Great Western Bancorp, Inc. GWB Income Statement

Great western bancorp, inc. (GWB)

Income statement / Quarterly

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
Interest income
Loans
113,356	119,431	126,780	126,392	123,432	122,331	117,095	116,522	109,993	107,680	106,276	101,593	99,481	99,932	94,590	93,749	88,192	87,197	86,480	85,240	82,394	84,344	84,477	80,797	77,933	81,403
Taxable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	5,878	-	5,826	5,787	5,987	5,923	5,984	5,379	5,687	6,173	6,598	6,623	6,969
Nontaxable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	199	-	61	12	12	15	10	13	13	19	33	14	14
Investment securities
11,329	11,498	10,934	11,430	9,957	9,189	7,644	7,471	7,013	7,043	12,670	6,803	6,538	300	23,849	396	222	213	250	489	258	250	217	351	199	201
Federal funds sold and other
558	608	1,057	377	497	541	494	424	227	231	194	163	219	346	248	157	94	75	53	155	160	284	55	99	117	184
Total interest income
125,243	131,537	138,771	138,199	133,886	132,061	125,233	124,417	117,233	114,954	113,063	108,559	106,238	106,655	101,002	100,189	94,307	93,484	92,721	91,878	88,204	90,578	90,941	87,878	84,886	88,771
Interest expense
Deposits
18,867	21,940	27,211	28,615	27,098	23,794	19,996	16,460	12,658	10,998	10,438	9,478	7,829	7,290	6,969	6,451	6,029	5,665	5,587	5,776	5,984	6,015	6,135	6,319	6,431	6,879
FHLB advances and other borrowings
-	-	-	-	-	-	-	-	-	2,164	-	-	-	115	4,278	124	132	139	133	134	150	146	158	153	143	146
FHLB advances and other borrowings
3,155	3,113	-	2,538	1,923	2,003	-	1,963	2,815	-	-	1,080	1,567	1,271	-	986	929	916	925	867	893	946	861	751	803	1,037
Related party notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	79	233	227	232	231	230	226	234
Subordinated debentures and subordinated notes payable
1,238	1,311	1,363	1,417	1,390	1,370	1,341	1,322	1,207	1,170	1,165	1,113	1,098	1,088	1,075	976	879	807	572	330	325	330	330	325	326	334
Total interest expense
23,260	26,364	32,061	32,570	30,411	27,167	23,243	19,745	16,680	14,332	13,391	11,671	10,494	9,764	9,491	8,537	7,969	7,527	7,296	7,340	7,579	7,669	7,715	7,778	7,929	8,630
Net interest income
101,983	105,173	106,710	105,629	103,475	104,894	101,990	104,672	100,553	100,622	99,672	96,888	95,744	96,891	91,511	91,652	86,338	85,957	85,425	84,538	80,625	82,909	83,226	80,100	76,957	80,141
Provision for loan and lease losses
71,795	8,103	1,982	26,077	7,673	5,215	5,014	3,515	4,900	4,557	4,685	5,796	4,009	7,049	5,063	5,372	2,631	3,889	1,633	4,410	9,679	3,319	2,749	1,500	-2,690	-875
Net interest income after provision for loan and lease losses
30,188	97,070	104,728	79,552	95,802	99,679	96,976	101,157	95,653	96,065	94,987	91,092	91,735	89,842	86,448	86,280	83,707	82,068	83,792	80,128	70,946	79,590	80,477	78,600	79,647	81,016
Noninterest income
Service charges and other fees
9,188	11,409	11,674	10,321	10,209	11,689	13,197	12,655	12,047	13,178	13,742	14,572	13,574	13,837	19,826	12,316	10,316	10,467	10,238	9,627	8,871	10,398	10,476	9,695	9,371	10,662
Casualty insurance commissions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	320	299	258
