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Income Statement

 2017 Q1 YTD2016 Y2015 Y2014 Y2013 Y
Source Document3/31/201712/31/201612/31/201612/31/201612/31/2015
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
Interest and dividend income 
Interest and fees on loans 17,38258,95345,34237,38221,876
Interest on securities 2,2108,8958,8287,8598,821
Dividends 1571,5964,0683,8942,329
Other 32946314066
Total interest and dividend income 19,78169,53858,30149,27533,092
Interest expense 
Interest on deposits 3,25410,4887,5275,7506,803
Interest on borrowings 6462,0881,2171,1481,168
Total interest expense 3,90012,5768,7446,8987,971
Net interest and dividend income 15,88156,96249,55742,37725,121
Provision (credit) for loan losses 574,8854,0903,3814,094
Net interest and dividend income, after provision (credit) for loan losses 15,82452,07745,46738,99621,027
Non-interest income 
Total other than temporary impairment losses NANANANA(92)
Portion of impairment losses on debt securities recognized in other comprehensive income NANANANA0
Net impairment losses recognized in earnings NA00(307)(92)
Deposit account fees 3201,3271,3141,313579
Interchange and ATM fees 3481,5461,5111,397821
Mortgage banking 7402,4732827841,290
Loan level derivative income 1642,3712,1206601,392
Loss on sales and calls of available-for-sale securities, net (1,022)1,2801,9682,8225,091
Gains on trading assets, net NA0025505
Gain on exchange of investment in Northeast Retirement Services 5,947NANANANA
Bank-owned life insurance income 2571,0481,0311,0061,023
Bank-owned life insurance death benefit gains NA50601821,872
Pension curtailment gain NA001,3040
Miscellaneous 621,576453421530
Total non-interest income 6,81612,1278,6799,60713,011
Non-interest expense 
Salaries and employee benefits 7,56328,85322,57021,30816,903
Occupancy and equipment 2,1157,3706,2675,3053,996
Data processing 1,0443,4603,5102,9891,934
Professional fees 8692,6382,6893,5513,348
Advertising 3672,4232,4582,4271,823
FDIC deposit insurance 2121,1259991,266520
Directors' fees 3741,458644486688
Amortization of core deposit intangible 2471,2251,6071,8080
Charitable foundation contribution NA007,000120
Other general and administrative 6093,1943,3383,2682,327
Total non-interest expense 13,40051,74644,08249,40831,659
Income before income taxes 9,24012,45810,064(805)2,379
Provision for income taxes 1,7533,8052,837(622)(284)
Net income 7,4878,6537,227(183)2,663
Earnings per common share 
Basic 0.310.350.28NANA
Diluted 0.310.350.28NANA
Weighted average shares outstanding 
Basic 23,911,41924,420,40526,064,947NANA
Diluted 24,275,66524,540,92926,069,589NANA
Consolidated Statements of Net Income 
Net income 7,4878,6537,227(183)2,663
Other comprehensive income 
Securities available for sale 
Change in unrealized holding gains 1,8033,849(8,332)4,942(9,256)
Reclassification adjustment for net losses realized in net income 1,022(1,235)(1,968)(2,515)(4,999)
Reclassification of unrealized gains on securities transferred to held to maturity NA0(666)00
Net change in unrealized gains 2,8252,614(10,966)2,427(14,255)
Tax effect (904)(938)3,818(1,018)5,433
Net-of-tax amount 1,9211,676(7,148)1,409(8,822)
Securities held to maturity 
Reclassification of unrealized gains on securities transferred from available-for-sale NA066600
Reclassification adjustment for amortization of amounts previously recorded upon transfer from available for sale (23)(234)(95)00
Net change in unrealized gains NA(234)57100
Tax effect (4)83(197)00
Net-of-tax amount (27)(151)37400
Defined benefit pension plan 
Losses arising during the period NA(895)(1,610)(2,090)2,033
Reclassification adjustment for net actuarial loss recognized in net periodic benefit cost 89271110(70)104
Net losses NA(624)(1,500)(2,160)2,137
Tax effect (59)218509863(853)
Net-of-tax amount 30(406)(991)(1,297)1,284
Other comprehensive income 1,9241,119(7,765)112(7,538)
Comprehensive income 9,4119,772(538)(71)(4,875)


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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