Attached files
file | filename |
---|---|
8-K - 8-K - FIRST MIDWEST BANCORP INC | a13-10655_18k.htm |
EX-99.1 - EX-99.1 - FIRST MIDWEST BANCORP INC | a13-10655_1ex99d1.htm |
Exhibit 99.2
First Midwest Bancorp, Inc. |
|
Selected Financial Information |
|
(Amounts in thousands, except per share data) |
|
|
|
2013 |
|
2012 |
|
2011 |
| |||||||||||||||||||||||||||
|
|
March 31 |
|
March 31 |
|
June 30 |
|
September 30 |
|
December 31 |
|
Dec. 31/YTD |
|
March 31 |
|
June 30 |
|
September 30 |
|
December 31 |
|
Dec. 31/YTD |
| |||||||||||
Period-End Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Cash and cash equivalents |
|
$ |
553,316 |
|
$ |
486,373 |
|
$ |
478,162 |
|
$ |
518,374 |
|
$ |
716,266 |
|
$ |
716,266 |
|
$ |
526,460 |
|
$ |
711,469 |
|
$ |
1,062,333 |
|
$ |
641,530 |
|
$ |
641,530 |
|
Securities available-for-sale, at fair value |
|
1,246,679 |
|
1,183,975 |
|
1,174,931 |
|
1,191,582 |
|
1,082,403 |
|
1,082,403 |
|
1,057,758 |
|
1,009,873 |
|
970,430 |
|
1,013,006 |
|
1,013,006 |
| |||||||||||
Securities held-to-maturity, at amortized cost |
|
31,443 |
|
56,319 |
|
60,933 |
|
41,944 |
|
34,295 |
|
34,295 |
|
81,218 |
|
76,142 |
|
74,375 |
|
60,458 |
|
60,458 |
| |||||||||||
FHLB and FRB stock |
|
47,232 |
|
46,750 |
|
46,750 |
|
47,232 |
|
47,232 |
|
47,232 |
|
61,338 |
|
58,187 |
|
58,187 |
|
58,187 |
|
58,187 |
| |||||||||||
Loans held-for-sale |
|
|
|
1,500 |
|
|
|
90,011 |
|
|
|
|
|
3,800 |
|
1,595 |
|
4,620 |
|
4,200 |
|
4,200 |
| |||||||||||
Loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Commercial and industrial |
|
1,659,872 |
|
1,496,966 |
|
1,597,427 |
|
1,610,169 |
|
1,631,474 |
|
1,631,474 |
|
1,493,465 |
|
1,518,772 |
|
1,476,034 |
|
1,458,446 |
|
1,458,446 |
| |||||||||||
Agricultural |
|
274,991 |
|
237,686 |
|
272,742 |
|
259,787 |
|
268,618 |
|
268,618 |
|
234,898 |
|
237,518 |
|
250,436 |
|
243,776 |
|
243,776 |
| |||||||||||
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Office, retail, and industrial |
|
1,344,256 |
|
1,366,899 |
|
1,391,129 |
|
1,330,331 |
|
1,333,191 |
|
1,333,191 |
|
1,205,880 |
|
1,229,100 |
|
1,263,315 |
|
1,299,082 |
|
1,299,082 |
| |||||||||||
Multi-family |
|
298,117 |
|
301,356 |
|
308,250 |
|
309,509 |
|
285,481 |
|
285,481 |
|
344,645 |
|
336,138 |
|
317,313 |
|
288,336 |
|
288,336 |
| |||||||||||
Residential construction |
|
54,032 |
|
99,768 |
|
88,908 |
|
61,920 |
|
61,462 |
|
61,462 |
|
151,887 |
|
129,327 |
|
116,283 |
|
105,836 |
|
105,836 |
| |||||||||||
Commercial construction |
|
122,210 |
|
142,307 |
|
147,626 |
|
136,509 |
|
124,954 |
|
124,954 |
|
153,392 |
|
146,679 |
|
145,889 |
|
144,909 |
|
144,909 |
| |||||||||||
Other commercial real estate |
|
743,076 |
|
829,005 |
|
817,071 |
|
780,712 |
|
773,121 |
|
773,121 |
|
850,334 |
|
852,966 |
|
877,241 |
|
888,146 |
|
888,146 |
| |||||||||||
1-4 family mortgages |
|
263,286 |
|
217,729 |
|
237,341 |
|
292,908 |
|
282,948 |
|
282,948 |
|
178,538 |
|
185,002 |
|
189,587 |
|
201,099 |
|
201,099 |
| |||||||||||
Consumer |
|
415,431 |
|
445,612 |
|
437,532 |
|
436,500 |
|
428,427 |
|
428,427 |
|
482,504 |
|
477,409 |
|
468,396 |
|
458,483 |
|
458,483 |
| |||||||||||
Total loans, excluding covered loans |
|
5,175,271 |
|
5,137,328 |
|
5,298,026 |
|
5,218,345 |
|
5,189,676 |
|
5,189,676 |
|
5,095,543 |
|
5,112,911 |
|
5,104,494 |
|
5,088,113 |
|
5,088,113 |
| |||||||||||
Covered loans |
|
186,687 |
|
251,376 |
|
230,047 |
|
216,610 |
|
197,894 |
|
197,894 |
|
349,446 |
|
314,942 |
|
289,747 |
|
260,502 |
|
260,502 |
| |||||||||||
Allowance for loan and covered loan losses |
|
(97,591 |
) |
(116,264 |
) |
(116,182 |
) |
(102,445 |
) |
(99,446 |
) |
(99,446 |
) |
(142,503 |
) |
(137,331 |
) |
(128,791 |
) |
(119,462 |
) |
(119,462 |
) | |||||||||||
Net loans |
|
5,264,367 |
|
5,272,440 |
|
5,411,891 |
|
5,332,510 |
|
5,288,124 |
|
5,288,124 |
|
5,302,486 |
|
5,290,522 |
|
5,265,450 |
|
5,229,153 |
|
5,229,153 |
| |||||||||||
OREO, excluding covered OREO |
|
39,994 |
|
35,276 |
|
28,309 |
|
36,487 |
|
39,953 |
|
39,953 |
|
33,863 |
|
24,407 |
|
23,863 |
|
33,975 |
|
33,975 |
| |||||||||||
Covered OREO |
|
14,774 |
|
16,990 |
|
9,136 |
|
8,729 |
|
13,123 |
|
13,123 |
|
21,543 |
|
14,583 |
|
21,594 |
|
23,455 |
|
23,455 |
| |||||||||||
FDIC indemnification asset |
|
28,958 |
|
58,488 |
|
58,302 |
|
47,191 |
|
37,051 |
|
37,051 |
|
85,386 |
|
95,752 |
|
63,508 |
|
65,609 |
|
65,609 |
| |||||||||||
Investment in bank-owned life insurance |
|
206,706 |
|
206,304 |
|
206,572 |
|
206,043 |
|
206,405 |
|
206,405 |
|
197,889 |
|
198,149 |
|
205,886 |
|
206,235 |
|
206,235 |
| |||||||||||
Goodwill and other intangible assets |
|
280,240 |
|
282,815 |
|
281,981 |
|
281,914 |
|
281,059 |
|
281,059 |
