Ixonia Annual Report 2017
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<strong>Ixonia</strong> Bancshares, Inc. – Consolidated Statement of Operations<br />
(amounts in thousands)<br />
INCOME Mar. 31,<br />
2018<br />
Three Months Ending,<br />
Mar. 31,<br />
<strong>2017</strong><br />
Twelve Months Ending,<br />
Dec. 31,<br />
<strong>2017</strong><br />
Dec. 31,<br />
2016<br />
Interest and dividend income $ 2,923 $ 2,347 $ 10,156 $ 9,195<br />
Interest Expense 414 266 1,031 930<br />
Net interest income 2,509 2,081 9,125 8,265<br />
Provision for loan losses − − − −<br />
Net interest income after provision for loan losses 2,509 2,081 9,125 8,265<br />
Total noninterest income 710 507 2,248 2,192<br />
Noninterest expense:<br />
Salaries and benefits 1,686 1,301 5,836 5,112<br />
Occupancy and equipment 415 365 1,382 1,341<br />
Other 216 203 1,548 1,042<br />
Total noninterest expense 2,744 2,194 10,193 8,617<br />
Income before provision for income taxes 475 394 1,180 1,840<br />
Total Equity $ 42,524 $ 45,915 $ 42,600 $ 45,500<br />
In First Quarter 2018:<br />
Pre-tax income of:<br />
Loan interest<br />
income increased<br />
+29 %<br />
$<br />
487,000<br />
This exceeded first quarter <strong>2017</strong><br />
pre-tax income of $411,000, it also<br />
exceeded the total annual pre-tax<br />
income of 2013, 2014, and 2015.<br />
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