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Income Statement

 2017 Q2 YTD2016 Y2015 Y2014 Y2013 Y
Source Document6/30/201712/31/201612/31/201612/31/201612/31/2015
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
Interest and dividend income 
Interest and fees on loans 36,09758,95345,34237,38221,876
Interest on securities 3,7828,8958,8287,8598,821
Dividends 3501,5964,0683,8942,329
Other 126946314066
Total interest and dividend income 40,35569,53858,30149,27533,092
Interest expense 
Interest on deposits 6,77710,4887,5275,7506,803
Interest on borrowings 1,2892,0881,2171,1481,168
Total interest expense 8,06612,5768,7446,8987,971
Net interest and dividend income 32,28956,96249,55742,37725,121
Provision for loan losses 1,1754,8854,0903,3814,094
Net interest and dividend income, after provision for loan losses 31,11452,07745,46738,99621,027
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 6611,3271,3141,313579
Interchange and ATM fees 7361,5461,5111,397821
Mortgage banking 1,9592,4732827841,290
Loan level derivative income 1,5312,3712,1206601,392
Gain (loss) on sales and calls of available-for-sale securities, net (94)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 5181,0481,0311,0061,023
Bank-owned life insurance death benefit gains 050601821,872
Pension curtailment gain NA001,3040
Miscellaneous 681,576453421530
Total non-interest income 11,32612,1278,6799,60713,011
Non-interest expense 
Salaries and employee benefits 15,22728,85322,57021,30816,903
Occupancy and equipment 4,1457,3706,2675,3053,996
Data processing 2,0663,4603,5102,9891,934
Professional fees 1,3952,6382,6893,5513,348
Advertising 8562,4232,4582,4271,823
FDIC deposit insurance 4351,1259991,266520
Directors' fees 8021,458644486688
Amortization of core deposit intangible 4691,2251,6071,8080
Charitable foundation contribution NA007,000120
Other general and administrative 1,3713,1943,3383,2682,327
Total non-interest expense 26,76651,74644,08249,40831,659
Income before income taxes 15,67412,45810,064(805)2,379
Provision for income taxes 4,3193,8052,837(622)(284)
Net income 11,3558,6537,227(183)2,663
Earnings per common share 
Basic 0.470.350.28NANA
Diluted 0.470.350.28NANA
Weighted average shares outstanding 
Basic 23,932,04424,420,40526,064,947NANA
Diluted 24,311,22224,540,92926,069,589NANA
Consolidated Statements of Comprehensive Income 
Net income 11,3558,6537,227(183)2,663
Other comprehensive income 
Securities available-for-sale 
Change in unrealized holding gains 3,9933,849(8,332)4,942(9,256)
Reclassification adjustment for net (gains) losses realized in net income 94(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 4,0872,614(10,966)2,427(14,255)
Tax effect (1,427)(938)3,818(1,018)5,433
Net-of-tax amount 2,6601,676(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 (45)(234)(95)00
Net change in unrealized gains NA(234)57100
Tax effect 583(197)00
Net-of-tax amount (40)(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 178271110(70)104
Net losses NA(624)(1,500)(2,160)2,137
Tax effect (90)218509863(853)
Net-of-tax amount 88(406)(991)(1,297)1,284
Other comprehensive income 2,7081,119(7,765)112(7,538)
Comprehensive income 14,0639,772(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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