Income Statement

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 2011 Y2012 Y2013 Y2014 Y2015 Q2 YTD
Source Document12/31/201312/31/201412/31/201412/31/20146/30/2015
(in thousands)     
Interest and dividend income 
Loans 212,047209,280191,594191,65894,663
Taxable investment securities 5,5613,8602,0563,1622,070
Non-taxable investment securities 3,7683,2283,1133,7382,146
Mortgage-backed securities 7,2976,1865,4416,9255,389
Federal funds sold and other 1,0697349701,359516
Total interest and dividend income 229,742223,288203,174206,842104,784
Interest expense 
Deposits 24,47917,64013,39514,1027,714
Federal Home Loan Bank borrowings 16,91514,48810,9639,1083,948
Junior subordinated debentures 7,4346,2584,4083,8721,923
Repurchase agreements and other short-term borrowings 1,9601,6263905942
Total interest expense 50,78840,01229,15627,14113,627
Net interest income 178,954183,276174,018179,70191,157
Provision/ (credit) for loan losses 13,160(3,300)(10,000)(6,400)(2,500)
Net interest income after provision/ (credit) for loan losses 165,794186,576184,018186,10193,657
Fees and other income 
Investment management fees 39,80339,16343,81647,12323,445
Wealth advisory fees 34,55337,65942,35248,08225,353
Wealth management and trust fees 23,55323,64626,54734,58227,103
Other banking fee income 6,5035,6637,4637,0333,941
Gain on sale of loans, net 2,4893,2252,5192,158665
Gain on repurchase of debt 4,2303,4446200NA
Gain on sale of investments, net 79887149(7)16
Gain/ (loss) on OREO, net 5,372845(13)95789
Gain on sale of Pacific Northwest offices 0010,5740NA
Other 1,6105972,4148703,393
Total fees and other income 118,911115,113136,341140,79884,005
Operating expense 
Salaries and employee benefits 142,872143,852140,761146,64881,943
Occupancy and equipment 29,64930,80729,82231,04118,130
Professional services 16,81013,11312,10912,4736,235
Marketing and business development 6,8027,3137,0947,9893,054
Contract services and data processing 4,6445,3805,8275,8162,932
Amortization of intangibles 4,8004,3694,3274,8363,257
FDIC insurance 6,1393,9723,7003,4591,974
Restructuring 8,0555,9110739220
Other 14,55317,27917,06514,1288,100
Total operating expense 234,324231,996220,705227,129125,845
Income before income taxes 50,38169,69399,65499,77051,817
Income tax expense 14,28020,93532,96332,36516,572
Net income from continuing operations 36,10148,75866,69167,40535,245
Net income from discontinued operations 6,1847,6357,7926,1603,640
Net income before attribution to noncontrolling interests 42,28556,39374,48373,56538,885
Less - Net income attributable to noncontrolling interests 3,1483,1223,9484,7502,492
Net income attributable to the Company 39,13753,27170,53568,81536,393
Adjustments to net income attributable to the Company to arrive at net income attributable to common shareholders (4,701)(6,101)(16,636)(4,563)(2,161)
Net income attributable to common shareholders for earnings per share calculation 34,43647,17053,89964,25234,232
Basic earnings per share attributable to common shareholders 
From continuing operations 0.390.530.60.730.38
From discontinued operations
Total attributable to common shareholders 0.460.620.70.810.42
Weighted average basic common shares outstanding 75,169,61176,019,99177,373,81778,921,48080,647,191
Diluted earnings per share attributable to common shareholders 
From continuing operations 0.390.520.590.720.37
From discontinued operations
Total attributable to common shareholders 0.460.610.680.790.41
Weighted average diluted common shares outstanding 75,481,02876,973,51678,753,52480,879,23182,828,829
Net income attributable to the Company 39,13753,27170,53568,81536,393
Other comprehensive income/ (loss), net of tax 
Unrealized gain/ (loss) on securities available for sale 3,726(937)(7,141)3,736(1,986)
Reclassification adjustment for net realized gain/ (loss) included in net income of Unrealized gain/ (loss) on securities available for sale 490(1,015)(1,204)(1,849)9
Net unrealized gain/ (loss) on securities available for sale 3,236(1,471)(7,169)3,740(1,995)
Unrealized gain/ (loss) on cash flow hedges (2,830)(878)2(2,009)(1,017)
Reclassification adjustment for net realized gain/ (loss) included in net income of Unrealized gain/ (loss) on cash flow hedges (1,095)55728(4)(1,184)
Adjustment for discontinued operations 0(23)00NA
Net unrealized gain/ (loss) on cash flow hedges (1,735)1371,206(160)167
Net unrealized gain/ (loss) on other 745(136)(358)(80)0
Other comprehensive income/ (loss), net of tax 2,246(1,470)(6,321)3,500(1,828)
Total comprehensive income attributable to the Company, net 41,38351,80164,21472,31534,565

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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