Income Statement

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 2010 Y2011 Y2012 Y2013 Y
Source Document12/31/201212/31/201312/31/201312/31/2013
Currency CodeUSDUSDUSDUSD
(in thousands)    
     
Interest and dividend income 
Loans 229,331212,047209,280191,594
Taxable investment securities 6,1265,5613,8752,071
Non-taxable investment securities 5,1233,7683,2283,113
Mortgage-backed securities 8,0867,2976,1865,441
Federal funds sold and other 1,3061,069719955
Total interest and dividend income 249,972229,742223,288203,174
Interest expense 
Deposits 36,77024,47917,64013,395
Federal Home Loan Bank borrowings 20,12516,91514,48810,963
Junior subordinated debentures 10,0287,4346,2584,408
Repurchase agreements and other short-term borrowings 2,2891,9601,626390
Total interest expense 69,21250,78840,01229,156
Net interest income 180,760178,954183,276174,018
Provision/ (credit) for loan losses 87,17813,160(3,300)(10,000)
Net interest income after provision for loan losses 93,582165,794186,576184,018
Fees and other income 
Investment management fees 60,19939,80339,16343,816
Wealth advisory fees 31,73334,55337,65942,352
Private banking wealth management and trust fees NA23,55323,64526,550
Other banking fee income 6,8696,5035,6647,460
Gain on sale of loans, net 5,2492,4893,2252,519
Gain on repurchase of debt 04,2303,444620
Gain on sale of investments, net 3,64979887149
Gain/(loss) on OREO, net (2,839)5,372845(13)
Gain on sale of Pacific Northwest offices NA0010,574
Other 7681,6104502,414
Total fees and other income 105,628118,911114,966136,341
Operating expense 
Salaries and employee benefits 139,084142,872143,852140,761
Occupancy and equipment 27,34529,64930,79029,806
Professional services 19,31816,81013,11312,109
Marketing and business development 7,2206,8027,4227,199
Contract services and data processing 4,7334,6445,3805,827
Amortization of intangibles 5,0504,8004,3694,327
FDIC insurance 8,6036,1393,9723,700
Restructuring expense 08,0555,9110
Other 19,47514,55317,64517,631
Total operating expense 230,828234,324232,454221,360
Income before income taxes (31,618)50,38169,08898,999
Income tax expense (19,491)14,28020,33032,308
Net income from continuing operations (12,127)36,10148,75866,691
Net income from discontinued operations 3,7436,1847,6357,792
Net income before attribution to noncontrolling interests (8,384)42,28556,39374,483
Less - Net income attributable to noncontrolling interests 2,5863,1483,1223,948
Net income attributable to the Company (10,970)39,13753,27170,535
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)
Net income attributable to common shareholders for earnings per share calculation (20,736)34,43647,17053,899
Basic earnings per share attributable to common shareholders 
From continuing operations (0.34)0.390.530.6
From discontinued operations 0.050.070.090.1
Total attributable to common shareholders (0.29)0.460.620.7
Weighted average basic common shares outstanding 71,321,16275,169,61176,019,99177,373,817
Diluted earnings per share attributable to common shareholders 
From continuing operations (0.34)0.390.520.59
From discontinued operations 0.050.070.090.09
Total attributable to common shareholders (0.29)0.460.610.68
Weighted average diluted common shares outstanding 71,321,16275,481,02876,973,51678,753,524
Comprehensive Income 
Net income attributable to the Company (10,970)39,13753,27170,535
Other comprehensive income/ (loss), net of tax 
Unrealized gain/ (loss) on securities available for sale (1,012)3,726(937)(7,141)
Reclassification adjustment for net realized gain included in net income 2,19549055728
Adjustment for discontinued operations 00(23)0
Net unrealized gain/ (loss) on securities available for sale (3,207)3,236(1,471)(7,169)
Unrealized gain/ (loss) on cash flow hedges (1,429)(2,830)(878)2
Reclassification adjustment for net realized gain/ (loss) included in net income 1,592(1,095)(1,015)(1,204)
Net unrealized gain/ (loss) on cash flow hedges (3,021)(1,735)1371,206
Net unrealized gain/ (loss) on other 4745(136)(358)
Other comprehensive income/ (loss), net of tax (6,224)2,246(1,470)(6,321)
Total comprehensive income attributable to the Company, net (17,194)41,38351,80164,214


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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