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Income Statement

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REPUBLIC FIRST BANCORP, INC. (NASDAQ - FRBK)  
 2013 Y2014 Y2015 Y2016 Y
Source Document12/31/201512/31/201612/31/201612/31/2016
Currency CodeUSDUSDUSDUSD
(in thousands)    
     
Interest income 
Interest and fees on taxable loans 31,98634,53037,24140,827
Interest and fees on tax-exempt loans 349339540960
Interest and dividends on taxable investment securities 4,4355,0536,79211,264
Interest and dividends on tax-exempt investment securities 250364585703
Interest on federal funds sold and other interest-earning assets 185187278473
Total interest income 37,20540,47345,43654,227
Interest expense 
Demand- interest bearing 8258881,4012,088
Money market and savings 1,7861,9292,1702,639
Time deposits 867719695942
Other borrowings 1,1121,1081,1151,194
Total interest expense 4,5904,6445,3816,863
Net interest income 32,61535,82940,05547,364
Provision for loan losses 4,9359005001,557
Net interest income after provision for loan losses 27,68034,92939,55545,807
Non-interest income 
Loan advisory and servicing fees 1,6151,4522,2261,627
Mortgage banking income NA005,062
Gain on sales of SBA loans 5,3384,7173,1394,981
Service fees on deposit accounts 1,0461,2241,7202,658
Legal settlements 23802,5500
Gain on sale of investment securities 703458108656
Other-than-temporary impairment 0NANANA
Portion recognized in other comprehensive income (before taxes) 0NANANA
Net securities impairment losses recognized in earnings 0(7)(3)(7)
Bank owned life insurance income 13NANANA
Other non-interest income 263173203335
Total non-interest income 9,2168,0179,94315,312
Non-interest expenses 
Salaries and employee benefits 17,06420,08922,48828,602
Occupancy 3,6354,2474,9296,109
Depreciation and amortization 2,1052,3823,0803,518
Legal 1,8781,290915459
Other real estate owned 3,1791,7944,2392,182
Advertising 447597627811
Data processing 1,0001,3451,5932,408
Insurance 625586720962
Professional fees 1,4201,4681,2681,580
Regulatory assessments and costs 1,2571,0651,2481,413
Taxes, other 557616689366
Legal settlements 1,875NANANA
Other operating expenses 5,3695,0715,2957,883
Total non-interest expense 40,41140,55047,09156,293
Income before benefit for income taxes (3,515)2,3962,4074,826
Benefit for income taxes (35)(46)(26)(119)
Net income (3,480)2,4422,4334,945
Net income per share 
Basic (0.13)0.070.060.13
Diluted (0.13)0.070.060.12
Consolidated Statements of Comprehensive Income (Loss) 
Net income (3,480)2,4422,4334,945
Other comprehensive income (loss), net of tax 
Unrealized gain (loss) on securities (3,398)3,199(2,577)(3,853)
Reclassification adjustment for securities gains (450)(293)(69)(420)
Reclassification adjustment for impairment charge 0424
Net unrealized gains (losses) on securities (3,848)2,910(2,644)(4,269)
Net unrealized holding losses on securities transferred from available-for-sale to held-to-maturity 0(790)00
Amortization of net unrealized holding losses during the period 076111140
Total other comprehensive income (loss) (3,848)2,196(2,533)(4,129)
Total comprehensive income (loss) (7,328)4,638(100)816


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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