Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - FIRST MIDWEST BANCORP INC | d8k.htm |
| EX-99.1 - PRESS RELEASE - FIRST MIDWEST BANCORP INC | dex991.htm |
Exhibit 99.2
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
| 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||||||||||||||||||||||||||||
| 1st Quarter | 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 |
|||||||||||||||||||||||||||||||||||||
| Period-End Balance Sheet |
||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and cash equivalents |
$ | 526,460 | $ | 585,776 | $ | 585,776 | $ | 735,945 | $ | 373,080 | $ | 126,914 | $ | 127,379 | $ | 127,379 | $ | 197,598 | $ | 139,954 | $ | 107,327 | $ | 114,308 | ||||||||||||||||||||||||
| Securities available-for-sale |
1,057,758 | 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 | ||||||||||||||||||||||||||||||||||||
| Securities held-to-maturity |
81,218 | 81,320 | 81,320 | 85,687 | 87,843 | 90,449 | 84,182 | 84,182 | 83,860 | 86,245 | 81,566 | 84,306 | ||||||||||||||||||||||||||||||||||||
| FHLB and FRB stock |
61,338 | 61,338 | 61,338 | 62,038 | 59,864 | 59,428 | 56,428 | 56,428 | 54,768 | 54,768 | 54,768 | 54,767 | ||||||||||||||||||||||||||||||||||||
| Loans held-for-sale |
3,800 | 236 | 236 | 1,168 | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| Loans: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial |
1,493,465 | 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 | ||||||||||||||||||||||||||||||||||||
| Agricultural |
234,898 | 227,756 | 227,756 | 212,800 | 199,597 | 200,527 | 209,945 | 209,945 | 200,955 | 210,675 | 219,178 | 216,814 | ||||||||||||||||||||||||||||||||||||
| Commercial real estate: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Office, retail, and industrial |
1,205,880 | 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 | ||||||||||||||||||||||||||||||||||||
| Multi-family |
344,645 | 349,862 | 349,862 | 350,458 | 369,281 | 348,178 | 333,961 | 333,961 | 342,807 | 305,976 | 311,865 | 286,963 | ||||||||||||||||||||||||||||||||||||
| Residential construction |
151,887 | 174,690 | 174,690 | 226,126 | 241,094 | 276,322 | 313,919 | 313,919 | 400,502 | 458,913 | 466,195 | 509,059 | ||||||||||||||||||||||||||||||||||||
| Commercial construction |
153,392 | 164,472 | 164,472 | 193,041 | 202,041 | 233,662 | 231,518 | 231,518 | 301,462 | 325,425 | 340,215 | 356,575 | ||||||||||||||||||||||||||||||||||||
| Other commercial real estate |
850,334 | 856,357 | 856,357 | 837,877 | 831,723 | 790,502 | 798,983 | 798,983 | 753,429 | 759,132 | 725,311 | 729,329 | ||||||||||||||||||||||||||||||||||||
| 1-4 family mortgages |
178,538 | 160,890 | 160,890 | 150,110 | 145,457 | 139,840 | 139,983 | 139,983 | 138,862 | 171,186 | 185,486 | 198,197 | ||||||||||||||||||||||||||||||||||||
| Consumer |
482,504 | 497,017 | 497,017 | 506,166 | 504,844 | 512,546 | 523,909 | 523,909 | 532,174 | 534,303 | 543,716 | 547,784 | ||||||||||||||||||||||||||||||||||||
| Total loans, excluding covered loans |
5,095,543 | 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 | ||||||||||||||||||||||||||||||||||||
| Covered loans |
352,357 | 374,640 | 374,640 | 399,032 | 164,924 | 144,369 | 146,319 | 146,319 | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| Allowance for loan losses |
(142,503 | ) | (142,572 | ) | (142,572 | ) | (144,569 | ) | (145,027 | ) | (144,824 | ) | (144,808 | ) | (144,808 | ) | (134,269 | ) | (127,528 | ) | (116,001 | ) | (93,869 | ) | ||||||||||||||||||||||||
| Net loans |
5,305,397 | 5,332,628 | 5,332,628 | 5,419,129 | 5,228,244 | 5,195,419 | 5,204,757 | 5,204,757 | 5,171,799 | 5,213,243 | 5,271,127 | 5,266,194 | ||||||||||||||||||||||||||||||||||||
| Other real estate owned |
33,863 | 31,069 | 31,069 | 52,044 | 57,023 | 62,565 | 57,137 | 57,137 | 57,945 | 50,640 | 38,984 | 24,368 | ||||||||||||||||||||||||||||||||||||
| Covered other real estate owned |
28,871 | 29,698 | 29,698 | 31,550 | 10,657 | 8,649 | 8,981 | 8,981 | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| FDIC indemnification asset |
78,468 | 88,981 | 88,981 | 88,723 | 75,991 | 54,591 | 67,945 | 67,945 | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| Bank owned life insurance |
197,889 | 197,644 | 197,644 | 198,666 | 198,399 | 198,201 | 197,962 | 197,962 | 197,681 | 197,564 | 199,070 | 198,533 | ||||||||||||||||||||||||||||||||||||
