Coastal Carolina Bancshares : CCNB Income Statement (Unaudited) 6.30.2022

Coastal Carolina Bancshares, Inc.

Consolidated Company

Income Statement

(UNAUDITED)

		Consolidated
		Six Months Ended		Six Months Ended
		June 30, 2022		June 30, 2021
Interest income
Loans	$	11,157,200	$	10,478,124
Securities		1,167,120		778,875
Federal funds sold & other interest-bearing deposits		318,256		61,782
Total interest income		12,642,576		11,318,781
Interest expense
Deposits:
Interest checking		185,541		152,403
Money market		422,197		441,210
Savings		10,375		11,697
Certificates of deposit		189,628		591,177
Borrowings		417,521		293,750
Total interest expense		1,225,263		1,490,237
Net interest income		11,417,313		9,828,544
Provision for loan losses		525,000		469,000
Net interest income after provision for loan losses		10,892,313		9,359,544
Noninterest income
Service charges on deposits		64,657		52,425
NSF fees		55,874		45,536
Mortgage loans sold		541,123		2,078,680
ATM, debit, and merchant fees		323,379		252,724
Equity in income (loss) of subsidiary		-		-
Gain on sales of securities, net		(129)		-
Bank owned life insurance		142,713		82,975
Other income		81,504		243,414
Total noninterest income		1,209,120		2,755,754
Noninterest expense
Salaries		4,481,664		4,467,606
Benefits		632,760		499,409
Payroll taxes		302,839		276,844
Total compensation expense		5,417,262		5,243,859
Occupancy expense		685,772		721,219
Depreciation and amortization		307,849		384,952
Total occupancy and depreciation expense		993,621		1,106,171
Data processing		918,633		883,226
Marketing and customer development		300,638		259,685
Professional services		247,993		213,451
Postage and supplies		61,920		70,619
Corporate insurance		14,185		19,573
Telecommunications		73,700		80,322
FDIC insurance and regulatory assessments		293,026		284,906
Shareholder relations		32,202		30,232
Core, time deposit intangible amortization		29,142		35,492
Other		244,287		202,087
Total noninterest expense		8,626,609		8,429,622
Income (loss) before taxes		3,474,824		3,685,677
Income taxes		615,597		764,881
Net income (loss)	$	2,859,227	$	2,920,796