PEOPLE’S UNITED FINANCIAL, INC. PBCT Income Statement

People’s united financial, inc. (PBCT)

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	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09	Sep'08	Jun'08
Interest and dividend income:
Commercial real estate
149,600	147,200	136,600	139,900	132,700	130,200	114,700	111,500	107,000	106,200	105,600	105,300	88,600	86,800	85,700	85,300	86,800	86,100	85,700	86,400	85,300	87,700	89,200	88,600	88,700	88,500	90,000	87,200	85,500	86,000	91,300	96,400	91,700	100,300	98,000	92,500	101,600	85,900	76,300	75,600	74,300	74,100	73,900	70,800	69,000	75,400	74,700
Commercial and industrial
106,400	114,900	113,400	111,400	103,900	100,100	93,200	90,100	82,300	80,100	80,000	74,100	64,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equipment financing
68,200	66,700	65,300	62,800	59,000	56,700	56,200	50,500	48,900	47,500	41,500	31,500	31,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest and fee income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	89,100	87,500	85,300	86,700	86,400	87,200	86,700	90,700	91,300	91,100	92,800	89,000	95,100	85,900	78,600	65,500	68,100	69,700	58,000	48,100	49,600	50,600	50,600	56,600	56,900
Residential mortgage
90,400	88,200	84,700	85,500	70,700	70,200	56,000	55,300	54,700	53,400	52,500	52,300	49,300	47,000	45,700	43,800	43,900	43,000	41,900	40,300	40,200	39,800	38,100	37,800	37,800	36,400	34,700	34,300	34,500	34,600	37,100	35,800	36,200	35,600	34,500	29,700	29,300	27,100	26,500	27,700	28,100	27,700	35,100	37,800	40,700	45,400	48,400
Home equity and other consumer
28,000	30,800	24,700	25,700	24,900	24,400	22,000	21,400	20,800	20,700	21,000	19,900	18,400	18,100	18,400	18,400	18,600	18,100	18,100	18,000	18,100	18,700	18,500	18,400	18,300	18,700	18,600	18,700	18,800	19,500	19,800	20,000	20,700	21,200	21,500	20,600	20,900	22,100	22,200	22,500	22,800	23,500	24,000	24,000	23,900	27,200	26,800
Total interest on loans
442,600	-	424,700	425,300	391,200	-	342,100	328,800	313,700	-	300,600	283,100	252,500	248,700	249,500	243,300	242,900	239,900	238,200	235,000	232,500	235,300	234,900	232,300	230,100	230,300	229,700	227,400	225,500	230,800	239,500	243,300	241,400	246,100	249,100	228,700	230,400	200,600	193,100	195,500	183,200	173,400	182,600	183,200	184,200	204,600	206,800
Securities
51,200	47,800	44,700	46,200	47,800	48,500	46,600	45,100	44,000	41,600	37,200	37,900	37,000	36,900	34,200	34,700	34,500	33,800	31,200	29,000	27,500	24,000	23,600	24,100	25,100	22,800	22,000	22,200	22,700	20,700	20,300	18,300	18,000	17,300	21,700	23,400	21,000	13,600	12,600	9,200	8,100	8,400	7,500	7,200	9,300	4,800	7,400
Loans held-for-sale
3,300	300	200	100	200	300	200	200	200	-600	300	900	300	300	400	200	200	300	400	400	200	200	300	200	100	200	500	400	400	400	500	400	500	700	400	300	700	700	600	600	500	-	-	-	-	-	-
Short-term investments
2,000	1,000	1,300	1,200	1,300	1,400	1,100	1,300	1,200	1,800	1,100	100	700	400	400	300	400	200	100	100	100	100	100	100	100	100	0	100	100	100	0	400	300	500	500	400	700	1,500	800	1,500	1,700	1,800	1,400	1,600	1,700	12,500	9,400
