
|
|||||||||||||||
|
PERIOD-END BALANCES
|
||||||||||||||||||||
|
Securities
|
$
|
357,544
|
$
|
349,250
|
$
|
353,652
|
$
|
357,544
|
$
|
353,652
|
||||||||||
|
Loans held for sale
|
1,936
|
616
|
1,389
|
1,936
|
1,389
|
|||||||||||||||
|
Loans, net of unearned income
|
965,902
|
840,925
|
783,369
|
965,902
|
783,369
|
|||||||||||||||
|
Goodwill and other intangibles
|
47,793
|
41,088
|
41,871
|
47,793
|
41,871
|
|||||||||||||||
|
Assets
|
1,540,098
|
1,346,492
|
1,299,802
|
1,540,098
|
1,299,802
|
|||||||||||||||
|
Assets - tangible (a)
|
1,492,305
|
1,305,404
|
1,257,931
|
1,492,305
|
1,257,931
|
|||||||||||||||
|
Deposits
|
1,242,675
|
1,075,837
|
1,051,249
|
1,242,675
|
1,051,249
|
|||||||||||||||
|
Customer repurchase agreements
|
53,664
|
53,480
|
34,153
|
53,664
|
34,153
|
|||||||||||||||
|
Other short-term borrowings
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
|
Long-term borrowings
|
37,487
|
37,456
|
37,363
|
37,487
|
37,363
|
|||||||||||||||
|
Shareholders' equity
|
196,689
|
173,780
|
170,499
|
196,689
|
170,499
|
|||||||||||||||
|
AVERAGE BALANCES
|
||||||||||||||||||||
|
Securities
|
$
|
345,800
|
$
|
331,785
|
$
|
345,152
|
$
|
345,800
|
$
|
345,152
|
||||||||||
|
Loans held for sale
|
939
|
982
|
2,032
|
939
|
2,032
|
|||||||||||||||
|
Loans, net of unearned income
|
954,882
|
815,271
|
788,419
|
954,882
|
788,419
|
|||||||||||||||
|
Interest-earning assets
|
1,382,817
|
1,220,818
|
1,186,904
|
1,382,817
|
1,186,904
|
|||||||||||||||
|
Goodwill and other intangibles
|
47,988
|
41,222
|
42,077
|
47,988
|
42,077
|
|||||||||||||||
|
Assets
|
1,518,449
|
1,338,240
|
1,302,639
|
1,518,449
|
1,302,639
|
|||||||||||||||
|
Assets - tangible (a)
|
1,470,461
|
1,297,018
|
1,260,562
|
1,470,461
|
1,260,562
|
|||||||||||||||
|
Interest-bearing deposits
|
938,064
|
816,965
|
830,229
|
938,064
|
830,229
|
|||||||||||||||
|
Deposits
|
1,221,037
|
1,069,995
|
1,051,614
|
1,221,037
|
1,051,614
|
|||||||||||||||
|
Customer repurchase agreements
|
53,181
|
50,493
|
37,797
|
53,181
|
37,797
|
|||||||||||||||
|
Other short-term borrowings
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
|
Long-term borrowings
|
37,469
|
37,438
|
37,373
|
37,469
|
37,373
|
|||||||||||||||
|
Shareholders' equity
|
196,086
|
174,453
|
170,046
|
196,086
|
170,046
|
|||||||||||||||
|
American National Bankshares Inc. and Subsidiaries
|
||||||||||||||||||||
|
Financial Highlights
|
||||||||||||||||||||
|
(In thousands, except share, ratio and
|
|
|||||||||||||||||||
|
nonfinancial data, unaudited)
|
1st Qtr
|
4th Qtr
|
1st Qtr
|
YTD
|
YTD
|
|||||||||||||||
|
2015
|
2014
|
2014
|
2015
|
2014
|
||||||||||||||||
|
CAPITAL
|
||||||||||||||||||||
|
Weighted average shares outstanding - basic
|
8,723,633
|
7,855,872
|
7,904,759
|
8,723,633
|
7,904,759
|
|||||||||||||||
|
Weighted average shares outstanding - diluted
|
8,732,679
|
7,866,111
|
7,917,601
|
8,732,679
|
7,917,601
|
|||||||||||||||
|
ALLOWANCE FOR LOAN LOSSES
|
||||||||||||||||||||
|
Beginning balance
|
$
|
12,427
|
$
|
12,620
|
$
|
12,600
|
$
|
12,427
|
$
|
12,600
|
||||||||||
|
Provision for loan losses
|
600
|
250
|
-
|
600
|
-
|
|||||||||||||||
|
Charge-offs
|
(309
|
)
|
(566
|
)
|
(73
|
)
|
(309
|
)
|
(73
|
)
|
||||||||||
|
Recoveries
|
126
|
123
|
87
|
126
|
87
|
|||||||||||||||
|
Ending balance
|
$
