Beneficial mutual bancorp inc (BNCL)
Income statement / Quarterly
Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
INTEREST INCOME:
Interest and fees on loans

27,133

26,202

26,458

27,432

28,374

29,052

29,656

31,862

34,207

34,304

32,309

33,671

34,577

35,610

35,827

35,480

37,947

Interest on overnight investments

131

190

189

235

202

203

181

305

247

180

161

287

254

247

102

151

44

Interest on trading securities

-

-

-

-

-

-

-

-

-

-

-

0

0

0

26

14

23

Interest and dividends on investment securities:
Taxable

7,098

7,736

7,795

8,065

8,039

7,741

7,410

7,452

8,022

9,239

9,163

8,745

8,286

8,952

9,972

10,497

12,382

Tax-exempt

604

658

662

677

692

702

715

715

732

740

792

823

849

923

992

1,150

1,261

Total interest income

34,966

34,786

35,104

36,409

37,307

37,698

37,962

40,334

43,208

44,463

42,425

43,526

43,966

45,732

46,919

47,292

51,657

INTEREST EXPENSE:
Interest on deposits:
Interest bearing checking accounts

408

422

443

725

704

719

800

1,109

1,054

1,344

1,205

1,555

1,562

2,195

2,430

2,556

2,501

Money market and savings deposits

1,354

1,349

1,329

1,682

1,708

1,642

1,621

1,868

2,124

2,279

2,121

2,160

2,300

2,293

2,405

2,441

2,331

Time deposits

1,942

1,988

2,001

2,011

2,051

2,057

2,123

2,258

2,374

2,542

2,591

2,885

3,173

3,354

3,119

3,395

3,646

Total

3,704

3,759

3,773

4,418

4,463

4,418

4,544

5,235

5,552

6,165

5,917

6,600

7,035

7,842

7,954

8,392

8,478

Interest on borrowed funds

1,831

1,810

1,801

1,840

2,053

2,052

1,852

1,829

2,087

2,132

2,056

2,109

2,100

2,137

2,269

3,810

4,034

Total interest expense

5,535

5,569

5,574

6,258

6,516

6,470

6,396

7,064

7,639

8,297

7,973

8,709

9,135

9,979

10,223

12,202

12,512

Net interest income

29,431

29,217

29,530

30,151

30,791

31,228

31,566

33,270

35,569

36,166

34,452

34,817

34,831

35,753

36,696

35,090

39,145

Provision for loan losses

-1,550

250

1,500

1,500

1,500

5,000

5,000

6,000

7,000

7,500

7,500

8,500

9,000

10,000

10,000

51,050

6,200

Net interest income after provision for loan losses

30,981

28,967

28,030

28,651

29,291

26,228

26,566

27,270

28,569

28,666

26,952

26,317

25,831

25,753

26,696

-15,960

32,945

NON-INTEREST INCOME:
Insurance and advisory commission and fee income

1,761

1,609

2,081

1,607

1,778

1,690

2,095

1,670

2,069

1,489

2,161

1,618

1,898

1,667

2,537

1,944

1,762

Service charges and other income

3,330

4,503

3,201

4,093

3,378

4,322

3,768

3,574

3,339

4,119

3,572

4,870

3,930

3,442

3,625

3,387

4,424

Mortgage banking income

211

115

125

133

131

511

242

465

803

590

873

545

275

28

68

-

-

Net gain on sale of non-performing commercial loans HFS

1,583

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net gain on sale of investment securities

328

94

204

-557

297

804

833

1,107

659

675

441

36

197

233

186

370

-

Impairment charge on securities available-for-sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

88

-

Trading securities profits

-

-

-

-

-

-

-

-

-

-

-

0

0

0

81

123

86

Total non-interest income

7,213

6,321

5,611

5,276

5,584

7,327

6,938

6,816

6,870

6,873

7,047

7,069

6,300

5,370

6,497

5,736

6,272

NON-INTEREST EXPENSE:
Salaries and employee benefits

15,271

14,783

15,010

14,185

14,634

14,347

13,988

13,845

14,638

14,722

14,324

13,361

13,960

13,482

15,009

15,580

15,103

Occupancy expense

2,267

2,436

3,618

2,406

2,402

2,503

2,515

2,512

2,478

2,434

2,463

2,702

2,610

2,635

3,093

2,906

2,915

Depreciation, amortization and maintenance

2,202

2,117

2,477

2,180

2,215

2,398

2,233

2,141

2,346

2,273

2,159

2,127

2,165

2,143

2,248

2,443

2,240

Marketing expense

727

736

885

1,737

1,457

1,113

927

127

870

932

882

469

951

872

897

2,392

1,648

Intangible amortization expense

468

467

467

469

468

468

467

1,289

916

1,046

912

910

908

906

860

886

884

FDIC Insurance

723

805

783

803

888

947

951

1,054

1,058

1,075

1,034

1,017

1,055

1,621

1,639

1,361

1,382

Merger and restructuring charges

-

-

-

-

-

-159

-

-

-

2,737

-

0

-1

963

4,096

-

-

Professional fees

1,009

1,034

1,355

535

1,640

948

1,935

2,117

1,172

1,000

1,107

-

-

-

-

-

-

Classified loan and other real estate owned related expense

398

627

342

1,850

1,449

1,969

1,116

3,030

1,772

1,879

1,562

-

-

-

-

-

-

Other

5,983

6,205

6,297

5,773

5,637

5,741

5,583

4,770

5,027

4,758

5,168

277

6,575

6,475

6,361

7,783

7,307

Total non-interest expense

29,048

29,210

31,234

29,908

30,790

30,275

29,715

30,381

30,277

32,856

29,611

29,186

28,224

29,097

34,203

33,351

31,479

Income before income taxes

9,146

6,078

2,407

4,019

4,085

3,280

3,789

3,705

5,162

2,683

4,388

4,200

3,907

2,026

-1,010

-43,575

7,738

Income tax expense

2,622

1,502

-65

1,061

585

374

575

-110

1,067

359

443

-1,676

-172

47

-112

-21,845

2,142

NET INCOME

6,524

4,576

2,472

2,958

3,500

2,906

3,214

3,815

4,095

2,324

3,945

5,876

4,079

1,979

-898

-21,730

5,596

EARNINGS PER SHARE - Basic (in dollars per share)

0.09

0.06

-

-

0.05

0.04

-

-

0.05

0.03

-

-

0.05

0.03

-0.01

-0.28

0.07

EARNINGS PER SHARE - Diluted (in dollars per share)

0.09

0.06

-

-

0.05

0.04

-

-

0.05

0.03

-

-

0.05

0.03

-0.01

-0.28

0.07

NET EARNINGS PER SHARE - Basic and Diluted (in dollars per share)

-

-

0.03

-

-

-

0.04

-

-

-

0.05

-

-

-

-

-

-

Average common shares outstanding - Basic (in shares)

72,871

73,558

74,241

75,045

75,870

76,073

76,376

76,351

76,392

76,838

77,047

77,071

77,132

77,092

77,006

77,541

77,840

Average common shares outstanding - Diluted (in shares)

73,508

74,192

74,795

75,389

76,129

76,244

76,578

76,537

76,541

77,007

77,225

77,373

77,244

77,301

77,006

77,541

78,008