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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

Interest and fees on loans 83,575 92,296 106,282 130,703 112,177
Interest and dividends on investment securities 21,875 22,917 23,755 21,601 14,147
Other interest income 0 18 73 428 297
Total interest income 105,450 115,231 130,110 152,732 126,621

Interest expense

Deposits 7,306 8,458 11,093 19,055 21,454
Short-term borrowings 1,081 1,612 3,931 8,342 6,575
Long-term borrowings 1,750 2,471 2,471 2,471 1,853
Total interest expense 10,137 12,541 17,495 29,868 29,882
Net interest income 95,313 102,690 112,615 122,864 96,739
Provision for loan losses 7,381 9,638 13,361 8,934 5,391
Net interest income after provision for loan losses 87,932 93,052 99,254 113,930 91,348

Noninterest income

Service charges on deposits 7,742 7,280 7,391 7,120 5,361
Insurance income 5,166 5,396 5,266 4,930 3,689
ATM and debit card 5,084 5,687 5,721 6,152 4,983
Investment advisory 2,193 5,208 6,104 8,123 6,812
Company owned life insurance 1,962 2,808 1,781 1,793 1,293
Investments in limited partnerships 895 300 110 1,203 492
Loan servicing 503 436 439 441 316
Income from derivative instruments, net NA 0 131 972 1,013
Net gain on sale of loans held for sale 249 240 376 796 1,028
Net gain (loss) on investment securities 1,988 2,695 1,260 (127) 1,721
Net gain (loss) on other assets 27 313 37 50 56
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 3,950
Total noninterest income 30,337 35,760 34,730 36,478 30,714

Noninterest expense

Salaries and employee benefits 42,439 45,215 48,675 54,643 41,661
Occupancy and equipment 13,856 14,529 16,293 17,338 13,562
Professional services 3,681 5,782 4,083 3,912 3,618
Computer and data processing 4,267 4,451 4,935 5,122 3,951
Supplies and postage 2,155 2,047 2,003 2,032 1,554
FDIC assessments 1,719 1,735 1,817 1,975 1,005
Advertising and promotions 1,986 2,097 2,171 3,582 2,351
Amortization of intangibles 942 1,249 1,170 1,257 948
Goodwill impairment 751 0 1,575 2,350 NA
Other 7,597 7,566 7,791 8,665 7,410
Total noninterest expense 79,393 84,671 90,513 100,876 76,060
Income before income taxes 38,876 44,141 43,471 49,532 46,002
Income tax expense 10,539 12,210 9,945 10,006 10,247
Net income 28,337 31,931 33,526 39,526 35,755
Preferred stock dividends 1,462 1,462 1,462 1,461 1,096
Net income available to common shareholders 26,875 30,469 32,064 38,065 34,659

Earnings per common share

Basic 1.91 2.11 2.13 2.39 2.17
Diluted 1.90 2.10 2.13 2.39 2.16
Cash dividends declared per common share 0.80 0.81 0.85 0.96 0.75

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 35,755

Other comprehensive income (loss), net of tax

Securities available for sale and transferred securities (2,321) (3,033) 454 (4,494) 11,863
Hedging derivative instruments NA 0 0 (276) (317)
Pension and post-retirement obligations 5 409 1,581 (4,595) 784
Total other comprehensive income (loss), net of tax (2,316) (2,624) 2,035 (9,365) 12,330
Comprehensive income 26,021 29,307 35,561 30,161 48,085
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