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As Reported Financial Statements

As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD
Document Name As Of Date Currency Code 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD

Interest income

Loans 96,417 106,564 117,633 158,691 127,766
Taxable investment securities 1,587 1,057 939 417 81
Tax-exempt investment securities 22,468 22,654 24,529 24,960 11,812
Mortgage-backed securities 33,661 37,450 41,361 41,584 38,289
Federal Home Loan Bank stock and equity investments 298 798 1,306 1,595 1,217
Other interest earning assets 101 390 1,706 1,918 1,089
Total interest income 154,532 168,913 187,474 229,165 180,254

Interest expense

Deposits 10,162 14,255 20,736 35,864 34,064
Federal Home Loan Bank borrowings 8,234 11,751 15,106 12,813 13,003
Subordinated notes 0 1,628 5,633 5,659 4,235
Trust preferred subordinated debentures 1,455 1,706 2,013 2,610 2,132
Other borrowings 3 8 16 155 191
Total interest expense 19,854 29,348 43,504 57,101 53,625
Net interest income 134,678 139,565 143,970 172,064 126,629
Provision for loan losses 8,343 9,780 4,675 8,437 2,593
Net interest income after provision for loan losses 126,335 129,785 139,295 163,627 124,036

Noninterest income

Deposit services 20,112 20,702 21,785 25,082 19,391
Net gain (loss) on sale of securities available for sale 3,660 2,836 625 (1,839) 714
Gain on sale of loans 2,082 2,795 1,821 692 405
Trust fees 3,419 3,491 3,818 6,832 4,584
Bank owned life insurance 2,623 2,626 2,537 2,923 1,725
Brokerage services 2,206 2,127 2,422 1,987 1,549
Other 3,793 4,834 4,465 5,096 3,535
Total noninterest income 37,895 39,411 37,473 40,773 31,903

Noninterest expense

Salaries and employee benefits 62,945 61,628 60,779 70,643 54,325
Net occupancy 12,883 13,722 12,068 13,814 9,894
Acquisition expense 5,473 0 4,352 2,413 0
Advertising, travel & entertainment 2,678 2,643 2,219 2,894 2,173
ATM expense 3,054 3,136 3,889 1,090 658
Professional fees 3,735 4,946 3,844 4,035 3,575
Software and data processing 3,440 2,911 3,027 3,996 3,278
Communications 1,978 1,931 1,905 1,847 1,456
FDIC insurance 2,510 2,141 1,769 1,871 859
Amortization of intangibles 2,296 1,940 1,955 5,213 3,388
Other 11,962 14,524 10,528 12,283 8,747
Total noninterest expense 112,954 109,522 106,335 120,099 88,353

Income before income tax expense

Income before income tax expense 51,276 59,674 70,433 84,301 67,586
Income tax expense 7,279 10,325 16,121 10,163 10,367
Net income 43,997 49,349 54,312 74,138 57,219
Earnings per common share - basic 1.61 1.82 1.82 2.12 1.70
Earnings per common share - diluted 1.61 1.81 1.81 2.11 1.69
Cash dividends paid per common share 1.00 1.01 1.11 1.20 0.92

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Net income 43,997 49,349 54,312 74,138 57,219

Other comprehensive income (loss)

Securities available for sale and transferred securities
Change in unrealized holding gain (loss) on available for sale securities during the period (8,564) (23,459) 15,217 (34,238) 96,156
Unrealized net gain on securities transferred from held to maturity to available for sale NA 0 0 11,881 0
Change in net unrealized loss on securities transferred from held to maturity to available for sale NA 0 0 401 0
Change in net unrealized loss on securities transferred to held to maturity 1,329 (10,240) 0 0 NA
Reclassification adjustment for net loss on equity investments, reclassified to retained earnings with adoption of ASU 2016-01 NA 0 0 107 NA
Reclassification adjustment for amortization (accretion) related to available for sale and held to maturity debt securities 930 429 1,255 1,244 683
Reclassification adjustment for net (gain) loss on sale of available for sale securities, included in net income (3,660) (2,836) (625) 1,839 (714)
Derivatives
Change in net unrealized (loss) gain on effective cash flow hedge interest rate swap derivatives 0 5,255 3 2,351 (11,392)
Change in net unrealized gains on interest rate swap derivatives terminated during the period 0 0 273 0 NA
Reclassification adjustment for net loss on interest rate swap derivatives, included in net income 0 NA NA NA NA
Reclassification adjustment for amortization of unrealized gains on terminated interest rate swap derivatives 0 NA NA NA NA
Reclassification adjustment of net gain related to derivatives designated as cash flow hedges NA 1,815 754 (1,406) (1,809)
Pension plans
Amortization of net actuarial loss, included in net periodic benefit cost 2,448 NA NA NA NA
Amortization of net actuarial loss and prior service credit, included in net periodic benefit cost (16) 1,820 1,605 2,182 1,784
Effect of settlement recognition (62) (8) 8 0 NA
Prior service cost adjustment due to plan amendments 0 (121) 0 0 NA
Change in net actuarial loss 2,806 (3,132) (5,218) (1,994) NA
Other comprehensive income (loss), before tax (4,789) (30,477) 13,272 (17,633) 84,708
Income tax (expense) benefit related to items of other comprehensive income (loss) 1,676 10,667 (5,374) 3,703 (17,789)
Other comprehensive income (loss), net of tax (3,113) (19,810) 7,898 (13,930) 66,919
Comprehensive income 40,884 29,539 62,210 60,208 124,138
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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