As Reported Financials

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

Loans 141,696 163,625 219,972 405,881 116,285

Investment securities

Taxable 16,460 18,920 22,598 42,723 12,286
Tax-exempt 2,641 3,909 5,324 6,399 1,716
Federal funds sold and other 1,523 2,211 3,432 5,629 1,995
Total Interest income 162,320 188,665 251,326 460,632 132,282

Interest expense

Deposits 5,506 6,934 11,079 33,260 13,323
Securities sold under agreement to repurchase 186 103 246 632 236
Federal funds purchased and other borrowings 622 1,154 3,108 11,445 3,978
Federal Home Loan Bank advances and other borrowings 4 NA NA NA NA
Corporate debentures 968 1,149 1,350 2,213 570
Total Interest expense 7,286 9,340 15,783 47,550 18,107
Net interest income 155,034 179,325 235,543 413,082 114,175
Provision for loan losses 4,493 4,962 4,958 8,283 1,053
Net interest income after loan loss provision 150,541 174,363 230,585 404,799 113,122

Non-interest income

Correspondent banking capital markets revenue 23,225 28,817 23,520 28,884 7,972
Other correspondent banking related revenue 4,338 4,868 4,821 4,504 1,028
Mortgage banking revenue NA 833 1,511 12,610 4,193
Small business administration loans revenue NA 150 775 3,532 688
Service charges on deposit accounts 9,745 13,564 14,986 22,831 6,678
Debit, prepaid, ATM and merchant card related fees 6,913 8,254 9,035 16,243 5,018
Wealth management related revenue 3,813 3,237 3,554 2,657 607
FDIC indemnification income 1,686 96 0 0 NA
FDIC indemnification asset amortization (16,563) (1,166) 0 0 NA
Bank owned life insurance income 2,346 2,534 3,293 5,976 1,626
Gain on sale of deposits NA 0 0 611 NA
Gain on sale of trust department 0 0 1,224 0 NA
Gain on sale of residential loans held for sale 566 NA NA NA NA
Net gain (loss) on sale of available for sale debt securities 4 13 (7) (22) 17
Other non-interest income 1,377 3,169 2,463 7,301 1,473
Total other income 37,450 64,369 65,175 105,127 29,300

Non-interest expense

Salaries, wages and employee benefits 77,398 90,881 109,412 172,318 48,393
Occupancy expense 9,957 9,805 12,777 20,897 5,602
Depreciation of premises and equipment 5,716 6,373 7,247 9,788 2,850
Supplies, stationary and printing 1,436 1,340 1,610 2,498 748
Marketing expenses 2,317 3,125 3,929 6,235 2,020
Data processing expense 4,679 6,867 8,436 14,308 3,656
Legal, audit and other professional fees 2,954 3,657 3,644 6,163 1,442
Amortization of intangibles 2,537 3,074 4,066 10,018 2,814
Postage and delivery 1,389 1,684 1,938 2,961 925
ATM and debit card and merchant card related expenses 1,893 2,850 2,746 4,253 1,453
Bank regulatory expenses 3,173 3,420 3,051 4,885 1,616
Loss (gain) on sale of repossessed real estate (“OREO”) (1,253) (1,528) (876) (1,933) 47
Valuation write down of repossessed real estate (“OREO”) 1,207 871 682 482 108
Loss on repossessed assets other than real estate 7 46 (23) 138 13
Foreclosure related expenses 2,334 2,392 2,252 2,815 561
Merger related expenses 693 11,444 13,046 34,912 6,365
Impairment on bank property held for sale 0 1,150 519 2,667 107
Loss on termination of FDIC loss share agreements 0 17,560 0 0 NA
Other expenses 9,645 9,470 12,029 19,062 5,753
Total other expenses 126,082 174,481 186,485 312,467 84,473
Income before provision for income taxes 61,909 64,251 109,275 197,459 57,949
Provision for income taxes 22,571 21,910 53,480 41,024 13,306
Net income 39,338 42,341 55,795 156,435 44,643

Other comprehensive gain (loss) income, net of tax

Unrealized available for sale debt securities holding gain (loss) NA (10,004) 2,806 (15,432) 21,571
Unrealized securities holding gain (loss) (4,255) NA NA NA NA
Tax effect of unrealized securities holding gain or loss 1,642 NA NA NA NA
Less - reclassified adjustments for gain (loss) included in net income (2) (8) 4 16 (13)
Net unrealized holding gain (loss) on available for sale debt securities, net of income taxes (2,615) (10,012) 2,810 (15,416) 21,558
Total comprehensive income 36,723 32,329 58,605 141,019 66,201

Earnings per share

Basic 0.87 0.89 0.97 1.78 0.47
Diluted 0.85 0.88 0.95 1.76 0.46

Common shares used in the calculation of earnings per share

Basic 45,182,224 47,409,142 57,244,698 87,641,220 95,740,856
Diluted 45,788,632 48,191,523 58,340,813 88,758,853 96,500,740
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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