STATE BANK FINANCIAL CORP STBZ Income Statement

State bank financial corp (STBZ)

Income statement / Quarterly

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	Sep'10	Jun'10
Interest income:
Loans
51,553	50,416	48,444	46,926	35,400	34,872	34,060	26,696	26,580	25,406	24,342	24,250	24,218	23,070	21,400	17,416	16,162	15,350	15,248	15,695	15,800	15,141	14,374	14,892	14,729	13,773	11,834	12,800	10,096	9,174	6,739	38,382	37,472
Loan accretion
8,154	6,595	5,946	10,671	6,520	9,228	7,677	10,271	9,335	13,961	9,743	14,240	11,156	8,365	16,069	14,124	21,110	17,087	26,536	48,065	27,978	25,787	20,636	27,839	18,893	32,191	23,490	29,408	36,938	25,139	25,482	-	-
Investment securities
5,831	6,275	5,986	5,671	5,564	5,655	5,368	4,746	4,670	4,660	4,553	4,005	3,926	3,894	3,389	2,630	2,232	2,202	2,148	2,164	2,252	2,355	2,220	2,624	2,583	2,728	2,760	2,905	2,687	2,482	2,278	2,129	2,130
Tax-exempt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22	24	31	-	79	109	104	-92	111	103	102	-	-
Deposits with other financial institutions
1,086	402	185	364	218	92	92	64	44	66	120	134	124	138	213	298	313	320	345	329	313	314	251	253	185	155	102	208	242	183	197	219	183
Total interest income
66,624	63,688	60,561	63,632	47,702	49,847	47,197	41,777	40,629	44,093	38,758	42,629	39,424	35,467	41,071	34,468	39,817	34,959	44,277	66,176	46,365	43,621	37,512	45,316	36,469	48,956	38,290	45,229	50,074	37,081	34,798	40,730	39,785
Interest expense:
Deposits
8,031	7,338	5,428	5,568	3,260	3,123	3,108	2,572	2,408	2,292	2,059	1,943	1,911	1,907	1,912	1,857	1,794	1,759	1,746	1,797	1,815	1,859	1,915	2,040	2,180	2,513	2,796	3,527	4,546	6,394	7,033	9,895	10,070
FHLB borrowings
0	206	257	28	94	229	112	40	73	27	0	-	3	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Notes payable
0	11	13	9	9	9	11	12	12	39	42	41	58	59	52	64	63	87	148	164	165	135	80	55	54	52	55	54	56	62	72	-	-
Federal funds purchased and repurchase agreements
8	3	7	9	7	8	8	7	11	13	12	10	5	6	15	1	0	0	0	0	1	1	1	1	1	1	1	-8	1	1	13	4	9
Total interest expense
8,039	7,558	5,705	5,614	3,370	3,369	3,239	2,631	2,504	2,371	2,113	1,994	1,977	1,972	1,979	1,923	1,857	1,846	1,894	1,961	1,981	1,995	1,996	2,096	2,235	2,566	2,852	3,595	4,603	6,457	7,118	9,899	10,079
Net interest income
58,585	56,130	54,856	58,018	44,332	46,478	43,958	39,146	38,125	41,722	36,645	40,635	37,447	33,495	39,092	32,545	37,960	33,113	42,383	64,215	44,384	41,626	35,516	43,220	34,234	46,390	35,438	41,634	45,471	30,624	27,680	30,831	29,706
Provision for loan and lease losses
2,209	2,393	3,208	2,848	415	1,845	1,002	277	88	6	-134	494	-265	64	3,193	1,189	416	701	590	-4,407	905	665	350	10,406	1,050	2,125	1,535	2,868	1,060	1,593	961	655	695
Provision for loan losses on purchased credit impaired loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-636	-1,288	-2,385	-	5,441	2,902	-1,283	16,768	2,815	451	0	-	-
Net interest income after provision for loan and lease losses
56,376	53,737	51,648	55,170	43,917	44,633	42,956	38,869	38,037	41,716	36,779	40,141	37,712	33,431	35,899	31,356	37,544	32,412	41,793	64,313	44,115	42,249	37,551	39,874	27,743	41,363	35,186	21,998	41,596	28,580	26,719	30,176	29,011