Wealth management fees
3,122	2,964	2,322	2,234	2,117	2,241	2,457	2,242	2,335	2,185	2,002	2,433	2,429	2,254	2,196	1,807	1,668	1,612	1,658	1,972	1,825	1,957	5,471	578	588	591
Mortgage banking income, net
1,145	1,612	1,482	1,055	991	1,320	1,664	1,352	1,166	1,660	1,798	1,828	1,640	2,662	3,118	1,669	1,204	1,270	1,667	1,903	1,580	1,544	1,654	1,322	947	1,616
Net loss on sale of securities
0	0	13	322	0	-513	0	15	-8	-1	31	0	44	0	356	134	24	-354	259	0	0	51	84	0	6	0
Reclassification adjustment for net gain (loss) realized in net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-
Trust department income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	942	1,000	905
Net increase in fair value of loans at fair value
35,541	-14,933	11,749	16,429	14,018	19,216	-14,534	-7,370	-14,838	-8,665	-2,074	6,060	-5,216	-64,001	-8,938	14,198	35,955	-14,901	28,828	-24,394	15,208	17,100	-1,602	13,886	8,730	-9,110
Net realized and unrealized loss on derivatives
-50,214	13,516	-13,191	-20,904	-11,032	-18,317	14,994	8,093	14,282	7,227	-1,580	-9,088	1,592	58,976	4,721	-21,925	-40,893	9,439	-34,731	18,946	-21,698	-24,605	-4,781	-17,797	-12,436	4,837
Other
1,135	1,165	974	1,309	1,920	1,084	1,476	1,952	3,758	1,090	821	1,522	1,426	1,930	1,234	898	725	1,111	1,130	1,951	1,150	1,455	923	1,368	1,635	1,067
Total noninterest (loss) income
-83	15,733	15,023	10,766	18,223	16,720	19,254	18,939	18,742	16,674	14,740	17,327	15,489	15,658	22,513	9,097	8,999	8,644	9,049	10,005	6,936	7,900	8,501	10,314	10,140	10,826
Noninterest expense
Salaries and employee benefits
37,312	35,905	33,099	33,899	34,537	34,770	33,690	35,122	33,672	32,868	31,263	32,868	32,370	31,634	30,638	28,352	24,769	25,296	25,273	26,612	24,673	24,088	23,929	24,126	23,029	24,021
Data processing and communication
6,123	5,773	6,601	6,234	5,964	5,278	6,554	7,177	9,190	6,884	8,362	7,370	6,879	5,677	9,619	5,625	4,950	5,246	5,338	4,657	4,708	4,828	5,443	4,354	4,723	5,028
Occupancy and equipment
5,597	5,093	5,185	4,934	5,539	5,126	5,218	4,974	5,290	4,848	5,804	4,866	5,123	4,024	-	4,002	3,843	3,591	3,640	3,161	3,984	4,024	3,913	4,894	4,486	4,233
Professional fees
5,263	3,764	3,398	3,923	3,970	3,288	5,327	4,297	4,027	4,240	4,503	4,141	3,559	2,835	-	3,327	2,652	3,108	3,560	3,289	3,603	3,572	2,610	3,620	3,105	2,898
Communication expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	1,040	16,904	788	928	934	1,026	1,031	1,225	1,173	1,108	1,046	1,242	1,114
Advertising
958	865	1,194	1,145	1,216	938	1,067	1,260	1,121	1,059	954	1,059	995	975	10,557	1,047	1,048	920	1,070	1,196	946	728	1,361	1,213	1,088	1,084
Equipment expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	798	1,473	959	931	904	949	1,075	925	956	1,251	1,077	995	1,027
Net loss on repossessed property and other related expenses
5,691	342	305	595	404	3,063	2,850	305	1,000	214	542	152	397	658	784	379	210	-110	-165	1,067	2,634	1,846	11,057	-1,564	-278	-571
Goodwill and intangible assets impairment
742,352	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of core deposits and other intangibles
