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 Income Statement

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 2010 Y2011 Y2012 Y2013 Y2014 Q2 YTD
Source Document12/31/201212/31/201312/31/201312/31/20136/30/2014
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
Interest Income 
Loans 88,62878,64872,62168,07733,529
Investment securities 
Taxable 4,0704,5714,2412,6951,627
Non-taxable 1,9852,5152,8822,9011,508
Interest-bearing deposits 303466300282219
FHLB stock dividends 879867899826365
Total interest income 95,86587,06780,94374,78137,248
Interest Expense 
Deposits 19,22212,1758,1695,9132,685
FHLB advances and other 4,7113,2032,424434266
Subordinated debentures 1,3141,278971601292
Notes payable 45553037322280
Total interest expense 25,70217,18611,9377,1703,323
Net interest income 70,16369,88169,00667,61133,925
Provision for loan losses 23,17712,43410,9241,824549
Net interest income after provision for loan losses 46,98657,44758,08265,78733,376
Non-interest Income 
Service fees and other charges 12,74011,38710,77910,0454,832
Insurance and investment commission income 5,1407,1098,6769,6275,274
Mortgage banking income 7,8476,4379,6658,4432,787
Gain on sale of non-mortgage loans 5163617010139
Gain on sale or call of securities (8)2182,13997471
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 507599616761580
Income from Bank Owned Life Insurance 1,146929924883454
Other non-interest income 334781,510950506
Total non-interest income 27,59027,51634,37430,57014,943
Non-interest Expense 
Compensation and benefits 27,40331,55432,56634,30117,181
Occupancy 7,0487,1667,5786,7623,292
FDIC insurance premium 3,7662,9222,6911,616738
State franchise tax NANANANA1,009
Data processing 4,9094,2574,6605,1252,844
Acquisition related charges 6323400NA
Amortization of intangibles NANANANA563
Other non-interest expense 20,27416,63118,28517,0407,391
Total non-interest expense 63,46362,76465,78064,84433,018
Income before income taxes 11,11322,19926,67631,51315,301
Federal income taxes 3,0056,6658,0129,2784,433
Net Income 8,10815,53418,66422,23510,868
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 0.751.441.862.281.13
Diluted 0.751.421.812.191.08
Dividends declared per share 00.050.20.40.3
Average common shares outstanding 
Basic NANANANA9,644
Diluted NANANANA10,096
Consolidated Condensed Statements of Comprehensive Income 
Net Income 8,10815,53418,66422,23510,868
Other comprehensive income (loss) 
Unrealized gains (losses) on securities available for sale (1,010)7,4042,360(6,309)4,465
Reclassification adjustment for security gains included in net income 8(218)(2,139)(97)(471)
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(1,397)
Net of tax amount (436)4,672147(3,945)NA
Other comprehensive income (loss) (184)4,339277(3,729)2,597
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 7,92419,87318,94118,50613,465


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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