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Dollar Bank's Income Statement

Introduction: Dollar Bank, a federal savings bank, was founded in 1855. Since then, the bank has avoided mergers and acquisitions and remains an independent, large, full service, regional bank that is committed to the people and businesses of Pennsylvania and Ohio. The following information was extracted the FDIC database about Dollar Bank:

Year to date, June 30, 2004 reported net income was $20,190,000. The net is up 4 percent when compared to Dollar Bank' net income for the six months ended June 30, 2004 of $19,396,000. This represents a net improvement of net income of just slightly more than 4 percent.

For the same six month period ending June 30, 2004 total interest income was 4.15 percent and total interest expense was 1.45 percent. This resulted in net interest income of 2.69 percent. This is slightly lower than Dollar Bank's results for the six months ended June 30, 2003 when it recorded total interest income of 4.52 percent but total interest expense of 1.79 percent resulting in net interest income of 2.73 percent. Both of these figures for net interest income compare favorably to Dollar Bank's results for the twelve months ending December 31, 2003 in which the bank reported net interest income of 2.67 percent which was down from 2.96 percent reported by the bank for the twelve months ending December 31, 2002.

Dollar Bank's return on equity is described below:

Money states that for the fiscal year ended December 31, 2003 Dollar Bank had total assets of $5,117,796,000 and net income of $40,355,000. Therefore, Dollar Bank's return on assets was .79 percent ("The leading borrowing deals of the US" online).

For the twelve months ended December 31, 2002 Dollar Bank had total assets of $4,783,158,000 and net income of $37,036,000 resulting in a return on assets of .77 percent.

Dollar Bank's return on equity is described below:

For the twelve months ending December 31, 2003, Dollar Ba

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Dollar Bank's Income Statement. (1969, December 31). In LotsofEssays.com. Retrieved 03:38, March 29, 2024, from https://www.lotsofessays.com/viewpaper/1693873.html