|
285,077 |
|
284,120 |
|
283,163 |
|
283,650 |
|
283,650 |
| |||||||||||
Other assets |
|
342,110 |
|
340,772 |
|
342,388 |
|
365,159 |
|
353,928 |
|
353,928 |
|
379,791 |
|
364,592 |
|
346,765 |
|
354,136 |
|
354,136 |
| |||||||||||
Total assets |
|
$ |
8,055,819 |
|
$ |
7,988,002 |
|
$ |
8,099,355 |
|
$ |
8,167,176 |
|
$ |
8,099,839 |
|
$ |
8,099,839 |
|
$ |
8,036,609 |
|
$ |
8,129,391 |
|
$ |
8,380,174 |
|
$ |
7,973,594 |
|
$ |
7,973,594 |
|
Liabilities and Stockholders Equity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Noninterest-bearing deposits |
|
$ |
1,738,110 |
|
$ |
1,637,593 |
|
$ |
1,727,009 |
|
$ |
1,773,928 |
|
$ |
1,762,903 |
|
$ |
1,762,903 |
|
$ |
1,346,698 |
|
$ |
1,494,390 |
|
$ |
1,634,623 |
|
$ |
1,593,773 |
|
$ |
1,593,773 |
|
Interest-bearing deposits |
|
4,862,685 |
|
4,848,770 |
|
4,900,734 |
|
4,975,127 |
|
4,909,352 |
|
4,909,352 |
|
5,073,196 |
|
5,001,159 |
|
4,991,985 |
|
4,885,402 |
|
4,885,402 |
| |||||||||||
Total deposits |
|
6,600,795 |
|
6,486,363 |
|
6,627,743 |
|
6,749,055 |
|
6,672,255 |
|
6,672,255 |
|
6,419,894 |
|
6,495,549 |
|
6,626,608 |
|
6,479,175 |
|
6,479,175 |
| |||||||||||
Borrowed funds |
|
208,854 |
|
202,155 |
|
189,524 |
|
183,691 |
|
185,984 |
|
185,984 |
|
273,342 |
|
272,024 |
|
386,429 |
|
205,371 |
|
205,371 |
| |||||||||||
Senior and subordinated debt |
|
214,811 |
|
231,106 |
|
231,138 |
|
231,171 |
|
214,779 |
|
214,779 |
|
137,746 |
|
137,748 |
|
137,751 |
|
252,153 |
|
252,153 |
| |||||||||||
Other liabilities |
|
77,908 |
|
95,677 |
|
72,398 |
|
69,824 |
|
85,928 |
|
85,928 |
|
81,925 |
|
82,828 |
|
77,476 |
|
74,308 |
|
74,308 |
| |||||||||||
Stockholders equity |
|
953,451 |
|
972,701 |
|
978,552 |
|
933,435 |
|
940,893 |
|
940,893 |
|
1,123,702 |
|
1,141,242 |
|
1,151,910 |
|
962,587 |
|
962,587 |
| |||||||||||
Total liabilities and stockholders equity |
|
$ |
8,055,819 |
|
$ |
7,988,002 |
|
$ |
8,099,355 |
|
$ |
8,167,176 |
|
$ |
8,099,839 |
|
$ |
8,099,839 |
|
$ |
8,036,609 |
|
$ |
8,129,391 |
|
$ |
8,380,174 |
|
$ |
7,973,594 |
|
$ |
7,973,594 |
|
Stockholders equity, excluding OCI |
|
$ |
970,340 |
|
$ |
983,620 |
|
$ |
990,419 |
|
$ |
942,683 |
|
$ |
956,553 |
|
$ |
956,553 |
|
$ |
1,148,075 |
|
$ |
1,156,581 |
|
$ |
1,163,323 |
|
$ |
975,863 |
|
$ |
975,863 |
|
Stockholders equity, common |
|
953,451 |
|
972,701 |
|
978,552 |
|
933,435 |
|
940,893 |
|
940,893 |
|
930,702 |
|
948,242 |
|
958,910 |
|
962,587 |
|
962,587 |
| |||||||||||
Stockholders equity, common excluding OCI |
|
970,340 |
|
983,620 |
|
990,419 |
|
942,683 |
|
956,553 |
|
956,553 |
|
955,075 |
|
963,581 |
|
970,323 |
|
975,863 |
|
975,863 |
| |||||||||||
Stockholders equity, preferred |
|
|
|
|
|
|
|
|
|
|
|
|
|
193,000 |
|
193,000 |
|
193,000 |
|
|
|
|
| |||||||||||
Average Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Total assets |
|
$ |
8,071,301 |
|
$ |
7,957,191 |
|
$ |
8,113,742 |
|
$ |
8,227,113 |
|
$ |
8,139,243 |
|
$ |
8,109,726 |
|
$ |
8,094,951 |
|
$ |
8,171,095 |
|
$ |
8,229,780 |
|
$ |
8,142,503 |
|
$ |
8,159,905 |
|
Investment securities |
|
1,175,063 |
|
1,163,338 |
|
1,238,767 |
|
1,220,654 |
|
1,144,997 |
|
1,191,889 |
|
1,166,991 |
|
1,150,221 |
|
1,057,075 |
|
1,069,844 |
|
1,110,619 |
| |||||||||||
FHLB and FRB stock |
|
47,232 |
|
52,531 |
|
46,750 |
|
47,111 |
|
47,232 |
|
48,400 |
|
61,338 |
|
59,745 |
|
58,187 |
|
58,187 |
|
59,352 |
| |||||||||||
Total loans, excluding covered loans |
|
5,148,343 |
|
5,089,286 |
|
5,213,944 |
|
5,353,911 |
|
5,160,576 |
|
5,204,718 |
|
5,075,840 |
|
5,108,234 |
|
5,136,130 |
|
5,085,792 |
|
5,101,621 |
| |||||||||||
Covered loans and FDIC indemnification asset |
|
223,691 |
|
318,569 |
|
297,141 |
|
276,180 |
|
248,971 |
|
285,091 |
|
444,242 |
|
420,108 |
|
387,635 |
|
343,479 |
|
398,559 |
| |||||||||||
Other interest-earning assets |
|
598,527 |
|
464,373 |
|
448,126 |
|
450,917 |
|
631,693 |
|
502,069 |
|
483,252 |
|
582,570 |
|
758,030 |
|
732,051 |
|
639,984 |
| |||||||||||
Total interest-earning assets |
|
$ |
7,192,856 |
|
$ |
7,088,097 |
|
$ |
7,244,728 |
|
$ |
7,348,773 |
|
$ |
7,233,469 |
|
$ |
7,232,167 |
|
$ |
7,231,663 |
|
$ |
7,320,878 |
|
$ |
7,397,057 |
|
$ |
7,289,353 |
|
$ |
7,310,135 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Demand deposits |
|
$ |
1,740,825 |
|
$ |
1,591,198 |
|
$ |
1,797,854 |
|
$ |
1,852,810 |
|
$ |
1,808,522 |
|
$ |
1,762,968 |
|
$ |
1,342,013 |
|
$ |
1,465,438 |
|
$ |
1,569,671 |
|
$ |
1,613,221 |
|
$ |
1,498,900 |
|
Interest-bearing demand deposits |
|
79 |
|
386 |
|
718 |
|
514 |
|
155 |
|
443 |
|
|
|
|
|
|
|
24 |
|
6 |
| |||||||||||
Savings deposits |
|
1,107,213 |
|
995,955 |
|
1,042,099 |
|
1,048,430 |
|
1,066,611 |
|
1,038,379 |
|
901,205 |
