Attached files
| First Midwest Bancorp, Inc. | Exhibit 99.2 | |
| Selected Financial Information | ||
| (Amounts in thousands, except per share data) | ||
| 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||||||||||||||||||||||||||||
| Dec. 31/YTD |
4th Quarter |
3rd Quarter |
2nd Quarter |
1st Quarter |
Dec. 31/YTD |
4th Quarter |
3rd Quarter |
2nd Quarter |
1st Quarter |
Dec. 31/YTD |
Dec. 31/YTD |
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| Period-End Balance Sheet |
||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets |
$ | 8,146,973 | $ | 8,146,973 | $ | 8,376,494 | $ | 7,805,089 | $ | 7,592,907 | $ | 7,710,672 | $ | 7,710,672 | $ | 7,678,434 | $ | 7,767,312 | $ | 8,252,576 | $ | 8,528,341 | $ | 8,091,518 | ||||||||||||||||||||||||
| Securities HTM - amortized cost |
81,320 | 81,320 | 85,687 | 87,843 | 90,449 | 84,182 | 84,182 | 83,860 | 86,245 | 81,566 | 84,306 | 97,671 | ||||||||||||||||||||||||||||||||||||
| Securities AFS - fair market value |
1,057,802 | 1,057,802 | 1,058,609 | 1,090,109 | 1,152,039 | 1,266,760 | 1,266,760 | 1,349,669 | 1,450,082 | 1,901,919 | 2,216,186 | 2,080,046 | ||||||||||||||||||||||||||||||||||||
| FHLB and FRB stock |
61,338 | 61,338 | 62,038 | 59,864 | 59,428 | 56,428 | 56,428 | 54,768 | 54,768 | 54,768 | 54,767 | 54,767 | ||||||||||||||||||||||||||||||||||||
| Loans: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial |
1,465,903 | 1,465,903 | 1,472,439 | 1,494,119 | 1,454,714 | 1,438,063 | 1,438,063 | 1,484,601 | 1,457,413 | 1,508,175 | 1,490,101 | 1,347,481 | ||||||||||||||||||||||||||||||||||||
| Agricultural |
227,756 | 227,756 | 212,800 | 199,597 | 200,527 | 209,945 | 209,945 | 200,955 | 210,675 | 219,178 | 216,814 | 235,498 | ||||||||||||||||||||||||||||||||||||
| Real estate - office, retail, and industrial |
1,203,613 | 1,203,613 | 1,215,649 | 1,220,191 | 1,239,583 | 1,212,965 | 1,212,965 | 1,151,276 | 1,117,748 | 1,086,987 | 1,025,241 | 824,078 | ||||||||||||||||||||||||||||||||||||
| Real estate - residential construction |
174,690 | 174,690 | 226,126 | 241,094 | 276,322 | 313,919 | 313,919 | 400,502 | 458,913 | 466,195 | 509,059 | 505,194 | ||||||||||||||||||||||||||||||||||||
| Real estate - commercial construction |
76,089 | 76,089 | 98,562 | 107,572 | 138,994 | 134,680 | 134,680 | 196,198 | 204,042 | 232,675 | 258,253 | 244,904 | ||||||||||||||||||||||||||||||||||||
| Real estate - commercial land |
88,383 | 88,383 | 94,479 | 94,469 | 94,668 | 96,838 | 96,838 | 105,264 | 121,383 | 107,540 | 98,322 | 143,289 | ||||||||||||||||||||||||||||||||||||
| Real estate - multifamily |
349,862 | 349,862 | 350,458 | 369,281 | 348,178 | 333,961 | 333,961 | 342,807 | 305,976 | 311,865 | 286,963 | 217,266 | ||||||||||||||||||||||||||||||||||||
| Real estate - other commercial |
856,357 | 856,357 | 837,877 | 831,723 | 790,502 | 798,983 | 798,983 | 753,429 | 759,132 | 725,311 | 729,329 | 661,480 | ||||||||||||||||||||||||||||||||||||
| Real estate - 1-4 family |
160,890 | 160,890 | 150,110 | 145,457 | 139,840 | 139,983 | 139,983 | 138,862 | 171,186 | 185,486 | 198,197 | 220,741 | ||||||||||||||||||||||||||||||||||||
| Consumer |
497,017 | 497,017 | 506,166 | 504,844 | 512,546 | 523,909 | 523,909 | 532,174 | 534,303 | 543,716 | 547,784 | 563,741 | ||||||||||||||||||||||||||||||||||||
| Total loans |
5,100,560 | 5,100,560 | 5,164,666 | 5,208,347 | 5,195,874 | 5,203,246 | 5,203,246 | 5,306,068 | 5,340,771 | 5,387,128 | 5,360,063 | 4,963,672 | ||||||||||||||||||||||||||||||||||||
| Other Assets: |
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| Covered assets |
493,319 | 493,319 | 519,305 | 251,572 | 207,609 | 223,245 | 223,245 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| Bank owned life insurance |
197,644 | 197,644 | 198,666 | 198,399 | 198,201 | 197,962 | 197,962 | 197,681 | 197,564 | 199,070 | 198,533 | 203,535 | ||||||||||||||||||||||||||||||||||||
| Goodwill and other intangibles |
291,383 | 291,383 | 292,523 | 281,255 | 280,477 | 281,479 | 281,479 | 281,614 | 282,592 | 283,570 | 284,548 | 288,235 | ||||||||||||||||||||||||||||||||||||
| Deposits: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Demand deposits |
1,329,505 | 1,329,505 | 1,284,940 | 1,188,356 | 1,129,777 | 1,133,756 | 1,133,756 | 1,069,870 | 1,058,553 | 1,046,660 | 1,040,763 | 1,064,684 | ||||||||||||||||||||||||||||||||||||
| Interest bearing deposits |
