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
(in thousands)     
Interest income 
Interest and fees on loans 67,39061,46556,97552,60412,518
Taxable 3,6494,8884,5573,7991,077
Exempt from federal income tax 1,1381,1181,1691,693448
Short term investments 20517316517832
Total interest income 72,38267,64462,86658,27414,075
Interest expense 
Deposits 15,73310,8916,6264,8911,041
FHLB advances and other borrowing 3,56480162553857
Subordinated Debt 1,4971,1971,036659158
Other 96838786NA
Total Interest Expense 20,89012,9728,3746,1741,256
Net Interest Income 51,49254,67254,49252,10012,819
Provision for loan losses 13,34413,3377,6901,8300
Net interest income after provision for loan losses 38,14841,33546,80250,27012,819
Non-interest income 
Service charges on deposit accounts 4,5764,4924,2194,136977
Gain on sale of mortgage loans 5,9073,6836,5234,436318
Mortgage servicing, net of amortization (96)89(231)63154
Gain/(loss) on trading account securities 3(11)412NA
Gain on sale of available for sale securities 4(37)443341
Courier and cash delivery services 174NANANANA
Other 1,2611,4592,1111,807480
Total non-interest income 11,8299,67512,67010,7881,930
Non-interest expense 
Salaries and employee benefits 20,88921,26322,68023,2815,877
Occupancy and equipment 5,5555,3115,1525,3061,432
FDIC insurance premium 2,0981,5601,220989231
Amortization of intangibles 79669848336979
Outside professional services 1,1441,2021,2871,268356
Advertising and promotions 1,6841,4251,4911,315239
Other real estate owned costs 3,5133,1531,679559153
FHLB advance prepayment cost NANANANA1,260
Merger related expenses NA00871251
Other 9,0238,94110,6909,7321,561
Total non-interest expense 44,70243,55344,68243,69011,439
Income before federal income taxes 5,2757,45714,79017,3683,310
Federal income taxes 1,5121,8344,2565,134960
Net Income 3,7635,62310,53412,2342,350
Preferred stock dividends and accretion of discount on preferred stock 1,6791,6791,2754810
Net income available to common shareholders 2,0843,9449,25911,7532,350
Basic earnings per share
Diluted earnings per share
Dividends per share NANANANA0.06
Net income 3,7635,62310,53412,2342,350
Other comprehensive income/(loss) 
Unrealized holding gains/(losses) arising during the period NA4,1301,123(4,764)742
Less - reclassification adjustment for gains included in net income NA37(44)(334)(1)
Other comprehensive income/(loss) before taxes NA4,1671,079(5,098)741
Income tax expense related to items in other comprehensive income NA(1,417)(367)1,737(264)
Other comprehensive income/(loss) net of income tax effect from reclassification of $0 and $17 in 2014 and 2013, respectively (452)2,750712(3,361)477
Comprehensive income 3,3118,37311,2468,8732,827

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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