Income Statement

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 2013 Y2014 Y2015 Y2016 Y2017 Q1 YTD
Source Document12/31/201512/31/201612/31/201612/31/20163/31/2017
(in thousands)     
Interest and dividend income 
Loans 191,594191,658192,184201,34953,636
Taxable investment securities 2,0563,1624,4036,2301,670
Non-taxable investment securities 3,1133,7384,7585,7541,606
Mortgage-backed securities 5,4416,92510,93312,4163,504
Federal funds sold and other 9701,3591,3901,890600
Total interest and dividend income 203,174206,842213,668227,63961,016
Interest expense 
Deposits 13,39514,10216,00216,5714,531
Federal Home Loan Bank borrowings 10,9639,1087,9598,0082,111
Junior subordinated debentures 4,4083,8723,8752,427671
Repurchase agreements and other short-term borrowings 390596219561
Total interest expense 29,15627,14127,89827,2017,374
Net interest income 174,018179,701185,770200,43853,642
Provision/ (credit) for loan losses (10,000)(6,400)(1,555)(6,935)(181)
Net interest income after provision/ (credit) for loan losses 184,018186,101187,325207,37353,823
Fees and other income 
Investment management fees 43,81647,12345,69444,41010,839
Wealth advisory fees 42,35248,08250,43750,58112,823
Wealth management and trust fees 26,54734,58251,30943,98010,826
Other banking fee income 7,4637,0338,44012,0501,694
Gain on sale of loans, net 2,5192,1581,207667138
Gain on repurchase of debt 620NANANANA
Gain/ (loss) on sale of investments, net 49(7)23652119
Gain/ (loss) on OREO, net (13)957124306(46)
Gain on sale of offices 10,574002,862NA
Other 2,4148703,7223,410213
Total fees and other income 136,341140,798161,169158,78736,506
Operating expense 
Salaries and employee benefits 140,761146,648159,401163,76745,825
Occupancy and equipment 29,82231,04137,18339,07510,649
Professional services 12,10912,47312,86111,5763,314
Marketing and business development 7,0947,9899,0637,6261,660
Contract services and data processing 5,8275,8166,0377,0241,580
Amortization of intangibles 4,3274,8366,7116,2821,426
Impairment of goodwill NA009,528NA
FDIC insurance 3,7003,4593,9793,484766
Restructuring 07393,7242,0170
Other 17,06514,12816,22214,5743,560
Total operating expense 220,705227,129255,181264,95368,780
Income before income taxes 99,65499,77093,313101,20721,549
Income tax expense 32,96332,36530,39230,9636,553
Net income from continuing operations 66,69167,40562,92170,24414,996
Net income from discontinued operations 7,7926,1606,4115,5411,632
Net income before attribution to noncontrolling interests 74,48373,56569,33275,78516,628
Less - Net income attributable to noncontrolling interests 3,9484,7504,4074,157966
Net income attributable to the Company 70,53568,81564,92571,62815,662
Adjustments to net income attributable to the Company to arrive at net income attributable to common shareholders (16,636)(4,000)(3,011)(4,063)(1,166)
Net income attributable to common shareholders for earnings per share calculation 53,89964,81561,91467,56514,496
Basic earnings per share attributable to common shareholders 
From continuing operations 0.60.740.690.760.16
From discontinued operations
Total attributable to common shareholders 0.70.820.770.830.18
Weighted average basic common shares outstanding 77,373,81778,921,48080,885,25381,264,27381,951,179
Diluted earnings per share attributable to common shareholders 
From continuing operations 0.590.720.660.740.15
From discontinued operations
Total attributable to common shareholders 0.680.80.740.810.17
Weighted average diluted common shares outstanding 78,753,52481,308,14483,393,09083,209,12684,560,918
Net income attributable to the Company 70,53568,81564,92571,62815,662
Other comprehensive income/ (loss), net of tax 
Unrealized gain/ (loss) on securities available-for-sale (7,141)3,736(1,349)(11,358)2,094
Reclassification adjustment for net realized gain/ (loss) included in net income - Unrealized gain/ (loss) on securities available-for-sale (1,204)4(139)(331)(11)
Net unrealized gain/ (loss) on securities available-for-sale (7,169)3,740(1,488)(11,689)2,083
Unrealized gain/ (loss) on cash flow hedges 2(2,009)(1,554)(461)36
Reclassification adjustment for net realized gain/ (loss) included in net income - Unrealized gain/ (loss) on cash flow hedges 281,8492,354979180
Net unrealized gain/ (loss) on cash flow hedges 1,206(160)800518216
Net unrealized gain/ (loss) on other (358)(80)(115)12312
Other comprehensive income/ (loss), net of tax (6,321)3,500(803)(11,048)2,311
Total comprehensive income attributable to the Company, net 64,21472,31564,12260,58017,973

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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