Income Statement

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 2012 Y2013 Y2014 Y2015 Y2016 Q2 YTD
Source Document12/31/201412/31/201512/31/201512/31/20156/30/2016
(in thousands)     
Interest and dividend income 
Loans 209,280191,594191,658192,18499,777
Taxable investment securities 3,8602,0563,1624,4033,101
Non-taxable investment securities 3,2283,1133,7384,7582,790
Mortgage-backed securities 6,1865,4416,92510,9336,047
Federal funds sold and other 7349701,3591,390912
Total interest and dividend income 223,288203,174206,842213,668112,627
Interest expense 
Deposits 17,64013,39514,10216,0028,257
Federal Home Loan Bank borrowings 14,48810,9639,1087,9594,092
Junior subordinated debentures 6,2584,4083,8723,8751,162
Repurchase agreements and other short-term borrowings 1,626390596268
Total interest expense 40,01229,15627,14127,89813,579
Net interest income 183,276174,018179,701185,77099,048
Provision/ (credit) for loan losses (3,300)(10,000)(6,400)(1,555)(5,668)
Net interest income after provision/ (credit) for loan losses 186,576184,018186,101187,325104,716
Fees and other income 
Investment management fees 39,16343,81647,12345,69421,285
Wealth advisory fees 37,65942,35248,08250,43725,263
Wealth management and trust fees 23,64626,54734,58251,30922,124
Other banking fee income 5,6637,4637,0338,4406,215
Gain on sale of loans, net 3,2252,5192,1581,207406
Gain on repurchase of debt 3,44462000NA
Gain on sale of investments, net 87149(7)236246
Gain/ (loss) on OREO, net 845(13)957124280
Gain on sale of Pacific Northwest offices 010,57400NA
Other 5972,4148703,722(1,002)
Total fees and other income 115,113136,341140,798161,16974,817
Operating expense 
Salaries and employee benefits 143,852140,761146,648159,40183,174
Occupancy and equipment 30,80729,82231,04137,18319,515
Professional services 13,11312,10912,47312,8616,530
Marketing and business development 7,3137,0947,9899,0633,981
Contract services and data processing 5,3805,8275,8166,0373,416
Amortization of intangibles 4,3694,3274,8366,7113,172
FDIC insurance 3,9723,7003,4593,9792,035
Restructuring 5,91107393,7242,017
Other 17,27917,06514,12816,2227,600
Total operating expense 231,996220,705227,129255,181131,440
Income before income taxes 69,69399,65499,77093,31348,093
Income tax expense 20,93532,96332,36530,39215,064
Net income from continuing operations 48,75866,69167,40562,92133,029
Net income from discontinued operations 7,6357,7926,1606,4113,310
Net income before attribution to noncontrolling interests 56,39374,48373,56569,33236,339
Less - Net income attributable to noncontrolling interests 3,1223,9484,7504,4071,900
Net income attributable to the Company 53,27170,53568,81564,92534,439
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)(1,259)
Net income attributable to common shareholders for earnings per share calculation 47,17053,89964,25261,73133,180
Basic earnings per share attributable to common shareholders 
From continuing operations 0.530.60.730.680.37
From discontinued operations
Total attributable to common shareholders 0.620.70.810.760.41
Weighted average basic common shares outstanding 76,019,99177,373,81778,921,48080,885,25381,269,154
Diluted earnings per share attributable to common shareholders 
From continuing operations 0.520.590.720.660.36
From discontinued operations
Total attributable to common shareholders 0.610.680.790.740.4
Weighted average diluted common shares outstanding 76,973,51678,753,52480,879,23183,225,15383,391,057
Net income attributable to the Company 53,27170,53568,81564,92534,439
Other comprehensive income/ (loss), net of tax 
Unrealized gain/ (loss) on securities available-for-sale (937)(7,141)3,736(1,349)15,298
Reclassification adjustment for net realized gain/ (loss) included in net income NANANANA158
Net unrealized gain/ (loss) on securities available-for-sale (1,471)(7,169)3,740(1,488)15,140
Unrealized gain/ (loss) on cash flow hedges 
Unrealized gain/ (loss) on cash flow hedges (878)2(2,009)(1,554)(1,498)
Reclassification adjustment for net realized gain/ (loss) included in net income (1,015)(1,204)(1,849)(2,354)(512)
Adjustment for discontinued operations (23)NANANANA
Net unrealized gain/ (loss) on cash flow hedges 1371,206(160)800(986)
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)14,154
Total comprehensive income attributable to the Company, net 51,80164,21472,31564,12248,593

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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