Smallville Bank has the following balance sheet, rates earned on its assets, and rates paid on its liabilities.

Balance Sheet (in thousands) Assets Rate Earned (%) Cash and due from banks $ 7,700 0 Investment securities 39,000 7 Repurchase agreements 29,000 5 Loans less allowance for losses 97,000 9 Fixed assets 27,000 0 Other earning assets 5,000 8 Total assets $ 204,700 Liabilities and Equity Rate Paid (%) Demand deposits $ 15,000 0 NOW accounts 86,000 4 Retail CDs 35,000 6 Subordinated debentures 31,000 7 Total liabilities 167,000 Common stock 20,000 Paid-in capital surplus 4,700 Retained earnings 13,000 Total liabilities and equity $ 204,700

If the bank earns $137,000 in noninterest income, incurs $97,000 in noninterest expenses, and pays $2,670,000 in taxes,

what is its net income? (Enter your answer in dollars, not thousands of dollars.)