United Financial Bancorp, Inc. UBNK Income Statement

United financial bancorp, inc. (UBNK)

Income statement / TTM

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
254,702	247,010	237,026	226,557	217,305	209,021	200,734	193,436	186,958	180,840	179,819	176,110	172,657	170,354	165,409	164,469	162,710	156,694	133,011	109,098	85,877	67,441	67,752	68,678	69,663	70,792	71,201	70,996	70,941	70,492	70,463	70,677	70,206	0	0	0
Securities - taxable interest
24,119	23,971	22,994	22,932	22,714	22,538	22,550	21,755	20,959	20,092	19,678	19,922	20,021	19,866	20,039	20,250	20,523	19,733	16,367	13,059	9,707	7,366	6,687	5,801	5,055	4,560	4,524	4,515	4,677	4,818	4,679	4,697	4,598	0	0	0
Securities - non-taxable interest
6,424	8,134	9,469	9,701	9,853	9,854	9,679	9,299	8,940	8,636	8,392	8,202	8,142	8,272	8,354	8,147	7,562	6,434	5,113	4,082	3,272	2,869	2,748	2,637	2,603	2,511	1,979	0	0	0	-	-	-	-	-	-
Securities - dividends
2,759	2,842	2,823	2,790	2,778	2,731	2,902	3,219	3,473	3,805	3,920	3,743	3,461	2,912	2,363	1,834	1,507	1,503	1,302	1,094	784	388	250	224	195	164	173	170	173	281	367	441	511	0	0	0
Interest-bearing deposits
1,029	801	726	562	500	438	389	439	355	371	343	268	253	220	180	140	114	108	86	85	77	70	80	85	80	85	75	82	77	67	71	40	35	0	0	0
Total interest and dividend income
289,033	282,758	273,038	262,542	253,150	244,582	236,254	228,148	220,685	213,744	212,152	208,245	204,534	201,624	196,345	194,840	192,416	184,472	155,879	127,418	99,717	78,134	77,517	77,425	77,596	78,112	77,952	77,090	76,544	75,776	75,580	75,855	75,350	0	0	0
Interest expense:
Deposits
74,445	66,745	57,841	49,616	43,034	37,773	33,565	30,256	27,350	26,129	25,576	24,726	23,766	22,968	21,442	19,908	18,579	16,141	13,559	11,424	9,434	8,166	7,992	7,950	8,099	8,467	8,734	9,228	9,941	10,592	11,252	11,485	11,476	0	0	0
Borrowed funds
23,850	24,104	23,682	22,924	21,775	20,321	18,447	17,327	16,509	15,621	15,477	14,899	13,534	12,015	10,321	9,151	7,506	6,024	4,448	3,038	2,647	2,510	2,468	2,367	2,298	2,256	2,210	2,301	2,642	4,344	6,219	8,288	9,997	0	0	0
Total interest expense
98,295	90,849	81,523	72,540	64,809	58,094	52,012	47,583	43,859	41,750	41,053	39,625	37,300	34,983	31,763	29,059	26,085	22,165	18,007	14,462	12,081	10,676	10,460	10,317	10,397	10,723	10,944	11,529	12,583	14,936	17,471	19,773	21,473	0	0	0
Net interest income
190,738	191,909	191,515	190,002	188,341	186,488	184,242	180,565	176,826	171,994	171,099	168,620	167,234	166,641	164,582	165,781	166,331	162,307	137,872	112,956	87,636	67,458	67,057	67,108	67,199	67,389	67,008	65,561	63,961	60,840	58,109	56,082	53,877	0	0	0
Provision for loan losses
9,140	9,018	8,914	8,546	9,105	9,047	9,396	10,505	11,705	13,037	13,437	13,858	13,344	14,182	13,005	13,558	12,939	10,557	9,496	5,883	3,782	2,105	2,046	2,235	2,496	3,274	3,587	3,439	3,400	2,973	3,021	3,562	3,717	0	0	0