Securities purchased under agreements to resell
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	400	100	100	-	400	200	-	500	3,900
Total interest and dividend income
499,100	496,900	470,900	472,800	440,500	431,800	390,000	375,400	359,100	350,700	339,200	322,000	290,500	286,300	284,500	278,500	278,000	274,200	269,900	264,500	260,300	259,600	258,900	256,700	255,400	253,400	252,200	250,100	248,700	252,000	260,300	262,400	260,200	264,600	271,700	252,800	252,800	215,800	207,500	206,900	193,600	187,500	191,900	192,200	195,200	222,400	227,500
Interest expense:
Deposits
78,900	86,900	92,200	96,600	81,200	70,600	56,900	47,300	41,300	38,300	34,400	30,900	27,100	25,100	25,200	25,400	25,200	24,600	24,800	23,900	22,200	21,700	20,200	19,700	19,300	19,700	20,100	20,500	20,800	22,000	22,100	23,600	23,100	25,900	28,500	26,400	26,600	26,500	27,600	29,000	29,700	35,900	42,500	46,800	48,200	58,000	65,800
Borrowings
15,400	18,500	21,500	19,300	17,700	20,000	18,200	18,500	14,200	12,400	12,700	8,900	7,300	6,400	6,100	5,300	5,000	3,300	2,900	2,700	2,600	2,400	2,800	2,800	3,100	2,900	2,700	2,600	2,300	1,900	1,800	1,600	1,700	1,700	2,400	2,400	2,500	1,200	300	300	500	400	300	400	400	800	900
Notes and debentures
8,800	8,800	8,500	8,800	8,800	8,600	8,500	8,400	7,800	7,600	7,500	7,300	7,500	8,000	7,900	7,800	7,700	7,500	7,400	7,500	7,400	7,400	7,400	6,000	5,900	5,900	5,900	6,100	6,300	3,000	1,600	1,600	2,200	2,800	3,100	2,800	3,400	3,300	3,800	3,800	3,800	3,700	3,800	3,800	3,800	3,800	3,800
Total interest expense
103,100	114,200	122,200	124,700	107,700	99,200	83,600	74,200	63,300	58,300	54,600	47,100	41,900	39,500	39,200	38,500	37,900	35,400	35,100	34,100	32,200	31,500	30,400	28,500	28,300	28,500	28,700	29,200	29,400	26,900	25,500	26,800	27,000	30,400	34,000	31,600	32,500	31,000	31,700	33,100	34,000	40,000	46,600	51,000	52,400	62,600	70,500
Net interest income
396,000	382,700	348,700	348,100	332,800	332,600	306,400	301,200	295,800	292,400	284,600	274,900	248,600	246,800	245,300	240,000	240,100	238,800	234,800	230,400	228,100	228,100	228,500	228,200	227,100	224,900	223,500	220,900	219,300	225,100	234,800	235,600	233,200	234,200	237,700	221,200	220,300	184,800	175,800	173,800	159,600	147,500	145,300	141,200	142,800	159,800	157,000
Provision for credit losses (notes 3 and 4)
33,500	7,300	7,800	7,600	5,600	9,900	8,200	6,500	5,400	7,500	7,000	7,100	4,400	7,700	8,400	10,000	10,500	9,700	6,200	7,700	9,800	9,900	12,400	8,800	9,500	10,000	12,100	9,200	12,400	12,000	15,100	10,600	11,500	20,700	14,400	14,000	14,600	-109,100	21,800	17,800	9,500	13,600	21,500	14,000	7,900	6,800	2,400
Net interest income after provision for credit losses
362,500	375,400	340,900	340,500	327,200	322,700	298,200	294,700	290,400	284,900	277,600	267,800	244,200	239,100	236,900	230,000	229,600	229,100	228,600	222,700	218,300	218,200	216,100	219,400	217,600	214,900	211,400	211,700	206,900	213,100	219,700	225,000	221,700	213,500	223,300	207,200	205,700	173,900	154,000	156,000	150,100	133,900	123,800	127,200	134,900	153,000	154,600
