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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 Q3 YTD 9/30/2018 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 Q3 YTD 9/30/2018 USD

Interest income

Interest and fees on loans 82,453 83,575 92,296 106,282 94,851
Interest and dividends on investment securities 18,602 21,875 22,917 23,755 16,449
Other interest income 0 0 18 73 6
Total interest income 101,055 105,450 115,231 130,110 111,306

Interest expense

Deposits 6,366 7,306 8,458 11,093 12,872
Short-term borrowings 915 1,081 1,612 3,931 6,047
Long-term borrowings 0 1,750 2,471 2,471 1,853
Total interest expense 7,281 10,137 12,541 17,495 20,772
Net interest income 93,774 95,313 102,690 112,615 90,534
Provision for loan losses 7,789 7,381 9,638 13,361 5,050
Net interest income after provision for loan losses 85,985 87,932 93,052 99,254 85,484

Noninterest income

Service charges on deposits 8,954 7,742 7,280 7,391 5,254
Insurance income 2,399 5,166 5,396 5,266 3,918
ATM and debit card 4,963 5,084 5,687 5,721 4,509
Investment advisory 2,138 2,193 5,208 6,104 5,934
Company owned life insurance 1,753 1,962 2,808 1,781 1,333
Investments in limited partnerships 1,103 895 300 110 1,019
Loan servicing 568 503 436 439 396
Net gain on sale of loans held for sale 313 249 240 376 530
Net (loss) gain on investment securities 2,041 1,988 2,695 1,260 (88)
Net gain on derivative instruments NA NA NA NA 606
Net gain on other assets 69 27 313 37 49
Amortization of tax credit investment (2,323) (390) 0 0 NA
Contingent consideration liability adjustment 0 1,093 1,170 1,200 0
Other 3,372 3,825 4,227 5,045 3,971
Total noninterest income 25,350 30,337 35,760 34,730 27,431

Noninterest expense

Salaries and employee benefits 38,595 42,439 45,215 48,675 40,270
Occupancy and equipment 12,829 13,856 14,529 16,293 12,911
Professional services 4,760 3,681 5,782 4,083 3,132
Computer and data processing 3,016 4,267 4,451 4,935 3,884
Supplies and postage 2,053 2,155 2,047 2,003 1,545
FDIC assessments 1,592 1,719 1,735 1,817 1,486
Advertising and promotions 972 1,986 2,097 2,171 2,647
Amortization of intangibles NA 942 1,249 1,170 927
Goodwill impairment 0 751 0 1,575 0
Other 8,538 7,597 7,566 7,791 6,271
Total noninterest expense 72,355 79,393 84,671 90,513 73,073
Income before income taxes 38,980 38,876 44,141 43,471 39,842
Income tax expense 9,625 10,539 12,210 9,945 7,807
Net income 29,355 28,337 31,931 33,526 32,035
Preferred stock dividends 1,462 1,462 1,462 1,462 1,096
Net income available to common shareholders 27,893 26,875 30,469 32,064 30,939

Earnings per common share

Basic 2.01 1.91 2.11 2.13 1.95
Diluted 2.00 1.90 2.10 2.13 1.94
Cash dividends declared per common share 0.77 0.80 0.81 0.85 0.72

Weighted average common shares outstanding

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

Consolidated Statements of Comprehensive Income

Net income 29,355 28,337 31,931 33,526 32,035

Other comprehensive (loss) income, net of tax

Securities available for sale and transferred securities 6,962 (2,321) (3,033) 454 (10,493)
Hedging derivative instruments NA NA NA NA 208
Pension and post-retirement obligations (5,786) 5 409 1,581 381
Total other comprehensive (loss) income, net of tax 1,176 (2,316) (2,624) 2,035 (9,904)
Comprehensive income 30,531 26,021 29,307 35,561 22,131
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