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As Reported Financial Statements

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 income

Interest and fees on loans 82,453 83,575 92,296 106,282 29,758
Interest and dividends on investment securities 18,602 21,875 22,917 23,755 5,641
Other interest income 0 0 18 73 4
Total interest income 101,055 105,450 115,231 130,110 35,403

Interest expense

Deposits 6,366 7,306 8,458 11,093 3,456
Short-term borrowings 915 1,081 1,612 3,931 1,701
Long-term borrowings 0 1,750 2,471 2,471 618
Total interest expense 7,281 10,137 12,541 17,495 5,775
Net interest income 93,774 95,313 102,690 112,615 29,628
Provision for loan losses 7,789 7,381 9,638 13,361 2,949
Net interest income after provision for loan losses 85,985 87,932 93,052 99,254 26,679

Noninterest income

Service charges on deposits 8,954 7,742 7,280 7,391 1,738
Insurance income 2,399 5,166 5,396 5,266 1,399
ATM and debit card 4,963 5,084 5,687 5,721 1,421
Investment advisory 2,138 2,193 5,208 6,104 1,778
Company owned life insurance 1,753 1,962 2,808 1,781 450
Investments in limited partnerships 1,103 895 300 110 568
Loan servicing 568 503 436 439 115
Net gain on sale of loans held for sale 313 249 240 376 96
Net gain on investment securities 2,041 1,988 2,695 1,260 0
Net gain (loss) on other assets 69 27 313 37 3
Amortization of tax credit investment (2,323) (390) 0 0 NA
Contingent consideration liability adjustment 0 1,093 1,170 1,200 NA
Other 3,372 3,825 4,227 5,045 1,416
Total noninterest income 25,350 30,337 35,760 34,730 8,984

Noninterest expense

Salaries and employee benefits 38,595 42,439 45,215 48,675 13,429
Occupancy and equipment 12,829 13,856 14,529 16,293 4,407
Professional services 4,760 3,681 5,782 4,083 883
Computer and data processing 3,016 4,267 4,451 4,935 1,235
Supplies and postage 2,053 2,155 2,047 2,003 512
FDIC assessments 1,592 1,719 1,735 1,817 508
Advertising and promotions 972 1,986 2,097 2,171 977
Amortization of intangibles NA 942 1,249 1,170 288
Goodwill impairment 0 751 0 1,575 NA
Other 8,538 7,597 7,566 7,791 1,868
Total noninterest expense 72,355 79,393 84,671 90,513 24,107
Income before income taxes 38,980 38,876 44,141 43,471 11,556
Income tax expense 9,625 10,539 12,210 9,945 2,268
Net income 29,355 28,337 31,931 33,526 9,288
Preferred stock dividends 1,462 1,462 1,462 1,462 365
Net income available to common shareholders 27,893 26,875 30,469 32,064 8,923

Earnings per common share

Basic 2.01 1.91 2.11 2.13 0.56
Diluted 2.00 1.90 2.10 2.13 0.56
Cash dividends declared per common share 0.77 0.80 0.81 0.85 0.24

Weighted average common shares outstanding

Basic 13,893 14,081 14,436 15,044 15,890
Diluted 13,946 14,135 14,491 15,085 15,941

Consolidated Statements of Comprehensive Income

Net income 29,355 28,337 31,931 33,526 9,288

Other comprehensive (loss) income, net of tax

Securities available for sale and transferred securities 6,962 (2,321) (3,033) 454 (6,270)
Hedging derivative instruments NA NA NA NA (104)
Pension and post-retirement obligations (5,786) 5 409 1,581 127
Total other comprehensive (loss) income, net of tax 1,176 (2,316) (2,624) 2,035 (6,247)
Comprehensive income 30,531 26,021 29,307 35,561 3,041
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