2007 Annual Report

[2008 Six Month Letter] [2008 Six Month Statement] [2007 Executive Summary] [2007 Statement of Income] [2007 Statement of Condition]

COMPARATIVE STATEMENT OF INCOME

Bath Savings Institution & Subsidiary

For The Years Ended December 31, 2007 and 2006
2007
2006

Interest and Dividend Income

Interest & Fees on Loans

$21,754,292

$18,938,655

Interest & Dividends on Investments

4,736,536

3,979,386

Interest on Federal Funds Sold

167,176

229,454
Total Interest & Dividend Income

$26,658,004

$23,147,495

Interest Expense

12,717,680

9,551,322
Net Interest Margin

13,940,324

13,596,173

Other Income

3,373,235

3,455,676

Operating Expenses

Compensation and Employee Benefits

7,481,137

7,086,735

Expense of Premises and Fixed Assets

2,537,209

2,282,618

Provision for Loan Losses

384,000

472,000

Other Operating Expenses

3,016,329

2,865,489
Total Operating Expenses

$13,418,675

$12,706,842

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

3,894,884

4,345,007

Provisions for Taxes

1,302,771

1,476,992

Net Gain (Loss) on Sale of Assets

330,500

230,802
Net Income

$2,922,613

$3,098,817