Content analysis
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H.S. freshman Bad
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New words:
agricultural, American, announced, arrangement, Bancorp, clarification, clarified, Codification, commenced, commencement, commensurate, committed, compensation, complexity, complying, detailed, Easement, entered, exercise, Expedient, expiration, finance, financing, free, GABC, German, implicit, inception, inclusive, incremental, Land, legislation, lessor, merge, merged, merger, NASDAQ, NOL, optional, package, preceding, professional, reassessment, remaining, rent, Rental, retroactively, revised, ROU, shorted, Targeted, trading, transition, underlying, vote
Removed:
accounted, application, arise, brokerage, card, collectively, comparability, comparison, convertible, cumulative, debit, dilutive, fall, ii, immateriality, implement, interchange, newly, nonfinancial, opening, percent, pool, reclassification, recognizing, retained, revenue, shorten, stranded, subsequent, transparency
Financial report summary
?Management Discussion
- For the quarter ended March 31, 2019, we reported net income of $1.12 million or $0.44 per diluted common share, compared to net income of $1.08 million, or $0.43 per diluted common share in the first quarter of 2018, an increase of $35,000 or 3.2%. The increase in net income is attributable primarily to an increase in non-interest income of $22,000 and a reduction in income tax expense of $63,000. This was offset by a decrease in net interest income of $57,000 and an increase in non-interest expense of $23,000.
- Our annualized return on average assets, defined as net income divided by average assets, was 0.97% for the quarter ended March 31, 2019, compared to 0.92% for the quarter ended March 31, 2018. Our annualized return on average equity, defined as net income divided by average equity, was 9.00% for the quarter ended March 31, 2019, compared to 9.55% for the quarter ended March 31, 2018.
- Net interest income, our principal source of earnings, is the difference between the interest income generated by earning assets, such as loans and securities, and the total interest cost of the deposits and borrowings obtained to fund these assets. Factors that influence the level of net interest income include the volume of earning assets and interest bearing liabilities, yields earned and rates paid, the level of non-performing loans and non-earning assets, and the amount of non-interest bearing deposits supporting earning assets.