| Goodwill and other intangibles |
290,135 | 291,383 | 291,383 | 292,523 | 281,255 | 280,477 | 281,479 | 281,479 | 281,614 | 282,592 | 283,570 | 284,548 | ||||||||||||||||||||||||||||||||||||
| Other assets |
379,791 | 389,098 | 389,098 | 350,412 | 342,624 | 364,175 | 357,662 | 357,662 | 283,500 | 292,224 | 314,245 | 285,131 | ||||||||||||||||||||||||||||||||||||
| Total assets |
$ | 8,044,988 | $ | 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 | ||||||||||||||||||||||||
| Deposits: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Demand deposits |
$ | 1,346,698 | $ | 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 | ||||||||||||||||||||||||
| Interest bearing deposits |
5,073,196 | 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 | ||||||||||||||||||||||||||||||||||||
| Total deposits |
6,419,894 | 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 | ||||||||||||||||||||||||||||||||||||
| Borrowed funds |
273,342 | 303,974 | 303,974 | 323,077 | 328,470 | 387,163 | 691,176 | 691,176 | 716,299 | 792,176 | 1,535,752 | 1,698,334 | ||||||||||||||||||||||||||||||||||||
| Subordinated debt |
137,746 | 137,744 | 137,744 | 137,741 | 137,739 | 137,737 | 137,735 | 137,735 | 157,717 | 232,342 | 232,375 | 232,409 | ||||||||||||||||||||||||||||||||||||
| Other liabilities |
90,130 | 81,734 | 81,734 | 78,358 | 59,803 | 60,135 | 54,961 | 54,961 | 71,686 | 84,085 | 72,455 | 103,565 | ||||||||||||||||||||||||||||||||||||
| Stockholders’ equity |
1,123,876 | 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 | ||||||||||||||||||||||||||||||||||||
| Total assets |
$ | 8,044,988 | $ | 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 | ||||||||||||||||||||||||
| Stockholders’ equity, excluding OCI |
1,148,249 | 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 | ||||||||||||||||||||||||||||||||||||
| Stockholders’ equity, common |
930,876 | 919,045 | 919,045 | 967,059 | 962,512 | 950,768 | 748,521 | 748,521 | 790,579 | 699,053 | 710,612 | 715,949 | ||||||||||||||||||||||||||||||||||||
| Stockholders’ equity, common excluding OCI |
955,249 | 946,784 | 946,784 | 976,262 | 975,315 | 969,646 | 767,187 | 767,187 | 806,796 | 748,535 | 748,082 | 733,991 | ||||||||||||||||||||||||||||||||||||
| Stockholders’ equity, preferred |
193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 193,000 | 192,330 | ||||||||||||||||||||||||||||||||||||
| Average Balance Sheet |
||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets |
$ | 8,094,951 | $ | 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 | ||||||||||||||||||||||||
| Securities held-to-maturity |
79,619 | 86,866 | 83,321 | 86,060 | 92,226 | 85,893 | 85,984 | 89,459 | 84,866 | 86,583 | 82,969 | 92,388 | ||||||||||||||||||||||||||||||||||||
| Securities available-for-sale |
1,087,372 | 1,120,170 | 1,055,806 | 1,092,734 | 1,121,229 | 1,212,939 | 1,661,228 | 1,312,430 | 1,433,424 | 1,800,843 | 2,109,477 | 2,108,197 | ||||||||||||||||||||||||||||||||||||
| FHLB and FRB stock |
61,338 | 60,249 | 61,703 | 60,998 | 59,758 | 58,495 | 55,081 | 56,013 | 54,768 | 54,768 | 54,768 | 54,767 | ||||||||||||||||||||||||||||||||||||
| Total loans, excluding covered loans |
5,075,840 | 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 | ||||||||||||||||||||||||||||||||||||
| Covered loans |
363,138 | 249,598 | 390,537 | 287,293 | 172,295 | 145,157 | 28,049 | 111,281 | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| FDIC indemnification asset |
81,104 | 73,997 | 90,075 | 80,434 | 61,612 | 63,506 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| Other earning assets |
483,252 | 382,023 | 609,391 | 464,793 | 314,480 | 55,275 | 102,801 | 52,324 | 210,667 | 129,716 | 16,921 | 35,310 | ||||||||||||||||||||||||||||||||||||
| Total earning assets |
7,231,663 | 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 | ||||||||||||||||||||||||||||||||||||
| Deposits: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Demand deposits |
1,342,013 | 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 | ||||||||||||||||||||||||||||||||||||
| Savings deposits |
901,205 | 815,371 | 864,334 | 832,672 | 803,353 | 759,786 | 751,386 | 744,876 | 749,995 | 762,375 | 748,350 | 792,524 | ||||||||||||||||||||||||||||||||||||
| NOW accounts |
1,044,280 | 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 | ||||||||||||||||||||||||||||||||||||
| Money market deposits |