|
944,802 |
|
940,151 |
|
952,962 |
|
934,937 |
| |||||||||||
NOW accounts |
|
1,145,403 |
|
1,051,484 |
|
1,063,336 |
|
1,110,898 |
|
1,133,585 |
|
1,090,003 |
|
1,044,280 |
|
1,126,913 |
|
1,129,893 |
|
1,062,993 |
|
1,091,178 |
| |||||||||||
Money market deposits |
|
1,251,235 |
|
1,184,316 |
|
1,176,723 |
|
1,234,833 |
|
1,268,046 |
|
1,216,173 |
|
1,240,439 |
|
1,205,736 |
|
1,236,546 |
|
1,237,600 |
|
1,230,090 |
| |||||||||||
Transactional deposits |
|
5,244,755 |
|
4,823,339 |
|
5,080,730 |
|
5,247,485 |
|
5,276,919 |
|
5,107,966 |
|
4,527,937 |
|
4,742,889 |
|
4,876,261 |
|
4,866,800 |
|
4,755,111 |
| |||||||||||
Time deposits |
|
1,374,529 |
|
1,621,926 |
|
1,548,410 |
|
1,498,993 |
|
1,447,918 |
|
1,529,006 |
|
1,937,890 |
|
1,813,164 |
|
1,731,413 |
|
1,688,971 |
|
1,792,009 |
| |||||||||||
Total deposits |
|
6,619,284 |
|
6,445,265 |
|
6,629,140 |
|
6,746,478 |
|
6,724,837 |
|
6,636,972 |
|
6,465,827 |
|
6,556,053 |
|
6,607,674 |
|
6,555,771 |
|
6,547,120 |
| |||||||||||
Borrowed funds |
|
199,891 |
|
203,548 |
|
195,934 |
|
189,835 |
|
185,390 |
|
193,643 |
|
285,847 |
|
262,525 |
|
262,001 |
|
252,839 |
|
265,702 |
| |||||||||||
Senior and subordinated debt |
|
214,796 |
|
248,232 |
|
231,123 |
|
231,156 |
|
214,764 |
|
231,273 |
|
137,745 |
|
137,747 |
|
137,749 |
|
187,488 |
|
150,285 |
| |||||||||||
Total funding sources |
|
$ |
7,033,971 |
|
$ |
6,897,045 |
|
$ |
7,056,197 |
|
$ |
7,167,469 |
|
$ |
7,124,991 |
|
$ |
7,061,888 |
|
$ |
6,889,419 |
|
$ |
6,956,325 |
|
$ |
7,007,424 |
|
$ |
6,996,098 |
|
$ |
6,963,107 |
|
Stockholders equity |
|
$ |
948,060 |
|
$ |
970,368 |
|
$ |
977,054 |
|
$ |
982,582 |
|
$ |
941,175 |
|
$ |
967,763 |
|
$ |
1,122,315 |
|
$ |
1,134,770 |
|
$ |
1,148,548 |
|
$ |
1,072,684 |
|
$ |
1,119,523 |
|
Stockholders equity, common |
|
948,060 |
|
970,368 |
|
977,054 |
|
982,582 |
|
941,175 |
|
967,763 |
|
929,315 |
|
941,770 |
|
955,548 |
|
961,500 |
|
947,145 |
| |||||||||||
Stockholders equity, preferred |
|
|
|
|
|
|
|
|
|
|
|
|
|
193,000 |
|
193,000 |
|
193,000 |
|
111,184 |
|
172,378 |
|
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
|
|
2013 |
|
2012 |
|
2011 |
| |||||||||||||||||||||||||||
|
|
March 31 |
|
March 31 |
|
June 30 |
|
September 30 |
|
December 31 |
|
Dec. 31/YTD |
|
March 31 |
|
June 30 |
|
September 30 |
|
December 31 |
|
Dec. 31/YTD |
| |||||||||||
Income Statement |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Interest income |
|
$ |
71,045 |
|
$ |
75,268 |
|
$ |
75,518 |
|
$ |
75,584 |
|
$ |
74,199 |
|
$ |
300,569 |
|
$ |
81,283 |
|
$ |
81,296 |
|
$ |
80,175 |
|
$ |
78,757 |
|
$ |
321,511 |
|
Interest expense |
|
7,197 |
|
10,086 |
|
8,814 |
|
8,324 |
|
7,677 |
|
34,901 |
|
10,637 |
|
9,935 |
|
9,640 |
|
9,679 |
|
39,891 |
| |||||||||||
Net interest income |
|
63,848 |
|
65,182 |
|
66,704 |
|
67,260 |
|
66,522 |
|
265,668 |
|
70,646 |
|
71,361 |
|
70,535 |
|
69,078 |
|
281,620 |
| |||||||||||
Provision for loan and covered loan losses |
|
5,674 |
|
18,210 |
|
22,458 |
|
111,791 |
|
5,593 |
|
158,052 |
|
19,492 |
|
18,763 |
|
20,425 |
|
21,902 |
|
80,582 |
| |||||||||||
Service charges on deposit accounts |
|
8,677 |
|
8,660 |
|
8,848 |
|
9,502 |
|
9,689 |
|
36,699 |
|
8,144 |
|
9,563 |
|
10,215 |
|
9,957 |
|
37,879 |
| |||||||||||
Card-based fees |
|
5,076 |
|
5,020 |
|
5,312 |
|
5,246 |
|
5,274 |
|
20,852 |
|
4,529 |
|
5,162 |
|
4,931 |
|
4,971 |
|
19,593 |
| |||||||||||
Wealth management fees |
|
5,839 |
|
5,392 |
|
5,394 |
|
5,415 |
|
5,590 |
|
21,791 |
|
5,053 |
|
5,237 |
|
4,982 |
|
5,052 |
|
20,324 |
| |||||||||||
Mortgage banking income |
|
1,966 |
|
|
|
|
|
167 |
|
2,102 |
|
2,269 |
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Merchant servicing fees |
|
2,554 |
|
2,322 |
|
2,908 |
|
2,849 |
|
2,727 |
|
10,806 |
|
2,607 |
|
2,945 |
|
2,836 |
|
2,524 |
|
10,912 |
| |||||||||||
Other service charges, commissions, and fees |
|
1,646 |
|
1,198 |
|
1,189 |
|
1,171 |
|
1,348 |
|
4,906 |
|
1,370 |
|
1,298 |
|
1,453 |
|
1,353 |
|
5,474 |
| |||||||||||
Bank-owned life insurance income |
|
281 |
|
248 |
|
404 |
|
300 |
|
355 |
|
1,307 |
|
252 |
|
259 |
|
1,479 |
|
241 |
|
2,231 |
| |||||||||||
Other income |
|
500 |
|
1,135 |
|
406 |
|
727 |
|
460 |
|
2,728 |
|
978 |
|
501 |
|
598 |
|
652 |
|
2,729 |
| |||||||||||
Total operating revenues |
|
26,539 |
|
23,975 |
|
24,461 |
|
25,377 |
|
27,545 |
|
101,358 |
|
22,933 |
|
24,965 |
|
26,494 |
|
24,750 |
|
99,142 |
| |||||||||||
Trading gains |
|
1,036 |
|
1,401 |
|
(575 |
) |
685 |
|
116 |
|
1,627 |
|
744 |
|
(2 |
) |
(2,352 |
) |
919 |
|
(691 |
) | |||||||||||
Net securities (losses) gains |
|
|
|
(943 |
) |
151 |
|
(217 |
) |
88 |
|
(921 |
) |
540 |
|
1,531 |
|
449 |
|
(110 |
