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Income Statement

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REPUBLIC FIRST BANCORP, INC. (NASDAQ - FRBK)  
 2013 Y2014 Y2015 Y2016 Y2017 Q2 YTD
Source Document12/31/201512/31/201612/31/201612/31/20166/30/2017
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
Interest income 
Interest and fees on taxable loans 31,98634,53037,24140,82723,010
Interest and fees on tax-exempt loans 349339540960519
Interest and dividends on taxable investment securities 4,4355,0536,79211,2649,510
Interest and dividends on tax-exempt investment securities 250364585703348
Interest on federal funds sold and other interest-earning assets 185187278473131
Total interest income 37,20540,47345,43654,22733,518
Interest expense 
Demand- interest bearing 8258881,4012,0881,303
Money market and savings 1,7861,9292,1702,6391,430
Time deposits 867719695942591
Other borrowings 1,1121,1081,1151,194708
Total interest expense 4,5904,6445,3816,8634,032
Net interest income 32,61535,82940,05547,36429,486
Provision for loan losses 4,9359005001,557500
Net interest income after provision for loan losses 27,68034,92939,55545,80728,986
Non-interest income 
Loan advisory and servicing fees 1,6151,4522,2261,627653
Mortgage banking income NA005,0625,392
Gain on sales of SBA loans 5,3384,7173,1394,9811,484
Service fees on deposit accounts 1,0461,2241,7202,6581,753
Legal settlements 23802,5500NA
Gain (loss) on sale of investment securities 703458108656(61)
Other-than-temporary impairment 0NANANANA
Portion recognized in other comprehensive income (before taxes) 0NANANANA
Net securities impairment recognized in earnings 0(7)(3)(7)0
Bank owned life insurance income 13NANANANA
Other non-interest income 26317320333586
Total non-interest income 9,2168,0179,94315,3129,307
Non-interest expenses 
Salaries and employee benefits 17,06420,08922,48828,60217,971
Occupancy 3,6354,2474,9296,1093,467
Depreciation and amortization 2,1052,3823,0803,5182,296
Legal 1,8781,290915459379
Other real estate owned 3,1791,7944,2392,182958
Advertising 447597627811467
Data processing 1,0001,3451,5932,4081,550
Insurance 625586720962473
Professional fees 1,4201,4681,2681,580935
Regulatory assessments and costs 1,2571,0651,2481,413653
Taxes, other 557616689366474
Legal settlements 1,875NANANANA
Other operating expenses 5,3695,0715,2957,8834,866
Total non-interest expense 40,41140,55047,09156,29334,489
Income before benefit for income taxes (3,515)2,3962,4074,8263,804
Benefit for income taxes (35)(46)(26)(119)(42)
Net income (3,480)2,4422,4334,9453,846
Net income per share 
Basic (0.13)0.070.060.130.07
Diluted (0.13)0.070.060.120.07
Consolidated Statements of Comprehensive Income 
Net income (3,480)2,4422,4334,9453,846
Other comprehensive income, net of tax 
Unrealized gain on securities (3,398)3,199(2,577)(3,853)1,681
Reclassification adjustment for securities losses/(gains) (450)(293)(69)(420)39
Reclassification adjustment for impairment charge 04240
Net unrealized gains on securities (3,848)2,910(2,644)(4,269)1,720
Net unrealized holding losses on securities transferred from available-for-sale to held-to-maturity 
Net unrealized holding losses on securities transferred from available-for-sale to held-to-maturity 0(790)00NA
Amortization of net unrealized holding losses to income during the period 07611114055
Total other comprehensive income (3,848)2,196(2,533)(4,129)1,775
Total comprehensive income (7,328)4,638(100)8165,621


Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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