Income Statement

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 2012 Y2013 Y2014 Y2015 Y
Source Document12/31/201412/31/201512/31/201512/31/2015
Currency CodeUSDUSDUSDUSD
(in thousands)    
     
Interest and dividend income 
Loans 209,280191,594191,658192,184
Taxable investment securities 3,8602,0563,1624,403
Non-taxable investment securities 3,2283,1133,7384,758
Mortgage-backed securities 6,1865,4416,92510,933
Federal funds sold and other 7349701,3591,390
Total interest and dividend income 223,288203,174206,842213,668
Interest expense 
Deposits 17,64013,39514,10216,002
Federal Home Loan Bank borrowings 14,48810,9639,1087,959
Junior subordinated debentures 6,2584,4083,8723,875
Repurchase agreements and other short-term borrowings 1,6263905962
Total interest expense 40,01229,15627,14127,898
Net interest income 183,276174,018179,701185,770
Provision/ (credit) for loan losses (3,300)(10,000)(6,400)(1,555)
Net interest income after provision/ (credit) for loan losses 186,576184,018186,101187,325
Fees and other income 
Investment management fees 39,16343,81647,12345,694
Wealth advisory fees 37,65942,35248,08250,437
Wealth management and trust fees 23,64626,54734,58251,309
Other banking fee income 5,6637,4637,0338,440
Gain on sale of loans, net 3,2252,5192,1581,207
Gain on repurchase of debt 3,44462000
Gain/ (loss) on sale of investments, net 87149(7)236
Gain/ (loss) on OREO, net 845(13)957124
Gain on sale of Pacific Northwest offices 010,57400
Other 5972,4148703,722
Total fees and other income 115,113136,341140,798161,169
Operating expense 
Salaries and employee benefits 143,852140,761146,648159,401
Occupancy and equipment 30,80729,82231,04137,183
Professional services 13,11312,10912,47312,861
Marketing and business development 7,3137,0947,9899,063
Contract services and data processing 5,3805,8275,8166,037
Amortization of intangibles 4,3694,3274,8366,711
FDIC insurance 3,9723,7003,4593,979
Restructuring 5,91107393,724
Other 17,27917,06514,12816,222
Total operating expense 231,996220,705227,129255,181
Income before income taxes 69,69399,65499,77093,313
Income tax expense 20,93532,96332,36530,392
Net income from continuing operations 48,75866,69167,40562,921
Net income from discontinued operations 7,6357,7926,1606,411
Net income before attribution to noncontrolling interests 56,39374,48373,56569,332
Less - Net income attributable to noncontrolling interests 3,1223,9484,7504,407
Net income attributable to the Company 53,27170,53568,81564,925
Adjustments to net income attributable to the Company to arrive at net income attributable to common shareholders (6,101)(16,636)(4,563)(3,194)
Net income attributable to common shareholders for earnings per share calculation 47,17053,89964,25261,731
Basic earnings per share attributable to common shareholders 
From continuing operations 0.530.60.730.68
From discontinued operations 0.090.10.080.08
Total attributable to common shareholders 0.620.70.810.76
Weighted average basic common shares outstanding 76,019,99177,373,81778,921,48080,885,253
Diluted earnings per share attributable to common shareholders 
From continuing operations 0.520.590.720.66
From discontinued operations 0.090.090.070.08
Total attributable to common shareholders 0.610.680.790.74
Weighted average diluted common shares outstanding 76,973,51678,753,52480,879,23183,225,153
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 
Net income attributable to the Company 53,27170,53568,81564,925
Other comprehensive income/ (loss), net of tax 
Unrealized gain/ (loss) on securities available for sale (937)(7,141)3,736(1,349)
Net unrealized gain/ (loss) on securities available for sale (1,471)(7,169)3,740(1,488)
Unrealized gain/ (loss) on cash flow hedges (878)2(2,009)(1,554)
Adjustment for discontinued operations (23)NANANA
Net unrealized gain/ (loss) on cash flow hedges 1371,206(160)800
Net unrealized gain/ (loss) on other (136)(358)(80)(115)
Other comprehensive income/ (loss), net of tax (1,470)(6,321)3,500(803)
Total comprehensive income attributable to the Company, net 51,80164,21472,31564,122


Data shown on this page is extracted directly from the company’s documents. SNL 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, SNL, as always, stands by its commitment to the quality of the data.

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