EX-99.2 4 a08-26456_1ex99d2.htm EX-99.2

Exhibit 99.2

 

TOWER BANCORP INC.

CONSOLIDATED INCOME STATEMENT

(UNAUDITED)

 

 

 

NINE

 

NINE

 

 

 

MONTHS

 

MONTHS

 

 

 

9/30/2008

 

9/30/2007

 

INTEREST INCOME

 

 

 

 

 

 

 

 

 

 

 

INTEREST AND FEES ON LOANS

 

$

20,603,770

 

$

21,216,256

 

INTEREST ON INVESTMENT SECURITIES

 

2,822,610

 

2,157,634

 

INTEREST ON FED FUNDS SOLD

 

257,874

 

1,590,365

 

 

 

$

23,684,254

 

$

24,964,255

 

 

 

 

 

 

 

INTEREST EXPENSE

 

 

 

 

 

 

 

 

 

 

 

INTEREST ON DEPOSITS

 

6,466,143

 

9,055,634

 

INTEREST ON OTHER BORROWED MONEY

 

1,581,725

 

1,519,909

 

 

 

$

8,047,868

 

$

10,575,543

 

NET INTEREST INCOME

 

$

15,636,386

 

$

14,388,712

 

PROVISION FOR LOAN LOSSES

 

1,075,000

 

450,000

 

NET INTEREST INCOME AFTER PROVISION

 

$

14,561,386

 

$

13,938,712

 

 

 

 

 

 

 

OTHER INCOME:

 

 

 

 

 

INVESTMENT SERVICES & FEE INCOME

 

$

2,860,463

 

$

3,227,777

 

OTHER OPERATING INCOME

 

343,367

 

440,171

 

INVESTMENT SECURITIES GAINS (LOSSES)

 

323,512

 

1,860,895

 

 

 

$

3,527,342

 

$

5,528,843

 

 

 

 

 

 

 

OTHER EXPENSES:

 

 

 

 

 

SALARIES,WAGES AND OTHER BENEFITS

 

$

6,367,704

 

$

6,122,858

 

OCCUPANCY EXPENSE

 

846,835

 

788,008

 

FURNITURE AND FIXTURE EXPENSE

 

2,194,100

 

1,926,226

 

OTHER OPERATING EXPENSES

 

3,534,239

 

3,180,800

 

 

 

$

12,942,878

 

$

12,017,892

 

INCOME BEFORE TAXES

 

$

5,145,850

 

$

7,449,663

 

APPLICABLE INCOME TAXES

 

1,160,491

 

1,949,493

 

NET INCOME

 

$

3,985,359

 

$

5,500,170

 

 

 

 

 

 

 

NET INCOME PER SHARE:

 

$

1.72

 

$

2.34

 

 

 

 

 

 

 

NUMBER OF SHARES OUTSTANDING

 

2,315,055

 

2,337,577