United Financial Bancorp, Inc. UBNK Income Statement

United financial bancorp, inc. (UBNK)

Income statement / Quarterly

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	Sep'10	Jun'10
Interest and dividend income:
Loans
65,650	64,764	63,227	61,061	57,958	54,780	52,758	51,809	49,674	46,493	45,460	45,331	43,556	45,472	41,751	41,878	41,253	40,527	40,811	40,119	35,237	16,844	16,898	16,898	16,801	17,155	17,824	17,883	17,930	17,564	17,619	17,828	17,481	17,535	17,833	17,357
Securities - taxable interest
6,117	6,475	5,705	5,822	5,969	5,498	5,643	5,604	5,793	5,510	4,848	4,808	4,926	5,096	5,092	4,907	4,771	5,269	5,303	5,180	3,981	1,903	1,995	1,828	1,640	1,224	1,109	1,082	1,145	1,188	1,100	1,244	1,286	1,049	1,118	1,145
Securities - non-taxable interest
644	1,094	2,339	2,347	2,354	2,429	2,571	2,499	2,355	2,254	2,191	2,140	2,051	2,010	2,001	2,080	2,181	2,092	1,794	1,495	1,053	771	763	685	650	650	652	651	558	118	-	-	-	-	-	-
Securities - dividends
653	656	702	748	736	637	669	736	689	808	986	990	1,021	923	809	708	472	374	280	381	468	173	72	71	72	35	46	42	41	44	43	45	149	130	117	115
Interest-bearing deposits
341	225	250	213	113	150	86	151	51	101	136	67	67	73	61	52	34	33	21	26	28	11	20	18	21	21	25	13	26	11	32	8	16	15	1	3
Total interest and dividend income
73,405	73,214	72,223	70,191	67,130	63,494	61,727	60,799	58,562	55,166	53,621	53,336	51,621	53,574	49,714	49,625	48,711	48,295	48,209	47,201	40,767	19,702	19,748	19,500	19,184	19,085	19,656	19,671	19,700	18,925	18,794	19,125	18,932	18,729	19,069	18,620
Interest expense:
Deposits
20,564	19,931	18,183	15,767	12,864	11,027	9,958	9,185	7,603	6,819	6,649	6,279	6,382	6,266	5,799	5,319	5,584	4,740	4,265	3,990	3,146	2,158	2,130	2,000	1,878	1,984	2,088	2,149	2,246	2,251	2,582	2,862	2,897	2,911	2,815	2,853
Borrowed funds
5,831	6,346	5,678	5,995	6,085	5,924	4,920	4,846	4,631	4,050	3,800	4,028	3,743	3,906	3,222	2,663	2,224	2,212	2,052	1,018	742	636	642	627	605	594	541	558	563	548	632	899	2,265	2,423	2,701	2,608
Total interest expense
26,395	26,277	23,861	21,762	18,949	16,951	14,878	14,031	12,234	10,869	10,449	10,307	10,125	10,172	9,021	7,982	7,808	6,952	6,317	5,008	3,888	2,794	2,772	2,627	2,483	2,578	2,629	2,707	2,809	2,799	3,214	3,761	5,162	5,334	5,516	5,461
Net interest income
47,010	46,937	48,362	48,429	48,181	46,543	46,849	46,768	46,328	44,297	43,172	43,029	41,496	43,402	40,693	41,643	40,903	41,343	41,892	42,193	36,879	16,908	16,976	16,873	16,701	16,507	17,027	16,964	16,891	16,126	15,580	15,364	13,770	13,395	13,553	13,159
Provision for loan losses
2,472	2,043	2,618	2,007	2,350	1,939	2,250	2,566	2,292	2,288	3,359	3,766	3,624	2,688	3,780	3,252	4,462	1,511	4,333	2,633	2,080	450	720	532	403	391	909	793	1,181	704	761	754	754	752	1,302	909
Net interest income after provision for loan losses
44,538	44,894	45,744	46,422	45,831	44,604	44,599	44,202	44,036	42,009	39,813	39,263	37,872	40,714	36,913	38,391	36,441	39,832	37,559	39,560	34,799	16,458	16,256	16,341	16,298	16,116	16,118	16,171	15,710	15,422	14,819	14,610	13,016	12,643	12,251	12,250
