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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 Q1 YTD 3/31/2018 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 Q1 YTD 3/31/2018 USD

INTEREST AND DIVIDEND INCOME

Loans, including fees 172,182 203,993 226,993 272,007 69,237

Interest and dividends on securities

Taxable 29,233 39,314 38,490 38,631 11,543
Tax-exempt 13,589 16,764 18,390 19,489 4,834
Total interest and dividends on securities 42,822 56,078 56,880 58,120 16,377
Other interest income 987 1,641 2,224 2,297 803
Total interest and dividend income 215,991 261,712 286,097 332,424 86,417

INTEREST EXPENSE

Interest bearing demand deposits 1,568 1,943 2,817 6,452 2,524
Money market deposits 1,877 1,914 1,860 2,775 878
Savings deposits 532 640 696 745 189
Certificates of deposit 13,286 11,033 10,419 10,108 2,536
Total interest expense on deposits 17,263 15,530 15,792 20,080 6,127
Federal Home Loan Bank borrowings 968 5,510 11,985 13,290 4,498
Other short-term borrowings 1,333 370 478 1,442 558
Subordinated debt and junior subordinated debt 3,199 3,315 4,512 7,317 1,942
Total interest expense 22,763 24,725 32,767 42,129 13,125
NET INTEREST INCOME 193,228 236,987 253,330 290,295 73,292
Provision for credit losses 6,405 8,353 8,478 9,986 2,168
Net interest income after provision for credit losses 186,823 228,634 244,852 280,309 71,124

NON-INTEREST INCOME

Trust fees 21,069 21,900 21,630 22,740 6,503
Service charges on deposits 16,135 16,743 18,333 20,532 4,822
Electronic banking fees 12,708 14,361 15,596 19,183 4,829
Net securities brokerage revenue 6,922 7,692 6,449 6,672 1,670
Bank-owned life insurance 4,614 4,863 4,064 4,794 2,756
Mortgage banking income 1,604 2,071 2,529 5,053 1,004
Net securities (losses) gains 903 948 2,357 567 (39)
Net gain (loss) on other real estate owned and other assets (1,006) 356 790 658 262
Other income 5,555 5,532 9,751 8,641 2,173
Total non-interest income 68,504 74,466 81,499 88,840 23,980

NON-INTEREST EXPENSE

Salaries and wages 67,408 77,340 84,281 97,361 25,006
Employee benefits 21,518 26,896 27,952 29,933 6,912
Net occupancy 12,122 13,635 14,664 17,101 4,656
Equipment 11,542 13,194 14,543 16,026 3,949
Marketing 5,242 5,646 5,391 5,720 1,116
FDIC insurance 3,376 4,107 3,990 3,504 658
Amortization of intangible assets 1,920 3,136 3,598 4,940 1,086
Restructuring and merger-related expense 1,309 11,082 13,261 945 245
Other operating expenses 37,196 38,887 41,000 45,330 10,943
Total non-interest expense 161,633 193,923 208,680 220,860 54,571
Income before provision for income taxes 93,694 109,177 117,671 148,289 40,533
Provision for income taxes 23,720 28,415 31,036 53,807 7,004
NET INCOME 69,974 80,762 86,635 94,482 33,529

EARNINGS PER COMMON SHARE

Basic 2.39 2.15 2.16 2.15 0.76
Diluted 2.39 2.15 2.16 2.14 0.76

AVERAGE COMMON SHARES OUTSTANDING

Basic 29,249,499 37,488,331 40,100,320 44,003,208 44,050,701
Diluted 29,333,876 37,547,127 40,127,076 44,075,293 44,168,242
DIVIDENDS DECLARED PER COMMON SHARE 0.88 0.92 0.96 1.04 0.29

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 19,011
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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