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Investor Relation - As Reported Financials

Investor Relation

As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD
Source Document Currency Code 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD

INTEREST AND DIVIDEND INCOME

Loans, including fees 203,993 226,993 272,007 331,961 95,502

Interest and dividends on securities

Taxable 39,314 38,490 38,631 56,898 16,733
Tax-exempt 16,764 18,390 19,489 20,778 5,541
Total interest and dividends on securities 56,078 56,880 58,120 77,676 22,274
Other interest income 1,641 2,224 2,297 5,320 1,277
Total interest and dividend income 261,712 286,097 332,424 414,957 119,053

INTEREST EXPENSE

Interest bearing demand deposits 1,943 2,817 6,452 13,144 3,946
Money market deposits 1,914 1,860 2,775 5,016 1,899
Savings deposits 640 696 745 1,225 522
Certificates of deposit 11,033 10,419 10,108 12,450 3,903
Total interest expense on deposits 15,530 15,792 20,080 31,835 10,270
Federal Home Loan Bank borrowings 5,510 11,985 13,290 23,333 6,337
Other short-term borrowings 370 478 1,442 3,717 1,556
Subordinated debt and junior subordinated debt 3,315 4,512 7,317 8,836 2,529
Total interest expense 24,725 32,767 42,129 67,721 20,692
NET INTEREST INCOME 236,987 253,330 290,295 347,236 98,361
Provision for credit losses 8,353 8,478 9,986 7,764 2,507
Net interest income after provision for credit losses 228,634 244,852 280,309 339,472 95,854

NON-INTEREST INCOME

Trust fees 21,900 21,630 22,740 24,623 7,115
Service charges on deposits 16,743 18,333 20,532 23,670 6,549
Electronic banking fees 14,361 15,596 19,183 23,300 5,892
Net securities brokerage revenue 7,692 6,449 6,672 7,186 1,860
Bank-owned life insurance 4,863 4,064 4,794 6,427 1,319
Mortgage banking income 2,071 2,529 5,053 5,840 1,056
Net securities gains (losses) 948 2,357 567 (900) 657
Net gain on other real estate owned and other assets 356 790 658 524 136
Other income 5,532 9,751 8,641 9,606 3,189
Total non-interest income 74,466 81,499 88,840 100,276 27,773

NON-INTEREST EXPENSE

Salaries and wages 77,340 84,281 97,361 114,602 30,940
Employee benefits 26,896 27,952 29,933 30,079 9,989
Net occupancy 13,635 14,664 17,101 19,165 5,566
Equipment 13,194 14,543 16,026 17,207 4,833
Marketing 5,646 5,391 5,720 5,368 1,243
FDIC insurance 4,107 3,990 3,504 3,242 1,353
Amortization of intangible assets 3,136 3,598 4,940 6,980 2,514
Restructuring and merger-related expense 11,082 13,261 945 17,860 3,107
Other operating expenses 38,887 41,000 45,330 50,721 14,887
Total non-interest expense 193,923 208,680 220,860 265,224 74,432
Income before provision for income taxes 109,177 117,671 148,289 174,524 49,195
Provision for income taxes 28,415 31,036 53,807 31,412 8,858
NET INCOME 80,762 86,635 94,482 143,112 40,337

EARNINGS PER COMMON SHARE

Basic 2.15 2.16 2.15 2.93 0.74
Diluted 2.15 2.16 2.14 2.92 0.74

AVERAGE COMMON SHARES OUTSTANDING

Basic 37,488,331 40,100,320 44,003,208 48,889,041 54,598,499
Diluted 37,547,127 40,127,076 44,075,293 49,022,990 54,706,337
DIVIDENDS DECLARED PER COMMON SHARE 0.92 0.96 1.04 1.16 0.31

COMPREHENSIVE INCOME

Net income 80,762 86,635 94,482 143,112 NA

Securities available-for-sale

Net change in unrealized (losses) on securities available-for-sale (10,552) (6,761) (1,702) (9,228) NA
Related income tax benefit 3,875 2,461 717 2,008 NA
Net securities losses (gains) reclassified into earnings (596) (2,251) (42) 15 NA
Related income tax (benefit) expense 219 823 15 (4) NA
Net effect on other comprehensive income for the period (7,054) (5,728) (1,012) (7,209) NA

Securities held-to-maturity

Amortization of unrealized gain transferred from available-for-sale (494) (357) (326) (244) NA
Related income tax expense 182 132 117 56 NA
Net effect on other comprehensive income for the period (312) (225) (209) (188) NA

Defined benefit plans

Amortization of net loss and prior service costs 3,205 3,046 3,247 2,948 NA
Related income tax benefit (1,201) (1,153) (1,053) (822) NA
Recognition of unrealized (loss) gain 5,106 (3,329) 380 (54) NA
Related income tax benefit (expense) (1,873) 1,217 (141) 12 NA
Net effect on other comprehensive income for the period 5,237 (219) 2,433 2,084 NA
Total other comprehensive (loss) gain (2,129) (6,172) 1,212 (5,313) NA
COMPREHENSIVE INCOME 78,633 80,463 95,694 137,799 60,110
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.

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