Guaranty bancorp (GBNK)
Income statement / Quarterly
Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Interest income:
Loans, including costs and fees

33,825

33,549

32,115

31,404

30,902

28,976

27,392

27,043

22,295

19,057

18,854

18,439

17,829

17,114

16,806

16,311

16,336

15,438

14,734

14,762

14,487

14,104

14,082

14,303

14,030

14,511

14,482

14,552

14,900

14,999

15,534

19,012

19,449

Investment securities:
Taxable

2,652

2,555

2,556

2,372

2,221

2,356

2,315

2,171

1,741

1,753

1,960

2,060

2,064

2,078

2,123

2,183

2,287

2,376

2,332

2,437

2,408

2,322

2,265

2,127

1,860

2,366

2,393

2,441

2,853

2,918

3,065

1,966

1,615

Tax-exempt

1,206

1,230

1,223

1,220

1,233

1,243

1,237

1,224

971

757

731

719

719

712

702

701

691

671

645

692

719

786

793

691

632

618

617

582

498

497

489

682

704

Dividends

406

391

423

279

275

347

389

234

237

281

311

235

249

253

222

185

214

239

169

169

169

170

156

156

164

153

158

158

166

163

166

185

182

Federal funds sold and other

26

38

19

65

57

11

8

128

98

3

4

1

2

2

1

4

1

2

1

10

6

67

34

99

105

58

42

71

86

86

89

77

103

Total interest income

38,115

37,763

36,336

35,340

34,688

32,933

31,341

30,800

25,342

21,851

21,860

21,454

20,863

20,159

19,854

19,384

19,529

18,726

17,881

18,070

17,789

17,449

17,330

17,376

16,791

17,706

17,692

17,804

18,503

18,663

19,343

21,922

22,053

Interest expense:
Deposits

3,186

2,777

2,271

2,082

1,939

1,786

1,537

1,560

1,228

1,064

1,007

923

866

750

668

667

647

570

580

610

630

615

635

693

697

711

777

878

1,353

1,886

2,629

3,688

3,994

Securities sold under agreement to repurchase

23

27

21

23

16

15

17

21

13

8

10

14

11

9

11

13

9

10

8

10

10

11

18

22

21

12

12

14

19

17

24

26

33

Federal funds purchased

33

23

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings

1,146

1,125

1,062

569

531

777

771

557

636

733

623

453

375

258

199

823

862

882

836

857

883

849

818

836

837

827

827

836

1,299

1,303

1,289

1,329

1,314

Subordinated debentures

937

933

889

872

868

856

844

840

715

225

225

208

205

202

199

201

202

199

198

202

204

235

481

608

725

773

776

751

720

710

691

683

579

Total interest expense

5,325

4,885

4,243

3,546

3,354

3,434

3,169

2,978

2,592

2,030

1,865

1,598

1,457

1,219

1,077

1,704

1,720

1,661

1,622

1,679

1,727

1,710

1,952

2,159

2,280

2,323

2,392

2,479

3,391

3,916

4,633

5,726

5,920

Net interest income

32,790

32,878

32,093

31,794

31,334

29,499

28,172

27,822

22,750

19,821

19,995

19,856

19,406

18,940

18,777

17,680

17,809

17,065

16,259

16,391

16,062

15,739

15,378

15,217

14,511

15,383

15,300

15,325

15,112

14,747

14,710

16,196

16,133

Provision for loan losses

206

530

188

284

497

206

5

90

27

10

16

-8

14

113

-23

-1

-3

24

-6

-

142

-

-

-3,500

0

500

1,000

1,000

1,000

1,000

2,000

2,500

8,400

Net interest income, after provision for loan losses

32,584

32,348

31,905

31,510

30,837

29,293

28,167

27,732

22,723

19,811

19,979

19,864

19,392

18,827

18,800

17,681

17,812

17,041

16,265

16,237

15,920

15,739

15,378

