NWSB Annual Report 2025 | Page 57

NEW INDEPENDENT BANCSHARES, INC. AND SUBSIDIARY
Consolidating Schedule- Statements of Income For the Year Ended December 31, 2025
The New
New Independent
New Independent
Washington
Title and
New Independent
Bancshares, Inc.
State Bank
Insurance Co.
Investments, Inc.
Eliminations
Consolidated
Interest Income Interest and Fees on Loans
$
-
$
28,079,824
$
-
$
-
$
-
$
28,079,824
Interest and Dividends on Invest.
-
1,485,157
-
2,587,702
-
4,072,859
Other Interest
-
1,395,233
-
56,350
-
1,451,583
Total Interest Income- 30,960,214- 2,644,052- 33,604,266
Interest Expense
Interest on Deposits
-
11,095,898
-
-
-
11,095,898
Interest on Borrowings
337,500
1,496
-
-
-
338,996
Total Interest Expense 337,500 11,097,394--- 11,434,894
Net Interest Income( 337,500) 19,862,820- 2,644,052- 22,169,372 Provision for Credit Losses- 859,000--- 859,000
Net Interest Income After Provision( 337,500) 19,003,820- 2,644,052- 21,310,372 Noninterest Income
Earnings of Subsidiary
4,232,691
2,171,304
-
-
( 6,403,995)
-
Service Charges on Deposits
-
747,647
-
-
-
747,647
Card and Processing Revenue
-
1,433,249
-
-
-
1,433,249
Title Company Income
-
-
131,437
-
-
131,437
BOLI Income
-
643,705
-
-
-
643,705
Gain on Sale of Premises & Equipment
-
9,612
-
-
-
9,612
Other Operating Income
-
301,972
-
-
( 6,000)
295,972
Total Noninterest Income 4,232,691 5,307,489 131,437-( 6,409,995) 3,261,622
Noninterest Expenses Salaries and Employee Benefits
-
9,386,323
-
-
54,222
9,440,545
Occupancy Expenses
-
1,456,901
-
-
-
1,456,901
Equipment Expenses
-
960,296
-
-
-
960,296
Postage and Supplies
-
365,575
-
-
-
365,575
FDIC Insurance
-
421,257
-
-
-
421,257
Data Processing Costs
-
669,138
-
-
-
669,138
Advertising
-
282,937
-
-
-
282,937
Visa Expense
-
942,635
-
-
-
942,635
Examination Fees
-
442,057
-
-
-
442,057
Telephone Expense
-
325,584
-
-
-
325,584
Committee and Directors ' Fees
-
389,232
-
-
-
389,232
Dealer Loan Expense
-
432,650
-
-
-
432,650
Professional Fees
-
1,072,553
-
-
-
1,072,553
Merger-Related Transaction Costs
905,550
-
-
-
-
905,550
Post-Merger Integration Costs
-
681,519
-
-
-
681,519
Other Operating Expenses
108,293
1,345,529
69,974
105,730
( 60,222)
1,569,304
Total Noninterest Expenses 1,013,843 19,174,186 69,974 105,730( 6,000) 20,357,733
Net Income Before Income Tax 2,881,348 5,137,123 61,463 2,538,322( 6,403,995) 4,214,261
Income Taxes
Federal Income Tax
184,545
( 219,748)
-
( 428,481)
-
( 463,684)
State Income Tax
35,854
( 684,684)
-
-
-
( 648,830)
Net Income $ 3,101,747 $ 4,232,691 $ 61,463 $ 2,109,841 $( 6,403,995) $ 3,101,747
See accompanying notes.
2025 NWSB Annual Report | 57