5,181,971 | 5,181,971 | 5,392,319 | 4,935,209 | 4,734,327 | 4,751,523 | 4,751,523 | 4,679,283 | 4,708,103 | 4,461,722 | 4,544,991 | 4,714,177 | ||||||||||||||||||||||||||||||||||||
| Total deposits |
6,511,476 | 6,511,476 | 6,677,259 | 6,123,565 | 5,864,104 | 5,885,279 | 5,885,279 | 5,749,153 | 5,766,656 | 5,508,382 | 5,585,754 | 5,778,861 | ||||||||||||||||||||||||||||||||||||
| Fed funds purchased and repurchase agreements |
166,474 | 166,474 | 185,577 | 191,036 | 239,355 | 238,390 | 238,390 | 265,917 | 566,794 | 685,016 | 737,598 | 665,164 | ||||||||||||||||||||||||||||||||||||
| Other borrowed funds |
137,500 | 137,500 | 137,500 | 137,434 | 147,808 | 452,786 | 452,786 | 450,382 | 225,382 | 850,736 | 960,736 | 599,064 | ||||||||||||||||||||||||||||||||||||
| Subordinated debt |
137,744 | 137,744 | 137,741 | 137,739 | 137,737 | 137,735 | 137,735 | 157,717 | 232,342 | 232,375 | 232,409 | 230,082 | ||||||||||||||||||||||||||||||||||||
| Stockholders’ equity |
1,112,045 | 1,112,045 | 1,160,059 | 1,155,512 | 1,143,768 | 941,521 | 941,521 | 983,579 | 892,053 | 903,612 | 908,279 | 723,975 | ||||||||||||||||||||||||||||||||||||
| Stockholders’ equity, excluding OCI |
1,139,784 | 1,139,784 | 1,169,262 | 1,168,315 | 1,162,646 | 960,187 | 960,187 | 999,796 | 941,535 | 941,082 | 926,321 | 735,702 | ||||||||||||||||||||||||||||||||||||
| Stockholders’ equity, common |
919,045 | 919,045 | 967,059 | 962,512 | 950,768 | 748,521 | 748,521 | 790,579 | 699,053 | 710,612 | 715,949 | 723,975 | ||||||||||||||||||||||||||||||||||||
| Stockholders’ equity, common excluding OCI |
946,784 | 946,784 | 976,262 | 975,315 | 969,646 | 767,187 | 767,187 | 806,796 | 748,535 | 748,082 | 733,991 | 735,702 | ||||||||||||||||||||||||||||||||||||
| Stockholders’ equity, preferred |
193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 192,330 | — | ||||||||||||||||||||||||||||||||||||
| Trust assets under management |
4,467,917 | 4,467,917 | 4,272,051 | 3,982,469 | 3,994,772 | 3,801,609 | 3,801,609 | 3,879,305 | 3,635,103 | 3,374,292 | 3,527,028 | 3,666,047 | ||||||||||||||||||||||||||||||||||||
| Average Balance Sheet |
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| Total assets |
$ | 8,024,654 | $ | 8,314,634 | $ | 8,203,617 | $ | 7,905,364 | $ | 7,665,781 | $ | 8,064,109 | $ | 7,764,163 | $ | 7,877,055 | $ | 8,195,690 | $ | 8,428,879 | $ | 8,225,440 | $ | 8,091,333 | ||||||||||||||||||||||||
| Securities - HTM taxable |
11,079 | 8,944 | 12,540 | 14,736 | 8,072 | 8,520 | 11,625 | 7,396 | 7,454 | 7,571 | 7,670 | 9,450 | ||||||||||||||||||||||||||||||||||||
| Securities - HTM tax-exempt |
75,787 | 74,377 | 73,520 | 77,490 | 77,821 | 77,464 | 77,834 | 77,470 | 79,129 | 75,398 | 84,718 | 88,099 | ||||||||||||||||||||||||||||||||||||
| Securities - AFS taxable |
527,129 | 529,036 | 511,042 | 494,373 | 574,746 | 890,848 | 652,354 | 711,552 | 990,358 | 1,217,308 | 1,171,264 | 1,268,389 | ||||||||||||||||||||||||||||||||||||
| Securities - AFS tax-exempt |
593,041 | 526,770 | 581,692 | 626,856 | 638,193 | 770,380 | 660,076 | 721,872 | 810,485 | 892,169 | 936,933 | 906,905 | ||||||||||||||||||||||||||||||||||||
| FHLB and FRB stock |
60,249 | 61,703 | 60,998 | 59,758 | 58,495 | 55,081 | 56,013 | 54,768 | 54,768 | 54,768 | 54,767 | 54,774 | ||||||||||||||||||||||||||||||||||||
| Total loans |
5,191,154 | 5,155,416 | 5,207,419 | 5,204,566 | 5,197,499 | 5,348,979 | 5,304,690 | 5,346,769 | 5,366,393 | 5,378,905 | 5,149,879 | 4,943,479 | ||||||||||||||||||||||||||||||||||||
| Covered loans |
323,595 | 480,612 | 367,727 | 233,907 | 208,663 | 28,049 | 111,281 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| Other earning assets |
382,023 | 609,391 | 464,793 | 314,480 | 55,275 | 102,801 | 52,324 | 210,667 | 129,716 | 16,921 | 35,310 | 30,507 | ||||||||||||||||||||||||||||||||||||
| Total earning assets |
7,164,057 | 7,446,249 | 7,279,731 | 7,026,166 | 6,818,764 | 7,282,122 | 6,926,197 | 7,130,494 | 7,438,303 | 7,643,040 | 7,440,541 | 7,301,603 | ||||||||||||||||||||||||||||||||||||
| Deposits: |
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| Demand deposits |
1,224,629 | 1,348,188 | 1,242,257 | 1,181,097 | 1,124,320 | 1,061,208 | 1,115,096 | 1,056,188 | 1,044,033 | 1,028,617 | 1,043,972 | 1,055,251 | ||||||||||||||||||||||||||||||||||||
| Savings deposits |
815,371 | 864,334 | 832,672 | 803,353 | 759,786 | 751,386 | 744,876 | 749,995 | 762,375 | 748,350 | 792,524 | 754,009 | ||||||||||||||||||||||||||||||||||||
| NOW accounts |
