Income Statement

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 2012 Y2013 Y2014 Y2015 Y2016 Q1 YTD
Source Document12/31/201412/31/201512/31/201512/31/20153/31/2016
(in thousands)     
Interest and dividend income 
Loans 209,280191,594191,658192,18450,046
Taxable investment securities 3,8602,0563,1624,4031,594
Non-taxable investment securities 3,2283,1133,7384,7581,390
Mortgage-backed securities 6,1865,4416,92510,9333,065
Federal funds sold and other 7349701,3591,390507
Total interest and dividend income 223,288203,174206,842213,66856,602
Interest expense 
Deposits 17,64013,39514,10216,0024,182
Federal Home Loan Bank borrowings 14,48810,9639,1087,9591,953
Junior subordinated debentures 6,2584,4083,8723,875578
Repurchase agreements and other short-term borrowings 1,626390596210
Total interest expense 40,01229,15627,14127,8986,723
Net interest income 183,276174,018179,701185,77049,879
Provision/ (credit) for loan losses (3,300)(10,000)(6,400)(1,555)(3,133)
Net interest income after provision/ (credit) for loan losses 186,576184,018186,101187,32553,012
Fees and other income 
Investment management fees 39,16343,81647,12345,69410,658
Wealth advisory fees 37,65942,35248,08250,43712,712
Wealth management and trust fees 23,64626,54734,58251,30910,916
Other banking fee income 5,6637,4637,0338,4403,233
Gain on sale of loans, net 3,2252,5192,1581,207209
Gain on repurchase of debt 3,44462000NA
Gain on sale of investments, net 87149(7)2361
Gain/ (loss) on OREO, net 845(13)957124280
Gain on sale of Pacific Northwest offices 010,57400NA
Other 5972,4148703,72213
Total fees and other income 115,113136,341140,798161,16938,022
Operating expense 
Salaries and employee benefits 143,852140,761146,648159,40142,560
Occupancy and equipment 30,80729,82231,04137,1839,587
Professional services 13,11312,10912,47312,8613,515
Marketing and business development 7,3137,0947,9899,0632,170
Contract services and data processing 5,3805,8275,8166,0371,679
Amortization of intangibles 4,3694,3274,8366,7111,586
FDIC insurance 3,9723,7003,4593,9791,020
Restructuring 5,91107393,7241,112
Other 17,27917,06514,12816,2223,480
Total operating expense 231,996220,705227,129255,18166,709
Income before income taxes 69,69399,65499,77093,31324,325
Income tax expense 20,93532,96332,36530,3927,438
Net income from continuing operations 48,75866,69167,40562,92116,887
Net income from discontinued operations 7,6357,7926,1606,4112,065
Net income before attribution to noncontrolling interests 56,39374,48373,56569,33218,952
Less - Net income attributable to noncontrolling interests 3,1223,9484,7504,407911
Net income attributable to the Company 53,27170,53568,81564,92518,041
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)(289)
Net income attributable to common shareholders for earnings per share calculation 47,17053,89964,25261,73117,752
Basic earnings per share attributable to common shareholders 
From continuing operations 0.530.60.730.680.19
From discontinued operations
Total attributable to common shareholders 0.620.70.810.760.22
Weighted average basic common shares outstanding 76,019,99177,373,81778,921,48080,885,25381,301,499
Diluted earnings per share attributable to common shareholders 
From continuing operations 0.520.590.720.660.19
From discontinued operations
Total attributable to common shareholders 0.610.680.790.740.21
Weighted average diluted common shares outstanding 76,973,51678,753,52480,879,23183,225,15383,455,763
Net income attributable to the Company 53,27170,53568,81564,92518,041
Other comprehensive income/ (loss), net of tax 
Unrealized gain/ (loss) on securities available-for-sale 
Amount (937)(7,141)3,736(1,349)9,088
Reclassification adjustment for net realized gain/ (loss) included in net income NANANANA1
Net unrealized gain/ (loss) on securities available-for-sale (1,471)(7,169)3,740(1,488)9,087
Unrealized gain/ (loss) on cash flow hedges 
Amount (878)2(2,009)(1,554)(1,146)
Reclassification adjustment for net realized gain/ (loss) included in net income (1,015)(1,204)(1,849)(2,354)(246)
Adjustment for discontinued operations (23)NANANANA
Net unrealized gain/ (loss) on cash flow hedges 1371,206(160)800(900)
Net unrealized gain/ (loss) on other (136)(358)(80)(115)0
Other comprehensive income/ (loss), net of tax (1,470)(6,321)3,500(803)8,187
Total comprehensive income attributable to the Company, net 51,80164,21472,31564,12226,228

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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