First Midwest Bancorp, Inc. FMBI Income Statement

First midwest bancorp, inc. (FMBI)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Interest Income
Loans
617,632	523,229	463,331	337,998	300,303	265,501	239,224	248,752	252,865	259,318	261,221	302,931
Covered loans
-	-	-	-	-	-	13,804	15,873	28,904	17,285	1,419	-
Investment securities – taxable
66,292	49,409	35,569	28,724	18,082	14,516	12,249	12,670	14,115	22,116	42,392	62,185
Investment securities – tax-exempt
6,501	5,060	6,296	8,737	13,861	16,716	18,644	20,253	22,544	27,685	35,094	42,263
Other short-term investments
8,314	4,794	4,520	2,873	3,738	3,131	3,326	3,021	3,083	2,463	1,625	1,828
Total interest income
698,739	582,492	509,716	378,332	335,984	299,864	287,247	300,569	321,511	328,867	341,751	409,207
Interest Expense
Deposits
77,598	37,774	16,184	9,863	9,527	10,377	11,901	18,052	27,256	37,127	64,177	110,622
Borrowed funds
18,228	15,388	9,100	6,313	2,314	573	1,607	2,009	2,743	3,267	12,569	37,192
Senior and subordinated debt
14,431	12,708	12,428	12,465	12,545	12,062	13,607	14,840	9,892	9,124	13,473	14,796
Total interest expense
110,257	65,870	37,712	28,641	24,386	23,012	27,115	34,901	39,891	49,518	90,219	162,610
Net interest income
588,482	516,622	472,004	349,691	311,598	276,852	260,132	265,668	281,620	279,349	251,532	246,597
Provision for loan losses
44,027	47,854	31,290	30,983	21,152	19,168	16,257	158,052	80,582	147,349	215,672	70,254
Net interest income after provision for loan losses
544,455	468,768	440,714	318,708	290,446	257,684	243,875	107,616	201,038	132,000	35,860	176,343
Noninterest Income
Wealth management fees
48,337	43,512	41,321	33,071	29,162	26,474	24,185	21,791	20,324	18,807	14,059	15,130
Service charges on deposit accounts
49,424	48,715	48,368	40,665	39,979	36,910	36,526	36,699	37,879	35,884	38,754	44,987
Capital market products income
13,900	7,700	8,200	10,024	4,806	2,231	-	-	-	-	-	-
Card-based fees
18,133	17,024	28,992	29,104	26,984	24,340	21,649	20,852	19,593	17,577	15,826	16,143
Mortgage banking income
10,105	7,094	8,131	10,162	5,741	4,011	5,306	2,689	454	-	-	-
Merchant servicing fees
1,423	1,465	10,340	12,533	11,739	11,260	10,953	10,806	10,911	-	-	-
Other service charges, commissions, and fees
9,940	9,425	9,843	9,542	8,848	5,855	7,663	4,486	5,021	14,494	16,529	18,846
Net securities losses
0	0	-1,876	1,420	2,373	8,097	34,164	-921	2,410	12,216	2,110	-35,611
BOLI income
-	-	-	-	4,185	2,873	-11,844	1,307	2,231	-	-	-2,369
Total fee-based revenues
-	-	-	-	-	-	-	-	-	-	85,168	-
Other income
11,586	9,636	9,859	7,282	2,764	4,567	4,452	7,086	3,114	9,573	7,395	-3,119
Net gain on sale-leaseback transaction
-	-	-	5,509	0	0	-	-	-	-	-	-
Gain on termination of FHLB forward commitments
-	-	-	-	-	-	7,800	0	0	-	-	-
Gains on FDIC-assisted transactions
-	-	-	-	-	-	-	-	-	-	13,071	-
Loss on early extinguishment of debt
-	-	-	-	-	-	-	-	-	-	15,258	-
Gain on bulk loan sales
-	-	-	-	-	-	-	5,153	0	-	-	-
Total noninterest income