1,240,439 | 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 | ||||||||||||||||||||||||||||||||||||
| Core transactional deposits |
4,527,937 | 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 | ||||||||||||||||||||||||||||||||||||
| Time deposits |
1,937,890 | 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 | ||||||||||||||||||||||||||||||||||||
| Total deposits |
6,465,827 | 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 | ||||||||||||||||||||||||||||||||||||
| Borrowed funds |
285,847 | 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 | ||||||||||||||||||||||||||||||||||||
| Subordinated debt |
137,745 | 137,739 | 137,743 | 137,740 | 137,738 | 137,736 | 208,621 | 143,816 | 226,693 | 232,358 | 232,391 | 231,961 | ||||||||||||||||||||||||||||||||||||
| Total funding sources |
6,889,419 | 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 | ||||||||||||||||||||||||||||||||||||
| Stockholders’ equity |
1,122,315 | 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 | ||||||||||||||||||||||||||||||||||||
| Stockholders’ equity, common |
929,315 | 955,219 | 963,263 | 970,661 | 959,394 | 926,866 | 734,673 | 790,595 | 712,347 | 714,421 | 720,809 | 750,497 | ||||||||||||||||||||||||||||||||||||
| Stockholders’ equity, preferred |
193,000 | 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)
| 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||||||||||||||||||||||||||||
| 1st Quarter |
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 |
|||||||||||||||||||||||||||||||||||||
| Income Statement |
||||||||||||||||||||||||||||||||||||||||||||||||
| Interest income |
$ | 81,283 | $ | 328,867 | $ | 82,476 | $ | 82,338 | $ | 82,274 | $ | 81,779 | $ | 341,751 | $ | 82,370 | $ | 82,762 | $ | 85,139 | $ | 91,480 | $ | 409,207 | ||||||||||||||||||||||||
| Interest expense |
10,637 | 49,518 | 10,897 | 12,125 | 12,655 | 13,841 | 90,219 | 16,429 | 21,781 | 24,748 | 27,261 | 162,610 | ||||||||||||||||||||||||||||||||||||
| Net interest income |
70,646 | 279,349 | 71,579 | 70,213 | 69,619 | 67,938 | 251,532 | 65,941 | 60,981 | 60,391 | 64,219 | 246,597 | ||||||||||||||||||||||||||||||||||||
| Provision for loan losses |
19,492 | 147,349 | 73,897 | 33,576 | 21,526 | 18,350 | 215,672 | 93,000 | 38,000 | 36,262 | 48,410 | 70,254 | ||||||||||||||||||||||||||||||||||||
| Service charges on deposit accounts |
8,144 | 35,884 | 9,202 | 9,249 | 9,052 | 8,381 | 38,754 | 9,977 | 10,046 | 9,687 | 9,044 | 44,987 | ||||||||||||||||||||||||||||||||||||
| Trust and investment advisory fees |
4,116 | 15,063 | 4,040 | 3,728 | 3,702 | 3,593 | 14,059 | 3,704 | 3,555 | 3,471 | 3,329 | 15,130 | ||||||||||||||||||||||||||||||||||||
| Other service charges, commissions, and fees |
4,914 | 18,238 | 4,506 | 4,932 | 4,628 | 4,172 | 16,529 | 4,280 | 4,222 | 4,021 | 4,006 | 18,846 | ||||||||||||||||||||||||||||||||||||
| Card-based fees |
4,529 | 17,577 | 4,640 | 4,547 | 4,497 | 3,893 | 15,826 | 4,000 | 4,023 | 4,048 | 3,755 | 16,143 | ||||||||||||||||||||||||||||||||||||
| Subtotal, total fee-based revenue |
21,703 | 86,762 | 22,388 | 22,456 | 21,879 | 20,039 | 85,168 | 21,961 | 21,846 | 21,227 | 20,134 | 95,106 | ||||||||||||||||||||||||||||||||||||
| Bank owned life insurance income |
252 | 1,560 | 696 | 267 | 349 | 248 | 2,263 | 281 | 282 | 1,159 | 541 | (2,369 | ) | |||||||||||||||||||||||||||||||||||
| Security gains (losses), net |
540 | 12,216 | 1,662 | 6,376 | 1,121 | 3,057 | 2,110 | (5,772 | ) | (6,975 | ) | 6,635 | 8,222 | (35,611 | ) | |||||||||||||||||||||||||||||||||
| 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 |
1,722 | 3,710 | 1,421 | 1,654 | (342 | ) | 977 | 5,132 | 939 | 1,946 | 2,373 | (126 | ) | (3,119 | ) | |||||||||||||||||||||||||||||||||
| Total noninterest income |
24,217 | 108,551 | 26,167 | 30,753 | 27,310 | 24,321 | 123,002 | 31,747 | 31,090 | 31,394 | 28,771 | 54,007 | ||||||||||||||||||||||||||||||||||||
| Salaries and employee benefits |
32,523 | 114,378 | 31,028 | 29,926 | 26,540 | 26,884 | 106,548 | 27,592 | 27,416 | 28,229 | 23,311 | 99,910 | ||||||||||||||||||||||||||||||||||||
| Occupancy and equipment expense |
9,103 | 32,218 | 7,916 | 8,326 | 7,808 | 8,168 | 31,724 | 7,661 | 7,837 | 7,389 | 8,837 | 33,334 | ||||||||||||||||||||||||||||||||||||
| FDIC insurance |
2,725 | 10,880 | 2,967 | 2,835 | 2,546 | 2,532 | 13,673 | 2,720 | 2,558 | 6,034 | 2,361 | 1,065 | ||||||||||||||||||||||||||||||||||||
