Meridian Bancorp, Inc. EBSB Income Statement

Meridian bancorp, inc. (EBSB)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13
Interest and dividend income:
Interest and fees on loans
258,999	256,603	251,226	240,954	230,818	219,162	208,882	199,630	188,921	179,425	170,453	161,300	152,933	145,541	136,924	129,633	123,351	118,586	114,681	111,145	107,711	103,814	100,100	96,372	92,990	89,349	0	0	0
Interest on debt securities:
Taxable
392	415	434	448	466	482	409	352	309	302	419	564	719	866	1,004	1,167	1,363	1,608	1,816	2,038	2,234	2,468	2,775	3,131	3,508	3,919	0	0	0
Tax-exempt
51	51	51	52	54	56	57	44	37	32	37	67	91	114	133	144	153	162	168	172	175	178	184	192	201	209	0	0	0
Dividends on equity securities
482	493	505	469	461	504	606	780	937	1,066	1,189	1,279	1,406	1,529	1,605	1,648	1,651	1,638	1,594	1,543	1,499	1,425	1,369	1,360	1,347	1,383	0	0	0
Interest on certificates of deposit
48	74	155	241	354	530	633	750	805	814	744	598	537	495	548	636	658	624	0	0	0	-	-	-	-	-	-	-	-
Other interest and dividend income
7,676	8,467	8,613	8,409	7,993	6,938	6,246	5,133	4,342	3,465	2,638	2,122	1,574	1,147	868	772	772	724	826	877	827	747	579	407	370	344	0	0	0
Total interest and dividend income
267,648	266,103	260,984	250,573	240,146	227,672	216,833	206,689	195,351	185,104	175,480	165,930	157,260	149,692	141,082	134,000	127,948	123,342	119,588	116,115	112,629	108,679	105,007	101,462	98,416	95,204	0	0	0
Interest expense:
Interest on deposits
76,596	78,978	77,072	71,178	63,276	54,634	47,644	41,888	37,072	33,982	30,844	28,589	26,315	24,124	21,962	20,332	19,030	18,479	18,395	18,265	18,313	18,041	17,862	17,776	17,510	17,053	0	0	0
Interest on short-term borrowings
0	-	0	0	0	-	-	-	-	-	-	0	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Interest on borrowings
15,900	14,187	12,159	10,493	9,391	8,603	7,602	6,527	5,592	4,930	4,356	3,813	3,422	3,013	2,634	2,271	2,030	1,967	2,036	2,186	2,359	2,472	2,557	2,721	2,861	3,082	0	0	0
Total interest expense
92,209	93,165	89,527	81,966	72,962	63,237	55,242	48,411	42,664	38,912	35,198	32,400	29,731	27,137	24,607	22,614	21,071	20,451	20,431	20,451	20,672	20,513	20,419	20,497	20,371	20,135	0	0	0
Net interest income
175,439	172,938	171,457	168,607	167,184	164,435	161,591	158,278	152,687	146,192	140,282	133,530	127,529	122,555	116,475	111,386	106,877	102,891	99,157	95,664	91,957	88,166	84,588	80,965	78,045	75,069	0	0	0
Provision (reversal) for loan losses
-2,679	-2,561	1,506	4,710	6,502	7,848	3,570	5,802	5,429	4,859	6,878	5,278	7,733	7,180	6,420	7,974	7,673	6,667	7,952	6,195	3,240	3,313	3,324	2,820	5,343	6,470	0	0	0
Net interest income, after provision for loan losses
178,118	175,499	169,951	163,897	160,682	156,587	158,021	152,476	147,258	141,333	133,404	128,252	119,796	115,375	110,055	103,412	99,204	96,224	91,205	89,469	88,717	84,853	81,264	78,145	72,702	68,599	0	0	0
Non-interest (loss) income:
Customer service fees
9,220	9,220	9,184	8,998	8,992	9,065	8,864	8,703	8,635	8,517	8,582	8,673	8,596	8,491	8,378	8,255	8,121	7,931	7,762	7,593	7,450	7,492	7,449	7,426	7,342	7,129	0	0	0
Loan fees
1,146	549	607	472	261	479	526	405	2,197	1,970	2,217	2,330	674	918	786	811	1,063	917	838	668	544	591	626	663	665	508	0	0	0
Mortgage banking gains, net
680	309	265	240	202	295	379	481	500	457	473	571	593	573	567	331	495	535	542	523	522	532	533	412	548	583	0	0	0
Gain on sales of securities available for sale, net
-	-	-	-	-	-	-	-	-	9,305	5,874	5,275	4,535	3,020	336	115	1,471	2,432	4,336	5,637	5,718	6,258	6,651	8,300	8,923	9,636	0	0	0
(Loss) gain on marketable equity securities, net
-3,654	2,016	-1,612	-368	-203	-2,066	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from bank-owned life insurance