Non-interest income:
Operating leases
12,600	12,800	13,000	12,700	12,700	12,000	11,000	11,200	10,700	11,700	10,900	11,000	10,200	9,500	11,200	10,100	10,400	10,500	10,500	10,500	10,800	10,200	10,200	9,900	11,300	9,400	8,700	8,100	8,300	8,500	8,300	7,700	6,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total wealth management income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,000	-	19,100	18,600	19,100	21,800	21,800
Commercial banking lending fees
12,100	12,900	11,800	10,200	7,800	9,600	7,900	9,400	10,400	8,800	7,000	11,500	8,200	7,200	7,100	9,200	8,100	9,200	10,300	9,800	13,300	11,600	8,600	7,400	8,800	-	9,200	8,300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Insurance revenue
10,900	7,500	10,300	8,700	10,500	6,700	9,800	8,300	9,800	6,900	9,700	7,500	9,100	6,800	9,800	7,000	9,300	7,500	9,100	6,500	7,600	6,600	8,800	6,800	7,700	6,700	9,100	7,100	8,300	6,700	9,500	7,200	8,400	7,200	9,000	6,600	7,900	6,900	8,300	6,300	7,300	7,000	7,900	6,800	8,300	8,800	8,100
Cash management fees
7,400	7,100	7,300	7,200	6,800	6,500	7,000	7,000	6,600	6,500	6,800	6,500	6,300	6,200	6,500	6,300	6,000	6,100	6,400	6,100	5,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net security gains (losses) (note 4)
-	-	-	-	-	-	-	-	-	-9,800	0	100	-15,700	-6,000	-100	100	100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	8,600	100	100	-	-	-	-	-100	4,700	12,000	5,400	-200	-200
Brokerage commissions
-	-	2,600	2,600	-	3,300	3,200	3,200	3,100	2,900	2,800	3,400	3,000	2,800	3,200	3,200	3,000	3,100	3,100	3,200	3,200	3,400	3,400	3,600	3,200	3,700	3,300	3,400	3,300	2,900	2,800	3,400	3,100	2,600	2,800	3,300	3,200	2,900	2,800	2,800	2,800	2,900	2,800	3,200	3,300	4,100	4,200
Net gains on sales of residential mortgage loans (note 5)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,900	900	900	1,300	1,500	2,000	700	1,000	1,100	0	800	1,000	3,900	4,200	5,700	-	-	-	-	-	1,300	1,100	3,100	-	2,400	2,700	2,800	3,000	5,200	3,800	1,900	1,500	2,200
Bank-owned life insurance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,400	2,600	1,800	1,900	2,200	2,700	1,600	2,100	1,700
Merchant services income, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,100	1,100	1,000	-14,700	6,700	6,100	5,800	7,500	7,100
Gain on sale of business, net of expenses (note 8)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (losses) gains on sales of acquired loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-200	-	-	-	-400	-	-	-	5,800	-	-	-	-	-	-	-4,800	7,200	5,500	-	-	-	-	-	-	-	-	-	-
Other non-interest income (note 2)
34,700	35,500	16,700	21,400	12,300	17,300	11,100	14,300	8,200	18,300	9,900	10,300	24,100	23,100	14,200	12,500	9,600	19,500	9,300	8,500	12,500	8,100	7,900	8,800	7,800	-2,500	9,400	9,800	20,200	-10,200	15,500	12,700	11,700	-4,700	23,600	17,100	15,600	6,100	12,900	12,700	9,400	6,800	9,000	8,900	8,000	8,400	8,400
Total non-interest income
