Question

Smallville Bank has the following balance sheet, rates earned on its assets, and rates paid on its liabilities. Balance Sheet (in thousands) Assets Rate Earned (%) Cash and due from banks $ 7,100 0 Investment securities 33,000 7 Repurchase agreements 23,000 5 Loans less allowance for losses 91,000 9 Fixed assets 21,000 0 Other earning assets 4,500 8 Total assets $ 179,600 Liabilities and Equity Rate Paid (%) Demand deposits $ 9,000 0 NOW accounts 80,000 4 Retail CDs 29,000 6 Subordinated debentures 25,000 7 Total liabilities 143,000 Common stock 21,000 Paid-in capital surplus 4,100 Retained earnings 11,500 Total liabilities and equity $ 179,600 If the bank earns $131,000 in noninterest income, incurs $91,000 in noninterest expenses, and pays $2,610,000 in taxes, what is its net income? (Enter your answer in dollars, not thousands of dollars.) Net income

          Smallville Bank has the following balance sheet, rates earned on its assets, and rates paid on its liabilities.
Balance Sheet (in thousands)
Assets
Rate Earned (%)
Cash and due from banks
$ 7,100
0
Investment securities
33,000
7
Repurchase agreements
23,000
5
Loans less allowance for losses
91,000
9
Fixed assets
21,000
0
Other earning assets
4,500
8
Total assets
$ 179,600
Liabilities and Equity
Rate Paid (%)
Demand deposits
$ 9,000
0
NOW accounts
80,000
4
Retail CDs
29,000
6
Subordinated debentures
25,000
7
Total liabilities
143,000
Common stock
21,000
Paid-in capital surplus
4,100
Retained earnings
11,500
Total liabilities and equity
$ 179,600
If the bank earns $131,000 in noninterest income, incurs $91,000 in noninterest expenses, and pays $2,610,000 in taxes, what is its net
income? (Enter your answer in dollars, not thousands of dollars.)
Net income

Smallville Bank has the following balance sheet, rates earned on its assets, and rates paid on its liabilities.
Balance Sheet (in thousands)
Assets
Rate Earned (%)
Cash and due from banks
7,100
0
Investment securities
33,000
7
Repurchase agreements
23,000
5
Loans less allowance for losses
91,000
9
Fixed assets
21,000
0
Other earning assets
4,500
8
Total assets 179,600
Liabilities and Equity
Rate Paid (%)
Demand deposits
9,000
0
NOW accounts
80,000
4
Retail CDs
29,000
6
Subordinated debentures
25,000
7
Total liabilities
143,000
Common stock
21,000
Paid-in capital surplus
4,100
Retained earnings
11,500
Total liabilities and equity 179,600
If the bank earns 131,000 in noninterest income, incurs91,000 in noninterest expenses, and pays 2,610,000 in taxes, what is its net
income? (Enter your answer in dollars, not thousands of dollars.)
Net income

Added by Brittany B.

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