|
12,844
|
$
|
12,427
|
$
|
12,614
|
$
|
12,844
|
$
|
12,614
|
||||||||||
|
LOANS
|
||||||||||||||||||||
|
Construction and land development
|
$
|
68,069
|
$
|
50,863
|
$
|
40,458
|
$
|
68,069
|
$
|
40,458
|
||||||||||
|
Commercial real estate
|
436,562
|
391,472
|
358,362
|
436,562
|
358,362
|
|||||||||||||||
|
Residential real estate
|
211,261
|
175,293
|
170,517
|
211,261
|
170,517
|
|||||||||||||||
|
Home equity
|
97,811
|
91,075
|
89,081
|
97,811
|
89,081
|
|||||||||||||||
|
Commercial and industrial
|
146,280
|
126,981
|
119,042
|
146,280
|
119,042
|
|||||||||||||||
|
Consumer
|
5,919
|
5,241
|
5,909
|
5,919
|
5,909
|
|||||||||||||||
|
Total
|
$
|
965,902
|
$
|
840,925
|
$
|
783,369
|
$
|
965,902
|
$
|
783,369
|
||||||||||
|
NONPERFORMING ASSETS AT PERIOD-END
|
||||||||||||||||||||
|
Nonperforming loans:
|
||||||||||||||||||||
|
90 days past due and accruing
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||||||
|
Nonaccrual
|
5,123
|
4,112
|
5,557
|
5,123
|
5,557
|
|||||||||||||||
|
Other real estate owned
|
2,653
|
2,119
|
3,233
|
2,653
|
3,233
|
|||||||||||||||
|
Nonperforming assets
|
$
|
7,776
|
$
|
6,231
|
$
|
8,790
|
$
|
7,776
|
$
|
8,790
|
||||||||||
|
ASSET QUALITY RATIOS
|
||||||||||||||||||||
|
Allowance for loan losses to total loans
|
1.33
|
%
|
1.48
|
%
|
1.61
|
%
|
1.33
|
%
|
1.61
|
%
|
||||||||||
|
Allowance for loan losses to
|
||||||||||||||||||||
|
nonperforming loans
|
250.71
|
302.21
|
226.99
|
250.71
|
226.99
|
|||||||||||||||
|
Nonperforming assets to total assets
|
0.50
|
0.46
|
0.68
|
0.50
|
0.68
|
|||||||||||||||
|
Nonperforming loans to total loans
|
0.53
|
0.49
|
0.71
|
0.53
|
0.71
|
|||||||||||||||
|
Annualized net charge-offs (recoveries)
|
||||||||||||||||||||
|
to average loans
|
0.08
|
0.22
|
(0.01
|
)
|
0.08
|
(0.01
|
)
|
|||||||||||||
|
OTHER DATA
|
||||||||||||||||||||
|
Fiduciary assets at period-end (c) (g)
|
$
|
502,779
|
$
|
450,498
|
$
|
435,635
|
$
|
502,779
|
$
|
435,635
|
||||||||||
|
Retail brokerage assets at period-end (c) (g)
|
$
|
244,725
|
$
|
210,265
|
$
|
189,130
|
$
|
244,725
|
$
|
189,130
|
||||||||||
|
Number full-time equivalent employees (d)
|
318
|
284
|
292
|
318
|
292
|
|||||||||||||||
|
Number of full service offices
|
27
|
24
|
25
|
27
|
25
|
|||||||||||||||
|
Number of loan production offices
|
2
|
2
|
2
|
2
|
2
|
|||||||||||||||
|
Number of ATM's
|
34
|
31
|
31
|
34
|
31
|
|||||||||||||||
|
Notes:
|
||||||||||||||||||||
|
(a) - Excludes goodwill and other intangible assets.
|
||||||||||||||||||||
|
(b) - Excludes amortization expense, net of tax, of intangible assets.
|
||||||||||||||||||||
|
(c) - Market value.
|
||||||||||||||||||||
|
(d) - Average for quarter.
|
||||||||||||||||||||
|
(e) - The efficiency ratio is calculated by dividing noninterest expense excluding gains or losses on the sale of OREO by net
|
||||||||||||||||||||
|
interest income including tax equivalent income on nontaxable loans and securities and excluding (a) gains or losses on
|
||||||||||||||||||||
|
securities and (b) gains or losses on sale of premises and equipment.
|
||||||||||||||||||||
|
(f) - Unvested restricted stock of 17,761 shares are not included in the calculation.
|
||||||||||||||||||||
|
(g) - Assets are not owned by the Company and are not reflected in the consolidated balance sheet.