123,800	124,200	106,000	106,300	94,600	88,800	92,300	94,900	90,400	87,300	89,300	91,600	84,700	84,200	90,800	85,400	82,300	93,300	87,100	83,000	89,000	86,800	84,000	100,100	79,900	82,500	86,100	88,200	84,900	90,900	81,400	75,700	72,400	71,700	84,700	76,600	74,600	68,100	68,000	69,700	64,200	46,900	80,200	85,000	72,200	74,200	73,400
Non-interest expense:
Compensation and benefits
173,900	171,400	158,100	161,300	155,400	151,500	135,700	135,000	140,700	132,800	129,900	132,100	127,900	122,500	116,100	111,400	114,100	112,000	113,400	109,300	114,800	108,200	108,100	109,300	110,400	107,600	106,900	104,400	108,200	97,400	106,700	104,500	110,300	111,000	110,100	102,500	105,400	98,300	93,200	92,600	96,300	89,200	86,000	86,600	88,700	85,600	86,700
Occupancy and equipment
51,000	52,200	45,000	44,400	44,300	44,600	41,600	40,800	41,200	41,000	40,200	39,800	38,600	37,800	37,700	37,400	37,500	37,000	37,000	36,800	38,700	36,300	36,400	36,600	38,000	36,500	36,700	36,900	37,900	37,900	36,500	34,100	33,400	34,400	34,900	30,900	33,100	28,100	28,000	28,500	29,800	28,000	27,500	26,300	28,000	26,100	26,100
Professional and outside services
38,500	29,600	23,700	24,900	20,000	21,400	17,000	20,600	18,600	18,700	19,200	28,100	15,500	16,300	17,700	16,400	17,400	17,900	17,000	17,300	15,800	14,700	14,300	14,900	15,300	15,700	16,100	14,900	13,900	16,800	15,800	17,500	15,300	18,700	18,600	17,400	15,900	19,800	18,500	20,800	13,600	10,000	11,600	11,700	10,700	11,900	11,800
Amortization of other acquisition-related intangible assets (note 8)
10,700	9,800	8,000	8,000	6,700	6,900	4,900	4,900	5,100	7,900	7,900	7,900	6,300	6,200	5,800	5,800	5,800	6,100	5,900	6,000	5,900	6,200	6,200	6,200	6,200	6,600	6,500	6,600	6,500	6,700	6,700	6,800	6,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Expense related to operating leases
9,800	9,600	9,900	9,900	9,400	9,800	8,900	8,700	9,000	8,900	8,800	8,700	8,800	8,300	9,700	9,100	9,200	9,400	9,200	9,200	9,300	8,900	8,700	8,700	11,100	8,400	7,800	7,600	7,500	7,500	6,800	6,400	5,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Regulatory assessments
8,700	7,300	5,300	6,500	7,000	7,400	10,000	9,900	10,600	11,900	10,300	9,900	9,600	10,400	9,900	9,200	8,000	7,100	9,500	9,200	9,300	9,400	8,500	9,000	8,700	-	8,600	8,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,200
Merger-related expenses (note 5)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,300	20,100	6,400	3,100	4,800	1,000	2,800	14,700	-	0	0	-	0	0
Merchant services expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,700	5,200	4,900	6,800	5,900
Other non-interest expense
27,500	45,800	31,400	23,400	34,400	21,100	23,200	28,700	18,300	18,600	20,800	30,800	19,400	15,700	24,500	23,600	25,300	27,500	22,200	24,000	23,800	24,000	26,600	23,600	27,000	17,300	29,900	26,800	38,000	10,300	36,400	36,400	37,400	6,200	48,200	49,800	45,300	10,300	45,600	58,000	39,500	34,000	34,300	46,400	38,800	28,300	31,200
Total non-interest expense
