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STATEMENT OFFINANCIAL EARNINGS14 2022 2023 2024INTEREST INCOME:Interest from Loans $8,350,900 $12,817,446 $14,755,780Interest from Investments $1,285,510 $1,458,865 $1,439,952Total Interest Income $9,636,410 $14,276,311 $16,195,732INTEREST EXPENSE:Dividends $934,807 $2,364,970 $4,016,302Interest on Borrowings $331,096 $2,379,825 $1,901,026Total Interest Expense $1,265,903 $4,744,795 $5,917,328Net Interest Margin $8,370,507 $9,531,516 $10,278,404Provision for Loan Loss $386,520 $1,053,142 $1,464,366NET INTEREST INCOME:After Provision for Loan Loss $7,983,987 $8,478,374 $8,814,038NON-INTEREST INCOME:Other Fee & Operating Income $5,805,412 $4,952,905 $5,219,644 Non-Operating Income $156,672 $127,732 $201,467 OPERATING EXPENSES:Comp & Benefits $6,406,442 $7,008,448 $6,949,128Office Ops & Overhead $7,405,811 $8,205,746 $8,273,333Member Insurance $0 $0 $0Federal & State Fees $49,128 $50,498 $62,702Operating Expenses $77,369 $105,169 $89,404NON-INTEREST EXPENSES:Total $13,938,750 $15,369,861 $15,374,567NET INCOME:Total $7,321 -$1,810,850 -$1,139,418