|
||||||||||||||||||||
|
Net Interest Income Analysis
|
||||||||||||||||||||||||
|
For the Three Months Ended March 31, 2015 and 2014
|
||||||||||||||||||||||||
|
(in thousands, except rates)
|
||||||||||||||||||||||||
|
Interest
|
||||||||||||||||||||||||
|
Average Balance
|
Income/Expense
|
Yield/Rate
|
||||||||||||||||||||||
|
2015
|
2014
|
2015
|
2014
|
2015
|
2014
|
|||||||||||||||||||
|
Loans:
|
||||||||||||||||||||||||
|
Commercial
|
$
|
139,120
|
$
|
120,707
|
$
|
1,826
|
$
|
1,472
|
5.32
|
%
|
4.95
|
%
|
||||||||||||
|
Real estate
|
801,373
|
664,772
|
9,719
|
8,296
|
4.85
|
4.99
|
||||||||||||||||||
|
Consumer
|
15,328
|
4,972
|
240
|
89
|
6.35
|
7.26
|
||||||||||||||||||
|
Total loans
|
955,821
|
790,451
|
11,785
|
9,857
|
4.94
|
5.00
|
||||||||||||||||||
|
Securities:
|
||||||||||||||||||||||||
|
Federal agencies & GSEs
|
74,850
|
68,356
|
245
|
178
|
1.31
|
1.04
|
||||||||||||||||||
|
Mortgage-backed & CMOs
|
65,558
|
66,631
|
378
|
403
|
2.31
|
2.42
|
||||||||||||||||||
|
State and municipal
|
190,216
|
193,542
|
1,763
|
1,899
|
3.71
|
3.92
|
||||||||||||||||||
|
Other
|
15,176
|
16,623
|
123
|
127
|
3.24
|
3.06
|
||||||||||||||||||
|
Total securities
|
345,800
|
345,152
|
2,509
|
2,607
|
2.90
|
3.02
|
||||||||||||||||||
|
Federal funds sold
|
14,580
|
-
|
4
|
-
|
0.11
|
-
|
||||||||||||||||||
|
Deposits in other banks
|
66,616
|
51,301
|
48
|
33
|
0.29
|
0.26
|
||||||||||||||||||
|
Total interest-earning assets
|
1,382,817
|
1,186,904
|
14,346
|
12,497
|
4.16
|
4.22
|
||||||||||||||||||
|
Non-earning assets
|
135,632
|
115,735
|
||||||||||||||||||||||
|
Total assets
|
$
|
1,518,449
|
$
|
1,302,639
|
||||||||||||||||||||
|
Deposits:
|
||||||||||||||||||||||||
|
Demand
|
$
|
212,673
|
$
|
168,080
|
18
|
22
|
0.03
|
0.05
|
||||||||||||||||
|
Money market
|
202,935
|
192,871
|
71
|
75
|
0.14
|
0.16
|
||||||||||||||||||
|
Savings
|
107,683
|
86,898
|
12
|
14
|
0.05
|
0.07
|
||||||||||||||||||
|
Time
|
414,773
|
382,380
|
1,093
|
1,118
|
1.07
|
1.19
|
||||||||||||||||||
|
Total deposits
|
938,064
|
830,229
|
1,194
|
1,229
|
0.52
|
0.60
|
||||||||||||||||||
|
Customer repurchase agreements
|
53,181
|
37,797
|
3
|
2
|
0.02
|
0.02
|
||||||||||||||||||
|
Long-term borrowings
|
37,469
|
37,373
|
264
|
264
|
2.82
|
2.83
|
||||||||||||||||||
|
Total interest-bearing
|
||||||||||||||||||||||||
|
liabilities
|
1,028,714
|
905,399
|
1,461
|
1,495
|
0.57
|
0.67
|
||||||||||||||||||
|
Noninterest bearing demand deposits
|
282,973
|
221,385
|
||||||||||||||||||||||
|
Other liabilities
|
10,676
|
5,809
|
||||||||||||||||||||||
|
Shareholders' equity
|
196,086
|
170,046
|
||||||||||||||||||||||
|
Total liabilities and
|
||||||||||||||||||||||||
|
shareholders' equity
|
$
|
1,518,449
|
$
|
1,302,639
|
||||||||||||||||||||
|
Interest rate spread
|
3.59
|
%
|
3.55
|
%
|
||||||||||||||||||||
|
Net interest margin
|
3.73
|
%
|
3.71
|
%
|
||||||||||||||||||||
|
Net interest income (taxable equivalent basis)
|
12,885
|
11,002
|
||||||||||||||||||||||
|
Less: Taxable equivalent adjustment
|
507
|
543
|
||||||||||||||||||||||
|
Net interest income
|
$
|
12,378
|
$
|
10,459
|
||||||||||||||||||||