Annual Report 2017 | Page 18

CONSOLIDATED STATEMENTS OF INCOME FCS Financial, ACA (in thousands) For the year ended December 31 2017 2016 2015 $156,490 62,782 $143,760 53,717 $130,781 44,095 93,708 -- 90,043 1,000 86,686 500 93,708 89,043 86,186 19,180 4,261 2,587 371 13,438 4,161 3,559 (262) 11,736 4,259 3,831 523 26,399 20,896 20,349 Operating expenses Salaries and employee benefits Other operating expenses 27,992 19,999 28,237 19,116 28,850 17,094 Total operating expenses 47,991 47,353 45,944 Income before income taxes 72,116 62,586 60,591 Provision for income taxes 1,974 1,020 8 $70,142 $61,566 $60,583 Interest income Interest expense Net interest income Provision for loan losses Net interest income after provision for loan losses Other income Patronage income Financially related services income Fee income Miscellaneous income (loss), net Total other income Net income The accompanying notes are an integral part of these Consolidated Financial Statements. 16