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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 Q3 YTD 9/30/2018 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 Q3 YTD 9/30/2018 USD

INTEREST AND DIVIDEND INCOME

Loans, including fees 172,182 203,993 226,993 272,007 234,276

Interest and dividends on securities

Taxable 29,233 39,314 38,490 38,631 40,702
Tax-exempt 13,589 16,764 18,390 19,489 15,216
Total interest and dividends on securities 42,822 56,078 56,880 58,120 55,918
Other interest income 987 1,641 2,224 2,297 3,402
Total interest and dividend income 215,991 261,712 286,097 332,424 293,596

INTEREST EXPENSE

Interest bearing demand deposits 1,568 1,943 2,817 6,452 9,174
Money market deposits 1,877 1,914 1,860 2,775 3,332
Savings deposits 532 640 696 745 768
Certificates of deposit 13,286 11,033 10,419 10,108 8,789
Total interest expense on deposits 17,263 15,530 15,792 20,080 22,063
Federal Home Loan Bank borrowings 968 5,510 11,985 13,290 17,142
Other short-term borrowings 1,333 370 478 1,442 2,497
Subordinated debt and junior subordinated debt 3,199 3,315 4,512 7,317 6,425
Total interest expense 22,763 24,725 32,767 42,129 48,127
NET INTEREST INCOME 193,228 236,987 253,330 290,295 245,469
Provision for credit losses 6,405 8,353 8,478 9,986 4,911
Net interest income after provision for credit losses 186,823 228,634 244,852 280,309 240,558

NON-INTEREST INCOME

Trust fees 21,069 21,900 21,630 22,740 18,520
Service charges on deposits 16,135 16,743 18,333 20,532 16,282
Electronic banking fees 12,708 14,361 15,596 19,183 16,697
Net securities brokerage revenue 6,922 7,692 6,449 6,672 5,315
Bank-owned life insurance 4,614 4,863 4,064 4,794 5,116
Mortgage banking income 1,604 2,071 2,529 5,053 4,297
Net securities gains 903 948 2,357 567 403
Net gain/(loss) on other real estate owned and other assets (1,006) 356 790 658 641
Other income 5,555 5,532 9,751 8,641 6,444
Total non-interest income 68,504 74,466 81,499 88,840 73,715

NON-INTEREST EXPENSE

Salaries and wages 67,408 77,340 84,281 97,361 82,213
Employee benefits 21,518 26,896 27,952 29,933 22,782
Net occupancy 12,122 13,635 14,664 17,101 13,715
Equipment 11,542 13,194 14,543 16,026 12,532
Marketing 5,242 5,646 5,391 5,720 3,967
FDIC insurance 3,376 4,107 3,990 3,504 2,315
Amortization of intangible assets 1,920 3,136 3,598 4,940 4,218
Restructuring and merger-related expense 1,309 11,082 13,261 945 16,468
Other operating expenses 37,196 38,887 41,000 45,330 36,024
Total non-interest expense 161,633 193,923 208,680 220,860 194,234
Income before provision for income taxes 93,694 109,177 117,671 148,289 120,039
Provision for income taxes 23,720 28,415 31,036 53,807 20,855
NET INCOME 69,974 80,762 86,635 94,482 99,184

EARNINGS PER COMMON SHARE

Basic 2.39 2.15 2.16 2.15 2.11
Diluted 2.39 2.15 2.16 2.14 2.11

AVERAGE COMMON SHARES OUTSTANDING

Basic 29,249,499 37,488,331 40,100,320 44,003,208 46,965,095
Diluted 29,333,876 37,547,127 40,127,076 44,075,293 47,107,829
DIVIDENDS DECLARED PER COMMON SHARE 0.88 0.92 0.96 1.04 0.87

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 71,869
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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