1,143	1,127	1,127	1,121	1,118	1,109	1,112	1,127	1,142	1,158	1,168	1,170	1,174	1,188	1,189	1,233	1,231	1,225	1,227	1,181	1,180	1,165	1,177	1,182	1,185	1,195	0	0	0
Gain on life insurance distribution
-	-	0	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income
67	40	34	0	0	-	-	0	-	-	-	-	-	-	-	-	9	-	9	2	8	18	26	0	0	-	-	0	-
Total non-interest (loss) income
8,654	13,313	9,766	10,594	10,498	9,003	17,577	19,153	21,325	23,064	19,969	18,017	15,570	14,190	11,250	10,746	12,382	13,040	14,714	15,604	15,422	16,056	16,809	18,356	19,039	19,416	0	0	0
Non-interest expenses:
Salaries and employee benefits
61,653	61,371	60,297	59,582	59,104	58,866	57,979	56,566	54,880	53,161	51,567	50,763	49,990	48,828	48,279	47,345	46,083	44,737	43,459	42,473	41,773	41,407	41,101	40,885	40,344	39,618	0	0	0
Occupancy and equipment
14,922	14,594	14,117	13,441	12,816	12,759	12,343	12,038	12,049	11,533	11,616	11,517	11,348	10,809	10,410	10,239	9,740	9,876	9,623	9,469	9,317	9,258	9,304	9,155	9,025	8,798	0	0	0
Data processing
8,246	8,079	7,837	7,558	7,202	6,915	6,614	6,395	6,216	5,912	5,712	5,477	5,257	5,135	5,121	5,203	5,198	5,204	5,132	4,958	4,618	4,516	4,386	4,274	4,444	4,274	0	0	0
Marketing and advertising
4,699	4,631	4,732	4,545	4,252	4,057	3,936	3,819	3,766	3,653	3,495	3,612	3,358	3,217	3,404	3,338	3,534	3,715	3,192	3,195	2,988	2,901	3,171	2,941	3,065	2,949	0	0	0
Professional services
3,319	3,182	3,059	3,062	3,278	3,383	3,452	3,393	3,499	3,669	3,834	3,873	3,487	2,965	2,648	2,629	2,573	2,633	2,562	2,506	2,501	2,469	2,605	2,470	2,348	2,308	0	0	0
Foreclosed real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	481	497	384	479	0	0	0
Deposit insurance
1,863	2,206	2,527	3,368	3,221	3,006	3,254	3,063	3,094	2,988	2,645	2,557	2,276	2,037	2,083	2,033	1,980	1,989	1,996	1,989	2,041	2,131	2,128	2,138	2,129	2,053	0	0	0
Merger and acquisition
-	-	-	-	-	114	385	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other general and administrative
5,845	5,960	5,828	5,975	5,992	5,698	5,554	5,420	5,144	4,994	4,734	4,425	4,425	4,503	5,083	5,070	4,759	4,537	4,603	4,738	4,840	4,752	4,274	3,970	3,905	4,036	0	0	0
Total non-interest expenses
100,547	100,023	98,397	97,557	95,905	94,798	95,030	92,837	90,777	87,965	83,874	82,224	80,141	77,494	76,903	75,828	73,853	72,691	70,529	69,147	68,081	67,434	67,450	66,330	65,644	64,515	0	0	0
Income before income taxes
86,225	88,789	81,320	76,934	75,275	70,792	80,568	78,792	77,806	76,432	69,499	64,045	55,225	52,071	44,402	38,330	37,733	36,573	35,390	35,926	36,058	33,475	30,623	30,171	26,097	23,500	0	0	0
Provision for income taxes
21,323	21,793	19,034	16,980	16,427	15,021	28,134	30,382	32,111	33,487	24,266	22,648	19,268	17,881	14,646	12,329	12,054	11,966	11,621	11,884	12,097	11,148	10,318	10,560	8,965	8,071	0	0	0
Net income
64,902	66,996	62,286	59,954	58,848	55,771	52,434	48,410	45,695	42,945	45,233	41,397	35,957	34,190	29,756	26,001	25,679	24,607	23,769	24,042	23,961	22,327	20,305	19,611	17,132	15,429	0	0	0
Earnings per share:
Basic
0.26	0.33	0.39	0.30	0.29	0.24	0.34	0.27	0.23	0.18	0.26	0.22	0.18	0.22	0.19	0.12	0.14	0.13	0.11	0.11	0.12	0.12	0.12	0.10	0.09	-0.09	0.10	0.14	0.14
Diluted
0.25	0.34	0.38	0.29	0.29	0.23	0.33	0.27	0.23	0.17	0.25	0.22	0.18	0.22	0.18	0.11	0.14	0.12	0.11	0.11	0.12	0.12	0.11	0.10	0.09	-0.09	0.10	0.14	0.14
Weighted average shares outstanding:
Basic
50,634	51,025	50,923	51,051	51,120	51,530	51,492	51,437	51,531	51,431	51,229	51,003	50,949	50,936	50,982	51,026	51,569	51,983	51,940	52,074	51,862	51,779	52,043	53,047	53,011	115,653	52,965	21,649	21,639
Diluted
50,920	51,537	51,454	51,511	51,467	51,955	52,732	52,867	53,083	53,032	52,672	52,422	52,526	52,098	52,093	52,137	52,663	53,093	53,023	53,166	53,003	52,919	53,156	54,125	54,069	117,558	53,866	21,962	21,952