1,082,774 | 1,075,642 | 1,173,347 | 1,157,246 | 922,179 | 984,529 | 953,772 | 1,062,708 | 1,026,432 | 893,687 | 935,429 | 900,956 | ||||||||||||||||||||||||||||||||||||
| Money market deposits |
1,199,362 | 1,302,325 | 1,226,314 | 1,155,889 | 1,110,519 | 937,766 | 1,079,943 | 995,132 | 903,728 | 768,202 | 787,218 | 859,864 | ||||||||||||||||||||||||||||||||||||
| Core transactional deposits |
4,322,136 | 4,590,489 | 4,474,590 | 4,297,585 | 3,916,804 | 3,734,889 | 3,893,687 | 3,864,023 | 3,736,568 | 3,438,856 | 3,559,143 | 3,570,080 | ||||||||||||||||||||||||||||||||||||
| Time deposits > $100,000 |
645,121 | 644,062 | 641,302 | 645,624 | 649,600 | 703,487 | 677,171 | 697,421 | 741,356 | 698,301 | 802,500 | 827,907 | ||||||||||||||||||||||||||||||||||||
| Time deposits < $100,000 |
1,346,516 | 1,425,327 | 1,381,419 | 1,270,492 | 1,307,145 | 1,297,720 | 1,331,556 | 1,241,024 | 1,247,992 | 1,371,370 | 1,369,879 | 1,491,995 | ||||||||||||||||||||||||||||||||||||
| Total time deposits |
1,991,637 | 2,069,389 | 2,022,721 | 1,916,116 | 1,956,745 | 2,001,207 | 2,008,727 | 1,938,445 | 1,989,348 | 2,069,671 | 2,172,379 | 2,319,902 | ||||||||||||||||||||||||||||||||||||
| Total deposits |
6,313,773 | 6,659,878 | 6,497,311 | 6,213,701 | 5,873,549 | 5,736,096 | 5,902,414 | 5,802,468 | 5,725,916 | 5,508,527 | 5,731,522 | 5,889,982 | ||||||||||||||||||||||||||||||||||||
| FFP, repos, other borrowed funds |
359,174 | 281,050 | 337,905 | 342,808 | 477,323 | 1,118,792 | 661,976 | 870,397 | 1,261,949 | 1,694,928 | 1,438,908 | 1,131,700 | ||||||||||||||||||||||||||||||||||||
| Subordinated debt |
137,739 | 137,743 | 137,740 | 137,738 | 137,736 | 208,621 | 143,816 | 226,693 | 232,358 | 232,391 | 231,961 | 227,756 | ||||||||||||||||||||||||||||||||||||
| Total funding sources |
6,810,686 | 7,078,671 | 6,972,956 | 6,694,247 | 6,488,608 | 7,063,509 | 6,708,206 | 6,899,558 | 7,220,223 | 7,435,846 | 7,402,391 | 7,249,438 | ||||||||||||||||||||||||||||||||||||
| Stockholders’ equity |
1,148,219 | 1,156,263 | 1,163,661 | 1,152,394 | 1,119,866 | 927,673 | 983,595 | 905,347 | 907,421 | 913,809 | 764,731 | 750,111 | ||||||||||||||||||||||||||||||||||||
| Stockholders’ equity, common |
955,219 | 963,263 | 970,661 | 959,394 | 926,866 | 734,673 | 790,595 | 712,347 | 714,421 | 720,809 | 750,497 | 750,111 | ||||||||||||||||||||||||||||||||||||
| Stockholders’ equity, preferred |
193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 14,234 | — | ||||||||||||||||||||||||||||||||||||
| First Midwest Bancorp, Inc. | ||||
| Selected Financial Information | ||||
| (Amounts in thousands, except per share data) | ||||
| 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||||||||||||||||||||||||||||
| Dec. 31/YTD |
4th Quarter |
3rd Quarter |
2nd Quarter |
1st Quarter |
Dec. 31/YTD |
4th Quarter |
3rd Quarter |
2nd Quarter |
1st Quarter |
Dec. 31/YTD |
Dec. 31/YTD |
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| Income Statement |
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| Interest income |
$ | 328,867 | $ | 82,476 | $ | 82,338 | $ | 82,274 | $ | 81,779 | $ | 341,751 | $ | 82,370 | $ | 82,762 | $ | 85,139 | $ | 91,480 | $ | 409,207 | $ | 476,961 | ||||||||||||||||||||||||
| Interest expense |
49,518 | 10,897 | 12,125 | 12,655 | 13,841 | 90,219 | 16,429 | 21,781 | 24,748 | 27,261 | 162,610 | 236,832 | ||||||||||||||||||||||||||||||||||||
| Net interest income |
279,349 | 71,579 | 70,213 | 69,619 | 67,938 | 251,532 | 65,941 | 60,981 | 60,391 | 64,219 | 246,597 | 240,129 | ||||||||||||||||||||||||||||||||||||
| Provision for credit losses |
147,349 | 73,897 | 33,576 | 21,526 | 18,350 | 215,672 | 93,000 | 38,000 | 36,262 | 48,410 | 70,254 | 7,233 | ||||||||||||||||||||||||||||||||||||
| Service charges on deposit accounts |
35,884 | 9,202 | 9,249 | 9,052 | 8,381 | 38,754 | 9,977 | 10,046 | 9,687 | 9,044 | 44,987 | 45,015 | ||||||||||||||||||||||||||||||||||||
| Trust and investment advisory fees |
15,063 | 4,040 | 3,728 | 3,702 | 3,593 | 14,059 | 3,704 | 3,555 | 3,471 | 3,329 | 15,130 | 15,701 | ||||||||||||||||||||||||||||||||||||
| Other service charges, commissions, and fees |
18,238 | 4,506 | 4,932 | 4,628 | 4,172 | 16,529 | 4,280 | 4,222 | 4,021 | 4,006 | 18,846 | 22,183 | ||||||||||||||||||||||||||||||||||||
| Card-based fees |
17,577 | 4,640 | 4,547 | 4,497 | 3,893 | 15,826 | 4,000 | 4,023 | 4,048 | 3,755 | 16,143 | 15,925 | ||||||||||||||||||||||||||||||||||||
