Income Statement

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 2013 Y2014 Y2015 Y2016 Y2017 Q3 YTD
Source Document12/31/201512/31/201612/31/201612/31/20169/30/2017
(in thousands)     
Interest and dividend income 
Loans 191,594191,658192,184201,349169,468
Taxable investment securities 2,0563,1624,4036,2304,831
Non-taxable investment securities 3,1133,7384,7585,7544,925
Mortgage-backed securities 5,4416,92510,93312,41610,266
Federal funds sold and other 9701,3591,3901,8902,347
Total interest and dividend income 203,174206,842213,668227,639191,837
Interest expense 
Deposits 13,39514,10216,00216,57114,836
Federal Home Loan Bank borrowings 10,9639,1087,9598,0087,257
Junior subordinated debentures 4,4083,8723,8752,4272,148
Repurchase agreements and other short-term borrowings 3905962195182
Total interest expense 29,15627,14127,89827,20124,423
Net interest income 174,018179,701185,770200,438167,414
Provision/ (credit) for loan losses (10,000)(6,400)(1,555)(6,935)(6,727)
Net interest income after provision/ (credit) for loan losses 184,018186,101187,325207,373174,141
Fees and other income 
Investment management fees 43,81647,12345,69444,41033,194
Wealth advisory fees 42,35248,08250,43750,58139,063
Wealth management and trust fees 26,54734,58251,30943,98033,606
Other banking fee income 7,4637,0338,44012,0506,384
Gain on sale of loans, net 2,5192,1581,207667366
Gain on repurchase of debt 620NANANANA
Gain/ (loss) on sale of investments, net 49(7)236521486
Gain/ (loss) on OREO, net (13)957124306(46)
Gain on sale of offices 10,574002,862NA
Other 2,4148703,7223,4101,738
Total fees and other income 136,341140,798161,169158,787114,791
Operating expense 
Salaries and employee benefits 140,761146,648159,401163,767134,486
Occupancy and equipment 29,82231,04137,18339,07532,711
Professional services 12,10912,47312,86111,5769,728
Marketing and business development 7,0947,9899,0637,6265,847
Contract services and data processing 5,8275,8166,0377,0244,829
Amortization of intangibles 4,3274,8366,7116,2824,278
Impairment of goodwill NA009,528NA
FDIC insurance 3,7003,4593,9793,4842,292
Restructuring 07393,7242,0170
Other 17,06514,12816,22214,57411,776
Total operating expense 220,705227,129255,181264,953205,947
Income before income taxes 99,65499,77093,313101,20782,985
Income tax expense 32,96332,36530,39230,96324,805
Net income from continuing operations 66,69167,40562,92170,24458,180
Net income from discontinued operations 7,7926,1606,4115,5413,881
Net income before attribution to noncontrolling interests 74,48373,56569,33275,78562,061
Less - Net income attributable to noncontrolling interests 3,9484,7504,4074,1573,190
Net income attributable to the Company 70,53568,81564,92571,62858,871
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)(2,889)
Net income attributable to common shareholders for earnings per share calculation 53,89964,81561,91467,56555,982
Basic earnings per share attributable to common shareholders 
From continuing operations 0.60.740.690.760.63
From discontinued operations
Total attributable to common shareholders 0.70.820.770.830.68
Weighted average basic common shares outstanding 77,373,81778,921,48080,885,25381,264,27382,270,849
Diluted earnings per share attributable to common shareholders 
From continuing operations 0.590.720.660.740.61
From discontinued operations
Total attributable to common shareholders 0.680.80.740.810.66
Weighted average diluted common shares outstanding 78,753,52481,308,14483,393,09083,209,12684,741,172
Net income attributable to the Company 70,53568,81564,92571,62858,871
Other comprehensive income/ (loss), net of tax 
Unrealized gain/ (loss) on securities available-for-sale (7,141)3,736(1,349)(11,358)7,588
Reclassification adjustment for net realized (gain)/ loss included in net income Unrealized gain/ (loss) on securities available-for-sale (1,204)4(139)(331)(293)
Net unrealized gain/ (loss) on securities available-for-sale (7,169)3,740(1,488)(11,689)7,295
Unrealized gain/ (loss) on cash flow hedges 2(2,009)(1,554)(461)(140)
Reclassification adjustment for net realized (gain)/ loss included in net income Unrealized gain/ (loss) on cash flow hedges 281,8492,354979558
Net unrealized gain/ (loss) on cash flow hedges 1,206(160)800518418
Net unrealized gain/ (loss) on other (358)(80)(115)12312
Other comprehensive income/ (loss), net of tax (6,321)3,500(803)(11,048)7,725
Total comprehensive income attributable to the Company, net 64,21472,31564,12260,58066,596

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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