Income Statement

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 2012 Y2013 Y2014 Y2015 Y2016 Q3 YTD
Source Document12/31/201412/31/201512/31/201512/31/20159/30/2016
(in thousands)     
Interest and dividend income 
Loans 209,280191,594191,658192,184149,851
Taxable investment securities 3,8602,0563,1624,4034,638
Non-taxable investment securities 3,2283,1133,7384,7584,234
Mortgage-backed securities 6,1865,4416,92510,9339,126
Federal funds sold and other 7349701,3591,3901,381
Total interest and dividend income 223,288203,174206,842213,668169,230
Interest expense 
Deposits 17,64013,39514,10216,00212,420
Federal Home Loan Bank borrowings 14,48810,9639,1087,9596,021
Junior subordinated debentures 6,2584,4083,8723,8751,753
Repurchase agreements and other short-term borrowings 1,6263905962117
Total interest expense 40,01229,15627,14127,89820,311
Net interest income 183,276174,018179,701185,770148,919
Provision/ (credit) for loan losses (3,300)(10,000)(6,400)(1,555)(5,806)
Net interest income after provision/ (credit) for loan losses 186,576184,018186,101187,325154,725
Fees and other income 
Investment management fees 39,16343,81647,12345,69432,002
Wealth advisory fees 37,65942,35248,08250,43738,013
Wealth management and trust fees 23,64626,54734,58251,30932,950
Other banking fee income 5,6637,4637,0338,4409,662
Gain on sale of loans, net 3,2252,5192,1581,207562
Gain on repurchase of debt 3,44462000NA
Gain on sale of investments, net 87149(7)236519
Gain/ (loss) on OREO, net 845(13)957124417
Gain on sale of Pacific Northwest offices 010,57400NA
Other 5972,4148703,722704
Total fees and other income 115,113136,341140,798161,169114,829
Operating expense 
Salaries and employee benefits 143,852140,761146,648159,401124,098
Occupancy and equipment 30,80729,82231,04137,18329,036
Professional services 13,11312,10912,47312,8618,820
Marketing and business development 7,3137,0947,9899,0635,604
Contract services and data processing 5,3805,8275,8166,0375,281
Amortization of intangibles 4,3694,3274,8366,7114,740
FDIC insurance 3,9723,7003,4593,9792,757
Restructuring 5,91107393,7242,017
Other 17,27917,06514,12816,22210,757
Total operating expense 231,996220,705227,129255,181193,110
Income before income taxes 69,69399,65499,77093,31376,444
Income tax expense 20,93532,96332,36530,39223,716
Net income from continuing operations 48,75866,69167,40562,92152,728
Net income from discontinued operations 7,6357,7926,1606,4114,357
Net income before attribution to noncontrolling interests 56,39374,48373,56569,33257,085
Less - Net income attributable to noncontrolling interests 3,1223,9484,7504,4073,010
Net income attributable to the Company 53,27170,53568,81564,92554,075
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)(2,265)
Net income attributable to common shareholders for earnings per share calculation 47,17053,89964,25261,73151,810
Basic earnings per share attributable to common shareholders 
From continuing operations 0.530.60.730.680.58
From discontinued operations
Total attributable to common shareholders 0.620.70.810.760.64
Weighted average basic common shares outstanding 76,019,99177,373,81778,921,48080,885,25381,280,014
Diluted earnings per share attributable to common shareholders 
From continuing operations 0.520.590.720.660.57
From discontinued operations
Total attributable to common shareholders 0.610.680.790.740.62
Weighted average diluted common shares outstanding 76,973,51678,753,52480,879,23183,225,15383,430,480
Net income attributable to the Company 53,27170,53568,81564,92554,075
Other comprehensive income/ (loss), net of tax 
Unrealized gain/ (loss) on securities available-for-sale (937)(7,141)3,736(1,349)12,322
Reclassification adjustment for net realized gain/ (loss) included in net income (1,015)(1,204)(1,849)(2,354)330
Net unrealized gain/ (loss) on securities available-for-sale (1,471)(7,169)3,740(1,488)11,992
Unrealized gain/ (loss) on cash flow hedges (878)2(2,009)(1,554)(1,119)
Reclassification adjustment for net realized gain/ (loss) included in net income - Unrealized gain/ (loss) on cash flow hedges 55728(4)139(761)
Adjustment for discontinued operations (23)NANANANA
Net unrealized gain/ (loss) on cash flow hedges 1371,206(160)800(358)
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)11,634
Total comprehensive income attributable to the Company, net 51,80164,21472,31564,12265,709

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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