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 Income Statement

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 2010 Y2011 Y2012 Y2013 Y2014 Q1 YTD
Source Document12/31/201212/31/201312/31/201312/31/20133/31/2014
(in thousands)     
Interest Income 
Loans 88,62878,64872,62168,07716,651
Investment securities 
Taxable 4,0704,5714,2412,695775
Non-taxable 1,9852,5152,8822,901752
Interest-bearing deposits 303466300282101
FHLB stock dividends 879867899826195
Total interest income 95,86587,06780,94374,78118,474
Interest Expense 
Deposits 19,22212,1758,1695,9131,358
FHLB advances and other 4,7113,2032,424434133
Subordinated debentures 1,3141,278971601146
Securities sold under repurchase agreements 45553037322241
Total interest expense 25,70217,18611,9377,1701,678
Net interest income 70,16369,88169,00667,61116,796
Provision for loan losses 23,17712,43410,9241,824103
Net interest income after provision for loan losses 46,98657,44758,08265,78716,693
Non-interest Income 
Service fees and other charges 12,74011,38710,77910,0452,324
Insurance commission income 5,1407,1098,6769,6273,030
Mortgage banking income 7,8476,4379,6658,4431,247
Gain on sale of non-mortgage loans 516361701013
Gain on sale or call of securities (8)2182,139970
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 507599616761278
Income from Bank Owned Life Insurance 1,146929924883219
Other non-interest income 334781,510950225
Total non-interest income 27,59027,51634,37430,5707,326
Non-interest Expense 
Compensation and benefits 27,40331,55432,56634,3018,472
Occupancy 7,0487,1667,5786,7621,588
FDIC insurance premium 3,7662,9222,6911,616385
State franchise tax NANANANA495
Data processing 4,9094,2574,6605,1251,365
Acquisition related charges 6323400NA
Amortization of intangibles NANANANA289
Other non-interest expense 20,27416,63118,28517,0404,067
Total non-interest expense 63,46362,76465,78064,84416,661
Income before income taxes 11,11322,19926,67631,5137,358
Federal income taxes 3,0056,6658,0129,2782,179
Net Income 8,10815,53418,66422,2355,179
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 0.751.441.862.280.53
Diluted 0.751.421.812.190.51
Dividends declared per share
Average common shares outstanding 
Basic NANANANA9,681
Diluted NANANANA10,108
Consolidated Condensed Statements of Comprehensive Income 
Net income 8,10815,53418,66422,2355,179
Other comprehensive income (loss) 
Unrealized gains (losses) on securities available for sale (1,010)7,4042,360(6,309)1,723
Reclassification adjustment for security gains included in net income 8(218)(2,139)(97)0
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(603)
Net of tax amount (436)4,672147(3,945)NA
Other comprehensive income (loss) (184)4,339277(3,729)1,120
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 7,92419,87318,94118,5066,299

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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