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 $ $6,8000$

Investment securities $30,0008$

Repurchase agreements $20,0006$

Loans less allowance for losses $88,00010$

Fixed assets $18,0000$

Other earning assets $5,0009$

Total assets $ $167,800$

Liabilities and Equity Rate Paid $(\%)$

Demand deposits $ $17,0000$

NOW accounts $77,0005$

Retail CDs $26,0007$

Subordinated debentures $22,0008$

Total liabilities $142,000$

Common stock $18,000$

Paid$-$in capital surplus $3,800$

Retained earnings $4,000$

Total liabilities and equity $ $167,800$

If the bank earns $$128,000$ in noninterest income, incurs $$88,000$ in noninterest expenses, and pays $$2,580,000$ in taxes, what is its net income? $($Enter your answer in dollars, not thousands of dollars.$)$