Level One Bancorp, Inc. (LEVL) Financial Statements (2024 and earlier)

Company Profile

Business Address 32991 HAMILTON COURT
FARMINGTON HILLS, MI 48334
State of Incorp. MI
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments264,071103,93033,296
Cash and cash equivalents264,071103,93033,296
Total current assets:264,071103,93033,296
Noncurrent Assets
Property, plant and equipment15,83413,83813,242
Intangible assets, net (including goodwill)42,1119,7639,834
Goodwill35,5549,3879,387
Intangible assets, net (excluding goodwill)6,557376447
Deferred income tax assets3,6861,217
Total noncurrent assets:61,63124,81823,076
Other undisclosed assets2,117,2801,456,1511,359,843
TOTAL ASSETS:2,442,9821,584,8991,416,215
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt3,20465,85198,129
Total current liabilities:3,20465,85198,129
Noncurrent Liabilities
Long-term debt and lease obligation181,000  
Long-term debt, excluding current maturities181,000  
Total noncurrent liabilities:181,000  
Other undisclosed liabilities2,043,4511,348,3451,166,326
Total liabilities:2,227,6551,414,1961,264,455
Equity
Equity, attributable to parent215,327170,703151,760
Preferred stock23,372  
Common stock87,61589,34590,621
Accumulated other comprehensive income (loss)8,1823,592(1,752)
Retained earnings96,15877,76662,891
Total equity:215,327170,703151,760
TOTAL LIABILITIES AND EQUITY:2,442,9821,584,8991,416,215

Income Statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues84,50171,62263,753
Net investment income82,63970,44863,824
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
 (11,872)(1,383)(412)
Gross profit:72,62970,23963,341
Operating expenses(9,005)(5,828)(4,851)
Operating income:63,62464,41158,490
Interest and debt expense(15,883)(19,393)(13,400)
Income from continuing operations before equity method investments, income taxes:47,74145,01845,090
Other undisclosed loss from continuing operations before income taxes(23,375)(25,504)(27,701)
Income from continuing operations before income taxes:24,36619,51417,389
Income tax expense(3,953)(3,403)(3,003)
Income from continuing operations:20,41316,11114,386
Income before gain (loss) on sale of properties:20,41316,11114,386
Net income attributable to parent:20,41316,11114,386
Preferred stock dividends and other adjustments(479)  
Other undisclosed net loss available to common stockholders, basic  (159) 
Net income available to common stockholders, diluted:19,93415,95214,386

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:20,41316,11114,386
Other comprehensive income (loss)  (1,421)213
Comprehensive income:20,41314,69014,599
Other undisclosed comprehensive income (loss), net of tax, attributable to parent4,5906,765(1,014)
Comprehensive income, net of tax, attributable to parent:25,00321,45513,585

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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