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As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD
Source Document Currency Code 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q1 YTD 3/31/2019 USD

Interest income

Interest and fees on loans 83,575 92,296 106,282 130,703 36,466
Interest and dividends on investment securities 21,875 22,917 23,755 21,601 4,946
Other interest income 0 18 73 428 102
Total interest income 105,450 115,231 130,110 152,732 41,514

Interest expense

Deposits 7,306 8,458 11,093 19,055 6,799
Short-term borrowings 1,081 1,612 3,931 8,342 2,305
Long-term borrowings 1,750 2,471 2,471 2,471 618
Total interest expense 10,137 12,541 17,495 29,868 9,722
Net interest income 95,313 102,690 112,615 122,864 31,792
Provision for loan losses 7,381 9,638 13,361 8,934 1,193
Net interest income after provision for loan losses 87,932 93,052 99,254 113,930 30,599

Noninterest income

Service charges on deposits 7,742 7,280 7,391 7,120 1,680
Insurance income 5,166 5,396 5,266 4,930 1,378
ATM and debit card 5,084 5,687 5,721 6,152 1,443
Investment advisory 2,193 5,208 6,104 8,123 2,216
Company owned life insurance 1,962 2,808 1,781 1,793 410
Investments in limited partnerships 895 300 110 1,203 232
Loan servicing 503 436 439 441 110
Income from derivative instruments, net NA 0 131 972 168
Net gain on sale of loans held for sale 249 240 376 796 182
Net (loss) gain on investment securities 1,988 2,695 1,260 (127) (53)
Net gain on other assets 27 313 37 50 49
Amortization of tax credit investment (390) NA NA NA NA
Contingent consideration liability adjustment 1,093 1,170 1,200 0 NA
Other 3,825 4,227 4,914 5,025 1,305
Total noninterest income 30,337 35,760 34,730 36,478 9,120

Noninterest expense

Salaries and employee benefits 42,439 45,215 48,675 54,643 14,001
Occupancy and equipment 13,856 14,529 16,293 17,338 4,586
Professional services 3,681 5,782 4,083 3,912 1,158
Computer and data processing 4,267 4,451 4,935 5,122 1,223
Supplies and postage 2,155 2,047 2,003 2,032 534
FDIC assessments 1,719 1,735 1,817 1,975 512
Advertising and promotions 1,986 2,097 2,171 3,582 520
Amortization of intangibles 942 1,249 1,170 1,257 323
Goodwill impairment 751 0 1,575 2,350 NA
Other 7,597 7,566 7,791 8,665 2,314
Total noninterest expense 79,393 84,671 90,513 100,876 25,171
Income before income taxes 38,876 44,141 43,471 49,532 14,548
Income tax expense 10,539 12,210 9,945 10,006 3,027
Net income 28,337 31,931 33,526 39,526 11,521
Preferred stock dividends 1,462 1,462 1,462 1,461 365
Net income available to common shareholders 26,875 30,469 32,064 38,065 11,156

Earnings per common share

Basic 1.91 2.11 2.13 2.39 0.70
Diluted 1.90 2.10 2.13 2.39 0.70
Cash dividends declared per common share 0.80 0.81 0.85 0.96 0.25

Weighted average common shares outstanding

Basic 14,081 14,436 15,044 15,910 NA
Diluted 14,135 14,491 15,085 15,956 NA

Consolidated Statements of Comprehensive Income

Net income 28,337 31,931 33,526 39,526 11,521

Other comprehensive income (loss), net of tax

Securities available for sale and transferred securities (2,321) (3,033) 454 (4,494) 5,503
Hedging derivative instruments NA 0 0 (276) (254)
Pension and post-retirement obligations 5 409 1,581 (4,595) 261
Total other comprehensive income (loss), net of tax (2,316) (2,624) 2,035 (9,365) 5,510
Comprehensive income 26,021 29,307 35,561 30,161 17,031
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