Non-interest income:
Service charges and fees
7,538	6,185	7,447	6,623	6,542	6,159	6,031	6,514	7,184	5,645	6,335	5,726	4,359	4,594	5,606	5,960	5,643	3,831	4,330	3,657	3,636	1,886	1,125	2,571	2,005	1,549	1,682	1,578	1,534	1,686	1,552	1,521	1,682	1,596	1,948	1,992
Gain on sales of securities, net
137	-	-	-	62	-	-	-	-	457	-	48	367	1,452	300	-59	360	338	-59	430	589	268	0	29	329	227	579	214	118	3	-	74	6,201	-	2	-
Debt and Equity Securities, Gain (Loss)
-	737	-	-58	-	116	-	158	95	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other-than-temporary impairment losses on equity securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	29	-	-
(Loss) income from mortgage banking activities
-410	591	698	1,486	846	1,729	1,184	1,204	1,830	1,321	2,838	2,198	2,331	860	1,934	2,257	2,990	2,371	434	978	1,236	555	2,406	1,736	1,001	2,060	1,334	2,514	44	525	1,251	405	0	59	669	364
Bank-owned life insurance income
1,521	1,946	1,517	1,460	1,671	1,646	1,939	1,167	1,149	1,207	863	899	814	818	1,059	893	830	834	897	873	750	522	514	544	524	510	563	527	524	306	-	-	-	-	-	-
Net loss on limited partnership investments
-7,898	-603	-405	-221	-960	-590	-1,441	-864	-638	-80	-705	-850	-1,504	-936	-799	-991	-916	-430	-2,048	-2,176	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Other (loss) income
-48	124	211	265	199	229	-204	247	206	182	266	-132	165	-61	363	-242	464	-109	-553	314	108	-22	-1,086	220	249	538	1,006	-219	39	150	-388	212	-64	62	127	9
Total non-interest income
840	8,980	9,493	9,555	8,360	9,289	7,581	8,426	9,826	8,732	9,691	7,889	6,532	6,727	8,463	7,818	9,371	6,835	3,001	4,076	6,319	3,209	2,959	5,100	4,108	4,884	5,164	4,614	2,259	2,670	3,040	2,212	7,819	1,688	2,746	2,365
Non-interest expense:
Salaries and employee benefits
21,923	22,202	25,341	22,643	22,113	21,198	20,752	20,005	19,574	19,730	19,279	18,301	20,013	17,791	17,308	16,994	16,595	16,572	16,758	17,791	14,541	10,242	9,680	8,962	9,112	8,674	9,281	8,314	8,468	7,123	5,938	6,023	6,613	5,671	4,958	4,831
Service bureau fees
2,198	2,037	2,309	2,209	2,165	2,218	2,304	2,336	2,293	2,330	2,522	1,960	2,230	2,029	1,614	1,828	1,466	1,820	2,304	3,016	1,768	1,091	663	888	921	815	802	946	1,231	1,057	1,041	1,110	1,128	1,059	1,020	987
Occupancy and equipment
5,111	5,540	6,384	4,487	4,668	4,949	5,036	3,740	3,657	4,469	3,656	3,580	3,850	3,900	3,842	3,343	3,799	4,458	5,653	3,278	2,610	1,698	1,519	1,514	2,210	1,436	1,298	1,254	1,036	1,065	1,038	1,097	1,100	1,166	1,056	1,055
Professional fees
2,414	1,293	1,136	1,013	1,105	1,164	996	1,048	952	1,309	1,024	1,125	887	881	3,037	1,581	782	917	1,297	1,081	856	428	429	608	617	723	638	1,049	828	718	630	725	498	684	378	368
Marketing and promotions
782	858	1,108	1,119	1,189	685	1,011	1,087	1,237	712	778	656	1,023	592	478	587	620	636	1,420	367	280	229	42	266	98	70	125	70	103	114	204	202	441	324	247	397
FDIC insurance assessments
769	659	611	655	735	739	821	780	796	679	773	819	1,042	939	1,041	750	823	1,078	818	785	632	318	301	247	330	294	272	268	201	305	256	-29	506	514	406	401
