Along with the Report of Condition submitted above, Norfolk has also prepared a Report of Income for
Question:
Report of Income
Total interest income................... $200
Total interest expense................... ?
Net interest income................... .. 60
Provision for loan and lease losses................ ?
Total noninterest income................... 100
Fiduciary activities................... 20
Service charges on deposit accounts............. 25
Trading account gains and fees................. ?
Additional noninterest income.................. 30
Total noninterest expense................... 125
Salaries and employee benefits................. ?
Premises and equipment expense................. 10
Additional noninterest expense................. 20
Pretax net operating income................... 15
Securities gains (losses) ................... 5
Applicable income taxes................... 3
Income before extraordinary items................ ?
Extraordinary gains—net................... 2
Net income................... ?
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Related Book For
Bank Management and Financial Services
ISBN: 978-0078034671
9th edition
Authors: Peter Rose, Sylvia Hudgins
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