| Subotal, total fee-based revenue |
86,762 | 22,388 | 22,456 | 21,879 | 20,039 | 85,168 | 21,961 | 21,846 | 21,227 | 20,134 | 95,106 | 98,824 | ||||||||||||||||||||||||||||||||||||
| Bank owned life insurance income |
1,560 | 696 | 267 | 349 | 248 | 2,263 | 281 | 282 | 1,159 | 541 | (2,369 | ) | 8,033 | |||||||||||||||||||||||||||||||||||
| Security gains (losses), net |
12,216 | 1,662 | 6,376 | 1,121 | 3,057 | 2,110 | (5,772 | ) | (6,975 | ) | 6,635 | 8,222 | (35,611 | ) | (50,801 | ) | ||||||||||||||||||||||||||||||||
| Gains on FDIC-assisted transactions |
4,303 | — | — | 4,303 | — | 13,071 | 13,071 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| Gains on early extinguishment of debt |
— | — | — | — | — | 15,258 | 1,267 | 13,991 | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| Other income |
3,710 | 1,421 | 1,654 | (342 | ) | 977 | 5,132 | 939 | 1,946 | 2,373 | (126 | ) | (3,119 | ) | 4,197 | |||||||||||||||||||||||||||||||||
| Total noninterest income |
108,551 | 26,167 | 30,753 | 27,310 | 24,321 | 123,002 | 31,747 | 31,090 | 31,394 | 28,771 | 54,007 | 60,253 | ||||||||||||||||||||||||||||||||||||
| Salaries and employee benefits |
114,378 | 31,028 | 29,926 | 26,540 | 26,884 | 106,548 | 27,592 | 27,416 | 28,229 | 23,311 | 99,910 | 111,598 | ||||||||||||||||||||||||||||||||||||
| Occupancy and equipment expense |
32,218 | 7,916 | 8,326 | 7,808 | 8,168 | 31,724 | 7,661 | 7,837 | 7,389 | 8,837 | 33,334 | 32,594 | ||||||||||||||||||||||||||||||||||||
| FDIC insurance |
10,880 | 2,967 | 2,835 | 2,546 | 2,532 | 13,673 | 2,720 | 2,558 | 6,034 | 2,361 | 1,065 | 747 | ||||||||||||||||||||||||||||||||||||
| Losses realized on OREO |
40,480 | 15,412 | 8,265 | 8,924 | 7,879 | 18,554 | 14,051 | 1,801 | 2,387 | 315 | 1,566 | 185 | ||||||||||||||||||||||||||||||||||||
| Other real estate expense, net |
9,554 | 2,408 | 1,312 | 2,926 | 2,908 | 4,905 | 1,642 | 1,660 | 914 | 689 | 1,843 | 787 | ||||||||||||||||||||||||||||||||||||
| Other intangibles amortization |
4,278 | 1,139 | 1,107 | 1,029 | 1,003 | 3,929 | 994 | 979 | 978 | 978 | 4,378 | 4,423 | ||||||||||||||||||||||||||||||||||||
| Acquisition and restructure charges |
— | — | — | — | — | — | — | — | — | — | — | 36 | ||||||||||||||||||||||||||||||||||||
| Other expenses |
66,991 | 16,204 | 17,006 | 17,682 | 16,099 | 55,455 | 15,861 | 14,389 | 13,302 | 11,903 | 52,209 | 48,767 | ||||||||||||||||||||||||||||||||||||
| Total noninterest expense |
278,779 | 77,074 | 68,777 | 67,455 | 65,473 | 234,788 | 70,521 | 56,640 | 59,233 | 48,394 | 194,305 | 199,137 | ||||||||||||||||||||||||||||||||||||
| Pre-tax earnings |
(38,228 | ) | (53,225 | ) | (1,387 | ) | 7,948 | 8,436 | (75,926 | ) | (65,833 | ) | (2,569 | ) | (3,710 | ) | (3,814 | ) | 36,045 | 94,012 | ||||||||||||||||||||||||||||
| Income taxes |
(28,544 | ) | (25,066 | ) | (3,972 | ) | 139 | 355 | (50,176 | ) | (28,342 | ) | (5,920 | ) | (6,373 | ) | (9,541 | ) | (13,291 | ) | 13,853 | |||||||||||||||||||||||||||
| Net income |
$ | (9,684 | ) | $ | (28,159 | ) | $ | 2,585 | $ | 7,809 | $ | 8,081 | $ | (25,750 | ) | $ | (37,491 | ) | $ | 3,351 | $ | 2,663 | $ | 5,727 | $ | 49,336 | $ | 80,159 | ||||||||||||||||||||
| Net income applicable to common shares |
$ | (19,717 | ) | $ | (30,327 | ) | $ | 11 | $ | 5,171 | $ | 5,428 | $ | (35,551 | ) | $ | (39,542 | ) | $ | 773 | $ | 63 | $ | 3,155 | $ | 48,482 | $ | 80,094 | ||||||||||||||||||||
| Basic earnings per common share |
$ | (0.27 | ) | $ | (0.41 | ) | $ | 0.00 | $ | 0.07 | $ | 0.08 | $ | (0.71 | ) | $ | (0.73 | ) | $ | 0.02 | $ | 0.00 | $ | 0.07 | $ | 1.00 | $ | 1.62 | ||||||||||||||||||||
| Diluted earnings per common share |
$ | (0.27 | ) | $ | (0.41 | ) | $ | 0.00 | $ | 0.07 | $ | 0.08 | $ | (0.71 | ) | $ | (0.73 | ) | $ | 0.02 | $ | 0.00 | $ | 0.07 | $ | 1.00 | $ | 1.62 | ||||||||||||||||||||
| Weighted average shares outstanding |
72,422 | 73,085 | 73,072 | 73,028 | 70,469 | 50,034 | 54,152 | 48,942 | 48,501 | 48,493 | 48,462 | 49,295 | ||||||||||||||||||||||||||||||||||||
| Weighted average diluted shares outstanding |
72,422 | 73,085 | 73,072 | 73,028 | 70,469 | 50,034 | 54,152 | 48,942 | 48,501 | 48,493 | 48,515 | 49,586 | ||||||||||||||||||||||||||||||||||||
| Tax equivalent adjustment (1) |
$ | 16,312 | $ | 3,742 | $ | 4,053 | $ | 4,265 | $ | 4,252 | $ | 19,658 | $ | 4,448 | $ | 4,691 | $ | 5,091 | $ | 5,428 | $ | 22,225 | $ | 20,906 | ||||||||||||||||||||||||
| Net interest income (FTE) (1) |