320,100	325,700	281,400	278,400	277,200	262,700	241,300	248,600	243,500	239,800	237,100	257,300	226,100	217,200	221,400	212,900	217,300	217,000	214,200	211,800	217,600	207,700	208,800	208,300	216,700	208,700	212,500	205,800	212,000	207,400	208,900	205,700	208,600	230,200	231,900	207,000	202,800	199,100	186,300	202,700	193,900	147,400	165,100	176,200	171,100	158,700	162,900
Income before income tax expense
166,200	173,900	165,500	168,400	144,600	148,800	149,200	141,000	137,300	132,400	129,800	102,100	102,800	106,100	106,300	102,500	94,600	105,400	101,500	93,900	89,700	97,300	91,300	111,200	80,800	88,700	85,000	94,100	79,800	96,600	92,200	95,000	85,500	55,000	76,100	76,800	77,500	42,900	35,700	23,000	20,400	33,400	38,900	36,000	36,000	68,500	65,100
Income tax expense (note 1)
35,800	36,400	30,400	35,200	30,000	15,800	32,200	30,800	29,400	26,100	39,000	32,800	32,000	30,200	32,600	34,000	31,700	34,600	33,100	32,200	30,500	32,600	29,700	38,900	27,700	29,400	26,500	32,000	27,300	35,400	30,000	30,400	28,200	17,000	24,600	25,600	25,800	14,100	11,600	7,000	6,800	8,500	12,100	10,700	11,800	22,500	22,100
Net income
130,400	137,500	135,100	133,200	114,600	133,000	117,000	110,200	107,900	106,300	90,800	69,300	70,800	75,900	73,700	68,500	62,900	70,800	68,400	61,700	59,200	64,700	61,600	72,300	53,100	59,300	58,500	62,100	52,500	61,200	62,200	64,600	57,300	38,000	51,500	51,200	51,700	28,800	24,100	16,000	13,600	24,900	26,800	25,300	24,200	46,000	43,000
Preferred stock dividend
3,500	3,600	3,500	3,500	3,500	3,600	3,500	3,500	3,500	3,600	3,500	3,500	3,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income available to common shareholders
126,900	133,900	131,600	129,700	111,100	129,400	113,500	106,700	104,400	102,700	87,300	65,800	67,300	74,100	73,700	68,500	62,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings per common share (note 7):
Earnings per common share (note 16):
Basic (USD per share)
0.30	0.31	0.34	0.33	0.30	0.35	0.33	0.31	0.31	0.30	0.26	0.20	0.22	0.24	0.24	0.23	0.21	0.23	0.23	0.20	0.20	0.21	0.21	0.24	0.18	0.19	0.19	0.20	0.16	0.18	0.18	0.19	0.17	0.11	0.14	0.15	0.15	0.08	0.07	0.04	0.04	0.07	0.08	0.08	0.07	0.14	0.13
Diluted (USD per share)
0.30	0.31	0.33	0.33	0.30	0.35	0.33	0.31	0.30	0.30	0.26	0.19	0.22	0.24	0.24	0.23	0.21	0.23	0.23	0.20	0.20	0.21	0.21	0.24	0.18	0.19	0.19	0.20	0.16	0.18	0.18	0.19	0.17	0.11	0.14	0.15	0.15	0.08	0.07	0.04	0.04	0.07	0.08	0.08	0.07	0.14	0.13
Bank service charges
Fees
28,000	28,900	27,000	26,400	25,200	26,900	24,900	24,300	23,800	24,700	25,300	25,000	23,500	24,200	25,300	24,700	23,800	25,100	26,100	25,300	24,200	9,100	33,300	32,800	30,500	31,800	33,300	32,100	30,100	31,400	33,000	32,500	30,300	31,600	35,800	32,900	31,000	30,700	31,500	32,900	31,200	32,200	33,300	32,900	30,400	33,100	32,400
Investment management fees
Fees
18,100	13,900	17,300	17,100	19,300	16,400	17,400	17,200	17,700	17,300	16,900	16,300	16,000	14,200	11,600	11,400	11,100	10,800	10,800	11,300	10,800	10,500	10,700	10,600	9,800	9,600	9,200	9,400	9,000	8,900	8,700	8,700	8,600	8,300	8,400	8,300	8,200	7,900	7,600	8,600	7,900	7,900	8,400	8,600	7,500	8,900	9,500