| Losses realized on OREO |
2,227 | 40,480 | 15,412 | 8,265 | 8,924 | 7,879 | 18,554 | 14,051 | 1,801 | 2,387 | 315 | 1,566 | ||||||||||||||||||||||||||||||||||||
| Other real estate expense, net |
1,704 | 9,554 | 2,408 | 1,312 | 2,926 | 2,908 | 4,905 | 1,642 | 1,660 | 914 | 689 | 1,843 | ||||||||||||||||||||||||||||||||||||
| Other intangibles amortization |
957 | 4,278 | 1,139 | 1,107 | 1,029 | 1,003 | 3,929 | 994 | 979 | 978 | 978 | 4,378 | ||||||||||||||||||||||||||||||||||||
| Other expenses |
15,884 | 66,991 | 16,204 | 17,006 | 17,682 | 16,099 | 55,455 | 15,861 | 14,389 | 13,302 | 11,903 | 52,209 | ||||||||||||||||||||||||||||||||||||
| Total noninterest expense |
65,123 | 278,779 | 77,074 | 68,777 | 67,455 | 65,473 | 234,788 | 70,521 | 56,640 | 59,233 | 48,394 | 194,305 | ||||||||||||||||||||||||||||||||||||
| Pre-tax earnings |
10,248 | (38,228 | ) | (53,225 | ) | (1,387 | ) | 7,948 | 8,436 | (75,926 | ) | (65,833 | ) | (2,569 | ) | (3,710 | ) | (3,814 | ) | 36,045 | ||||||||||||||||||||||||||||
| Income taxes |
30 | (28,544 | ) | (25,066 | ) | (3,972 | ) | 139 | 355 | (50,176 | ) | (28,342 | ) | (5,920 | ) | (6,373 | ) | (9,541 | ) | (13,291 | ) | |||||||||||||||||||||||||||
| Net income |
$ | 10,218 | $ | (9,684 | ) | $ | (28,159 | ) | $ | 2,585 | $ | 7,809 | $ | 8,081 | $ | (25,750 | ) | $ | (37,491 | ) | $ | 3,351 | $ | 2,663 | $ | 5,727 | $ | 49,336 | ||||||||||||||||||||
| Net income applicable to common shares |
$ | 7,497 | $ | (19,717 | ) | $ | (30,327 | ) | $ | 11 | $ | 5,171 | $ | 5,428 | $ | (35,551 | ) | $ | (39,542 | ) | $ | 773 | $ | 63 | $ | 3,155 | $ | 48,482 | ||||||||||||||||||||
| Basic earnings per common share |
$ | 0.10 | $ | (0.27 | ) | $ | (0.41 | ) | $ | 0.00 | $ | 0.07 | $ | 0.08 | $ | (0.71 | ) | $ | (0.73 | ) | $ | 0.02 | $ | 0.00 | $ | 0.07 | $ | 1.00 | ||||||||||||||||||||
| Diluted earnings per common share |
$ | 0.10 | $ | (0.27 | ) | $ | (0.41 | ) | $ | 0.00 | $ | 0.07 | $ | 0.08 | $ | (0.71 | ) | $ | (0.73 | ) | $ | 0.02 | $ | 0.00 | $ | 0.07 | $ | 1.00 | ||||||||||||||||||||
| Weighted average shares outstanding |
73,151 | 72,422 | 73,085 | 73,072 | 73,028 | 70,469 | 50,034 | 54,152 | 48,942 | 48,501 | 48,493 | 48,462 | ||||||||||||||||||||||||||||||||||||
| Weighted average diluted shares outstanding |
73,151 | 72,422 | 73,085 | 73,072 | 73,028 | 70,469 | 50,034 | 54,152 | 48,942 | 48,501 | 48,493 | 48,515 | ||||||||||||||||||||||||||||||||||||
| Tax equivalent adjustment (1) |
$ | 3,567 | $ | 16,312 | $ | 3,742 | $ | 4,053 | $ | 4,265 | $ | 4,252 | $ | 19,658 | $ | 4,448 | $ | 4,691 | $ | 5,091 | $ | 5,428 | $ | 22,225 | ||||||||||||||||||||||||
| Net interest income (FTE) (1) |
$ | 74,213 | $ | 295,661 | $ | 75,321 | $ | 74,266 | $ | 73,884 | $ | 72,190 | $ | 271,190 | $ | 70,389 | $ | 65,672 | $ | 65,482 | $ | 69,647 | $ | 268,822 | ||||||||||||||||||||||||
| Common stock and related per common share data: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Book value |
$ | 12.49 | $ | 12.40 | $ | 12.40 | $ | 13.06 | $ | 13.00 | $ | 12.84 | $ | 13.66 | $ | 13.66 | $ | 14.43 | $ | 14.22 | $ | 14.61 | $ | 14.72 | ||||||||||||||||||||||||
| Tangible book value |
8.60 | 8.47 | 8.47 | 9.11 | 9.20 | 9.05 | 8.52 | 8.52 | 9.29 | 8.47 | 8.78 | 8.87 | ||||||||||||||||||||||||||||||||||||
| Dividends declared per share |
0.010 | 0.040 | 0.010 | 0.010 | 0.010 | 0.010 | 0.040 | 0.010 | 0.010 | 0.010 | 0.010 | 1.155 | ||||||||||||||||||||||||||||||||||||
| Market price - period high |
13.07 | 17.95 | 13.13 | 13.43 | 17.95 | 14.43 | 20.25 | 11.50 | 11.64 | 12.00 | 20.25 | 40.09 | ||||||||||||||||||||||||||||||||||||
| Market price - period low |
10.79 | 9.26 | 9.26 | 10.72 | 12.10 | 10.37 | 5.94 | 9.09 | 6.19 | 5.94 | 5.96 | 13.56 | ||||||||||||||||||||||||||||||||||||
| Closing price at period end |
$ | 11.79 | $ | 11.52 | $ | 11.52 | $ | 11.53 | $ | 12.16 | $ | 13.55 | $ | 10.89 | $ | 10.89 | $ | 11.27 | $ | 7.31 | $ | 8.59 | $ | 19.97 | ||||||||||||||||||||||||
| Closing price to book value |
0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 1.1 | 0.8 | 0.8 | 0.8 | 0.5 | 0.6 | 1.4 | ||||||||||||||||||||||||||||||||||||
| Period end shares outstanding |
74,543 | 74,096 | 74,096 | 74,057 | 74,049 | 74,046 | 54,793 | 54,793 | 54,800 | 49,161 | 48,628 | 48,630 | ||||||||||||||||||||||||||||||||||||
