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 Income Statement

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 2010 Y2011 Y2012 Y2013 Y2014 Q3 YTD
Source Document12/31/201212/31/201312/31/201312/31/20139/30/2014
(in thousands)     
Interest Income 
Loans 88,62878,64872,62168,07750,894
Investment securities 
Taxable 4,0704,5714,2412,6952,560
Non-taxable 1,9852,5152,8822,9012,295
Interest-bearing deposits 303466300282283
FHLB stock dividends 879867899826502
Total interest income 95,86587,06780,94374,78156,534
Interest Expense 
Deposits 19,22212,1758,1695,9133,989
FHLB advances and other 4,7113,2032,424434397
Subordinated debentures 1,3141,278971601439
Notes payable 455530373222121
Total interest expense 25,70217,18611,9377,1704,946
Net interest income 70,16369,88169,00667,61151,588
Provision for loan losses 23,17712,43410,9241,824955
Net interest income after provision for loan losses 46,98657,44758,08265,78750,633
Non-interest Income 
Service fees and other charges 12,74011,38710,77910,0457,492
Insurance income 5,1407,1098,6769,6277,640
Mortgage banking income 7,8476,4379,6658,4434,332
Gain on sale of non-mortgage loans 5163617010179
Gain on sale or call of securities (8)2182,13997931
Other-than-temporary impairment (OTTI) losses on investment securities 
Total gains (impairment losses) on investment securities (367)(44)(31)(337)NA
Losses recognized in other comprehensive income 3642260NA
Net impairment loss recognized in earnings (331)(2)(5)(337)NA
Trust income 507599616761895
Income from Bank Owned Life Insurance 1,1469299248831,584
Other non-interest income 334781,5109501,346
Total non-interest income 27,59027,51634,37430,57024,299
Non-interest Expense 
Compensation and benefits 27,40331,55432,56634,30126,468
Occupancy 7,0487,1667,5786,7624,905
FDIC insurance premium 3,7662,9222,6911,6161,088
Financial institutions tax NANANANA1,524
Data processing 4,9094,2574,6605,1254,333
Acquisition related charges 6323400NA
Amortization of intangibles NANANANA832
Other non-interest expense 20,27416,63118,28517,04010,639
Total non-interest expense 63,46362,76465,78064,84449,789
Income before income taxes 11,11322,19926,67631,51325,143
Federal income taxes 3,0056,6658,0129,2787,206
Net Income 8,10815,53418,66422,23517,937
Dividends Accrued on Preferred Shares (1,850)(1,850)(900)0NA
Accretion on Preferred Shares (170)(178)(359)0NA
Redemption of Preferred Shares 006420NA
Net Income Applicable to Common Shares 6,08813,50618,04722,235NA
Earnings per common share 
Basic 0.751.441.862.281.87
Diluted 0.751.421.812.191.79
Dividends declared per share
Average common shares outstanding 
Basic NANANANA9,577
Diluted NANANANA10,031
Consolidated Condensed Statements of Comprehensive Income 
Net Income 8,10815,53418,66422,23517,937
Other comprehensive income (loss) 
Unrealized gains (losses) on securities available for sale (1,010)7,4042,360(6,309)5,172
Reclassification adjustment for security gains included in net income 8(218)(2,139)(97)(931)
Other-than-temporary impairment losses on AFS securities realized in income 33125337NA
Net unrealized gains (losses) (671)7,188226(6,069)NA
Income tax benefit (expense) 235(2,516)(79)2,124(1,485)
Net of tax amount (436)4,672147(3,945)NA
Other comprehensive income (loss) (184)4,339277(3,729)2,756
Change in unrealized gain on postretirement benefit 
Net gain (loss) on defined benefit postretirement medical plan realized during the period 349(537)148287NA
Net amortization and deferral 39255146NA
Net gain (loss) activity during the period 388(512)199333NA
Income tax effect (136)179(69)(117)NA
Net of tax amount 252(333)130216NA
Comprehensive income 7,92419,87318,94118,50620,693

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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