$ | 295,661 | $ | 75,321 | $ | 74,266 | $ | 73,884 | $ | 72,190 | $ | 271,190 | $ | 70,389 | $ | 65,672 | $ | 65,482 | $ | 69,647 | $ | 268,822 | $ | 261,035 | ||||||||||||||||||||||||
| Common stock and related per common share data: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Book value |
$ | 12.40 | $ | 12.40 | $ | 13.06 | $ | 13.00 | $ | 12.84 | $ | 13.66 | $ | 13.66 | $ | 14.43 | $ | 14.22 | $ | 14.61 | $ | 14.72 | $ | 14.94 | ||||||||||||||||||||||||
| Tangible book value |
8.47 | 8.47 | 9.11 | 9.20 | 9.05 | 8.52 | 8.52 | 9.29 | 8.47 | 8.78 | 8.87 | 8.99 | ||||||||||||||||||||||||||||||||||||
| Dividends declared per share |
0.040 | 0.010 | 0.010 | 0.010 | 0.010 | 0.040 | 0.010 | 0.010 | 0.010 | 0.010 | 1.155 | 1.195 | ||||||||||||||||||||||||||||||||||||
| Market price - period high |
17.95 | 13.13 | 13.43 | 17.95 | 14.43 | 20.25 | 11.50 | 11.64 | 12.00 | 20.25 | 40.09 | 39.31 | ||||||||||||||||||||||||||||||||||||
| Market price - period low |
9.26 | 9.26 | 10.72 | 12.10 | 10.37 | 5.94 | 9.09 | 6.19 | 5.94 | 5.96 | 13.56 | 29.67 | ||||||||||||||||||||||||||||||||||||
| Closing price at period end |
$ | 11.52 | $ | 11.52 | $ | 11.53 | $ | 12.16 | $ | 13.55 | $ | 10.89 | $ | 10.89 | $ | 11.27 | $ | 7.31 | $ | 8.59 | $ | 19.97 | $ | 30.60 | ||||||||||||||||||||||||
| Closing price to book value |
0.9 | 0.9 | 0.9 | 0.9 | 1.1 | 0.8 | 0.8 | 0.8 | 0.5 | 0.6 | 1.4 | 2.0 | ||||||||||||||||||||||||||||||||||||
| Period end shares outstanding |
74,096 | 74,096 | 74,057 | 74,049 | 74,046 | 54,793 | 54,793 | 54,800 | 49,161 | 48,628 | 48,630 | 48,453 | ||||||||||||||||||||||||||||||||||||
| Period end treasury shares |
11,691 | 11,691 | 11,730 | 11,738 | 11,741 | 12,176 | 12,176 | 12,169 | 12,165 | 12,698 | 12,696 | 12,873 | ||||||||||||||||||||||||||||||||||||
| Number of shares repurchased |
— | — | — | — | — | — | — | — | — | — | 5 | 1,767 | ||||||||||||||||||||||||||||||||||||
| Common dividends |
$ | 2,965 | $ | 741 | $ | 743 | $ | 741 | $ | 740 | $ | 2,020 | $ | 492 | $ | 556 | $ | 486 | $ | 486 | $ | 56,206 | $ | 58,765 | ||||||||||||||||||||||||
| Preferred dividends |
$ | 9,650 | $ | 2,413 | $ | 2,412 | $ | 2,412 | $ | 2,413 | $ | 9,650 | $ | 2,413 | $ | 2,412 | $ | 2,413 | $ | 2,412 | $ | 670 | $ | — | ||||||||||||||||||||||||
| Other Key Ratios/Data: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Return on average common equity (2) |
-2.06 | % | -12.49 | % | 0.00 | % | 2.16 | % | 2.38 | % | -4.84 | % | -19.84 | % | 0.43 | % | 0.04 | % | 1.78 | % | 6.46 | % | 10.68 | % | ||||||||||||||||||||||||
| Return on average assets (2) |
-0.12 | % | -1.34 | % | 0.13 | % | 0.40 | % | 0.43 | % | -0.32 | % | -1.92 | % | 0.17 | % | 0.13 | % | 0.28 | % | 0.60 | % | 0.99 | % | ||||||||||||||||||||||||
| Net interest margin (1) |
4.13 | % | 4.02 | % | 4.05 | % | 4.21 | % | 4.28 | % | 3.72 | % | 4.04 | % | 3.66 | % | 3.53 | % | 3.67 | % | 3.61 | % | 3.58 | % | ||||||||||||||||||||||||
| Yield on average earning assets (1) |
4.82 | % | 4.60 | % | 4.72 | % | 4.94 | % | 5.10 | % | 4.96 | % | 4.98 | % | 4.88 | % | 4.86 | % | 5.12 | % | 5.80 | % | 6.82 | % | ||||||||||||||||||||||||
| Cost of funds |
0.89 | % | 0.75 | % | 0.84 | % | 0.92 | % | 1.05 | % | 1.50 | % | 1.17 | % | 1.48 | % | 1.61 | % | 1.73 | % | 2.56 | % | 3.82 | % | ||||||||||||||||||||||||
| Efficiency ratio (1) |
58.84 | % | 59.08 | % | 59.91 | % | 57.92 | % | 58.41 | % | 57.86 | % | 58.48 | % | 59.13 | % | 61.45 | % | 52.33 | % | 53.49 | % | 52.50 | % | ||||||||||||||||||||||||
| Net noninterest expense ratio (2) |
2.33 | % | 2.51 | % | 2.15 | % | 2.31 | % | 2.34 | % | 1.76 | % | 2.42 | % | 1.64 | % | 1.69 | % | 1.34 | % | 1.27 | % | 1.09 | % | ||||||||||||||||||||||||
| Effective income tax rate |
74.67 | % | 47.09 | % | 286.37 | % | 1.75 | % | 4.21 | % | 66.09 | % | 43.05 | % | 230.44 | % | 171.78 | % | 250.16 | % | -36.87 | % | 14.74 | % | ||||||||||||||||||||||||
| Full time equivalent employees - end of period |
1,838 | 1,838 | 1,884 | 1,762 | 1,729 | 1,739 | 1,739 | 1,751 | 1,766 | 1,767 | 1,809 | 1,856 | ||||||||||||||||||||||||||||||||||||
| Number of bank offices |
98 | 98 | 100 | 95 | 94 | 94 | 94 | 94 | 94 | 97 | 97 | 99 | ||||||||||||||||||||||||||||||||||||
| Number of automated teller machines |
137 | 137 | 129 | 131 | 129 | 127 | 127 | 127 | 128 | 130 | 129 | 131 | ||||||||||||||||||||||||||||||||||||
Note: Discussion of footnotes (1) and (2) are located at the end of this document.
