As Reported Financials

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

Loans 121,262 141,696 163,625 219,972 289,127

Investment securities

Taxable 13,991 16,460 18,920 22,598 30,888
Tax-exempt 1,435 2,641 3,909 5,324 4,718
Federal funds sold and other 1,539 1,523 2,211 3,432 3,718
Total 138,227 162,320 188,665 251,326 328,451

Interest expense

Deposits 6,182 5,506 6,934 11,079 20,900
Securities sold under agreement to repurchase 181 186 103 246 429
Federal funds purchased and other borrowings 51 622 1,137 2,989 8,156
Federal Home Loan Bank advances and other borrowings 0 4 17 119 NA
Corporate debentures 942 968 1,149 1,350 1,566
Total 7,356 7,286 9,340 15,783 31,051
Net interest income 130,871 155,034 179,325 235,543 297,400
Provision for loan losses 826 4,493 4,962 4,958 6,183
Net interest income after loan loss provision 130,045 150,541 174,363 230,585 291,217

Non interest income

Correspondent banking capital markets revenue 16,400 23,225 28,817 23,520 20,156
Other correspondent banking related revenue 3,753 4,338 4,868 4,821 3,339
Mortgage banking income NA NA NA NA 8,406
SBA income NA NA NA NA 3,035
Service charges on deposit accounts 9,542 9,745 13,564 14,986 15,482
Debit, prepaid, ATM and merchant card related fees 6,250 6,913 8,254 9,035 11,094
Wealth management related revenue 4,239 3,813 3,237 3,554 1,932
FDIC indemnification income 2,982 1,686 96 0 NA
FDIC indemnification asset amortization (20,743) (16,563) (1,166) 0 NA
Bank owned life insurance income 1,767 2,346 2,534 3,293 4,258
Gain on sale of trust department NA 0 0 1,224 NA
Gain on sale of residential loans held for sale NA 566 833 1,511 NA
Other non interest income 1,990 1,377 3,319 3,238 5,051
Net loss on sale of securities available for sale 46 4 13 (7) (22)
Total other income 26,226 37,450 64,369 65,175 72,731

Non interest expense

Salaries, wages and employee benefits 70,375 77,398 90,881 109,412 124,274
Occupancy expense 10,163 9,957 9,805 12,777 15,264
Depreciation of premises and equipment 6,066 5,716 6,373 7,247 7,036
Supplies, stationary and printing 1,319 1,436 1,340 1,610 1,682
Marketing expenses 2,731 2,317 3,125 3,929 4,332
Data processing expense 5,484 4,679 6,867 8,436 10,687
Legal, audit and other professional fees 4,066 2,954 3,657 3,644 3,564
Amortization of intangibles 2,110 2,537 3,074 4,066 7,029
Postage and delivery 1,413 1,389 1,684 1,938 2,145
ATM and debit card related expenses 1,892 1,893 2,850 2,746 2,596
Bank regulatory expenses 3,209 3,173 3,420 3,051 3,586
Gain on sale of repossessed real estate (“OREO”) (788) (1,253) (1,528) (876) (1,193)
Valuation write down of repossessed real estate (“OREO”) 3,250 1,207 871 682 464
(Gain) loss on repossessed assets other than real estate 45 7 46 (23) 10
Foreclosure related expenses 2,775 2,334 2,392 2,252 2,056
Merger related expenses 11,542 693 11,444 13,046 33,244
Impairment on bank property held for sale 2,764 0 1,150 519 2,587
Loss on termination of FDIC loss share agreements 0 0 17,560 0 NA
Other expenses 7,765 9,645 9,470 12,029 13,584
Total other expenses 136,181 126,082 174,481 186,485 232,947
Income before provision for income taxes 20,090 61,909 64,251 109,275 131,001
Provision for income taxes 7,126 22,571 21,910 53,480 25,217
Net income 12,964 39,338 42,341 55,795 105,784

Other comprehensive (loss) income, net of tax

Unrealized securities holding (loss) gain, net of income taxes 8,565 NA NA NA (30,899)
Unrealized securities holding gain (loss) NA (4,255) (16,292) 4,571 NA
Tax effect of unrealized securities holding gain or loss NA 1,642 6,288 (1,765) NA
Less - reclassified adjustments for loss included in net income, net of income taxes (28) (2) (8) 4 16
Net unrealized (loss) gain on available for sale securities, net of income taxes 8,537 (2,615) (10,012) 2,810 (30,883)
Total comprehensive income 21,501 36,723 32,329 58,605 74,901

Earnings per share

Basic 0.32 0.87 0.89 0.97 1.24
Diluted 0.31 0.85 0.88 0.95 1.23

Common shares used in the calculation of earnings per share

Basic 40,852,002 45,182,224 47,409,142 57,244,698 84,958,277
Diluted 41,235,552 45,788,632 48,191,523 58,340,813 86,209,709
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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