Income Statement

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 2010 Y2011 Y2012 Y2013 Y2014 Q1 YTD
Source Document12/31/201212/31/201312/31/201312/31/20133/31/2014
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
Interest and dividend income 
Loans 229,331212,047209,280191,59447,214
Taxable investment securities 6,1265,5613,8752,071636
Non-taxable investment securities 5,1233,7683,2283,113904
Mortgage-backed securities 8,0867,2976,1865,4411,936
Federal funds sold and other 1,3061,069719955346
Total interest and dividend income 249,972229,742223,288203,17451,036
Interest expense 
Deposits 36,77024,47917,64013,3953,216
Federal Home Loan Bank borrowings 20,12516,91514,48810,9632,326
Junior subordinated debentures 10,0287,4346,2584,408955
Repurchase agreements and other short-term borrowings 2,2891,9601,62639017
Total interest expense 69,21250,78840,01229,1566,514
Net interest income 180,760178,954183,276174,01844,522
Provision/ (credit) for loan losses 87,17813,160(3,300)(10,000)(1,200)
Net interest income after provision for loan losses 93,582165,794186,576184,01845,722
Fees and other income 
Investment management fees 60,19939,80339,16343,81611,461
Wealth advisory fees 31,73334,55337,65942,35211,473
Private banking wealth management and trust fees NA23,55323,64526,5506,961
Other banking fee income 6,8696,5035,6647,4601,680
Gain on sale of loans, net 5,2492,4893,2252,51989
Gain on repurchase of debt 04,2303,4446200
Gain on sale of investments, net 3,649798871491
Gain/ (loss) on OREO, net (2,839)5,372845(13)819
Gain on sale of Pacific Northwest offices NA0010,574NA
Other 7681,6104502,414249
Total fees and other income 105,628118,911114,966136,34132,733
Operating expense 
Salaries and employee benefits 139,084142,872143,852140,76136,574
Occupancy and equipment 27,34529,64930,79029,8067,797
Professional services 19,31816,81013,11312,1092,843
Marketing and business development 7,2206,8027,4227,1991,426
Contract services and data processing 4,7334,6445,3805,8271,438
Amortization of intangibles 5,0504,8004,3694,3271,053
FDIC insurance 8,6036,1393,9723,700896
Restructuring expense 08,0555,9110NA
Other 19,47514,55317,64517,6312,941
Total operating expense 230,828234,324232,454221,36054,968
Income before income taxes (31,618)50,38169,08898,99923,487
Income tax expense (19,491)14,28020,33032,3087,138
Net income from continuing operations (12,127)36,10148,75866,69116,349
Net income from discontinued operations 3,7436,1847,6357,7921,928
Net income before attribution to noncontrolling interests (8,384)42,28556,39374,48318,277
Less - Net income attributable to noncontrolling interests 2,5863,1483,1223,9481,236
Net income attributable to the Company (10,970)39,13753,27170,53517,041
Adjustments to net income attributable to the Company to arrive at net income attributable to common shareholders (9,766)(4,701)(6,101)(16,636)(1,178)
Net income attributable to common shareholders for earnings per share calculation (20,736)34,43647,17053,89915,863
Basic earnings per share attributable to common shareholders 
From continuing operations (0.34)0.390.530.60.18
From discontinued operations 0.050.070.090.10.02
Total attributable to common shareholders (0.29)0.460.620.70.2
Weighted average basic common shares outstanding 71,321,16275,169,61176,019,99177,373,81778,145,185
Diluted earnings per share attributable to common shareholders 
From continuing operations (0.34)0.390.520.590.18
From discontinued operations 0.050.070.090.090.02
Total attributable to common shareholders (0.29)0.460.610.680.2
Weighted average diluted common shares outstanding 71,321,16275,481,02876,973,51678,753,52480,010,890
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 
Net income attributable to the Company (10,970)39,13753,27170,53517,041
Other comprehensive income/ (loss), net of tax 
Unrealized gain/ (loss) on securities available for sale (1,012)3,726(937)(7,141)1,125
Reclassification adjustment for net realized gain/ (loss) included in net income 2,195490557281
Adjustment for discontinued operations 00(23)0NA
Net unrealized gain/ (loss) on securities available for sale (3,207)3,236(1,471)(7,169)1,124
Unrealized gain/ (loss) on cash flow hedges (1,429)(2,830)(878)2(587)
Reclassification adjustment for net realized gain/ (loss) included in net income of cash flow hedges 1,592(1,095)(1,015)(1,204)(355)
Net unrealized gain/ (loss) on cash flow hedges (3,021)(1,735)1371,206(232)
Net unrealized gain/ (loss) on other 4745(136)(358)0
Other comprehensive income/ (loss), net of tax (6,224)2,246(1,470)(6,321)892
Total comprehensive income/ (loss) attributable to the Company, net (17,194)41,38351,80164,21417,933


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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