Income Statement

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 2013 Y2014 Y2015 Y2016 Y
Source Document12/31/201512/31/201612/31/201612/31/2016
(in thousands)    
Interest income 
Interest and fees on loans 96,60095,49287,63287,718
Interest on securities - taxable 7,8755,9754,2253,229
Interest on securities - tax-exempt 4,7904,3503,9783,624
Interest on deposits in banks 211291267153
Total interest income 109,476106,10896,10294,724
Interest expense 
Interest on deposits 8,8237,3085,8784,479
Interest on short-term borrowings 2,2222,0241,9522,101
Interest on long-term debt 6,7895,9583,5193,264
Total interest expense 17,83415,29011,3499,844
Net interest income 91,64290,81884,75384,880
Provision for loan losses 8,2081452,1911,255
Net interest income after provision for loan losses 83,43490,67382,56283,625
Noninterest income 
Wealth management 3,4123,0302,9752,828
Service charges on deposits 13,55813,82813,71713,588
Other service charges and fees 7,1517,5818,0458,102
Insurance commissions 5,9336,5556,8995,442
Impairment losses on securities (320)(737)0(4,646)
Portion of loss recognized in other comprehensive income 0000
Net impairment losses recognized in earnings (320)(737)0(4,646)
Net gain (loss) on sale of securities 399(1,385)144335
Net FDIC indemnification asset amortization (5,597)(3,979)(6,379)(5,474)
Net gain on divestitures 075503,682
Other operating income 5,2354,3554,1293,209
Total noninterest income 29,77130,00329,53027,066
Noninterest expense 
Salaries and employee benefits 41,23540,71339,62539,912
Occupancy expense 7,0336,3385,8175,297
Furniture and equipment expense 4,9664,9525,1994,341
Amortization of intangibles 7297871,1181,136
FDIC premiums and assessments 1,7171,6721,5131,383
FHLB debt prepayment fees 05,0081,7020
Merger, acquisition, and divestiture expense 571,15086730
Other operating expense 23,24822,24221,11119,947
Total noninterest expense 78,98582,86276,17172,746
Income before income taxes 34,22037,81435,92137,945
Income tax expense 10,90812,32411,38112,819
Net income 23,31225,49024,54025,126
Dividends on preferred stock 1,0249101050
Net income available to common shareholders 22,28824,58024,43525,126
Earnings per common share 
Basic 1.131.341.321.45
Diluted 1.111.311.311.45
Cash dividends per common share 0.480.50.540.6
Weighted average shares outstanding 
Basic 19,792,09918,406,36318,531,03917,319,689
Diluted 20,961,80019,483,05418,727,46417,365,524
Net income 23,31225,49024,54025,126
Other comprehensive income, before tax 
Available-for-sale securities 
Change in net unrealized losses on securities with other-than-temporary impairment (1,277)(1)00
Change in net unrealized gains on securities without other-than-temporary impairment (19,964)12,9147551,035
Reclassification adjustment for net (gains) losses recognized in net income (399)1,385(144)(335)
Reclassification adjustment for other-than-temporary impairment losses recognized in net income 32073704,646
Net unrealized gains on available-for-sale securities (21,320)15,0356115,346
Employee benefit plans 
Net actuarial loss 758(642)(363)(367)
Plan change (380)00(69)
Reclassification adjustment for amortization of prior service cost and net actuarial loss recognized in net income 327260326273
Net unrealized losses on employee benefit plans 705(382)(37)(163)
Other comprehensive income, before tax (20,615)14,6535745,183
Income tax expense 7,700(5,518)(216)(1,947)
Other comprehensive income, net of tax (12,915)9,1353583,236
Total comprehensive income 10,39734,62524,89828,362

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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