Noninterest income:
Amortization of FDIC receivable for loss share agreements
-	-	-	-	-	-	-	-	-	-	-	-32,976	0	15,040	1,448	-33,222	196	1,949	15,292	-144,396	18,971	20,762	16,779	-15,261	-6,291	-4,007	-7,010	-213	1,775	3,722	4,973	4,840	2,798
Service charges on deposits
1,572	1,462	1,625	1,678	1,575	1,471	1,467	1,319	1,383	1,352	1,386	1,495	1,491	1,501	1,489	1,274	1,206	1,196	1,158	1,304	1,353	1,284	1,215	1,408	1,298	1,199	1,212	1,370	1,383	1,435	1,413	1,611	1,660
Mortgage banking income
1,818	3,125	2,925	2,558	2,793	3,096	2,894	2,511	3,216	3,551	3,041	2,011	3,079	3,480	2,680	322	191	163	159	153	260	289	306	363	255	311	302	349	260	228	157	291	127
SBA income
1,401	1,252	1,192	1,866	1,464	1,983	1,178	1,718	1,553	1,685	1,502	1,316	1,720	1,380	1,123	477	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payroll and insurance income
1,667	1,608	1,760	1,698	1,487	1,418	1,495	1,528	1,297	1,282	1,518	1,591	1,004	956	1,158	1,050	875	822	953	879	727	705	832	622	0	0	0	-	-	-	-	-	-
Gain on FHLB stock redemptions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	101	434	-	-	574	1,132	-	-	-
Gain on acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	37	-
ATM income
909	919	870	860	826	864	832	735	759	769	745	741	742	773	725	624	621	636	590	604	604	635	605	619	611	610	585	551	525	541	488	465	516
Bank-owned life insurance income
541	463	455	467	526	465	484	467	533	468	462	472	537	462	455	343	333	329	329	342	333	335	344	-	-	-	-	-	-	-	-	-	-
Prepayment fees
-	-	-	-	-	-	-	-	-	-	368	-	551	404	1,982	986	135	73	142	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of investment securities
181	250	0	-1,481	3	13	12	42	38	396	13	16	17	-59	380	223	0	12	11	0	717	0	364	225	0	0	93	-20	-31	0	-3	119	44
Other
1,649	1,838	1,634	2,494	1,008	1,166	1,097	1,959	990	727	356	3,431	-247	422	258	-14	263	117	-212	-291	477	976	455	-511	737	-306	559	-3,102	2,203	777	1,036	934	377
Total noninterest income
9,738	10,917	10,461	10,140	9,682	10,476	9,459	9,911	9,769	10,230	9,391	8,136	8,894	-5,721	8,802	6,937	3,428	1,399	-12,162	-27,251	-14,500	-16,538	-12,658	-10,459	-3,289	-1,759	-4,259	16,020	6,689	7,835	8,064	8,297	5,522
Noninterest expense:
Salaries and employee benefits
23,166	24,279	26,042	28,577	20,701	21,178	21,388	19,554	19,799	20,662	18,760	19,914	23,293	20,506	19,582	17,797	14,644	14,575	15,077	14,500	14,794	15,547	17,395	15,134	12,811	13,628	12,963	14,333	12,293	11,895	11,677	10,628	9,788
Occupancy and equipment
3,240	3,421	3,496	3,576	3,187	3,329	3,280	3,069	2,984	3,015	3,101	2,995	3,113	3,219	3,105	2,615	2,440	2,314	2,529	2,330	2,431	2,550	2,456	2,500	2,469	2,419	2,457	2,795	2,008	1,997	1,892	2,283	1,974
Data processing
2,808	2,696	2,896	2,596	2,587	2,382	2,639	2,131	2,097	2,211	2,075	2,378	2,097	2,435	2,280	1,909	1,758	1,714	1,672	1,595	1,551	1,504	1,437	1,272	1,196	1,336	1,864	1,387	1,285	1,165	951	781	839
Legal and professional fees
1,187	967	739	973	700	898	1,805	1,702	1,064	976	953	1,214	1,089	1,284	1,484	844	851	731	1,014	1,154	954	1,280	1,601	1,669	1,265	2,173	1,517	1,342	1,758	1,574	1,843	1,064	1,006
Merger-related expenses