| Period end treasury shares |
11,244 | 11,691 | 11,691 | 11,730 | 11,738 | 11,741 | 12,176 | 12,176 | 12,169 | 12,165 | 12,698 | 12,696 | ||||||||||||||||||||||||||||||||||||
| Number of shares repurchased |
— | — | — | — | — | — | — | — | — | — | — | 5 | ||||||||||||||||||||||||||||||||||||
| Common dividends |
$ | 746 | $ | 2,965 | $ | 741 | $ | 743 | $ | 741 | $ | 740 | $ | 2,020 | $ | 492 | $ | 556 | $ | 486 | $ | 486 | $ | 56,206 | ||||||||||||||||||||||||
| Preferred dividends |
$ | 2,413 | $ | 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) |
3.27 | % | -2.06 | % | -12.49 | % | 0.00 | % | 2.16 | % | 2.38 | % | -4.84 | % | -19.84 | % | 0.43 | % | 0.04 | % | 1.78 | % | 6.46 | % | ||||||||||||||||||||||||
| Return on average assets (2) |
0.51 | % | -0.12 | % | -1.34 | % | 0.13 | % | 0.40 | % | 0.43 | % | -0.32 | % | -1.92 | % | 0.17 | % | 0.13 | % | 0.28 | % | 0.60 | % | ||||||||||||||||||||||||
| Net interest margin (1) |
4.15 | % | 4.13 | % | 4.02 | % | 4.05 | % | 4.21 | % | 4.28 | % | 3.72 | % | 4.04 | % | 3.66 | % | 3.53 | % | 3.67 | % | 3.61 | % | ||||||||||||||||||||||||
| Yield on average earning assets (1) |
4.75 | % | 4.82 | % | 4.60 | % | 4.72 | % | 4.94 | % | 5.10 | % | 4.96 | % | 4.98 | % | 4.88 | % | 4.86 | % | 5.12 | % | 5.80 | % | ||||||||||||||||||||||||
| Cost of funds |
0.78 | % | 0.89 | % | 0.75 | % | 0.84 | % | 0.92 | % | 1.05 | % | 1.50 | % | 1.17 | % | 1.48 | % | 1.61 | % | 1.73 | % | 2.56 | % | ||||||||||||||||||||||||
| Efficiency ratio (1) |
62.40 | % | 58.84 | % | 59.08 | % | 59.91 | % | 57.92 | % | 58.41 | % | 57.86 | % | 58.48 | % | 59.13 | % | 61.45 | % | 52.33 | % | 53.49 | % | ||||||||||||||||||||||||
| Net noninterest expense ratio (2) |
2.08 | % | 2.33 | % | 2.51 | % | 2.15 | % | 2.31 | % | 2.34 | % | 1.76 | % | 2.42 | % | 1.64 | % | 1.69 | % | 1.34 | % | 1.27 | % | ||||||||||||||||||||||||
| Effective income tax rate |
0.29 | % | 74.67 | % | 47.09 | % | 286.37 | % | 1.75 | % | 4.21 | % | 66.09 | % | 43.05 | % | 230.44 | % | 171.78 | % | 250.16 | % | -36.87 | % | ||||||||||||||||||||||||
| Full time equivalent employees - end of period |
1,845 | 1,838 | 1,838 | 1,884 | 1,762 | 1,729 | 1,739 | 1,739 | 1,751 | 1,766 | 1,767 | 1,809 | ||||||||||||||||||||||||||||||||||||
| Number of bank offices |
97 | 98 | 98 | 100 | 95 | 94 | 94 | 94 | 94 | 94 | 97 | 97 | ||||||||||||||||||||||||||||||||||||
| Number of automated teller machines |
136 | 137 | 137 | 129 | 131 | 129 | 127 | 127 | 127 | 128 | 130 | 129 | ||||||||||||||||||||||||||||||||||||
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)
| 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||||||||||||||||||||||||||||
| 1st Quarter |
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 |
|||||||||||||||||||||||||||||||||||||
| Core Operating Earnings |
||||||||||||||||||||||||||||||||||||||||||||||||
| Pre-tax earnings |
$ | 10,248 | $ | (38,228 | ) | $ | (53,225 | ) | $ | (1,387 | ) | $ | 7,948 | $ | 8,436 | $ | (75,926 | ) | $ | (65,833 | ) | $ | (2,569 | ) | $ | (3,710 | ) | $ | (3,814 | ) | $ | 36,045 | ||||||||||||||||
| Provision for credit losses |
19,492 | 147,349 | 73,897 | 33,576 | 21,526 | 18,350 | 215,672 | 93,000 | 38,000 | 36,262 | 48,410 | 70,254 | ||||||||||||||||||||||||||||||||||||
| Pre-tax, pre-provision earnings |
29,740 | 109,121 | 20,672 | 32,189 | 29,474 | 26,786 | 139,746 | 27,167 | 35,431 | 32,552 | 44,596 | 106,299 | ||||||||||||||||||||||||||||||||||||
| Non-operating items: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Security gains (losses), net |
540 | 12,216 | 1,662 | 6,376 | 1,121 | 3,057 | 2,110 | (5,772 | ) | (6,975 | ) | 6,635 | 8,222 | (35,611 | ) | |||||||||||||||||||||||||||||||||
| 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 |
(2,227 | ) | (40,480 | ) | (15,412 | ) | (8,265 | ) | (8,924 | ) | (7,879 | ) | (18,554 | ) | (14,051 | ) | (1,801 | ) | (2,387 | ) | (315 | ) | (1,566 | ) | ||||||||||||||||||||||||
| FDIC special deposit insurance assessment |
— | — | — | — | — | — | (3,500 | ) | — | — | (3,500 | ) | — | — | ||||||||||||||||||||||||||||||||||
| Total non-operating items |
(1,687 | ) | (27,285 | ) | (14,326 | ) | (2,736 | ) | (5,272 | ) | (4,951 | ) | 8,385 | (5,485 | ) | 5,215 | 748 | 7,907 | (47,537 | ) | ||||||||||||||||||||||||||||
| Pre-tax, pre-provision core operating earnings |
