Inc. The business of the Company's subsidiaries consists primarily of attracting deposit accounts from the general public and originating commercial, residential, installment and other loans. The Banks' principal sources of income are interest on loans, loan origination fees, fees on deposit accounts and interest and dividends on investment securities. The principal expenses are interest on deposits, FHLB advances, and repurchase agreements, as well as general and administrative expenses. Net interest income reflects an increase in loans, partially offset by higher deposits.
Net income reflects non-recurring charges related to the merger and conversion expenses.
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