162,879	144,592	163,149	159,312	136,581	126,618	140,883	109,948	101,937	108,551	123,002	54,007
Noninterest Expense
Salaries and wages
197,640	181,164	182,507	151,341	133,739	116,578	112,631	105,231	101,703	94,361	82,640	77,074
Retirement and other employee benefits
42,879	43,104	41,886	33,309	31,852	27,245	26,119	25,524	27,071	20,017	23,908	22,836
Net occupancy and equipment expense
56,334	53,434	49,751	41,154	38,720	35,181	31,832	32,699	32,953	32,218	31,724	33,334
Professional services
39,941	32,681	33,689	25,122	22,720	23,436	21,922	29,614	26,356	22,903	15,796	10,898
Technology and related costs
19,758	19,220	18,068	14,765	14,581	12,875	11,335	11,846	10,905	11,070	8,987	7,429
Advertising and promotions
11,561	9,248	8,694	7,787	7,606	8,159	7,754	5,073	6,198	6,642	7,313	6,491
Amortization of other intangible assets
10,481	7,444	7,865	4,682	-	-	-	-	-	-	-	-
Federal Deposit Insurance Corporation Premium ("FDIC") Expense
8,353	10,584	8,987	6,268	6,017	5,824	6,438	6,926	7,990	10,880	13,673	1,065
Net OREO expense
2,436	1,162	4,683	3,024	5,281	7,075	8,547	10,521	16,293	50,034	23,459	3,409
Merchant card expense
0	0	8,377	10,782	9,886	9,195	8,780	8,584	8,643	7,882	6,453	6,985
Cardholder expense
0	0	7,323	5,812	5,243	4,251	4,021	-	-	-	-	-
Other expenses
28,995	28,236	23,956	20,152	21,601	20,135	17,358	24,777	23,792	22,772	20,835	24,784
Acquisition and integration related expenses
21,900	9,600	20,100	14,352	1,389	13,872	0	0	-	-	-	-
Delivering Excellence implementation costs
1,157	20,413	0	0	-	-	-	-	-	-	-	-
Lease cancellation fee
-	-	-	950	0	0	-	-	-	-	-	-
Property valuation adjustments
-	-	-	-	8,581	0	0	-	-	-	-	-
Adjusted amortization of FDIC indemnification asset
-	-	-	-	-	-	-	6,705	0	-	-	-
Total noninterest expense
441,395	416,303	415,909	339,500	307,216	283,826	256,737	267,500	261,904	278,779	234,788	194,305
Income before income tax expense
265,939	197,057	187,954	138,520	119,811	100,476	128,021	-49,936	41,071	-38,228	-75,926	36,045
Income tax expense
66,201	39,187	89,567	46,171	37,747	31,170	48,715	-28,882	4,508	-28,544	-50,176	-13,291
Net income
199,738	157,870	98,387	92,349	82,064	69,306	79,306	-21,054	36,563	-9,684	-25,750	49,336
Per Common Share Data
Preferred dividends and accretion on preferred stock
-	-	-	-	-	-	-	-	10,776	10,299	10,265	712
Net income applicable to non-vested restricted shares
-	-	-	-	-	-	-	-	350	-266	464	-142
Net income applicable to common shares
-	-	-	-	-	-	-	-	25,437	-19,717	-35,551	48,482
Per Common Share Data
Basic earnings per common share (in dollars per share)
1.83	1.52	0.96	1.14	1.05	0.92	1.06	-0.28	0.35	-0.27	-0.71	1.00
Diluted earnings per common share (in dollars per share)
1.82	1.52	0.96	1.14	1.05	0.92	1.06	-0.28	0.35	-0.27	-0.71	1.00
Weighted-average common shares outstanding (in Shares)
108,156	102,850	101,423	79,797	77,059	74,484	73,984	73,665	73,289	72,422	50,034	48,462
Weighted-average diluted common shares outstanding (in Shares)
108,584	102,854	101,443	79,810	77,072	74,496	73,994	73,666	73,289	72,422	50,034	48,515