$ | 31,427 | $ | 136,406 | $ | 34,998 | $ | 34,925 | $ | 34,746 | $ | 31,737 | $ | 131,361 | $ | 32,652 | $ | 30,216 | $ | 31,804 | $ | 36,689 | $ | 153,836 | ||||||||||||||||||||||||
| Parent Company Data: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Parent investment in subsidiaries - end of period |
$ | 1,190,525 | $ | 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 | ||||||||||||||||||||||||
| Risk-Based Capital Data: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Preferred stock |
$ | 191,050 | $ | 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 | 858 | 670 | 670 | 670 | 613 | 613 | 613 | ||||||||||||||||||||||||||||||||||||
| Accumulated paid in capital |
422,405 | 437,550 | 437,550 | 436,774 | 435,605 | 434,704 | 252,322 | 252,322 | 251,423 | 193,623 | 211,325 | 210,698 | ||||||||||||||||||||||||||||||||||||
| Retained earnings |
794,569 | 787,678 | 787,678 | 819,157 | 819,890 | 815,395 | 810,626 | 810,626 | 851,178 | 850,950 | 851,339 | 837,390 | ||||||||||||||||||||||||||||||||||||
| Treasury stock |
(260,633 | ) | (277,184 | ) | (277,184 | ) | (278,243 | ) | (278,591 | ) | (278,703 | ) | (293,664 | ) | (293,664 | ) | (293,551 | ) | (293,572 | ) | (311,963 | ) | (311,997 | ) | ||||||||||||||||||||||||
| Trust preferred securities |
84,730 | 84,730 | 84,730 | 84,730 | 84,730 | 84,730 | 84,730 | 84,730 | 84,730 | 125,000 | 125,000 | 125,000 | ||||||||||||||||||||||||||||||||||||
| Minority interest |
— | — | — | 1 | 1 | 3 | 5 | 5 | 111 | 111 | 111 | 111 | ||||||||||||||||||||||||||||||||||||
| Unrealized loss on equity securities |
— | — | — | — | — | — | — | — | — | (46 | ) | (238 | ) | (126 | ) | |||||||||||||||||||||||||||||||||
| Intangible assets |
(290,135 | ) | (291,383 | ) | (291,383 | ) | (292,523 | ) | (281,255 | ) | (280,477 | ) | (281,479 | ) | (281,479 | ) | (281,614 | ) | (282,592 | ) | (283,570 | ) | (284,548 | ) | ||||||||||||||||||||||||
| Disallowed deferred tax assets |
(43,392 | ) | (41,071 | ) | (41,071 | ) | (13,662 | ) | (1,761 | ) | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||
| Tier 1 capital |
899,452 | 892,060 | 892,060 | 947,808 | 970,030 | 966,902 | 763,443 | 763,443 | 803,023 | 784,008 | 782,385 | 766,758 | ||||||||||||||||||||||||||||||||||||
| Tier 2 capital |
130,062 | 130,380 | 130,380 | 131,593 | 130,863 | 131,114 | 131,836 | 131,836 | 149,073 | 179,709 | 182,844 | 182,675 | ||||||||||||||||||||||||||||||||||||
| Total capital |
$ | 1,029,514 | $ | 1,022,440 | $ | 1,022,440 | $ | 1,079,401 | $ | 1,100,893 | $ | 1,098,016 | $ | 895,279 | $ | 895,279 | $ | 952,096 | $ | 963,717 | $ | 965,229 | $ | 949,433 | ||||||||||||||||||||||||
| Risk-adjusted assets |
$ | 6,294,355 | $ | 6,320,116 | $ | 6,320,116 | $ | 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 | ||||||||||||||||||||||||
| Tier 1 common capital |
621,722 | 614,330 | 614,330 | 670,078 | 692,300 | 689,172 | 485,713 | 485,713 | 525,293 | 466,008 | 464,385 | 449,428 | ||||||||||||||||||||||||||||||||||||
| Tangible common equity |
640,741 | 627,662 | 627,662 | 674,536 | 681,257 | 670,291 | 467,042 | 467,042 | 508,965 | 416,461 | 427,042 | 431,401 | ||||||||||||||||||||||||||||||||||||
| Tangible common equity excluding OCI |
665,114 | 655,401 | 655,401 | 683,739 | 694,060 | 689,169 | 485,708 | 485,708 | 525,182 | 465,943 | 464,512 | 449,443 | ||||||||||||||||||||||||||||||||||||
| Adjusted average assets |
7,799,463 | 7,996,836 | 7,996,836 | 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 | ||||||||||||||||||||||||||||||||||||
| Total capital / risk-based assets |
16.36 | % | 16.18 | % | 16.18 | % | 16.82 | % | 17.32 | % | 17.23 | % | 13.94 | % | 13.94 | % | 15.27 | % | 15.21 | % | 14.62 | % | 14.36 | % | ||||||||||||||||||||||||
| Tier 1 capital / risk-based assets |
14.29 | % | 14.11 | % | 14.11 | % | 14.77 | % | 15.27 | % | 15.17 | % | 11.88 | % | 11.88 | % | 12.88 | % | 12.38 | % | 11.85 | % | 11.60 | % | ||||||||||||||||||||||||
| Leverage ratio |
11.53 | % | 11.16 | % | 11.16 | % | 11.99 | % | 12.69 | % | 13.06 | % | 10.18 | % | 10.18 | % | 10.52 | % | 9.87 | % | 9.60 | % | 9.41 | % | ||||||||||||||||||||||||
| Tier 1 common capital / risk-based assets |
9.88 | % | 9.72 | % | 9.72 | % | 10.44 | % | 10.89 | % | 10.81 | % | 7.56 | % | 7.56 | % | 8.43 | % | 7.36 | % | 7.04 | % | 6.79 | % | ||||||||||||||||||||||||
| Tangible common equity ratio |