) |
2,410 |
| |||||||||||
Gains on acquisitions |
|
|
|
|
|
|
|
3,289 |
|
|
|
3,289 |
|
|
|
|
|
|
|
1,076 |
|
1,076 |
| |||||||||||
Gain on bulk loan sales |
|
|
|
|
|
|
|
|
|
5,153 |
|
5,153 |
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Net gains (losses) on early extinguishment of debt |
|
|
|
256 |
|
|
|
|
|
(814 |
) |
(558 |
) |
|
|
|
|
|
|
|
|
|
| |||||||||||
Total noninterest income |
|
27,575 |
|
24,689 |
|
24,037 |
|
29,134 |
|
32,088 |
|
109,948 |
|
24,217 |
|
26,494 |
|
24,591 |
|
26,635 |
|
101,937 |
| |||||||||||
Salaries and wages |
|
28,963 |
|
27,257 |
|
23,852 |
|
26,881 |
|
27,241 |
|
105,231 |
|
25,665 |
|
25,493 |
|
22,957 |
|
27,588 |
|
101,703 |
| |||||||||||
Retirement and other employee benefits |
|
7,606 |
|
6,793 |
|
5,714 |
|
6,230 |
|
6,787 |
|
25,524 |
|
7,153 |
|
6,061 |
|
6,225 |
|
7,632 |
|
27,071 |
| |||||||||||
Net occupancy and equipment expense |
|
8,147 |
|
8,331 |
|
7,513 |
|
8,108 |
|
8,747 |
|
32,699 |
|
9,103 |
|
8,012 |
|
8,157 |
|
7,681 |
|
32,953 |
| |||||||||||
Technology and related costs |
|
2,483 |
|
2,858 |
|
2,851 |
|
2,906 |
|
3,231 |
|
11,846 |
|
2,623 |
|
2,697 |
|
2,709 |
|
2,876 |
|
10,905 |
| |||||||||||
Professional services |
|
5,218 |
|
5,629 |
|
6,905 |
|
6,665 |
|
10,415 |
|
29,614 |
|
5,119 |
|
5,640 |
|
7,571 |
|
8,026 |
|
26,356 |
| |||||||||||
Net OREO expense |
|
1,799 |
|
1,864 |
|
4,124 |
|
3,208 |
|
1,325 |
|
10,521 |
|
3,931 |
|
5,223 |
|
4,174 |
|
2,965 |
|
16,293 |
| |||||||||||
FDIC premiums |
|
1,742 |
|
1,719 |
|
1,659 |
|
1,785 |
|
1,763 |
|
6,926 |
|
2,725 |
|
1,708 |
|
1,799 |
|
1,758 |
|
7,990 |
| |||||||||||
Advertising and promotions |
|
1,410 |
|
870 |
|
1,032 |
|
1,427 |
|
1,744 |
|
5,073 |
|
1,079 |
|
1,378 |
|
2,502 |
|
1,239 |
|
6,198 |
| |||||||||||
Merchant card expense |
|
2,044 |
|
1,796 |
|
2,324 |
|
2,272 |
|
2,192 |
|
8,584 |
|
2,088 |
|
2,391 |
|
2,315 |
|
1,849 |
|
8,643 |
| |||||||||||
Cardholder expenses |
|
929 |
|
1,042 |
|
980 |
|
982 |
|
935 |
|
3,939 |
|
825 |
|
1,097 |
|
957 |
|
914 |
|
3,793 |
| |||||||||||
Adjusted amortization of FDIC |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
indemnification asset |
|
750 |
|
|
|
|
|
4,000 |
|
2,705 |
|
6,705 |
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Intangibles amortization |
|
819 |
|
834 |
|
834 |
|
849 |
|
855 |
|
3,372 |
|
957 |
|
956 |
|
957 |
|
932 |
|
3,802 |
| |||||||||||
Other expenses |
|
2,904 |
|
3,620 |
|
3,369 |
|
4,810 |
|
5,667 |
|
17,466 |
|
4,150 |
|
5,063 |
|
3,853 |
|
3,131 |
|
16,197 |
| |||||||||||
Total noninterest expense |
|
64,814 |
|
62,613 |
|
61,157 |
|
70,123 |
|
73,607 |
|
267,500 |
|
65,418 |
|
65,719 |
|
64,176 |
|
66,591 |
|
261,904 |
| |||||||||||
Income (loss) before income tax |
|
20,935 |
|
9,048 |
|
7,126 |
|
(85,520 |
) |
19,410 |
|
(49,936 |
) |
9,953 |
|
13,373 |
|
10,525 |
|
7,220 |
|
41,071 |
| |||||||||||
Income tax |
|
6,293 |
|
1,156 |
|
761 |
|
(36,993 |
) |
6,194 |
|
(28,882 |
) |
(91 |
) |
2,720 |
|
1,583 |
|
296 |
|
4,508 |
| |||||||||||
Net income (loss) |
|
$ |
14,642 |
|
$ |
7,892 |
|
$ |
6,365 |
|
$ |
(48,527 |
) |
$ |
13,216 |
|
$ |
(21,054 |
) |
$ |
10,044 |
|
$ |
10,653 |
|
$ |
8,942 |
|
$ |
6,924 |
|
$ |
36,563 |
|
Net income (loss) applicable to common shares |
|
$ |
14,430 |
|
$ |
7,753 |
|
$ |
6,289 |
|
$ |
(47,812 |
) |
$ |
13,022 |
|
$ |
(20,748 |
) |
$ |
7,326 |
|
$ |
7,971 |
|
$ |
6,263 |
|
$ |
3,877 |
|
$ |
25,437 |
|
Basic earnings (loss) per common share |
|
0.20 |
|
0.11 |
|
0.09 |
|
(0.65 |
) |
0.18 |
|
(0.28 |
) |
0.10 |
|
0.11 |
|
0.09 |
|
0.05 |
|
0.35 |
| |||||||||||
Diluted earnings (loss) per common share |
|
0.20 |
|
0.11 |
|
0.09 |
|
(0.65 |
) |
0.18 |
|
(0.28 |
) |
0.10 |
|
0.11 |
|
0.09 |
|
0.05 |
|
0.35 |
| |||||||||||
Weighted average shares outstanding |
|
73,867 |
|
73,505 |
|
73,659 |
|
73,742 |
|
73,750 |
|
73,665 |
|
73,151 |
|
73,259 |
|
73,361 |
|
73,382 |
|
73,289 |
| |||||||||||
Weighted average diluted shares outstanding |
|
73,874 |
|
73,505 |
|
73,659 |
|
73,742 |
|
73,758 |
|
73,666 |
|
73,151 |
|
73,259 |
|
73,361 |
|
73,382 |
|
73,289 |
| |||||||||||
Tax equivalent adjustment (1) |
|
$ |
3,154 |
|
$ |
3,292 |
|
$ |
3,324 |
|
$ |
3,400 |
|
$ |
3,233 |
|
$ |
13,249 |
|
$ |
3,567 |
|
$ |
3,517 |
|
$ |
3,395 |
|
$ |
3,339 |
|
$ |
13,818 |
|
Net interest income (FTE) (1) |
|
67,002 |
|
68,474 |
|
70,028 |
|
70,660 |
|
69,755 |
|
278,917 |
|
74,213 |
|
74,878 |
|
73,930 |
|
72,417 |
|
295,438 |
| |||||||||||
Common stock and related per common share data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Book value |
|
$ |
12.70 |
|
$ |
12.99 |
|
$ |
13.07 |
|
$ |
12.47 |
|
$ |
12.57 |
|
$ |
12.57 |
|
$ |
12.49 |
|
$ |
12.73 |
|
$ |
12.87 |
|
$ |
