Income Statement

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 2013 Y2014 Y2015 Y2016 Y2017 Q2 YTD
Source Document12/31/201512/31/201612/31/201612/31/20166/30/2017
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
Interest and dividend income 
Loans 191,594191,658192,184201,349111,372
Taxable investment securities 2,0563,1624,4036,2303,262
Non-taxable investment securities 3,1133,7384,7585,7543,261
Mortgage-backed securities 5,4416,92510,93312,4166,999
Federal funds sold and other 9701,3591,3901,8901,431
Total interest and dividend income 203,174206,842213,668227,639126,325
Interest expense 
Deposits 13,39514,10216,00216,5719,480
Federal Home Loan Bank borrowings 10,9639,1087,9598,0084,600
Junior subordinated debentures 4,4083,8723,8752,4271,387
Repurchase agreements and other short-term borrowings 390596219571
Total interest expense 29,15627,14127,89827,20115,538
Net interest income 174,018179,701185,770200,438110,787
Provision/ (credit) for loan losses (10,000)(6,400)(1,555)(6,935)(6,295)
Net interest income after provision/ (credit) for loan losses 184,018186,101187,325207,373117,082
Fees and other income 
Investment management fees 43,81647,12345,69444,41021,920
Wealth advisory fees 42,35248,08250,43750,58125,784
Wealth management and trust fees 26,54734,58251,30943,98021,987
Other banking fee income 7,4637,0338,44012,0503,658
Gain on sale of loans, net 2,5192,1581,207667197
Gain on repurchase of debt 620NANANANA
Gain/ (loss) on sale of investments, net 49(7)236521256
Gain/ (loss) on OREO, net (13)957124306(46)
Gain on sale of offices 10,574002,862NA
Other 2,4148703,7223,410768
Total fees and other income 136,341140,798161,169158,78774,524
Operating expense 
Salaries and employee benefits 140,761146,648159,401163,76789,318
Occupancy and equipment 29,82231,04137,18339,07521,428
Professional services 12,10912,47312,86111,5766,420
Marketing and business development 7,0947,9899,0637,6263,631
Contract services and data processing 5,8275,8166,0377,0243,221
Amortization of intangibles 4,3274,8366,7116,2822,852
Impairment of goodwill NA009,528NA
FDIC insurance 3,7003,4593,9793,4841,645
Restructuring 07393,7242,0170
Other 17,06514,12816,22214,5748,086
Total operating expense 220,705227,129255,181264,953136,601
Income before income taxes 99,65499,77093,313101,20755,005
Income tax expense 32,96332,36530,39230,96316,516
Net income from continuing operations 66,69167,40562,92170,24438,489
Net income from discontinued operations 7,7926,1606,4115,5412,695
Net income before attribution to noncontrolling interests 74,48373,56569,33275,78541,184
Less - Net income attributable to noncontrolling interests 3,9484,7504,4074,1572,116
Net income attributable to the Company 70,53568,81564,92571,62839,068
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)(1,743)
Net income attributable to common shareholders for earnings per share calculation 53,89964,81561,91467,56537,325
Basic earnings per share attributable to common shareholders 
From continuing operations 0.60.740.690.760.42
From discontinued operations 0.10.080.080.070.03
Total attributable to common shareholders 0.70.820.770.830.45
Weighted average basic common shares outstanding 77,373,81778,921,48080,885,25381,264,27382,125,795
Diluted earnings per share attributable to common shareholders 
From continuing operations 0.590.720.660.740.41
From discontinued operations 0.090.080.080.070.03
Total attributable to common shareholders 0.680.80.740.810.44
Weighted average diluted common shares outstanding 78,753,52481,308,14483,393,09083,209,12684,658,309
CONSOLIDATED STATEMENTS OF OPERATIONS 
Net income attributable to the Company 70,53568,81564,92571,62839,068
Other comprehensive income/ (loss), net of tax 
Unrealized gain/ (loss) on securities available-for-sale (7,141)3,736(1,349)(11,358)6,474
Reclassification adjustment for net realized (gain)/ loss included in net income Unrealized gain/ (loss) on securities available-for-sale (1,204)4(139)(331)(152)
Net unrealized gain/ (loss) on securities available-for-sale (7,169)3,740(1,488)(11,689)6,322
Unrealized gain/ (loss) on cash flow hedges 2(2,009)(1,554)(461)(210)
Reclassification adjustment for net realized (gain)/ loss included in net income Unrealized gain/ (loss) on cash flow hedges 281,8492,354979386
Net unrealized gain/ (loss) on cash flow hedges 1,206(160)800518176
Net unrealized gain/ (loss) on other (358)(80)(115)12312
Other comprehensive income/ (loss), net of tax (6,321)3,500(803)(11,048)6,510
Total comprehensive income attributable to the Company, net 64,21472,31564,12260,58045,578


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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