8.26 | % | 7.99 | % | 7.99 | % | 8.34 | % | 9.05 | % | 9.17 | % | 6.29 | % | 6.29 | % | 6.88 | % | 5.56 | % | 5.36 | % | 5.23 | % | ||||||||||||||||||||||||
| Tangible common equity ratio, excluding OCI |
8.58 | % | 8.34 | % | 8.34 | % | 8.46 | % | 9.22 | % | 9.42 | % | 6.54 | % | 6.54 | % | 7.10 | % | 6.23 | % | 5.83 | % | 5.45 | % | ||||||||||||||||||||||||
| Tangible common equity / risk-based assets |
10.18 | % | 9.93 | % | 9.93 | % | 10.51 | % | 10.72 | % | 10.52 | % | 7.27 | % | 7.27 | % | 8.16 | % | 6.57 | % | 6.47 | % | 6.53 | % | ||||||||||||||||||||||||
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
| 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||||||||||||||||||||||||||||
| 1st Quarter |
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 |
|||||||||||||||||||||||||||||||||||||
| Asset Quality Performance Data: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Non-accrual loans: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial |
$ | 54,561 | $ | 50,088 | $ | 50,088 | $ | 40,955 | $ | 39,942 | $ | 38,095 | $ | 28,193 | $ | 28,193 | $ | 45,134 | $ | 41,542 | $ | 33,245 | $ | 15,586 | ||||||||||||||||||||||||
| Agricultural |
1,171 | 2,497 | 2,497 | 3,495 | 1,139 | 2,532 | 2,673 | 2,673 | 2,384 | 452 | 12 | 12 | ||||||||||||||||||||||||||||||||||||
| Commercial real estate: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Office, retail, and industrial |
16,753 | 19,573 | 19,573 | 21,721 | 17,170 | 18,204 | 21,396 | 21,396 | 15,738 | 13,058 | 12,769 | 2,533 | ||||||||||||||||||||||||||||||||||||
| Multi-family |
6,787 | 6,203 | 6,203 | 6,813 | 7,904 | 8,349 | 12,486 | 12,486 | 15,910 | 10,632 | 6,989 | 1,387 | ||||||||||||||||||||||||||||||||||||
| Residential construction |
36,326 | 52,122 | 52,122 | 61,050 | 71,148 | 93,412 | 112,798 | 112,798 | 138,593 | 143,231 | 107,766 | 97,060 | ||||||||||||||||||||||||||||||||||||
| Commercial construction |
20,980 | 28,685 | 28,685 | 21,471 | 20,457 | 20,023 | 20,864 | 20,864 | 2,908 | 3,833 | 8,996 | 2,092 | ||||||||||||||||||||||||||||||||||||
| Other commercial real estate |
38,732 | 40,605 | 40,605 | 44,516 | 21,950 | 21,806 | 32,357 | 32,357 | 22,910 | 17,429 | 7,017 | 4,822 | ||||||||||||||||||||||||||||||||||||
| 1-4 family mortgages |
3,362 | 3,902 | 3,902 | 3,310 | 5,706 | 5,826 | 5,819 | 5,819 | 4,975 | 1,034 | 1,756 | 857 | ||||||||||||||||||||||||||||||||||||
| Consumer |
7,891 | 8,107 | 8,107 | 8,035 | 8,273 | 7,826 | 7,629 | 7,629 | 8,253 | 6,042 | 4,991 | 3,419 | ||||||||||||||||||||||||||||||||||||
| Total non-accrual loans |
186,563 | 211,782 | 211,782 | 211,366 | 193,689 | 216,073 | 244,215 | 244,215 | 256,805 | 237,253 | 183,541 | 127,768 | ||||||||||||||||||||||||||||||||||||
| Loans past due 90 days and still accruing |
5,231 | 4,244 | 4,244 | 9,136 | 6,280 | 7,995 | 4,079 | 4,079 | 5,960 | 26,071 | 73,929 | 36,999 | ||||||||||||||||||||||||||||||||||||
| Total non-performing loans |
191,794 | 216,026 | 216,026 | 220,502 | 199,969 | 224,068 | 248,294 | 248,294 | 262,765 | 263,324 | 257,470 | 164,767 | ||||||||||||||||||||||||||||||||||||
| Restructured, accruing loans |
14,120 | 22,371 | 22,371 | 11,002 | 9,030 | 5,168 | 30,553 | 30,553 | 26,718 | 18,877 | 1,063 | 7,344 | ||||||||||||||||||||||||||||||||||||
| Other real estate owned |
33,863 | 31,069 | 31,069 | 52,044 | 57,023 | 62,565 | 57,137 | 57,137 | 57,945 | 50,640 | 38,984 | 24,368 | ||||||||||||||||||||||||||||||||||||
| Total non-performing assets |
239,777 | 269,466 | 269,466 | 283,548 | 266,022 | 291,801 | 335,984 | 335,984 | 347,428 | 332,841 | 297,517 | 196,479 | ||||||||||||||||||||||||||||||||||||
| Loans past due 30-89 days and still accruing |
28,927 | 23,646 | 23,646 | 41,590 | 32,012 | 28,018 | 37,912 | 37,912 | 44,346 | 38,128 | 54,311 | 116,206 | ||||||||||||||||||||||||||||||||||||
| Allowance for credit losses: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for loan losses |
$ | 142,503 | $ | 142,572 | $ | 142,572 | $ | 144,569 | $ | 145,027 | $ | 144,824 | $ | 144,808 | $ | 144,808 | $ | 134,269 | $ | 127,528 | $ | 116,001 | $ | 93,869 | ||||||||||||||||||||||||
| Reserve for unfunded commitments |
2,500 | 2,500 | 2,500 | 450 | 450 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
| Total allowance for credit losses |
145,003 | 145,072 | 145,072 | 145,019 | 145,477 | 144,824 | 144,808 | 144,808 | 134,269 | 127,528 | 116,001 | 93,869 | ||||||||||||||||||||||||||||||||||||
