| Income Statement for Washington Banking Company (WBCO) | | | | | | | Income | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | Total Interest Income | 62,368 | 55,443 | 45,790 | 38,464 | 36,598 | | Total Interest Expense | (24,810) | (18,441) | (11,566) | (8,882) | (8,768) | | Net Interest Income | 37,558 | 37,002 | 34,224 | 29,582 | 27,830 | | Loan Loss Provision | (3,000) | (2,675) | (2,250) | (3,500) | (3,200) | | Net Interest Income After Loan Loss Provision | 34,558 | 34,327 | 31,974 | 26,082 | 24,630 | | Non-Interest Income | 7,490 | 6,992 | 7,299 | 6,716 | 6,969 | | Non-Interest Expense | (27,958) | (27,530) | (25,225) | (23,267) | (22,903) | | Special Income/Charges | (513) | - | - | - | - | | Net Income Before Taxes | 13,577 | 13,789 | 14,048 | 9,531 | 8,696 | | Premium Tax (Credit) | - | - | - | - | - | | Minority Interest | - | - | - | - | - | | Income Taxes | (4,179) | (4,298) | (4,580) | (2,985) | (2,729) | | Net Income from Continuing Operations | 9,398 | 9,491 | 9,468 | 6,546 | 5,967 | | Net Income from Discontinued Operations | - | - | - | (370) | - | | Net Income from Total Operations | 9,398 | 9,491 | 9,468 | 6,176 | 5,967 | | Extraordinary Income/Loss | - | - | - | - | - | | Income from Cum. Effect of Acct Change | - | - | - | - | - | | Income from Tax Loss Carryforward | - | - | - | - | - | | Other Gains | - | - | - | - | - | | Total Net Income | 9,398 | 9,491 | 9,468 | 6,176 | 5,967 | | | Results | in Dollars (Preferred Dividends in Thousands) | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Dividends Paid Per Share | 0.23 | 0.20 | 0.16 | 0.17 | 0.17 | | Preferred Dividends | - | - | - | - | - | | | Basic EPS from Continuing Operations | 1.00 | 1.03 | 1.04 | 0.73 | 0.67 | | Basic EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | -0.04 | 0.00 | | Basic EPS from Total Operations | 1.00 | 1.03 | 1.04 | 0.69 | 0.67 | | Basic EPS from Extraordinary Inc | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Basic EPS from Cum. Effect of Acct Chg | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Basic EPS from Tax Loss Carryforward | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Basic EPS from Other Gains(Loss) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Basic EPS, Total | 1.00 | 1.03 | 1.04 | 0.69 | 0.67 | | | Basic Normalized Net Income/Share | 1.05 | 1.03 | 1.04 | 0.73 | 0.67 | | | Diluted EPS from Continuing Operations | 0.99 | 1.00 | 1.01 | 0.70 | 0.65 | | Diluted EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | -0.04 | 0.00 | | Diluted EPS from Total Operations | 0.99 | 1.00 | 1.01 | 0.66 | 0.65 | | Diluted EPS from Extraordinary Inc | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Diluted EPS from Cum. Effect of Acct Chg | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Diluted EPS from Tax Loss Carryforward | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Diluted EPS from Other Gains(Loss) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Diluted EPS, Total | 0.99 | 1.00 | 1.01 | 0.66 | 0.65 | | | Diluted Normalized Net Income/Share | 1.04 | 1.00 | 1.01 | 0.70 | 0.65 | | | |
