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Income Statement

 2018 Q1 YTD2017 Y2016 Y2015 Y2014 Y
Source Document3/31/201812/31/201712/31/201712/31/201712/31/2016
(in thousands)     
Interest and dividend income 
Interest and fees on loans 21,80976,70158,95345,34237,382
Interest on securities 1,8577,1108,8958,8287,859
Dividends 2047331,5964,0683,894
Other 782319463140
Total interest and dividend income 23,94884,77569,53858,30149,275
Interest expense 
Interest on deposits 4,77515,21510,4887,5275,750
Interest on borrowings 8142,5232,0881,2171,148
Total interest expense 5,58917,73812,5768,7446,898
Net interest and dividend income 18,35967,03756,96249,55742,377
Provision (credit) for loan losses (460)2,0984,8854,0903,381
Net interest and dividend income, after provision (credit) for loan losses 18,81964,93952,07745,46738,996
Non-interest income 
Net impairment losses recognized in earnings NANANANA(307)
Deposit account fees 3551,4181,3271,3141,313
Interchange and ATM fees 3911,6091,5461,5111,397
Mortgage banking 7403,6572,473282784
Loss on sale of purchased home equity portfolio NA(118)00NA
Loan level derivative income 2402,7922,3712,120660
Net unrealized losses on equity securities (69)NANANANA
Loss on sales of available for sale securities, net 0(94)1,2801,9682,822
Gains on trading assets, net NANANANA25
Gain on exchange of investment in Northeast Retirement Services 6535,94700NA
Bank-owned life insurance income 2761,0631,0481,0311,006
Bank-owned life insurance death benefit gains NA05060182
Pension curtailment gain NANANANA1,304
Gain on sale of premises and equipment 271NANANANA
Miscellaneous 1,0418081,576453421
Total non-interest income 3,89817,08212,1278,6799,607
Non-interest expense 
Salaries and employee benefits 8,38231,27828,85322,57021,308
Occupancy and equipment 2,0838,3937,3706,2675,305
Data processing 1,0444,1493,4603,5102,989
Professional fees 4532,2752,6382,6893,551
Advertising 3041,9222,4232,4582,427
FDIC deposit insurance 2338811,1259991,266
Directors' fees 4091,5661,458644486
Amortization of core deposit intangible 1518431,2251,6071,808
Charitable foundation contribution NANANANA7,000
Other general and administrative 8122,9993,1943,3383,268
Total non-interest expense 13,87154,30651,74644,08249,408
Income before income taxes 8,84627,71512,45810,064(805)
Provision for income taxes 2,26311,2263,8052,837(622)
Net income 6,58316,4898,6537,227(183)
Earnings per common share 
Basic 0.270.690.350.28NA
Diluted 0.270.670.350.28NA
Weighted average shares outstanding 
Basic 24,172,23723,985,82224,420,40526,064,947NA
Diluted 24,827,85024,482,41424,540,92926,069,589NA
Consolidated Statements of Comprehensive Income 
Net income 6,58316,4898,6537,227(183)
Other comprehensive income 
Securities available for sale 
Change in unrealized holding gains 03,2763,849(8,332)4,942
Reclassification adjustment for net losses realized in net income 094(1,235)(1,968)(2,515)
Reclassification of unrealized gains on securities transferred to held to maturity NA00(666)0
Net change in unrealized gains 03,3702,614(10,966)2,427
Tax effect 0(1,147)(938)3,818(1,018)
Net-of-tax amount 02,2231,676(7,148)1,409
Securities held to maturity 
Reclassification of unrealized gains on securities transferred from available for sale NA006660
Reclassification adjustment for amortization of amounts previously recorded upon transfer from available for sale (18)(87)(234)(95)0
Net change in unrealized gains NA(87)(234)5710
Tax effect 54883(197)0
Net-of-tax amount (13)(39)(151)3740
Defined benefit pension plan 
Gains (losses) arising during the period NA491(895)(1,610)(2,090)
Reclassification adjustment for net actuarial loss recognized in net periodic benefit cost 66297271110(70)
Net gains (losses) NA788(624)(1,500)(2,160)
Tax effect (19)(356)218509863
Net-of-tax amount 47432(406)(991)(1,297)
Other comprehensive income 342,6161,119(7,765)112
Comprehensive income 6,61719,1059,772(538)(71)

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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