12.93 |
|
$ |
12.93 |
|
Tangible book value |
|
8.96 |
|
9.21 |
|
9.30 |
|
8.71 |
|
8.82 |
|
8.82 |
|
8.66 |
|
8.92 |
|
9.07 |
|
9.12 |
|
9.12 |
| |||||||||||
Dividends declared per share |
|
0.01 |
|
0.01 |
|
0.01 |
|
0.01 |
|
0.01 |
|
0.04 |
|
0.01 |
|
0.01 |
|
0.01 |
|
0.01 |
|
0.04 |
| |||||||||||
Closing price at period end |
|
13.28 |
|
11.98 |
|
10.98 |
|
12.56 |
|
12.52 |
|
12.52 |
|
11.79 |
|
12.29 |
|
7.32 |
|
10.13 |
|
10.13 |
| |||||||||||
Market price - period high |
|
13.60 |
|
12.87 |
|
12.25 |
|
13.40 |
|
13.57 |
|
13.57 |
|
13.07 |
|
13.48 |
|
12.72 |
|
10.31 |
|
13.48 |
| |||||||||||
Market price - period low |
|
12.11 |
|
10.25 |
|
9.42 |
|
10.43 |
|
11.62 |
|
9.42 |
|
10.79 |
|
11.05 |
|
7.22 |
|
6.89 |
|
6.89 |
| |||||||||||
Closing price to book value |
|
1.0 |
|
0.9 |
|
0.8 |
|
1.0 |
|
1.0 |
|
1.0 |
|
0.9 |
|
1.0 |
|
0.6 |
|
0.8 |
|
0.8 |
| |||||||||||
Period end shares outstanding |
|
75,095 |
|
74,898 |
|
74,862 |
|
74,831 |
|
74,840 |
|
74,840 |
|
74,543 |
|
74,473 |
|
74,485 |
|
74,435 |
|
74,435 |
| |||||||||||
Period end treasury shares |
|
10,692 |
|
10,889 |
|
10,925 |
|
10,956 |
|
10,947 |
|
10,947 |
|
11,244 |
|
11,314 |
|
11,302 |
|
11,352 |
|
11,352 |
| |||||||||||
Common dividends |
|
$ |
752 |
|
$ |
749 |
|
$ |
745 |
|
$ |
747 |
|
$ |
739 |
|
$ |
2,980 |
|
$ |
746 |
|
$ |
743 |
|
$ |
745 |
|
$ |
744 |
|
$ |
2,978 |
|
Preferred dividends |
|
|
|
|
|
|
|
|
|
|
|
|
|
2,413 |
|
2,412 |
|
2,413 |
|
1,420 |
|
8,658 |
| |||||||||||
Other Key Ratios/Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Return on average common equity (2) |
|
6.17 |
% |
3.21 |
% |
2.59 |
% |
-19.36 |
% |
5.50 |
% |
-2.14 |
% |
3.20 |
% |
3.39 |
% |
2.60 |
% |
1.60 |
% |
2.69 |
% | |||||||||||
Return on average assets (2) |
|
0.74 |
% |
0.40 |
% |
0.32 |
% |
-2.35 |
% |
0.65 |
% |
-0.26 |
% |
0.50 |
% |
0.52 |
% |
0.43 |
% |
0.34 |
% |
0.45 |
% | |||||||||||
Net interest margin (1) |
|
3.77 |
% |
3.88 |
% |
3.88 |
% |
3.83 |
% |
3.84 |
% |
3.86 |
% |
4.15 |
% |
4.10 |
% |
3.97 |
% |
3.95 |
% |
4.04 |
% | |||||||||||
Yield on average interest-earning assets (1) |
|
4.18 |
% |
4.45 |
% |
4.37 |
% |
4.28 |
% |
4.26 |
% |
4.34 |
% |
4.75 |
% |
4.64 |
% |
4.49 |
% |
4.47 |
% |
4.59 |
% | |||||||||||
Cost of funds |
|
0.55 |
% |
0.76 |
% |
0.67 |
% |
0.62 |
% |
0.57 |
% |
0.66 |
% |
0.78 |
% |
0.73 |
% |
0.70 |
% |
0.71 |
% |
0.73 |
% | |||||||||||
Efficiency ratio (1) |
|
66.50 |
% |
64.62 |
% |
60.56 |
% |
69.04 |
% |
74.02 |
% |
67.14 |
% |
62.70 |
% |
60.49 |
% |
60.57 |
% |
64.76 |
% |
62.12 |
% | |||||||||||
Net noninterest expense ratio (2) |
|
1.87 |
% |
1.88 |
% |
1.85 |
% |
2.13 |
% |
2.25 |
% |
2.03 |
% |
2.09 |
% |
2.00 |
% |
1.93 |
% |
1.99 |
% |
2.00 |
% | |||||||||||
Effective income tax rate |
|
30.06 |
% |
12.78 |
% |
10.68 |
% |
43.26 |
% |
31.91 |
% |
57.84 |
% |
-0.91 |
% |
20.34 |
% |
15.04 |
% |
4.10 |
% |
10.98 |
% | |||||||||||
Full time equivalent employees - end of period |
|
1,693 |
|
1,757 |
|
1,758 |
|
1,768 |
|
1,731 |
|
1,731 |
|
1,845 |
|
1,846 |
|
1,833 |
|
1,791 |
|
1,791 |
| |||||||||||
Number of bank offices |
|
91 |
|
98 |
|
98 |
|
94 |
|
91 |
|
91 |
|
97 |
|
96 |
|
96 |
|
98 |
|
98 |
| |||||||||||
Number of automated teller machines |
|
126 |
|
132 |
|
132 |
|
131 |
|
130 |
|
130 |
|
136 |
|
135 |
|
133 |
|
132 |
|
132 |
|
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)
|
|
2013 |
|
2012 |
|
2011 |
| |||||||||||||||||||||||||||
|
|
March 31 |
|
March 31 |
|
June 30 |
|
September 30 |
|
December 31 |
|
Dec. 31/YTD |
|
March 31 |
|
June 30 |
|
September 30 |
|
December 31 |
|
Dec. 31/YTD |
| |||||||||||
Pre-Tax, Pre-Provision Operating Earnings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Income (loss) before income tax |
|
$ |
20,935 |
|
$ |
9,048 |
|
$ |
7,126 |
|
$ |
(85,520 |
) |
$ |
19,410 |
|
$ |
(49,936 |
) |
$ |
9,953 |
|
$ |
13,373 |
|
$ |
10,525 |
|
$ |
7,220 |
|
$ |
41,071 |
|
Provision for loan and covered loan losses |
|
5,674 |
|
18,210 |
|
22,458 |
|
111,791 |
|
5,593 |
|
158,052 |
|
19,492 |
|
18,763 |
|
20,425 |
|
21,902 |
|
80,582 |
| |||||||||||
Pre-tax, pre-provision operating earnings |
|
26,609 |
|
27,258 |
|
29,584 |
|
26,271 |
|
25,003 |
|
108,116 |
|
29,445 |
|
32,136 |
|
30,950 |
|
29,122 |
|
121,653 |
| |||||||||||
Adjustments to pre-tax, pre-provision operating earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Net securities (losses) gains |
|
|
|
(943 |
) |
151 |
|
(217 |
) |
88 |
|
(921 |
) |
540 |
|
1,531 |
|
449 |
|
(110 |
) |
2,410 |
| |||||||||||
Gain, less related expenses, on bulk loan sales |
|
|
|
|
|
|
|
|
|
2,639 |
|
2,639 |
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Gains on acquisitions, net of integration costs |
