YEARS ENDED DECEMBER 31, 2020 AND 2019 (DOLLARS IN THOUSANDS) Interest Income: Interest on loans to members Interest on securities & cash equivalents Total Interest Income 185,597 52,880 238,477 2020 2019 196,668 42,924 239,592 Interest Expense: Dividends on members’ accounts Net interest income Provision for loan losses Net interest income after provision for loan losses 79,279 160,313 29,606 130,707 91,388 147,088 4,275 142,813 Non-Interest Income: Non-Interest income Total Income 80,878 211,585 44,347 187,160 Non-Interest Expense: Compensation & benefits Office occupancy Office operations Professional & outside services Credit/Debit card & share draft program expenses Other Total Non-Interest Expense Net Income 66,024 12,422 16,515 2,597 7,105 30,488 135,150 $52,010 71,572 12,812 18,973 10,672 7,443 16,980 138,452 $73,133 STATEMENT OF INCOME