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
| 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||||||||||||||||||||||||||||
| Dec. 31/YTD |
4th Quarter |
3rd Quarter |
2nd Quarter |
1st Quarter |
Dec. 31/YTD |
4th Quarter |
3rd Quarter |
2nd Quarter |
1st Quarter |
Dec. 31/YTD |
Dec. 31/YTD |
|||||||||||||||||||||||||||||||||||||
| Core Operating Earnings |
||||||||||||||||||||||||||||||||||||||||||||||||
| Pre-tax earnings |
$ | (38,228 | ) | $ | (53,225 | ) | $ | (1,387 | ) | $ | 7,948 | $ | 8,436 | $ | (75,926 | ) | $ | (65,833 | ) | $ | (2,569 | ) | $ | (3,710 | ) | $ | (3,814 | ) | $ | 36,045 | $ | 94,012 | ||||||||||||||||
| Provision for credit losses |
147,349 | 73,897 | 33,576 | 21,526 | 18,350 | 215,672 | 93,000 | 38,000 | 36,262 | 48,410 | 70,254 | 7,233 | ||||||||||||||||||||||||||||||||||||
| Pre-tax, pre-provision earnings |
109,121 | 20,672 | 32,189 | 29,474 | 26,786 | 139,746 | 27,167 | 35,431 | 32,552 | 44,596 | 106,299 | 101,245 | ||||||||||||||||||||||||||||||||||||
| Non-operating items: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Security gains (losses), net |
12,216 | 1,662 | 6,376 | 1,121 | 3,057 | 2,110 | (5,772 | ) | (6,975 | ) | 6,635 | 8,222 | (35,611 | ) | (50,801 | ) | ||||||||||||||||||||||||||||||||
| Gains on FDIC-assisted transactions |
4,303 | — | — | 4,303 | — | 13,071 | 13,071 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| Integration costs associated with FDIC-assisted transactions |
(3,324 | ) | (576 | ) | (847 | ) | (1,772 | ) | (129 | ) | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||
| Gains on early extinguishment of debt |
— | — | — | — | — | 15,258 | 1,267 | 13,991 | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| BOLI write-downs |
— | — | — | — | — | — | — | — | — | — | (10,360 | ) | — | |||||||||||||||||||||||||||||||||||
| Losses realized on OREO |
(40,480 | ) | (15,412 | ) | (8,265 | ) | (8,924 | ) | (7,879 | ) | (18,554 | ) | (14,051 | ) | (1,801 | ) | (2,387 | ) | (315 | ) | (1,566 | ) | (185 | ) | ||||||||||||||||||||||||
| FDIC special deposit insurance assessment |
— | — | — | — | — | (3,500 | ) | — | — | (3,500 | ) | — | — | — | ||||||||||||||||||||||||||||||||||
| Total non-operating items |
(27,285 | ) | (14,326 | ) | (2,736 | ) | (5,272 | ) | (4,951 | ) | 8,385 | (5,485 | ) | 5,215 | 748 | 7,907 | (47,537 | ) | (50,986 | ) | ||||||||||||||||||||||||||||
| Pre-tax, pre-provision core operating earnings |
$ | 136,406 | $ | 34,998 | $ | 34,925 | $ | 34,746 | $ | 31,737 | $ | 131,361 | $ | 32,652 | $ | 30,216 | $ | 31,804 | $ | 36,689 | $ | 153,836 | $ | 152,231 | ||||||||||||||||||||||||
| Parent Company Data: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Parent investment in subsidiaries - end of period |
$ | 1,173,342 | $ | 1,173,342 | $ | 1,216,074 | $ | 1,204,551 | $ | 1,188,859 | $ | 1,008,836 | $ | 1,008,836 | $ | 947,040 | $ | 915,129 | $ | 921,904 | $ | 921,548 | $ | 861,841 | ||||||||||||||||||||||||
| Risk-Based Capital Data: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Preferred stock |
$ | 190,882 | $ | 190,882 | $ | 190,716 | $ | 190,553 | $ | 190,392 | $ | 190,233 | $ | 190,233 | $ | 190,076 | $ | 189,921 | $ | 189,768 | $ | 189,617 | $ | — | ||||||||||||||||||||||||
| Common stock |
858 | 858 | 858 | 858 | 858 | 670 | 670 | 670 | 613 | 613 | 613 | 613 | ||||||||||||||||||||||||||||||||||||
| Accumulated paid in capital |
437,550 | 437,550 | 436,774 | 435,605 | 434,704 | 252,322 | 252,322 | 251,423 | 193,623 | 211,325 | 210,698 | 207,851 | ||||||||||||||||||||||||||||||||||||
| Retained earnings |
787,678 | 787,678 | 819,157 | 819,890 | 815,395 | 810,626 | 810,626 | 851,178 | 850,950 | 851,339 | 837,390 | 844,972 | ||||||||||||||||||||||||||||||||||||
| Treasury stock |
(277,184 | ) | (277,184 | ) | (278,243 | ) | (278,591 | ) | (278,703 | ) | (293,664 | ) | (293,664 | ) | (293,551 | ) | (293,572 | ) | (311,963 | ) | (311,997 | ) | (317,734 | ) | ||||||||||||||||||||||||
| Trust preferred securities |
84,730 | 84,730 | 84,730 | 84,730 | 84,730 | 84,730 | 84,730 | 84,730 | 125,000 | 125,000 | 125,000 | 125,000 | ||||||||||||||||||||||||||||||||||||
| Minority interest |
— | — | 1 | 1 | 3 | 5 | 5 | 111 | 111 | 111 | 111 | 111 | ||||||||||||||||||||||||||||||||||||
| Unrealized loss on equity securities |
— | — | — | — | — | — | — | — | (46 | ) | (238 | ) | (126 | ) | (25 | ) | ||||||||||||||||||||||||||||||||
| Intangible assets |
(291,383 | ) | (291,383 | ) | (292,523 | ) | (281,255 | ) | (280,477 | ) | (281,479 | ) | (281,479 | ) | (281,614 | ) | (282,592 | ) | (283,570 | ) | (284,548 | ) | (288,235 | ) | ||||||||||||||||||||||||
| Disallowed deferred tax assets |
(40,619 | ) | (40,619 | ) | (13,662 | ) | (1,761 | ) | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Tier 1 capital |
892,512 | 892,512 | 947,808 | 970,030 | 966,902 | 763,443 | 763,443 | 803,023 | 784,008 | 782,385 | 766,758 | 572,553 | ||||||||||||||||||||||||||||||||||||
| Tier 2 capital |
130,380 | 130,380 | 131,593 | 130,863 | 131,114 | 131,836 | 131,836 | 149,073 | 179,709 | 182,844 | 182,675 | 161,708 | ||||||||||||||||||||||||||||||||||||
| Total capital |
$ | 1,022,892 | $ | 1,022,892 | $ | 1,079,401 | $ | 1,100,893 | $ | 1,098,016 | $ | 895,279 | $ | 895,279 | $ | 952,096 | $ | 963,717 | $ | 965,229 | $ | 949,433 | $ | 734,261 | ||||||||||||||||||||||||