18,717

14,511

14,883

14,300

14,325

14,112

13,747

12,710

13,696

7,733

Noninterest income:
Deposit service and other fees

3,571

3,646

3,321

3,546

3,580

3,545

3,280

3,405

2,581

2,292

2,169

2,259

2,309

2,338

2,035

2,358

2,290

2,352

2,066

2,222

2,302

2,318

1,983

889

2,616

2,382

2,271

1,117

2,393

2,386

2,314

2,343

2,254

Investment management and trust

2,750

2,466

2,298

1,523

1,478

1,483

1,521

1,563

1,333

1,276

1,280

1,225

1,292

1,338

1,334

1,231

1,279

962

908

831

736

700

637

-

-

-

-

-

-

-

-

-

-

Increase in cash surrender value of life insurance

670

661

670

675

674

615

595

607

490

460

448

442

447

461

408

418

291

293

293

304

305

272

137

-

-

-

-

-

-

-

-

-

-

Gain (loss) on sale of securities

-

16

-

-

-86

-

-

49

-66

-101

45

-

-

-

-

0

3

0

25

-

20

54

-

817

746

342

622

283

3,018

-312

714

82

1

Gain on sale of SBA loans

430

255

231

285

143

447

381

401

208

110

154

143

232

169

280

447

186

28

137

95

207

287

136

-

203

-

-

-

-

-

-

-

1,196

Other

851

311

450

461

341

252

625

207

159

105

82

61

119

98

58

408

289

202

229

107

94

80

57

-267

250

187

206

-412

118

262

252

128

274

Total noninterest income

8,272

7,355

6,970

6,570

6,130

6,342

6,402

6,232

4,705

4,142

4,178

4,262

4,399

4,404

4,115

4,862

4,338

3,837

3,658

3,474

3,664

3,711

2,950

3,766

3,815

2,911

3,099

2,800

5,529

2,336

3,280

2,553

3,725

Noninterest expense:
Salaries and employee benefits

12,617

12,871

12,903

11,853

11,736

11,247

11,926

12,654

10,984

8,520

8,788

8,643

8,318

7,999

8,604

8,434

8,135

8,122

8,075

7,685

7,242

7,213

7,441

6,832

6,466

6,614

6,857

6,716

6,408

6,320

6,615

6,551

6,472

Occupancy expense

1,667

1,681

1,738

1,724

1,714

1,674

1,552

1,834

1,417

1,261

1,375

1,498

1,487

1,630

1,697

1,544

1,583

1,633

1,548

1,507

1,572

1,598

1,612

1,550

1,712

1,972

2,019

1,967

1,871

1,792

1,883

1,890

1,836

Furniture and equipment

1,009

1,031

1,060

1,004

974

975

945

789

750

713

818

801

740

736

730

698

693

673

695

728

709

745

761

760

779

783

821

846

855

913

894

850

967

Amortization of intangible assets

924

952

912

776

672

648

649

689

389

239

240

495

495

496

495

654

670

591

591

702

703

706

707

812

803

761

762

1,017

1,018

1,028

1,028

1,285

1,300

Other real estate owned, net

19

2

39

0

-20

126

68

4

20

5

2

16

-31

54

41

142

147

22

56

-1,037

-200

-257

334

3,209

348

461

352

240

90

466

763

7,836

3,115

Insurance and assessments

694

670

697

671

642

647

706

496

608

597

613

603

604

626

565

576

594

605

580

641

629

641

608

677

771

881

808

845

1,017

966

1,225

1,596

1,825

Professional fees

905

1,040

1,091

974

929

1,252

974

914

962

906

857

700

838

853

829

927

890

811

892

968

886

853

911

1,543

1,062

856

628

690

1,016

914

908

677

739

Impairment of long-lived assets

-

-

-

170

0

34

190

-

-

-

-

-

-

122

-

-

-

110

-

-

-

-

-

-

-

2,750

-

-

-

-

-

-

-

Prepayment penalty on debt extinguishment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,258

