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Financial Reports

2021 Comparative Statement of Income

Bath Savings Institution & Subsidiary | For The Years Ended December 31, 2021 and 2020
2021 2020
Interest & Dividend Income
Interest & Fees on Loans $27,163,502 $28,733,707
Interest & Dividends on Investments 7,045,422 6,209,908
Interest on Federal Funds Sold 49,861 58,635
Total Interest & Dividend Income $34,258,785 $35,002,250
Interest Expense 2,208,606 3,618,314
Net Interest Margin 32,050,179 31,383,936
Other Income 13,968,462 11,650,083
Operating Expenses
Compensation & Employee Benefits 15,109,373 13,799,670
Expense of Premises & Fixed Assets 6,344,351 5,486,871
Provision for Loan Losses 658,316 1,333,488
FDIC & Other Insurance 431,737 260,114
Other Operating Expenses 5,775,913 5,859,869
Total Operating Expenses $28,319,690 $26,740,012
Income Before Taxes, Net Gain (Loss) on Sale of Assets 17,698,951 16,294,007
Provisions for Taxes (3,019,056) (3,009,483)
Net Gain on Sale of Assets - 31
Net Income from Operating Activities $14,679,895 $13,284,555
Changes in Market Value of Certain Assets
Market Value Changes on Equity Securities 5,878,527 6,108,966
Tax Cost related to Market Value Changes (1,349,090) (1,225,550)
Market Value Change Net of Taxes 4,529,437 4,883,416
Net Income $19,209,332 $18,167,971