Level One Bancorp, Inc. (LEVL) Financial Statements (2025 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)Annual | Quarterly
| 12/31/2021 Q4 | 9/30/2021 Q3 | 6/30/2021 Q2 | 3/31/2021 Q1 | 12/31/2020 Q4 | 9/30/2020 Q3 | 6/30/2020 Q2 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 293,824 | 218,366 | 224,683 | 264,071 | 176,486 | 364,112 | |||
| Cash and cash equivalent | 293,824 | 218,366 | 224,683 | 264,071 | 176,486 | 364,112 | |||
| Total current assets: | 293,824 | 218,366 | 224,683 | 264,071 | 176,486 | 364,112 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 15,170 | 15,524 | 15,523 | 15,834 | 15,646 | 15,882 | |||
| Intangible assets, net (including goodwill) | 38,249 | 38,416 | 38,582 | 42,111 | 41,135 | 40,346 | |||
| Goodwill | 35,554 | 35,554 | 35,554 | 35,554 | 35,554 | 35,554 | |||
| Intangible assets, net (excluding goodwill) | 2,695 | 2,862 | 3,028 | 6,557 | 5,581 | 4,792 | |||
| Deferred income tax assets | 4,041 | 5,491 | 5,823 | 3,686 | 3,791 | 3,293 | |||
| Total noncurrent assets: | 57,460 | 59,431 | 59,928 | 61,631 | 60,572 | 59,521 | |||
| Other undisclosed assets | 2,192,599 | 2,228,726 | 2,288,115 | 2,117,280 | 2,209,389 | 2,118,063 | |||
| TOTAL ASSETS: | 2,543,883 | 2,506,523 | 2,572,726 | 2,442,982 | 2,446,447 | 2,541,696 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Debt | 2,681 | 3,225 | 3,993 | 3,204 | 187 | 153 | |||
| Total current liabilities: | 2,681 | 3,225 | 3,993 | 3,204 | 187 | 153 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 178,000 | 178,000 | 181,000 | 181,000 | 181,000 | 183,000 | |||
| Long-term debt, excluding current maturities | 178,000 | 178,000 | 181,000 | 181,000 | 181,000 | 183,000 | |||
| Total noncurrent liabilities: | 178,000 | 178,000 | 181,000 | 181,000 | 181,000 | 183,000 | |||
| Other undisclosed liabilities | 2,129,268 | 2,099,889 | 2,170,546 | 2,043,451 | 2,055,792 | 2,178,284 | |||
| Total liabilities: | 2,309,949 | 2,281,114 | 2,355,539 | 2,227,655 | 2,236,979 | 2,361,437 | |||
| Equity | |||||||||
| Equity, attributable to parent | 233,934 | 225,409 | 217,187 | 215,327 | 209,468 | 180,259 | |||
| Preferred stock | 23,372 | 23,372 | 23,372 | 23,372 | 23,370 | ||||
| Common stock | 86,926 | 86,723 | 86,529 | 87,615 | 89,409 | 89,175 | |||
| Accumulated other comprehensive income | 4,855 | 5,071 | 3,095 | 8,182 | 8,043 | 7,260 | |||
| Retained earnings | 118,781 | 110,243 | 104,191 | 96,158 | 88,646 | 83,824 | |||
| Total equity: | 233,934 | 225,409 | 217,187 | 215,327 | 209,468 | 180,259 | |||
| TOTAL LIABILITIES AND EQUITY: | 2,543,883 | 2,506,523 | 2,572,726 | 2,442,982 | 2,446,447 | 2,541,696 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 12/31/2021 Q4 | 9/30/2021 Q3 | 6/30/2021 Q2 | 3/31/2021 Q1 | 12/31/2020 Q4 | 9/30/2020 Q3 | 6/30/2020 Q2 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 26,538 | 24,448 | 21,571 | 22,181 | 27,787 | 26,979 | ||
| Gain on disposition of assets for financial service operations | 4,216 | 2,711 | 20 | 7,542 | 6,583 | |||
| Net investment income | 22,322 | 21,737 | 21,551 | 22,181 | 20,245 | 20,396 | ||
| Cost of revenue (Provision for Loan, Lease, and Other Losses) | (540) | (265) | (1,538) | (4,270) | (5,575) | |||
| Gross profit: | 26,538 | 23,908 | 21,306 | 20,643 | 23,517 | 21,404 | ||
| Operating expenses | (2,203) | (2,112) | (2,000) | (1,890) | (1,926) | (2,257) | ||
| Operating income: | 24,335 | 21,796 | 19,306 | 18,753 | 21,591 | 19,147 | ||
| Interest and debt expense | (1,807) | (2,121) | (2,394) | (3,075) | (3,648) | (4,163) | ||
| Income from continuing operations before equity method investments, income taxes: | 22,528 | 19,675 | 16,912 | 15,678 | 17,943 | 14,984 | ||
| Other undisclosed loss from continuing operations before income taxes | (10,772) | (10,861) | (5,881) | (5,461) | (11,617) | (11,620) | ||
| Income from continuing operations before income taxes: | 11,756 | 8,814 | 11,031 | 10,217 | 6,326 | 3,364 | ||
| Income tax expense | (2,291) | (1,835) | (2,072) | (1,844) | (1,117) | (643) | ||
| Income from continuing operations: | 9,465 | 6,979 | 8,959 | 8,373 | 5,209 | 2,721 | ||
| Income before gain (loss) on sale of properties: | 9,465 | 6,979 | 8,959 | 8,373 | 5,209 | 2,721 | ||
| Net income attributable to parent: | 9,465 | 6,979 | 8,959 | 8,373 | 5,209 | 2,721 | ||
| Preferred stock dividends and other adjustments | (468) | (469) | (469) | |||||
| Undistributed earnings (loss) allocated to participating securities, basic | 140 | (40) | ||||||
| Other undisclosed net loss available to common stockholders, basic | (479) | (19) | ||||||
| Net income available to common stockholders, diluted: | 8,997 | 6,510 | 8,490 | 8,034 | 5,169 | 2,702 | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 12/31/2021 Q4 | 9/30/2021 Q3 | 6/30/2021 Q2 | 3/31/2021 Q1 | 12/31/2020 Q4 | 9/30/2020 Q3 | 6/30/2020 Q2 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 9,465 | 6,979 | 8,959 | 8,373 | 5,209 | 2,721 | ||
| Comprehensive income: | 9,465 | 6,979 | 8,959 | 8,373 | 5,209 | 2,721 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (216) | 1,976 | (5,087) | 139 | 783 | 1,891 | ||
| Comprehensive income, net of tax, attributable to parent: | 9,249 | 8,955 | 3,872 | 8,512 | 5,992 | 4,612 | ||
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.