Annual Report 2018 - Page 18

CONSOLIDATED STATEMENTS OF INCOME FCS Financial, ACA (in thousands) 2018 2017 2016 $178,403 79,370 $156,490 62,782 $143,760 53,717 99,033 93,708 90,043 -- -- 1,000 99,033 93,708 89,043 20,712 4,216 2,575 2,136 187 19,180 4,261 2,587 -- 371 13,438 4,161 3,559 -- (262) 29,826 26,399 20,896 Operating expenses Salaries and employee benefits Other operating expenses 27,962 19,048 27,992 19,999 28,237 19,116 Total operating expenses 47,010 47,991 47,353 Income before income taxes 81,849 72,116 62,586 For the year ended December 31 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 Allocated Insurance Reserve Accounts distribution Miscellaneous income (loss), net Total other income Provision for income taxes Net income The accompanying notes are an integral part of these Consolidated Financial Statements. 15 128 1,974 1,020 $81,721 $70,142 $61,566