CITYSTATE SAVINGS BANK, INC.
STATEMENTS OF INCOME
For six months ended June 30, 2003
(With
Comparative Figures for the Six Months ended June
30, 2002) |
| |
2003
(Unaudited) |
2002
(Audited) |
| INTEREST
INCOME ON |
| Receivables from customers
|
P 38,766,505
|
P 30,233,209 |
| Investments |
863,479 |
3,826,672 |
| Deposits |
14,955,825 |
10,992,057 |
| |
54,585,808 |
45,051,938 |
| |
| INTEREST EXPENSE
ON DEPOSIT LIABILITIES |
11,194,288 |
9,954,208 |
| NET INTEREST INCOME
|
43,391,520 |
35,097,731 |
| PROVISION FOR PROBABLE
LOSSES |
-
|
-
|
| NET INTEREST INCOME
AFTER PROVISION FOR PROBABLE LOSSES |
43,391,520 |
35,097,731 |
| |
| OTHER
INCOME |
| Bank Commision |
79,534 |
|
| Service charges and
fees |
8,379,441 |
9,396,929 |
| Others |
7,329,131 |
5,768,296 |
| |
| |
15,788,105 |
15,165,224 |
| |
| OTHER
EXPENSES |
| Compensation and employee
benefits |
15,651,853 |
13,408,047 |
| Occupancy |
6,405,045 |
7,618,171 |
| Security, janitorial,
messengerial services |
3,197,987 |
2,781,085 |
| Amortization of deferred
charges |
1,437,479 |
1,844,714 |
| Taxes and licenses
|
2,980,067 |
3,278,194 |
| Representation and
entertainment |
1,241,385 |
1,746,747 |
| Litigation/assets
acquired |
1,321,208 |
495,353 |
| Other operating expenses
|
10,485,259 |
9,286,078 |
| |
42,720,283 |
40,458,390 |
| |
| INCOME BEFORE TAX
|
16,459,342 |
9,804,565 |
| |
| INCOME TAX EXPENSE
(BENEFIT) |
250,852
|
1,143,113
|
| |
|
|
| NET INCOME (LOSS) |
P 16,208,490 |
P
8,661,452 |
| |
|