| Loan loss provision |
19,492 | 147,349 | 73,897 | 33,576 | 21,526 | 18,350 | 215,672 | 93,000 | 38,000 | 36,262 | 48,410 | 70,254 | ||||||||||||||||||||||||||||||||||||
| Net charge-offs by category: |
||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial |
3,128 | 30,602 | 10,198 | 13,262 | 2,679 | 4,463 | 55,004 | 23,320 | 12,585 | 7,006 | 12,093 | 13,026 | ||||||||||||||||||||||||||||||||||||
| Agricultural |
9 | 1,301 | 125 | 489 | 546 | 141 | 180 | 180 | — | — | — | 38 | ||||||||||||||||||||||||||||||||||||
| Commercial real estate: |
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| Office, retail, and industrial |
1,183 | 9,710 | 2,888 | 2,825 | 2,353 | 1,644 | 7,856 | 3,265 | 3,496 | 217 | 878 | 732 | ||||||||||||||||||||||||||||||||||||
| Multi-family |
549 | 2,425 | 1,206 | 222 | 485 | 512 | 3,483 | 2,325 | 29 | 1,086 | 43 | 1,796 | ||||||||||||||||||||||||||||||||||||
| Residential construction |
5,418 | 54,841 | 35,935 | 4,460 | 9,994 | 4,452 | 62,642 | 38,315 | 5,181 | 8,427 | 10,719 | 15,780 | ||||||||||||||||||||||||||||||||||||
| Commercial construction |
261 | 8,356 | 7,743 | 228 | 115 | 270 | 3,220 | 2,714 | (228 | ) | 734 | — | — | |||||||||||||||||||||||||||||||||||
| Other commercial real estate |
5,358 | 28,375 | 12,202 | 10,217 | 1,507 | 4,449 | 18,297 | 9,137 | 6,628 | 2,463 | 69 | 1,248 | ||||||||||||||||||||||||||||||||||||
| 1-4 family mortgages |
246 | 982 | 238 | 363 | 261 | 120 | 930 | 168 | 216 | 326 | 220 | 576 | ||||||||||||||||||||||||||||||||||||
| Consumer |
2,317 | 8,918 | 2,374 | 1,979 | 2,282 | 2,283 | 13,121 | 3,037 | 3,352 | 4,476 | 2,256 | 4,989 | ||||||||||||||||||||||||||||||||||||
| Net charge-offs, excluding covered assets |
18,469 | 145,510 | 72,909 | 34,045 | 20,222 | 18,334 | 164,733 | 82,461 | 31,259 | 24,735 | 26,278 | 38,185 | ||||||||||||||||||||||||||||||||||||
| Charge-offs on covered assets |
1,092 | 1,575 | 935 | (11 | ) | 651 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
| Total net charge-offs |
19,561 | 147,085 | 73,844 | 34,034 | 20,873 | 18,334 | 164,733 | 82,461 | 31,259 | 24,735 | 26,278 | 38,185 | ||||||||||||||||||||||||||||||||||||
| Asset Quality ratios: |
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| Non-accrual loans / loans |
3.66 | % | 4.15 | % | 4.15 | % | 4.09 | % | 3.72 | % | 4.16 | % | 4.69 | % | 4.69 | % | 4.84 | % | 4.44 | % | 3.41 | % | 2.38 | % | ||||||||||||||||||||||||
| Non-performing loans / loans |
3.76 | % | 4.24 | % | 4.24 | % | 4.27 | % | 3.84 | % | 4.31 | % | 4.77 | % | 4.77 | % | 4.95 | % | 4.93 | % | 4.78 | % | 3.07 | % | ||||||||||||||||||||||||
| Non-performing assets / loans plus OREO |
4.67 | % | 5.25 | % | 5.25 | % | 5.44 | % | 5.05 | % | 5.55 | % | 6.39 | % | 6.39 | % | 6.48 | % | 6.17 | % | 5.48 | % | 3.65 | % | ||||||||||||||||||||||||
| Non-performing assets / tangible common equity plus allowance for credit losses |
30.52 | % | 34.87 | % | 34.87 | % | 34.60 | % | 32.18 | % | 35.80 | % | 54.91 | % | 54.91 | % | 54.01 | % | 61.19 | % | 54.79 | % | 37.41 | % | ||||||||||||||||||||||||
| Non-accrual loans / total assets |
2.32 | % | 2.60 | % | 2.60 | % | 2.52 | % | 2.48 | % | 2.85 | % | 3.17 | % | 3.17 | % | 3.34 | % | 3.05 | % | 2.22 | % | 1.50 | % | ||||||||||||||||||||||||
| Loan loss ratios: |
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| Allowance for credit losses / loans |
2.85 | % | 2.84 | % | 2.84 | % | 2.81 | % | 2.79 | % | 2.79 | % | 2.78 | % | 2.78 | % | 2.53 | % | 2.39 | % | 2.15 | % | 1.75 | % | ||||||||||||||||||||||||
| Allowance for credit losses / non-accrual loans |
76.38 | % | 68.50 | % | 68.50 | % | 68.61 | % | 75.11 | % | 67.03 | % | 59.30 | % | 59.30 | % | 52.28 | % | 53.75 | % | 63.20 | % | 73.47 | % | ||||||||||||||||||||||||
| Allowance for credit losses / non-performing loans |
75.60 | % | 67.15 | % | 67.15 | % | 65.77 | % | 72.75 | % | 64.63 | % | 58.32 | % | 58.32 | % | 51.10 | % | 48.43 | % | 45.05 | % | 56.97 | % | ||||||||||||||||||||||||
| Net charge-offs to average net loans |
1.48 | % | 2.80 | % | 5.61 | % | 2.59 | % | 1.56 | % | 1.43 | % | 3.08 | % | 6.17 | % | 2.32 | % | 1.85 | % | 1.98 | % | 0.74 | % | ||||||||||||||||||||||||
Footnotes:
| (1) | Tax equivalent basis reflects federal and state tax benefits. |
| (2) | Annualized based on the number of days outstanding for each period presented. |