| Risk-adjusted assets |
$ | 6,322,613 | $ | 6,322,613 | $ | 6,418,449 | $ | 6,354,404 | $ | 6,372,521 | $ | 6,424,597 | $ | 6,424,597 | $ | 6,234,283 | $ | 6,335,010 | $ | 6,600,684 | $ | 6,609,359 | $ | 6,340,614 | ||||||||||||||||||||||||
| Tangible common equity |
627,662 | 627,662 | 674,536 | 681,257 | 670,291 | 467,042 | 467,042 | 508,965 | 416,461 | 427,042 | 431,401 | 435,740 | ||||||||||||||||||||||||||||||||||||
| Tangible common equity excluding OCI |
655,401 | 655,401 | 683,739 | 694,060 | 689,169 | 485,708 | 485,708 | 525,182 | 465,943 | 464,512 | 449,443 | 447,467 | ||||||||||||||||||||||||||||||||||||
| Adjusted average assets |
8,037,907 | 8,037,907 | 7,904,648 | 7,641,829 | 7,404,963 | 7,496,478 | 7,496,478 | 7,636,913 | 7,945,014 | 8,151,469 | 8,146,655 | 7,671,104 | ||||||||||||||||||||||||||||||||||||
| Total capital / risk-based assets |
16.18 | % | 16.18 | % | 16.82 | % | 17.32 | % | 17.23 | % | 13.94 | % | 13.94 | % | 15.27 | % | 15.21 | % | 14.62 | % | 14.36 | % | 11.58 | % | ||||||||||||||||||||||||
| Tier 1 capital / risk-based assets |
14.12 | % | 14.12 | % | 14.77 | % | 15.27 | % | 15.17 | % | 11.88 | % | 11.88 | % | 12.88 | % | 12.38 | % | 11.85 | % | 11.60 | % | 9.03 | % | ||||||||||||||||||||||||
| Leverage ratio |
11.10 | % | 11.10 | % | 11.99 | % | 12.69 | % | 13.06 | % | 10.18 | % | 10.18 | % | 10.52 | % | 9.87 | % | 9.60 | % | 9.41 | % | 7.46 | % | ||||||||||||||||||||||||
| Tier 1 common capital / risk-based assets |
9.72 | % | 9.72 | % | 10.44 | % | 10.89 | % | 10.81 | % | 7.56 | % | 7.56 | % | 8.43 | % | 7.36 | % | 7.04 | % | 6.79 | % | 7.06 | % | ||||||||||||||||||||||||
| Tangible common equity ratio |
7.99 | % | 7.99 | % | 8.34 | % | 9.05 | % | 9.17 | % | 6.29 | % | 6.29 | % | 6.88 | % | 5.56 | % | 5.36 | % | 5.23 | % | 5.58 | % | ||||||||||||||||||||||||
| Tangible common equity ratio, excluding OCI |
8.34 | % | 8.34 | % | 8.46 | % | 9.22 | % | 9.42 | % | 6.54 | % | 6.54 | % | 7.10 | % | 6.23 | % | 5.83 | % | 5.45 | % | 5.73 | % | ||||||||||||||||||||||||
| Tangible common equity / risk-based assets |
9.93 | % | 9.93 | % | 10.51 | % | 10.72 | % | 10.52 | % | 7.27 | % | 7.27 | % | 8.16 | % | 6.57 | % | 6.47 | % | 6.53 | % | 6.87 | % | ||||||||||||||||||||||||
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
| 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||||||||||||||||||||||||||||
| Dec. 31/YTD |
4th Quarter |
3rd Quarter |
2nd Quarter |
1st Quarter |
Dec. 31/YTD |
4th Quarter |
3rd Quarter |
2nd Quarter |
1st Quarter |
Dec. 31/YTD |
Dec. 31/YTD |
|||||||||||||||||||||||||||||||||||||
| Asset Quality Performance Data: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Non-accrual loans: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial |
$ | 50,088 | $ | 50,088 | $ | 40,955 | $ | 39,942 | $ | 38,095 | $ | 28,193 | $ | 28,193 | $ | 45,134 | $ | 41,542 | $ | 33,245 | $ | 15,586 | $ | 9,128 | ||||||||||||||||||||||||
| Agricultural |
2,497 | 2,497 | 3,495 | 1,139 | 2,532 | 2,673 | 2,673 | 2,384 | 452 | 12 | 12 | 362 | ||||||||||||||||||||||||||||||||||||
| Real estate - office, retail, and industrial |
19,573 | 19,573 | 21,721 | 17,170 | 18,204 | 21,396 | 21,396 | 15,738 | 13,058 | 12,769 | 2,533 | 552 | ||||||||||||||||||||||||||||||||||||
| Real estate - residential construction |
52,122 | 52,122 | 61,050 | 71,148 | 93,412 | 112,798 | 112,798 | 138,593 | 143,231 | 107,766 | 97,060 | 107 | ||||||||||||||||||||||||||||||||||||
| Real estate - commercial construction |
— | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| Real estate - commerical land |
28,685 | 28,685 | 21,471 | 20,457 | 20,023 | 20,864 | 20,864 | 2,908 | 3,833 | 8,996 | 2,092 | 38 | ||||||||||||||||||||||||||||||||||||
| Real estate - multifamily |
6,203 | 6,203 | 6,813 | 7,904 | 8,349 | 12,486 | 12,486 | 15,910 | 10,632 | 6,989 | 1,387 | 3,480 | ||||||||||||||||||||||||||||||||||||
| Real estate - other commercial |
40,605 | 40,605 | 44,516 | 21,950 | 21,806 | 32,357 | 32,357 | 22,910 | 17,429 | 7,017 | 4,822 | 1,401 | ||||||||||||||||||||||||||||||||||||
| Real estate - 1-4 family |
3,902 | 3,902 | 3,310 | 5,706 | 5,826 | 5,819 | 5,819 | 4,975 | 1,034 | 1,756 | 857 | 583 | ||||||||||||||||||||||||||||||||||||
| Consumer |
8,107 | 8,107 | 8,035 | 8,273 | 7,826 | 7,629 | 7,629 | 8,253 | 6,042 | 4,991 | 3,419 | 2,796 | ||||||||||||||||||||||||||||||||||||
| Total non-accrual loans |
211,782 | 211,782 | 211,366 | 193,689 | 216,073 | 244,215 | 244,215 | 256,805 | 237,253 | 183,541 | 127,768 | 18,447 | ||||||||||||||||||||||||||||||||||||
| Loans past due 90 days and still accruing |
4,244 | 4,244 | 9,136 | 6,280 | 7,995 | 4,079 | 4,079 | 5,960 | 26,071 | 73,929 | 36,999 | 21,149 | ||||||||||||||||||||||||||||||||||||
| Total non-performing loans |
216,026 | 216,026 | 220,502 | 199,969 | 224,068 | 248,294 | 248,294 | 262,765 | 263,324 | 257,470 | 164,767 | 39,596 | ||||||||||||||||||||||||||||||||||||
| Restructured, accruing loans |
22,371 | 22,371 | 11,002 | 9,030 | 5,168 | 30,553 | 30,553 | 26,718 | 18,877 | 1,063 | 7,344 | 7,391 | ||||||||||||||||||||||||||||||||||||
| Other real estate owned |
31,069 | 31,069 | 52,044 | 57,023 | 62,565 | 57,137 | 57,137 | 57,945 | 50,640 | 38,984 | 24,368 | 6,053 | ||||||||||||||||||||||||||||||||||||
| Total non-performing assets |