-	-	-	-	-	-	-	-	-	-	-	538	550	839	1,025	822	708	709	708	1,776	2,313	2,313	2,767	4,069	4,691	4,688
Acquisition expenses
-	-	-	-	-	-	-	-	-	-	0	0	0	710	2,742	12,179	771	0	-	0	-	-	-	-	-	-
Other
5,157	5,188	5,430	5,270	4,950	4,643	4,844	4,728	4,844	4,755	7,669	3,928	3,979	3,347	4,124	3,742	4,045	3,622	3,436	2,566	3,427	3,563	-5,121	11,443	6,246	4,777
Total noninterest expense
808,453	56,930	55,212	56,000	56,580	57,106	59,550	57,863	59,144	54,868	55,332	54,922	53,852	52,537	57,343	61,222	44,855	44,220	44,835	46,430	48,438	47,091	48,318	54,278	49,327	48,299
(Loss) income before income taxes
-778,348	55,873	64,539	34,318	57,445	59,293	56,680	62,233	55,251	57,871	54,395	53,497	53,372	52,963	51,618	34,155	47,851	46,492	48,006	43,703	29,444	40,399	40,660	34,636	40,460	43,543
(Benefit from) provision for income taxes
-37,730	12,599	14,254	7,535	12,934	13,507	14,400	16,359	14,719	28,641	16,734	18,437	18,210	16,060	17,860	7,795	17,177	16,031	14,194	14,871	9,720	13,702	12,785	12,134	14,489	14,939
Net (loss) income
-740,618	43,274	50,285	26,783	44,511	45,786	42,280	45,874	40,532	29,230	37,661	35,060	35,162	36,903	33,758	26,360	30,674	30,461	33,812	28,832	19,724	26,697	27,875	22,502	25,971	28,604
Other comprehensive income (loss) - change in net unrealized gain (loss) on securities available for sale (net of deferred income tax (expense) benefit of $(721) and $(2,649) for the three months ended June 30, 2017 and 2016, respectively and $6,764 and $(4,115) for the nine months ended June 30, 2017 and 2016, respectively)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,322	9,998	-7,607	-	-3,845	5,153	3,115	-3,749	4,806	6,321	-6,454
Comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	30,682	40,672	22,854	-	24,987	24,877	29,812	24,126	27,308	32,292	22,150
Basic earnings per common share
Weighted average shares outstanding (in shares)
55,906	56,377	56,654	56,995	56,994	57,974	58,959	58,948	58,941	58,902	58,753	58,790	58,788	58,750	58,717	57,012	55,269	55,253	56,130	57,898	57,898	57,895	57,886	57,886	57,886	57,886
Earnings per share (in dollars per share)
-13.25	0.77	0.89	0.47	0.78	0.79	0.71	0.78	0.69	0.50	0.63	0.60	0.60	0.63	0.57	0.46	0.56	0.55	0.60	0.50	0.34	0.46	0.48	0.39	0.45	0.49
Diluted earnings per common share
Weighted average shares outstanding (in shares)
55,906	56,457	56,804	57,110	57,074	58,039	59,122	59,170	59,146	59,087	58,921	59,130	59,073	58,991	58,938	57,176	55,408	55,393	56,231	57,959	57,916	57,895	57,886	57,886	57,886	57,886
Diluted earnings per share (in dollars per share)
-13.25	0.77	0.88	0.47	0.78	0.79	0.71	0.78	0.69	0.49	0.63	0.59	0.60	0.63	0.58	0.46	0.55	0.55	0.60	0.50	0.34	0.46	0.48	0.39	0.45	0.49
Dividends per share
Dividends paid
16,769	16,885	17,052	17,081	14,235	14,536	14,728	14,724	11,780	11,770	11,752	11,752	9,989	9,981	8,218	7,734	7,734	7,733	6,627	6,946	6,947	0	0	34,000	34,000	34,000
Dividends per share (in dollars per share)
0.30	0.30	0.30	0.30	0.25	0.25	0.25	0.25	0.20	0.20	0.20	0.20	0.17	0.17	0.14	0.14	0.14	0.14	0.12	0.12	0.12	0.00	-0.00	0.59	0.59	0.59