EX-99.2 4 a08-19419_1ex99d2.htm EX-99.2

Exhibit 99.2

 

TOWER BANCORP INC.

CONSOLIDATED INCOME STATEMENT

(UNAUDITED)

 

 

 

SIX

 

SIX

 

 

 

MONTHS

 

MONTHS

 

 

 

06-30-08

 

06-30-07

 

INTEREST INCOME

 

 

 

 

 

INTEREST AND FEES ON LOANS

 

$

13,922,950

 

$

13,982,969

 

INTEREST ON INVESTMENT SECURITIES

 

1,855,932

 

1,468,197

 

INTEREST ON FED FUNDS SOLD

 

245,081

 

1,025,494

 

 

 

$

16,023,963

 

$

16,476,660

 

INTEREST EXPENSE

 

 

 

 

 

INTEREST ON DEPOSITS

 

4,587,764

 

5,959,907

 

INTEREST ON OTHER BORROWED MONEY

 

1,053,383

 

1,021,898

 

 

 

$

5,641,147

 

$

6,981,805

 

NET INTEREST INCOME

 

$

10,382,816

 

$

9,494,855

 

PROVISION FOR LOAN LOSSES

 

550,000

 

300,000

 

NET INTEREST INCOME AFTER PROVISION

 

$

9,832,816

 

$

9,194,855

 

OTHER INCOME:

 

 

 

 

 

INVESTMENT SERVICES & FEE INCOME

 

1,927,772

 

1,894,984

 

OTHER OPERATING INCOME

 

215,753

 

338,695

 

INVESTMENT SECURITIES GAINS (LOSSES)

 

723,663

 

1,689,366

 

 

 

$

2,867,188

 

$

3,923,045

 

OTHER EXPENSES:

 

 

 

 

 

SALARIES,WAGES AND OTHER BENEFITS

 

$

4,293,549

 

$

4,158,153

 

OCCUPANCY EXPENSE

 

554,104

 

524,442

 

FURNITURE AND FIXTURE EXPENSE

 

1,457,588

 

1,300,475

 

OTHER OPERATING EXPENSES

 

2,302,899

 

2,187,396

 

 

 

$

8,608,140

 

$

8,170,466

 

INCOME BEFORE TAXES

 

$

4,091,864

 

$

4,947,434

 

APPLICABLE INCOME TAXES

 

1,009,981

 

1,265,265

 

 

 

 

 

 

 

NET INCOME

 

$

3,081,883

 

$

3,682,169

 

 

 

 

 

 

 

NET INCOME PER SHARE:

 

$

1.46

 

$

1.56

 

 

 

 

 

 

 

NUMBER OF SHARES OUTSTANDING

 

2,315,793

 

2,342,170