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Investor Relation - As Reported Financials

Investor Relation

As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2013 Y 12/31/2015 USD 2014 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD 2017 Q3 YTD 9/30/2017 USD
Source Document Currency Code 2013 Y 12/31/2015 USD 2014 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD 2017 Q3 YTD 9/30/2017 USD

INTEREST AND DIVIDEND INCOME

Loans, including fees 175,323 172,182 203,993 226,993 202,600

Interest and dividends on securities

Taxable 29,193 29,233 39,314 38,490 28,682
Tax-exempt 13,128 13,589 16,764 18,390 14,617
Total interest and dividends on securities 42,321 42,822 56,078 56,880 43,299
Other interest income 246 987 1,641 2,224 1,674
Total interest and dividend income 217,890 215,991 261,712 286,097 247,573

INTEREST EXPENSE

Interest bearing demand deposits 1,415 1,568 1,943 2,817 4,413
Money market deposits 1,462 1,877 1,914 1,860 1,970
Savings deposits 525 532 640 696 555
Certificates of deposit 22,010 13,286 11,033 10,419 7,512
Total interest expense on deposits 25,412 17,263 15,530 15,792 14,450
Federal Home Loan Bank borrowings 1,151 968 5,510 11,985 9,608
Other short-term borrowings 2,525 1,333 370 478 954
Subordinated debt and junior subordinated debt 3,315 3,199 3,315 4,512 5,449
Total interest expense 32,403 22,763 24,725 32,767 30,461
NET INTEREST INCOME 185,487 193,228 236,987 253,330 217,112
Provision for credit losses 9,086 6,405 8,353 8,478 7,610
Net interest income after provision for credit losses 176,401 186,823 228,634 244,852 209,502

NON-INTEREST INCOME

Trust fees 19,577 21,069 21,900 21,630 17,073
Service charges on deposits 17,925 16,135 16,743 18,333 15,254
Electronic banking fees 12,198 12,708 14,361 15,596 14,395
Net securities brokerage revenue 6,248 6,922 7,692 6,449 5,164
Bank-owned life insurance 4,664 4,614 4,863 4,064 3,671
Net gains on sales of mortgage loans 2,614 1,604 2,071 2,529 3,511
Net securities gains 684 903 948 2,357 511
Net (loss)/gain on other real estate owned and other assets (81) (1,006) 356 790 9
Other income 5,456 5,555 5,532 9,751 6,318
Total non-interest income 69,285 68,504 74,466 81,499 65,906

NON-INTEREST EXPENSE

Salaries and wages 65,431 67,408 77,340 84,281 71,575
Employee benefits 23,255 21,518 26,896 27,952 23,670
Net occupancy 11,809 12,122 13,635 14,664 12,969
Equipment 10,669 11,542 13,194 14,543 12,043
Marketing 5,174 5,242 5,646 5,391 4,482
FDIC insurance 3,725 3,376 4,107 3,990 2,677
Amortization of intangible assets 2,288 1,920 3,136 3,598 3,736
Restructuring and merger-related expense 1,310 1,309 11,082 13,261 491
Other operating expenses 37,337 37,196 38,887 41,000 34,380
Total non-interest expense 160,998 161,633 193,923 208,680 166,023
Income before provision for income taxes 84,688 93,694 109,177 117,671 109,385
Provision for income taxes 20,763 23,720 28,415 31,036 30,801
NET INCOME 63,925 69,974 80,762 86,635 78,584

EARNINGS PER COMMON SHARE

Basic 2.18 2.39 2.15 2.16 1.79
Diluted 2.18 2.39 2.15 2.16 1.78

AVERAGE COMMON SHARES OUTSTANDING

Basic 29,270,922 29,249,499 37,488,331 40,100,320 43,992,017
Diluted 29,344,683 29,333,876 37,547,127 40,127,076 44,059,469
DIVIDENDS DECLARED PER COMMON SHARE 0.78 0.88 0.92 0.96 0.78

COMPREHENSIVE INCOME

Net income 63,925 69,974 80,762 86,635 NA

Securities available-for-sale

Net change in unrealized (losses) gains on securities available-for-sale (30,288) 15,242 (10,552) (6,761) NA
Related income tax benefit (expense) 11,186 (5,604) 3,875 2,461 NA
Net securities gains reclassified into earnings (89) (981) (596) (2,251) NA
Related income tax expense 33 361 219 823 NA
Net effect on other comprehensive income for the period (19,158) 9,018 (7,054) (5,728) NA

Securities held-to-maturity

Amortization of unrealized gain transferred from available-for-sale (1,029) (472) (494) (357) NA
Related income tax expense 383 173 182 132 NA
Net effect on other comprehensive income for the period (646) (299) (312) (225) NA

Defined benefit pension plan

Amortization of net loss and prior service costs 3,579 1,516 3,205 3,046 NA
Related income tax benefit (1,368) (558) (1,201) (1,153) NA
Recognition of unrealized (loss) gain 17,751 (24,934) 5,106 (3,329) NA
Related income tax benefit (expense) (6,527) 9,166 (1,873) 1,217 NA
Net effect on other comprehensive income for the period 13,435 (14,810) 5,237 (219) NA
Total other comprehensive loss (6,369) (6,091) (2,129) (6,172) NA
COMPREHENSIVE INCOME 57,556 63,883 78,633 80,463 84,873
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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