202,447 33,711 236,158 Interest Income: 2021 2020 Interest on loans to members 196,668 Interest on securities & 42,924 cash equivalents Total Interest Income 239,592 Interest Expense: 52,101 184,057 16,276 167,781 Dividends on member accounts 79,279 Net interest income 160,313 Provision for loan losses 29,606 Net Interest Income After Provision 130,707 For Loan Losses Non-Interest 74,838 242,619 80,878 211,585 Non-interest income Total Income Non-Interest Expense: 71,572 12,812 18,973 10,672 7,443 16,980 83,992 138,452 13,529 21,627 16,398 8,088 13,696 157,330 Compensation & benefts Ofce occupancy Ofce operations Professional & outside services Credit/debit card & share draft program expenses Other Total Non-Interest Expense Net Income $85,289 $73,133 STATEMENT OF INCOME DECEMBER 31, 2021 AND 2020 (DOLLARS IN THOUSANDS)