0

0

629

-

-

-

-

-

2,672

-

-

-

-

Other general and administrative

3,775

4,424

3,506

6,784

5,160

3,900

3,519

5,672

3,494

2,893

3,099

2,491

2,415

2,440

2,309

2,524

2,447

2,348

2,201

2,487

2,395

2,380

2,189

2,539

2,253

2,438

2,235

2,528

2,541

2,275

2,160

2,027

2,165

Total noninterest expense

21,610

22,671

21,946

23,956

21,807

20,503

20,529

23,237

18,624

15,134

15,792

15,247

14,866

14,956

15,270

21,034

15,159

14,915

14,638

13,681

13,936

13,879

15,192

17,922

14,194

17,516

14,482

14,849

17,488

14,674

15,476

22,712

18,419

Income before income taxes

19,246

17,032

16,929

14,124

15,160

15,132

14,040

10,727

8,804

8,819

8,365

8,879

8,925

8,275

7,645

1,509

6,991

5,963

5,285

6,030

5,648

5,571

3,136

4,561

4,132

278

2,917

2,276

2,153

1,409

514

-6,463

-6,961

Income tax expense

4,302

3,769

3,372

5,519

5,106

5,007

4,200

3,306

3,039

3,133

2,510

2,988

2,923

2,798

2,561

294

2,320

1,879

1,743

1,942

1,797

1,753

864

-

1,302

-5,914

-

-

-

-

-

-2,456

-2,607

Net income

14,944

13,263

13,557

8,605

10,054

10,125

9,840

7,421

5,765

5,686

5,855

5,891

6,002

5,477

5,084

1,215

4,671

4,084

3,542

4,088

3,851

3,818

2,272

3,120

2,830

6,192

2,917

2,276

2,153

1,409

514

-4,007

-4,354

Preferred stock dividends

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,390

Net income (loss) attributable to common stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,276

-14,649

-109

-972

-5,428

-5,744

Change in net unrealized gains (losses)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,406

-334

582

-

3,338

4,120

-612

-

-

Less: Reclassification adjustments for net losses (gains) included in net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-462

-212

-386

-

-1,871

-193

443

-

-

Other comprehensive income (loss)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,944

-546

196

-

1,467

4,313

-1,055

-

-

Total comprehensive income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,774

5,646

3,113

-

3,620

5,722

-541

-

-

Earnings per common share-basic:

0.52

0.46

0.47

0.31

0.36

0.36

0.35

0.26

0.25

0.27

0.28

0.29

0.28

0.26

0.24

0.06

0.22

0.19

0.17

0.20

0.18

0.18

0.11

0.25

0.14

0.30

0.03

-0.74

-0.28

0.00

-0.02

-0.11

-0.11

Earnings per common share-diluted:

0.51

0.46

0.47

0.29

0.36

0.36

0.35

0.26

0.25

0.27

0.27

0.28

0.28

0.26

0.24

0.06

0.22

0.19

0.17

0.20

0.18

0.18

0.11

0.25

0.14

0.30

0.03

-0.74

-0.28

0.00

-0.02

-0.11

-0.11

Dividends declared per common share:

0.16

0.16

0.16

0.11

0.13

0.13

0.13

0.10

0.12

0.12

0.12

0.10

0.10

0.10

0.10

0.05

0.05

0.05

0.05

-

0.03

0.03

-

-

-

-

-

-

-

-

-

-

-

Weighted average common shares outstanding-basic:

28,868

28,863

28,822

28,525

27,920

27,913

27,867

27,829

22,811

21,242

21,184

21,078

21,076

21,070

21,037

20,968

20,966

20,959

20,936

20,890

20,873

20,860

20,844

-62,316

20,787

20,782

103,892

-103,569

51,828

51,919

51,775

51,698

51,660

Weighted average common shares outstanding-diluted:

29,068

29,048

29,036

29,068

28,120

28,095

28,090

28,478

22,984

21,378

21,398

21,498

21,224

21,200

21,165

21,168

21,089

21,059

21,028

20,964

20,981

20,941

20,917

-62,305

20,873

20,847

104,097

-103,569

51,828

51,919

51,775

51,698

51,660