|
|
|
|
|
|
|
3,074 |
|
(588 |
) |
2,486 |
|
|
|
|
|
|
|
1,076 |
|
1,076 |
| |||||||||||
Net gains (losses) on early extinguishment of debt |
|
|
|
256 |
|
|
|
|
|
(814 |
) |
(558 |
) |
|
|
|
|
|
|
|
|
|
| |||||||||||
Adjusted amortization of FDIC indemnification asset |
|
(750 |
) |
|
|
|
|
(4,000 |
) |
(2,705 |
) |
(6,705 |
) |
|
|
|
|
|
|
|
|
|
| |||||||||||
Net losses on sales and valuation adjustments of OREO, excess properties, assets held-for-sale, and other |
|
(781 |
) |
(303 |
) |
(2,527 |
) |
(3,280 |
) |
(1,805 |
) |
(7,915 |
) |
(2,537 |
) |
(4,149 |
) |
(2,686 |
) |
(1,425 |
) |
(10,797 |
) | |||||||||||
Severance-related costs |
|
(980 |
) |
(315 |
) |
|
|
(840 |
) |
(59 |
) |
(1,214 |
) |
|
|
(191 |
) |
(78 |
) |
(2,000 |
) |
(2,269 |
) | |||||||||||
Total adjustments |
|
(2,511 |
) |
(1,305 |
) |
(2,376 |
) |
(5,263 |
) |
(3,244 |
) |
(12,188 |
) |
(1,997 |
) |
(2,809 |
) |
(2,315 |
) |
(2,459 |
) |
(9,580 |
) | |||||||||||
Pre-tax, pre-provision operating earnings |
|
$ |
29,120 |
|
$ |
28,563 |
|
$ |
31,960 |
|
$ |
31,534 |
|
$ |
28,247 |
|
$ |
120,304 |
|
$ |
31,442 |
|
$ |
34,945 |
|
$ |
33,265 |
|
$ |
31,581 |
|
$ |
131,233 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Risk-Based Capital Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Preferred stock |
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
|
|
$ |
191,050 |
|
$ |
191,220 |
|
$ |
191,393 |
|
$ |
|
|
$ |
|
|
Common stock |
|
858 |
|
858 |
|
858 |
|
858 |
|
858 |
|
858 |
|
858 |
|
858 |
|
858 |
|
858 |
|
858 |
| |||||||||||
Additional paid-in capital |
|
409,077 |
|
413,742 |
|
414,665 |
|
417,245 |
|
418,318 |
|
418,318 |
|
422,405 |
|
424,877 |
|
425,647 |
|
428,001 |
|
428,001 |
| |||||||||||
Retained earnings |
|
800,343 |
|
817,630 |
|
823,250 |
|
773,976 |
|
786,453 |
|
786,453 |
|
794,395 |
|
801,723 |
|
807,334 |
|
810,487 |
|
810,487 |
| |||||||||||
Treasury stock, at cost |
|
(239,938 |
) |
(248,610 |
) |
(248,354 |
) |
(249,396 |
) |
(249,076 |
) |
(249,076 |
) |
(260,633 |
) |
(262,097 |
) |
(261,909 |
) |
(263,483 |
) |
(263,483 |
) | |||||||||||
Trust preferred securities |
|
59,965 |
|
64,265 |
|
64,265 |
|
64,265 |
|
59,965 |
|
59,965 |
|
84,730 |
|
84,730 |
|
84,730 |
|
84,730 |
|
84,730 |
| |||||||||||
Minority interest |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Unrealized loss on equity securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Goodwill and other intangible assets |
|
(280,240 |
) |
(282,815 |
) |
(281,981 |
) |
(281,914 |
) |
(281,059 |
) |
(281,059 |
) |
(285,077 |
) |
(284,120 |
) |
(283,163 |
) |
(283,650 |
) |
(283,650 |
) | |||||||||||
Disallowed deferred tax assets |
|
(74,615 |
) |
(50,602 |
) |
(54,178 |
) |
(86,201 |
) |
(82,979 |
) |
(82,979 |
) |
(43,392 |
) |
(41,363 |
) |
(44,858 |
) |
(52,080 |
) |
(52,080 |
) | |||||||||||
Tier 1 capital |
|
675,450 |
|
714,468 |
|
718,525 |
|
638,833 |
|
652,480 |
|
652,480 |
|
904,336 |
|
915,828 |
|
920,032 |
|
724,863 |
|
724,863 |
| |||||||||||
Tier 2 capital |
|
95,700 |
|
129,330 |
|
110,938 |
|
111,102 |
|
102,784 |
|
102,784 |
|
130,033 |
|
129,595 |
|
129,277 |
|
129,098 |
|
129,098 |
| |||||||||||
Total capital |
|
$ |
771,150 |
|
$ |
843,798 |
|
$ |
829,463 |
|
$ |
749,935 |
|
$ |
755,264 |
|
$ |
755,264 |
|
$ |
1,034,369 |
|
$ |
1,045,423 |
|
$ |
1,049,309 |
|
$ |
853,961 |
|
$ |
853,961 |
|
Risk-adjusted assets |
|
$ |
6,401,019 |
|
$ |
6,263,673 |
|
$ |
6,409,298 |
|
$ |
6,437,263 |
|
$ |
6,348,523 |
|
$ |
6,348,523 |
|
$ |
6,291,987 |
|
$ |
6,261,928 |
|
$ |
6,244,070 |
|
$ |
6,241,191 |
|
$ |
6,241,191 |
|
Tier 1 common capital |
|
615,485 |
|
650,203 |
|
654,260 |
|
574,568 |
|
592,515 |
|
592,515 |
|
626,606 |
|
638,098 |
|
642,302 |
|
640,133 |
|
640,133 |
| |||||||||||
Tangible common equity |
|
673,211 |
|
689,886 |
|
696,571 |
|
651,521 |
|
659,834 |
|
659,834 |
|
645,625 |
|
664,122 |
|
675,747 |
|
678,937 |
|
678,937 |
| |||||||||||
Tangible common equity excluding OCI |
|
690,100 |
|
700,805 |
|
708,438 |
|
660,769 |
|
675,494 |
|
675,494 |
|
669,998 |
|
679,461 |
|
687,160 |
|
692,213 |
|
692,213 |
| |||||||||||
Adjusted average assets |
|
7,717,847 |
|
7,620,777 |
|
7,772,866 |
|
7,854,202 |
|
7,768,967 |
|
7,768,967 |
|
7,795,603 |
|
7,862,447 |
|
7,909,645 |
|
7,813,637 |
|
7,813,637 |
| |||||||||||
Total capital to risk-weighted assets |
|
12.05 |
% |
13.47 |
% |
12.94 |
% |
11.65 |
% |
11.90 |
% |
11.90 |
% |
16.44 |
% |
16.69 |
% |
16.80 |
% |
13.68 |
% |
13.68 |
% | |||||||||||
Tier 1 capital to risk-weighted assets |
|
10.55 |
% |
11.41 |
% |
11.21 |
% |
9.92 |
% |
10.28 |
% |
10.28 |
% |
14.37 |
% |
14.63 |
% |
14.73 |
% |
11.61 |
% |
11.61 |
% | |||||||||||
Tier 1 leverage to average assets |
