2009 Annual Report

[2010 Six Month Statement] [2009 Executive Summary] [2009 Statement of Income] [2009 Statement of Condition]

COMPARATIVE STATEMENT OF INCOME

Bath Savings Institution & Subsidiary

For The Years Ended December 31, 2009 and 2008
2009
2008

Interest & Dividend Income

Interest & Fees on Loans

$19,604,832

$22,165,018

Interest & Dividends on Investments

5,093,666

4,807,408

Interest on Federal Funds Sold

11,752

78,699
Total Interest & Dividend Income

24,710,250

$27,051,125

Interest Expense

6,895,208

10,633,074
Net Interest Margin

17,815,042

16,418,051

Other Income

5,449,082

3,256,791

Operating Expenses

Compensation & Employee Benefits

8,396,930

7,845,514

Expense of Premises & Fixed Assets

2,684,130

2,620,974

Provision for Loan Losses

2,064,714

749,690

FDIC and Other Insurance

719,627

338,825

Other Operating Expenses

3,436,537

3,069,246
Total Operating Expenses

$17,301,938

$14,624,249

Income Before Taxes, Net Gain (Loss) on Sale of Assets

5,962,186

5,050,593

Provisions for Taxes

1,627,823

1,581,262

Net Gain (Loss) on Sale of Assets

132,695

451,855
Net Income

$4,467,058

$3,921,186