10,967	2,601	1,264	2,588	135	372	2,235	3,507	135	319	0	0	717	876	137	-	223	265	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Marketing
744	940	425	693	342	403	664	430	665	619	502	792	491	599	436	491	453	548	332	369	457	350	328	968	573	366	264	935	844	936	760	787	834
Federal deposit insurance premiums and other regulatory fees
528	589	500	498	407	398	397	188	441	553	562	518	621	455	506	393	356	337	334	303	939	604	469	673	378	355	418	193	-33	1,210	649	1,392	1,361
Loan collection costs and OREO activity
204	116	-166	-358	-181	213	1,042	127	841	96	-485	690	1,198	114	-405	112	0	32	-624	-733	-374	-1,944	-1,288	-928	484	42	-1,558	-1,740	-1,998	-2,485	-1,930	-2,898	-2,219
Amortization of intangibles
655	654	651	721	701	697	696	516	513	528	545	509	436	442	417	219	152	161	162	164	299	369	370	251	256	276	246	241	236	247	224	172	160
Other
3,227	3,952	3,089	104	2,630	2,553	2,503	1,905	1,623	1,887	1,915	1,932	1,757	1,655	1,735	1,336	1,633	1,463	1,339	1,570	1,325	1,313	1,320	1,387	1,371	1,415	1,406	1,679	1,400	1,585	1,513	1,267	939
Total noninterest expense
46,318	39,983	39,268	40,684	31,571	31,997	34,565	32,875	28,480	30,674	28,898	29,562	32,416	31,357	30,087	25,799	22,510	22,076	23,083	22,718	23,124	25,461	26,664	24,782	19,835	21,926	22,693	24,645	21,789	23,094	21,439	21,272	19,120
Income before income taxes
19,796	24,671	22,841	24,626	22,028	23,112	17,850	15,905	19,326	21,272	17,272	18,715	14,190	-3,647	14,614	12,494	18,462	11,735	6,548	14,344	6,491	250	-1,771	4,633	4,619	17,678	8,234	13,373	26,496	13,321	13,344	17,201	15,413
Income tax expense
1,841	5,904	5,476	19,249	7,592	7,909	6,292	5,578	6,885	7,287	6,434	6,594	5,071	-1,626	5,410	4,909	6,958	4,228	2,226	4,927	2,142	113	-615	1,418	1,261	6,647	3,096	4,284	9,392	4,739	5,113	6,439	5,839
Net income
17,955	18,767	17,365	5,377	14,436	15,203	11,558	10,327	12,441	13,985	10,838	12,121	9,119	-2,021	9,204	7,585	11,504	7,507	4,322	9,417	4,349	137	-1,156	3,215	3,358	11,031	5,138	9,089	17,104	8,582	8,231	10,762	9,574
Basic earnings per share (usd per share)
0.46	0.48	0.45	0.14	0.37	0.39	0.30	0.28	0.34	0.38	0.29	0.32	0.26	-0.06	0.27	0.24	0.36	0.23	0.13	0.30	0.14	0.00	-0.04	0.10	0.11	0.35	0.16	0.29	0.54	0.27	0.26	0.34	0.30
Diluted earnings per share (usd per share)
0.46	0.48	0.44	0.13	0.37	0.39	0.30	0.27	0.34	0.38	0.29	0.32	0.25	-0.06	0.26	0.23	0.35	0.22	0.13	0.30	0.13	0.00	-0.04	0.09	0.10	0.34	0.16	0.28	0.53	0.26	0.25	0.34	0.30
Cash dividends declared per common share (usd per share)
0.20	0.20	0.20	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.07	0.06	0.05	0.04	0.04	0.04	0.03	0.03	0.03	0.03	0.03	-	0.03	0.00	-	-	-	-	-	-	-
Weighted Average Shares Outstanding:
Basic (in shares)
38,193	38,038	38,032	38,010	37,918	37,896	37,867	35,948	35,863	35,822	36,092	36,307	34,687	34,654	33,593	30,951	31,723	32,126	32,094	30,734	31,998	31,918	31,908	31,906	31,654	31,613	31,611	-31,547,681	31,611	31,611	31,610,904	31,540	31,540
Diluted (shares)
38,211	38,075	38,070	38,118	37,963	37,942	37,954	36,057	35,965	35,923	36,187	38,650	36,003	34,654	34,862	31,306	32,770	33,589	33,644	32,286	33,296	33,124	31,908	33,181	32,808	32,776	32,794	-32,557,261	32,413	32,717	32,622,623	31,828	31,828