|
8.75 |
% |
9.38 |
% |
9.24 |
% |
8.13 |
% |
8.40 |
% |
8.40 |
% |
11.60 |
% |
11.65 |
% |
11.63 |
% |
9.28 |
% |
9.28 |
% | |||||||||||
Tier 1 common capital to risk-weighted assets |
|
9.62 |
% |
10.38 |
% |
10.21 |
% |
8.93 |
% |
9.33 |
% |
9.33 |
% |
9.96 |
% |
10.19 |
% |
10.29 |
% |
10.26 |
% |
10.26 |
% | |||||||||||
Tangible common equity ratio |
|
8.66 |
% |
8.95 |
% |
8.91 |
% |
8.26 |
% |
8.44 |
% |
8.44 |
% |
8.33 |
% |
8.47 |
% |
8.35 |
% |
8.83 |
% |
8.83 |
% | |||||||||||
Tangible common equity ratio, excluding OCI |
|
8.88 |
% |
9.10 |
% |
9.06 |
% |
8.38 |
% |
8.64 |
% |
8.64 |
% |
8.64 |
% |
8.66 |
% |
8.49 |
% |
9.00 |
% |
9.00 |
% | |||||||||||
Tangible common equity to risk-weighted assets |
|
10.52 |
% |
11.01 |
% |
10.87 |
% |
10.12 |
% |
10.39 |
% |
10.39 |
% |
10.26 |
% |
10.61 |
% |
10.82 |
% |
10.88 |
% |
10.88 |
% |
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
|
|
2013 |
|
2012 |
|
2011 |
| |||||||||||||||||||||||||||
|
|
March 31 |
|
March 31 |
|
June 30 |
|
September 30 |
|
December 31 |
|
Dec. 31/YTD |
|
March 31 |
|
June 30 |
|
September 30 |
|
December 31 |
|
Dec. 31/YTD |
| |||||||||||
Asset Quality Performance Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Non-performing loans (3): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Commercial and industrial |
|
$ |
29,625 |
|
$ |
55,158 |
|
$ |
55,358 |
|
$ |
31,102 |
|
$ |
25,941 |
|
$ |
25,941 |
|
$ |
54,561 |
|
$ |
44,393 |
|
$ |
30,507 |
|
$ |
44,152 |
|
$ |
44,152 |
|
Agricultural |
|
655 |
|
882 |
|
1,293 |
|
1,204 |
|
1,173 |
|
1,173 |
|
1,171 |
|
1,009 |
|
2,977 |
|
1,019 |
|
1,019 |
| |||||||||||
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Office, retail, and industrial |
|
26,438 |
|
34,831 |
|
46,629 |
|
22,624 |
|
23,224 |
|
23,224 |
|
16,753 |
|
16,567 |
|
24,728 |
|
30,043 |
|
30,043 |
| |||||||||||
Multi-family |
|
1,766 |
|
9,615 |
|
8,843 |
|
2,028 |
|
1,434 |
|
1,434 |
|
6,787 |
|
23,385 |
|
18,196 |
|
6,487 |
|
6,487 |
| |||||||||||
Residential construction |
|
5,552 |
|
21,104 |
|
17,500 |
|
4,750 |
|
4,612 |
|
4,612 |
|
36,326 |
|
23,576 |
|
20,911 |
|
18,076 |
|
18,076 |
| |||||||||||
Commercial construction |
|
873 |
|
20,297 |
|
21,981 |
|
4,423 |
|
873 |
|
873 |
|
20,980 |
|
21,449 |
|
15,672 |
|
23,347 |
|
23,347 |
| |||||||||||
Other commercial real estate |
|
17,532 |
|
43,137 |
|
34,192 |
|
21,284 |
|
16,214 |
|
16,214 |
|
38,732 |
|
36,984 |
|
45,727 |
|
51,447 |
|
51,447 |
| |||||||||||
1-4 family mortgages |
|
4,680 |
|
5,648 |
|
5,466 |
|
5,901 |
|
4,874 |
|
4,874 |
|
3,362 |
|
4,577 |
|
4,648 |
|
5,322 |
|
5,322 |
| |||||||||||
Consumer |
|
8,276 |
|
8,873 |
|
7,246 |
|
6,263 |
|
6,189 |
|
6,189 |
|
7,891 |
|
5,555 |
|
7,823 |
|
7,432 |
|
7,432 |
| |||||||||||
Total non-accrual loans |
|
95,397 |
|
199,545 |
|
198,508 |
|
99,579 |
|
84,534 |
|
84,534 |
|
186,563 |
|
177,495 |
|
171,189 |
|
187,325 |
|
187,325 |
| |||||||||||
90 days or more past due loans |
|
5,552 |
|
7,674 |
|
8,192 |
|
12,582 |
|
8,689 |
|
8,689 |
|
5,231 |
|
6,502 |
|
6,008 |
|
9,227 |
|
9,227 |
| |||||||||||
Total non-performing loans |
|
100,949 |
|
207,219 |
|
206,700 |
|
112,161 |
|
93,223 |
|
93,223 |
|
191,794 |
|
183,997 |
|
177,197 |
|
196,552 |
|
196,552 |
| |||||||||||
Troubled debt restructurings |
|
2,587 |
|
2,076 |
|
7,811 |
|
6,391 |
|
6,867 |
|
6,867 |
|
14,120 |
|
14,529 |
|
7,033 |
|
17,864 |
|
17,864 |
| |||||||||||
Other real estate owned |
|
39,994 |
|
35,276 |
|
28,309 |
|
36,487 |
|
39,953 |
|
39,953 |
|
33,863 |
|
24,407 |
|
23,863 |
|
33,975 |
|
33,975 |
| |||||||||||
Total non-performing assets (3) |
|
$ |
143,530 |
|
$ |
244,571 |
|
$ |
242,820 |
|
$ |
155,039 |
|
$ |
140,043 |
|
$ |
140,043 |
|
$ |
239,777 |
|
$ |
222,933 |
|
$ |
208,093 |
|
$ |
248,391 |
|
$ |
248,391 |
|
30-89 days past due loans (3) |
|
$ |
22,222 |
|
$ |
21,241 |
|
$ |
23,597 |
|
$ |
20,088 |
|
$ |
22,666 |
|
$ |
22,666 |
|
$ |
28,927 |
|
$ |
30,424 |
|
$ |
34,061 |
|
$ |
27,495 |
|
$ |
27,495 |
|
Allowance for credit losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Allowance for loan losses |
|
$ |
85,364 |
|
$ |
115,271 |
|
$ |
115,200 |
|
$ |
93,048 |
|
$ |
87,384 |
|
$ |
87,384 |
|
$ |
142,503 |
|
$ |
137,331 |
|
$ |
127,768 |
|
$ |
118,473 |
|
$ |
118,473 |
|
Allowance for covered loan losses |
|
12,227 |
|
993 |
|
982 |
|
9,397 |
|
12,062 |
|
12,062 |
|
|
|
|
|
1,023 |
|
989 |
|
989 |
| |||||||||||
Reserve for unfunded commitments |
|
2,866 |
|
2,500 |
|
2,500 |
|
2,500 |
|
3,366 |
|
3,366 |
|
2,500 |
|
2,500 |
|
2,500 |
|
2,500 |
|
2,500 |
| |||||||||||
Total allowance for credit losses |
|
$ |
100,457 |
|
$ |
118,764 |
|
$ |
118,682 |
|
$ |
104,945 |
|
$ |
102,812 |
|
$ |
