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Investor Relation - As Reported Financials

Investor Relation

As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q2 YTD 6/30/2018 USD
Source Document Currency Code 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q2 YTD 6/30/2018 USD

INTEREST AND DIVIDEND INCOME

Loans, including fees 172,182 203,993 226,993 272,007 147,671

Interest and dividends on securities

Taxable 29,233 39,314 38,490 38,631 25,738
Tax-exempt 13,589 16,764 18,390 19,489 9,890
Total interest and dividends on securities 42,822 56,078 56,880 58,120 35,628
Other interest income 987 1,641 2,224 2,297 1,904
Total interest and dividend income 215,991 261,712 286,097 332,424 185,203

INTEREST EXPENSE

Interest bearing demand deposits 1,568 1,943 2,817 6,452 5,673
Money market deposits 1,877 1,914 1,860 2,775 1,972
Savings deposits 532 640 696 745 416
Certificates of deposit 13,286 11,033 10,419 10,108 5,513
Total interest expense on deposits 17,263 15,530 15,792 20,080 13,574
Federal Home Loan Bank borrowings 968 5,510 11,985 13,290 10,451
Other short-term borrowings 1,333 370 478 1,442 1,532
Subordinated debt and junior subordinated debt 3,199 3,315 4,512 7,317 4,110
Total interest expense 22,763 24,725 32,767 42,129 29,667
NET INTEREST INCOME 193,228 236,987 253,330 290,295 155,536
Provision for credit losses 6,405 8,353 8,478 9,986 3,876
Net interest income after provision for credit losses 186,823 228,634 244,852 280,309 151,660

NON-INTEREST INCOME

Trust fees 21,069 21,900 21,630 22,740 12,255
Service charges on deposits 16,135 16,743 18,333 20,532 9,969
Electronic banking fees 12,708 14,361 15,596 19,183 10,558
Net securities brokerage revenue 6,922 7,692 6,449 6,672 3,479
Bank-owned life insurance 4,614 4,863 4,064 4,794 3,884
Mortgage banking income 1,604 2,071 2,529 5,053 2,776
Net securities gains 903 948 2,357 567 319
Net gain on other real estate owned and other assets (1,006) 356 790 658 491
Other income 5,555 5,532 9,751 8,641 3,760
Total non-interest income 68,504 74,466 81,499 88,840 47,491

NON-INTEREST EXPENSE

Salaries and wages 67,408 77,340 84,281 97,361 51,878
Employee benefits 21,518 26,896 27,952 29,933 14,877
Net occupancy 12,122 13,635 14,664 17,101 8,759
Equipment 11,542 13,194 14,543 16,026 8,044
Marketing 5,242 5,646 5,391 5,720 2,521
FDIC insurance 3,376 4,107 3,990 3,504 1,526
Amortization of intangible assets 1,920 3,136 3,598 4,940 2,397
Restructuring and merger-related expense 1,309 11,082 13,261 945 5,657
Other operating expenses 37,196 38,887 41,000 45,330 22,455
Total non-interest expense 161,633 193,923 208,680 220,860 118,114
Income before provision for income taxes 93,694 109,177 117,671 148,289 81,037
Provision for income taxes 23,720 28,415 31,036 53,807 14,339
NET INCOME 69,974 80,762 86,635 94,482 66,698

EARNINGS PER COMMON SHARE

Basic 2.39 2.15 2.16 2.15 1.47
Diluted 2.39 2.15 2.16 2.14 1.47

AVERAGE COMMON SHARES OUTSTANDING

Basic 29,249,499 37,488,331 40,100,320 44,003,208 45,281,264
Diluted 29,333,876 37,547,127 40,127,076 44,075,293 45,417,010
DIVIDENDS DECLARED PER COMMON SHARE 0.88 0.92 0.96 1.04 0.58

COMPREHENSIVE INCOME

Net income 69,974 80,762 86,635 94,482 NA

Securities available-for-sale

Net change in unrealized (losses) on securities available-for-sale 15,242 (10,552) (6,761) (1,702) NA
Related income tax benefit (5,604) 3,875 2,461 717 NA
Net securities gains reclassified into earnings (981) (596) (2,251) (42) NA
Related income tax expense 361 219 823 15 NA
Net effect on other comprehensive income for the period 9,018 (7,054) (5,728) (1,012) NA

Securities held-to-maturity

Amortization of unrealized gain transferred from available-for-sale (472) (494) (357) (326) NA
Related income tax expense 173 182 132 117 NA
Net effect on other comprehensive income for the period (299) (312) (225) (209) NA

Defined benefit pension plan

Amortization of net loss and prior service costs 1,516 3,205 3,046 3,247 NA
Related income tax benefit 9,166 (1,201) (1,153) (1,053) NA
Recognition of unrealized gain (loss) (24,934) 5,106 (3,329) 380 NA
Related income tax (expense) benefit (558) (1,873) 1,217 (141) NA
Net effect on other comprehensive income for the period (14,810) 5,237 (219) 2,433 NA
Total other comprehensive gain (loss) (6,091) (2,129) (6,172) 1,212 NA
COMPREHENSIVE INCOME 63,883 78,633 80,463 95,694 45,904
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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