Meridian bancorp, inc. (EBSB)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12
Interest and dividend income:
Interest and fees on loans

256,603

219,162

179,425

145,541

118,586

103,814

89,349

76,050

Interest on debt securities:
Taxable

415

482

302

866

1,608

2,468

3,919

6,901

Tax-exempt

51

56

32

114

162

178

209

216

Dividends on equity securities

493

504

1,066

1,529

1,638

1,425

1,383

1,444

Interest on certificates of deposit

74

530

814

495

624

47

-

26

Other interest and dividend income

8,467

6,938

3,465

1,147

724

747

344

332

Total interest and dividend income

266,103

227,672

185,104

149,692

123,342

108,679

95,204

84,969

Interest expense:
Interest on deposits

78,978

54,634

33,982

24,124

18,479

18,041

17,053

15,739

Interest on short-term borrowings

-

-

-

-

5

-

-

-

Interest on borrowings

14,187

8,603

4,930

3,013

1,967

2,472

3,082

3,206

Total interest expense

93,165

63,237

38,912

27,137

20,451

20,513

20,135

18,945

Net interest income

172,938

164,435

146,192

122,555

102,891

88,166

75,069

66,024

Provision (reversal) for loan losses

-2,561

7,848

4,859

7,180

6,667

3,313

6,470

8,581

Net interest income, after provision for loan losses

175,499

156,587

141,333

115,375

96,224

84,853

68,599

57,443

Non-interest (loss) income:
Customer service fees

9,220

9,065

8,517

8,491

7,931

7,492

7,129

6,645

Loan fees

549

479

1,970

918

917

591

508

339

Mortgage banking gains, net

309

295

457

573

535

532

583

2,371

Gain on sales of securities available for sale, net

-

-

9,305

3,020

2,432

6,258

9,636

5,568

(Loss) gain on marketable equity securities, net

2,016

-2,066

-

-

-

-

-

-

Income from bank-owned life insurance

1,127

1,109

1,158

1,188

1,225

1,165

1,195

1,201

Gain on life insurance distribution

52

110

1,657

-

-

-

-

-

Equity income on investment in affiliate bank

-

-

-

-

-

-

-

310

Gain on sale of investment in affiliate bank

-

-

-

-

-

-

-

4,819

Other income

40

11

-

-

-

18

365

8

Total non-interest (loss) income

13,313

9,003

23,064

14,190

13,040

16,056

19,416

21,261

Non-interest expenses:
Salaries and employee benefits

61,371

58,866

53,161

48,828

44,737

41,407

39,618

36,386

Occupancy and equipment

14,594

12,759

11,533

10,809

9,876

9,258

8,798

7,932

Data processing

8,079

6,915

5,912

5,135

5,204

4,516

4,274

3,511

Marketing and advertising

4,631

4,057

3,653

3,217

3,715

2,901

2,949

2,537

Professional services

3,182

3,383

3,669

2,965

2,633

2,469

2,308

2,966

Foreclosed real estate

-

-

-

-

-

-

479

599

Deposit insurance

2,206

3,006

2,988

2,037

1,989

2,131

2,053

1,760

Merger and acquisition

-

114

2,055

-

-

-

-

-

Other general and administrative

5,960

5,698

4,994

4,503

4,537

4,752

4,036

4,257

Total non-interest expenses

100,023

94,798

87,965

77,494

72,691

67,434

64,515

59,948

Income before income taxes

88,789

70,792

76,432

52,071

36,573

33,475

23,500

18,756

Provision for income taxes

21,793

15,021

33,487

17,881

11,966

11,148

8,071

6,330

Net income

66,996

55,771

42,945

34,190

24,607

22,327

15,429

12,426

Earnings per share:
Basic

1.31

1.08

0.84

0.67

0.47

0.43

0.29

0.23

Diluted

1.30

1.06

0.82

0.65

0.46

0.42

0.29

0.23

Weighted average shares outstanding:
Basic

51,030

51,498

51,153

51,128

51,965

52,470

52,976

52,958

Diluted

51,492

52,659

52,663

52,248

53,071

53,567

53,834

53,518