269,466 | 269,466 | 283,548 | 266,022 | 291,801 | 335,984 | 335,984 | 347,428 | 332,841 | 297,517 | 196,479 | 53,040 | ||||||||||||||||||||||||||||||||||||
| Loans past due 30-89 days and still accruing |
23,646 | 23,646 | 41,590 | 32,012 | 28,018 | 37,912 | 37,912 | 44,346 | 38,128 | 54,311 | 116,206 | 100,820 | ||||||||||||||||||||||||||||||||||||
| Allowance for credit losses: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for loan losses |
$ | 142,572 | $ | 142,572 | $ | 144,569 | $ | 145,027 | $ | 144,824 | $ | 144,808 | $ | 144,808 | $ | 134,269 | $ | 127,528 | $ | 116,001 | $ | 93,869 | $ | 61,800 | ||||||||||||||||||||||||
| Reserve for unfunded commitments |
2,500 | 2,500 | 450 | 450 | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| Total allowance for credit losses |
145,072 | 145,072 | 145,019 | 145,477 | 144,824 | 144,808 | 144,808 | 134,269 | 127,528 | 116,001 | 93,869 | 61,800 | ||||||||||||||||||||||||||||||||||||
| Loan loss provision |
147,349 | 73,897 | 33,576 | 21,526 | 18,350 | 215,672 | 93,000 | 38,000 | 36,262 | 48,410 | 70,254 | 7,233 | ||||||||||||||||||||||||||||||||||||
| Net charge-offs by category: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial |
30,602 | 10,198 | 13,262 | 2,679 | 4,463 | 55,004 | 23,320 | 12,585 | 7,006 | 12,093 | 13,026 | 4,925 | ||||||||||||||||||||||||||||||||||||
| Agricultural |
1,301 | 125 | 489 | 546 | 141 | 180 | 180 | — | — | — | 38 | 10 | ||||||||||||||||||||||||||||||||||||
| Real estate - office, retail, and industrial |
9,710 | 2,888 | 2,825 | 2,353 | 1,644 | 7,856 | 3,265 | 3,496 | 217 | 878 | 732 | — | ||||||||||||||||||||||||||||||||||||
| Real estate - residential construction |
54,841 | 35,935 | 4,460 | 9,994 | 4,452 | 62,642 | 38,315 | 5,181 | 8,427 | 10,719 | 15,780 | 231 | ||||||||||||||||||||||||||||||||||||
| Real estate - commercial construction |
— | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| Real estate - commerical land |
8,356 | 7,743 | 228 | 115 | 270 | 3,220 | 2,714 | (228 | ) | 734 | — | — | — | |||||||||||||||||||||||||||||||||||
| Real estate - multifamily |
2,425 | 1,206 | 222 | 485 | 512 | 3,483 | 2,325 | 29 | 1,086 | 43 | 1,796 | 490 | ||||||||||||||||||||||||||||||||||||
| Real estate - other commercial |
28,375 | 12,202 | 10,217 | 1,507 | 4,449 | 18,297 | 9,137 | 6,628 | 2,463 | 69 | 1,248 | (34 | ) | |||||||||||||||||||||||||||||||||||
| Real estate - 1-4 family |
982 | 238 | 363 | 261 | 120 | 930 | 168 | 216 | 326 | 220 | 576 | 145 | ||||||||||||||||||||||||||||||||||||
| Consumer |
8,918 | 2,374 | 1,979 | 2,282 | 2,283 | 13,121 | 3,037 | 3,352 | 4,476 | 2,256 | 4,989 | 2,036 | ||||||||||||||||||||||||||||||||||||
| Net charge-offs, excluding covered assets |
145,510 | 72,909 | 34,045 | 20,222 | 18,334 | 164,733 | 82,461 | 31,259 | 24,735 | 26,278 | 38,185 | 7,803 | ||||||||||||||||||||||||||||||||||||
| Charge-offs on covered assets |
1,575 | 935 | (11 | ) | 651 | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
| Total net charge-offs |
147,085 | 73,844 | 34,034 | 20,873 | 18,334 | 164,733 | 82,461 | 31,259 | 24,735 | 26,278 | 38,185 | 7,803 | ||||||||||||||||||||||||||||||||||||
| Asset Quality ratios: |
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| Non-accrual loans / loans |
4.15 | % | 4.15 | % | 4.09 | % | 3.72 | % | 4.16 | % | 4.69 | % | 4.69 | % | 4.84 | % | 4.44 | % | 3.41 | % | 2.38 | % | 0.37 | % | ||||||||||||||||||||||||
| Non-performing loans / loans |
4.24 | % | 4.24 | % | 4.27 | % | 3.84 | % | 4.31 | % | 4.77 | % | 4.77 | % | 4.95 | % | 4.93 | % | 4.78 | % | 3.07 | % | 0.80 | % | ||||||||||||||||||||||||
| Non-performing assets / loans plus OREO |
5.25 | % | 5.25 | % | 5.44 | % | 5.05 | % | 5.55 | % | 6.39 | % | 6.39 | % | 6.48 | % | 6.17 | % | 5.48 | % | 3.65 | % | 1.07 | % | ||||||||||||||||||||||||
| Non-performing assets / tangible common equity plus allowance for credti losses |
34.87 | % | 34.87 | % | 34.60 | % | 32.18 | % | 35.80 | % | 54.91 | % | 54.91 | % | 54.01 | % | 61.19 | % | 54.79 | % | 37.41 | % | 10.66 | % | ||||||||||||||||||||||||
| Non-accrual loans / total assets |
2.60 | % | 2.60 | % | 2.52 | % | 2.48 | % | 2.85 | % | 3.17 | % | 3.17 | % | 3.34 | % | 3.05 | % | 2.22 | % | 1.50 | % | 0.23 | % | ||||||||||||||||||||||||
| Loan loss ratios: |
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| Allowance for credit losses / loans |
2.84 | % | 2.84 | % | 2.81 | % | 2.79 | % | 2.79 | % | 2.78 | % | 2.78 | % | 2.53 | % | 2.39 | % | 2.15 | % | 1.75 | % | 1.25 | % | ||||||||||||||||||||||||
| Allowance for credit losses / non-accrual loans |
68.50 | % | 68.50 | % | 68.61 | % | 75.11 | % | 67.03 | % | 59.30 | % | 59.30 | % | 52.28 | % | 53.75 | % | 63.20 | % | 73.47 | % | 335.01 | % | ||||||||||||||||||||||||
| Allowance for credit losses / non-performing loans |
67.15 | % | 67.15 | % | 65.77 | % | 72.75 | % | 64.63 | % | 58.32 | % | 58.32 | % | 51.10 | % | 48.43 | % | 45.05 | % | 56.97 | % | 156.08 | % | ||||||||||||||||||||||||
| Net charge-offs to average net loans |
2.80 | % | 5.61 | % | 2.59 | % | 1.56 | % | 1.43 | % | 3.08 | % | 6.17 | % | 2.32 | % | 1.85 | % | 1.98 | % | 0.74 | % | 0.16 | % | ||||||||||||||||||||||||
Footnotes:
| (1) | Tax equivalent basis reflects federal and state tax benefits. |
| (2) | Annualized based on the number of days outstanding for each period presented. |