Other real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	136	125	308	241	173	214	246	96	110	53	281	601	2	15	59	498	99
Core deposit intangible amortization
388	420	420	288	305	337	336	337	353	385	385	385	401	433	433	433	449	481	481	481	321	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Merger related expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,136	4,008	20,945	1,829	-	0	-	-	-	-	-	-	-	-	-	-	-	-
FHLBB prepayment penalties
-	-	-	-	-	-	-	-	-	-	0	0	0	1,454	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contribution to Rockville Bank Foundation, Inc.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	5,043	-	-
Loss on extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-8,914	-	-	-
Other
5,872	6,178	6,409	6,529	6,090	5,446	5,981	5,929	6,467	5,308	5,631	5,410	5,235	5,744	5,977	6,360	5,823	4,695	6,778	3,979	4,099	2,114	2,159	2,105	2,356	2,412	2,516	2,499	1,895	1,680	2,060	1,466	1,493	1,424	1,313	1,254
Total non-interest expense
39,457	39,187	43,718	38,943	38,370	36,736	37,237	35,262	35,329	34,922	34,048	32,236	34,681	33,763	35,305	31,876	30,357	30,657	45,076	34,922	46,177	18,257	17,175	14,763	15,858	14,670	15,028	14,510	13,815	12,343	11,768	10,596	20,708	15,944	9,876	9,392
Income before income taxes
5,921	14,687	11,519	17,034	15,821	17,157	14,943	17,366	18,533	15,819	15,456	14,916	9,723	13,678	10,071	14,333	15,455	16,010	-4,516	8,714	-5,059	1,410	2,040	6,678	4,548	6,330	6,254	6,275	4,154	5,749	6,091	6,226	127	-1,613	5,121	5,223
Provision for income taxes
9,169	2,030	-646	726	175	1,370	5,442	2,175	2,333	2,093	906	757	665	1,784	169	952	2,123	2,985	-5,937	-1,271	512	463	283	2,058	1,249	1,779	1,929	1,607	1,205	1,894	2,103	2,143	84	-591	1,862	1,759
Net Income (Loss) Attributable to Parent
-3,248	12,657	12,165	16,308	15,646	15,787	9,501	15,191	16,200	13,726	14,550	14,159	9,058	11,894	9,902	13,381	13,332	13,025	1,421	9,985	-5,571	947	1,757	4,620	3,299	4,551	4,325	4,668	2,949	3,855	3,988	4,083	43	-1,022	3,259	3,464
Net (loss) income per share:
Basic (in usd per share)
-0.06	0.25	0.24	0.32	0.31	0.31	0.20	0.30	0.32	0.27	0.30	0.28	0.18	0.24	0.20	0.27	0.27	0.27	0.06	0.19	-0.13	0.04	0.07	0.18	0.13	0.17	0.16	0.17	0.11	0.13	0.15	0.14	0.00	-0.04	0.12	0.12
Diluted (in usd per share)
-0.06	0.25	0.23	0.32	0.31	0.31	0.18	0.30	0.32	0.27	0.29	0.28	0.18	0.24	0.20	0.27	0.27	0.26	0.06	0.19	-0.13	0.04	0.07	0.18	0.12	0.17	0.15	0.17	0.11	0.13	0.15	0.14	0.00	-0.04	0.12	0.12
Weighted-average shares outstanding:
Weighted Average Number of Shares Outstanding, Basic
50,620	50,615	50,616	50,624	50,504	50,474	50,393	50,263	50,217	50,257	50,077	49,800	49,623	49,423	49,166	48,931	48,837	48,715	50,710	52,162	43,178	25,265	25,200	25,491	26,326	27,228	27,358	27,659	27,606	28,560	27,609	28,913	28,803	29,049	28,122	28,086
Weighted Average Number of Shares Outstanding, Diluted
50,620	50,907	50,973	51,104	50,974	50,996	51,026	50,889	50,839	50,935	50,615	50,141	49,946	49,652	49,527	49,429	49,309	49,275	51,467	52,750	43,178	25,681	25,633	25,832	26,677	27,561	27,753	27,847	27,773	28,728	27,756	29,035	28,931	29,049	28,151	28,116