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Smallville Bank has the following balance sheet, rates earned on its assets, and rates paid on its liabilities. Rate Earned (%) Balance Sheet (in thousands)
Smallville Bank has the following balance sheet, rates earned on its assets, and rates paid on its liabilities. Rate Earned (%) Balance Sheet (in thousands) Assets Cash and due from banks $ 6, Investment securities 22,000 Repurchase agreements 12.ee Loans less allowance for losses 80, eee Fixed assets 16,eee Other earning assets 4.eee Total assets $134, eee Liabilities and Equity Demand deposits $ 9,000 NOW accounts 69, cee Retail CDs 18,000 Subordinated debentures 14.eee Total liabilities 110, eee Common stock 10,000 Paid-in capital surplus 3.ee Retained earnings Total liabilities and equity $134,000 Rate Paid (%) 11,000 If the bank earns $120,000 in noninterest income, incurs $80,000 in noninterest expenses, and pays $2,500,000 in taxes, what is its net income? (Enter your answer in dollars, not thousands of dollars.) Check my w 10,eee 4,89 $134,000 Rate Paid (X Fixed assets Other earning assets Total assets Liabilities and Equity Demand deposits NOW accounts Retail CDs Subordinated debentures Total liabilities Common stock Paid-in capital surplus Retained earnings Total liabilities and equity $ 9, eee 69, eee 18, eee 14,000 110,000 10,000 3, eee 11,000 $134,000 If the bank earns $120,000 in noninterest income, Incurs $80,000 in noninterest expenses, and pays $2,500,000 in taxes, what is its net income? (Enter your answer in dollars, not thousands of dollars.) Net income s 52,900,000
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