102,812 |
|
$ |
145,003 |
|
$ |
139,831 |
|
$ |
131,291 |
|
$ |
121,962 |
|
$ |
121,962 |
|
Provision for loan and covered loan losses |
|
$ |
5,674 |
|
$ |
18,210 |
|
$ |
22,458 |
|
$ |
111,791 |
|
$ |
5,593 |
|
$ |
158,052 |
|
$ |
19,492 |
|
$ |
18,763 |
|
$ |
20,425 |
|
$ |
21,902 |
|
$ |
80,582 |
|
Net charge-offs by category: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Commercial and industrial |
|
$ |
897 |
|
$ |
7,524 |
|
$ |
5,870 |
|
$ |
41,781 |
|
$ |
1,778 |
|
$ |
56,953 |
|
$ |
3,128 |
|
$ |
5,585 |
|
$ |
10,165 |
|
$ |
8,910 |
|
$ |
27,788 |
|
Agricultural |
|
90 |
|
(50 |
) |
18 |
|
4,531 |
|
(177 |
) |
4,322 |
|
9 |
|
799 |
|
177 |
|
484 |
|
1,469 |
| |||||||||||
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Office, retail, and industrial |
|
1,260 |
|
2,665 |
|
2,263 |
|
29,368 |
|
95 |
|
34,391 |
|
1,183 |
|
609 |
|
2,543 |
|
3,779 |
|
8,114 |
| |||||||||||
Multi-family |
|
160 |
|
9 |
|
313 |
|
2,755 |
|
9 |
|
3,086 |
|
549 |
|
6,652 |
|
2,170 |
|
4,803 |
|
14,174 |
| |||||||||||
Residential construction |
|
565 |
|
463 |
|
3,598 |
|
9,242 |
|
134 |
|
13,437 |
|
5,418 |
|
899 |
|
2,250 |
|
2,498 |
|
11,065 |
| |||||||||||
Commercial construction |
|
(2 |
) |
170 |
|
2,616 |
|
11,037 |
|
100 |
|
13,923 |
|
261 |
|
133 |
|
4,115 |
|
1,673 |
|
6,182 |
| |||||||||||
Other commercial real estate |
|
1,604 |
|
8,177 |
|
2,934 |
|
23,452 |
|
1,786 |
|
36,349 |
|
5,358 |
|
2,107 |
|
4,421 |
|
3,002 |
|
14,888 |
| |||||||||||
1-4 family mortgages |
|
396 |
|
210 |
|
250 |
|
569 |
|
826 |
|
1,855 |
|
246 |
|
340 |
|
320 |
|
196 |
|
1,102 |
| |||||||||||
Consumer |
|
1,861 |
|
1,966 |
|
2,244 |
|
2,351 |
|
1,710 |
|
8,271 |
|
2,317 |
|
2,703 |
|
1,780 |
|
2,199 |
|
8,999 |
| |||||||||||
Net charge-offs, excluding covered loans |
|
6,831 |
|
21,134 |
|
20,106 |
|
125,086 |
|
6,261 |
|
172,587 |
|
18,469 |
|
19,827 |
|
27,941 |
|
27,544 |
|
93,781 |
| |||||||||||
Charge-offs on covered loans |
|
698 |
|
274 |
|
2,434 |
|
442 |
|
1,465 |
|
4,615 |
|
1,092 |
|
4,108 |
|
1,024 |
|
3,687 |
|
9,911 |
| |||||||||||
Total net charge-offs |
|
$ |
7,529 |
|
$ |
21,408 |
|
$ |
22,540 |
|
$ |
125,528 |
|
$ |
7,726 |
|
$ |
177,202 |
|
$ |
19,561 |
|
$ |
23,935 |
|
$ |
28,965 |
|
$ |
31,231 |
|
$ |
103,692 |
|
Total recoveries included above |
|
$ |
3,243 |
|
$ |
1,278 |
|
$ |
1,141 |
|
$ |
731 |
|
$ |
2,455 |
|
$ |
5,605 |
|
$ |
2,008 |
|
$ |
3,813 |
|
$ |
1,033 |
|
$ |
1,030 |
|
$ |
7,884 |
|
Asset Quality ratios (3): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Non-accrual loans to loans |
|
1.84 |
% |
3.88 |
% |
3.75 |
% |
1.91 |
% |
1.63 |
% |
1.63 |
% |
3.66 |
% |
3.47 |
% |
3.35 |
% |
3.68 |
% |
3.68 |
% | |||||||||||
Non-performing loans to loans |
|
1.95 |
% |
4.03 |
% |
3.90 |
% |
2.15 |
% |
1.80 |
% |
1.80 |
% |
3.76 |
% |
3.60 |
% |
3.47 |
% |
3.86 |
% |
3.86 |
% | |||||||||||
Non-performing assets to loans plus OREO |
|
2.75 |
% |
4.73 |
% |
4.56 |
% |
2.95 |
% |
2.68 |
% |
2.68 |
% |
4.67 |
% |
4.34 |
% |
4.06 |
% |
4.85 |
% |
4.85 |
% | |||||||||||
Non-performing assets to tangible common equity plus allowance for credit losses |
|
18.55 |
% |
30.24 |
% |
29.78 |
% |
20.50 |
% |
18.36 |
% |
18.36 |
% |
30.33 |
% |
27.73 |
% |
25.78 |
% |
31.01 |
% |
31.01 |
% | |||||||||||
Non-accrual loans to total assets |
|
1.18 |
% |
2.50 |
% |
2.45 |
% |
1.22 |
% |
1.04 |
% |
1.04 |
% |
2.32 |
% |
2.18 |
% |
2.04 |
% |
2.35 |
% |
2.35 |
% | |||||||||||
Allowance for credit losses and net charge-off ratios, excluding covered loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||
Allowance for credit losses to loans |
|
1.70 |
% |
2.29 |
% |
2.22 |
% |
1.83 |
% |
1.75 |
% |
1.75 |
% |
2.85 |
% |
2.73 |
% |
2.55 |
% |
2.38 |
% |
2.38 |
% | |||||||||||
Allowance for credit losses to non-accrual loans |
|
92.49 |
% |
59.02 |
% |
59.29 |
% |
95.95 |
% |
107.35 |
% |
107.35 |
% |
77.72 |
% |
78.78 |
% |
76.10 |
% |
64.58 |
% |
64.58 |
% | |||||||||||
Allowance for credit losses to non-performing loans |
|
87.40 |
% |
56.83 |
% |
56.94 |
% |
85.19 |
% |
97.35 |
% |
97.35 |
% |
75.60 |
% |
76.00 |
% |
73.52 |
% |
61.55 |
% |
61.55 |
% | |||||||||||
Net charge-offs to average net loans (2) |
|
0.54 |
% |
1.67 |
% |
1.55 |
% |
9.29 |
% |
0.48 |
% |
3.32 |
% |
1.48 |
% |
1.56 |
% |
2.16 |
% |
2.15 |
% |
1.84 |
% | |||||||||||
Allowance for credit losses to loans, including covered loans |
|
1.87 |
% |
2.20 |
% |
2.15 |
% |
1.93 |
% |
1.91 |
% |
1.91 |
% |
2.66 |
% |
2.58 |
% |
2.43 |
% |
2.28 |
% |
2.28 |
% |
Footnotes:
(1) Tax equivalent basis reflects federal and state tax benefits.
(2) Annualized based on the actual number of days for each period presented.
(3) Excludes covered loans and covered OREO.