Net interest income after provision for loan losses
181,598	182,891	182,601	181,456	179,236	177,441	174,846	170,060	165,121	158,957	157,662	154,762	153,890	152,459	151,577	152,223	153,392	151,750	128,376	107,073	83,854	65,353	65,011	64,873	64,703	64,115	63,421	62,122	60,561	57,867	55,088	52,520	50,160	0	0	0
Non-interest income:
Service charges and fees
27,793	26,797	26,771	25,355	25,246	25,888	25,374	25,678	24,890	22,065	21,014	20,285	20,519	21,803	21,040	19,764	17,461	15,454	13,509	10,304	9,218	7,587	7,250	7,807	6,814	6,343	6,480	6,350	6,293	6,441	6,351	6,747	7,218	0	0	0
Gain on sales of securities, net
0	-	-	-	0	-	-	-	-	966	-	2,167	2,060	2,053	939	580	1,069	1,298	1,228	1,287	886	626	585	1,164	1,349	1,138	914	409	6,396	0	-	0	0	-	0	-
Debt and Equity Securities, Gain (Loss)
-	766	-	278	-	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other-than-temporary impairment losses on equity securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	29	0	0	0	-	-
(Loss) income from mortgage banking activities
2,365	3,621	4,759	5,245	4,963	5,947	5,539	7,193	8,187	8,688	8,227	7,323	7,382	8,041	9,552	8,052	6,773	5,019	3,203	5,175	5,933	5,698	7,203	6,131	6,909	5,952	4,417	4,334	2,225	2,181	1,715	1,133	1,092	0	0	0
Bank-owned life insurance income
6,444	6,594	6,294	6,716	6,423	5,901	5,462	4,386	4,118	3,783	3,394	3,590	3,584	3,600	3,616	3,454	3,434	3,354	3,042	2,659	2,330	2,104	2,092	2,141	2,124	2,124	1,920	0	0	0	-	-	-	-	-	-
Net loss on limited partnership investments
-9,127	-2,189	-2,176	-3,212	-3,855	-3,533	-3,023	-2,287	-2,273	-3,139	-3,995	-4,089	-4,230	-3,642	-3,136	-4,385	-5,570	-4,654	-4,224	-2,176	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Other (loss) income
552	799	904	489	471	478	431	901	522	481	238	335	225	524	476	-440	116	-240	-153	-686	-780	-639	-79	2,013	1,574	1,364	976	-418	13	-90	-178	337	134	0	0	0
Total non-interest income
28,868	36,388	36,697	34,785	33,656	35,122	34,565	36,675	36,138	32,844	30,839	29,611	29,540	32,379	32,487	27,025	23,283	20,231	16,605	16,563	17,587	15,376	17,051	19,256	18,770	16,921	14,707	12,583	10,181	15,741	14,759	14,465	14,618	0	0	0
Non-interest expense:
Salaries and employee benefits
92,109	92,299	91,295	86,706	84,068	81,529	80,061	78,588	76,884	77,323	75,384	73,413	72,106	68,688	67,469	66,919	67,716	65,662	59,332	52,254	43,425	37,996	36,428	36,029	35,381	34,737	33,186	29,843	27,552	25,697	24,245	23,265	22,073	0	0	0
Service bureau fees
8,753	8,720	8,901	8,896	9,023	9,151	9,263	9,481	9,105	9,042	8,741	7,833	7,701	6,937	6,728	7,418	8,606	8,908	8,179	6,538	4,410	3,563	3,287	3,426	3,484	3,794	4,036	4,275	4,439	4,336	4,338	4,317	4,194	0	0	0
Occupancy and equipment
21,522	21,079	20,488	19,140	18,393	17,382	16,902	15,522	15,362	15,555	14,986	15,172	14,935	14,884	15,442	17,253	17,188	15,999	13,239	9,105	7,341	6,941	6,679	6,458	6,198	5,024	4,653	4,393	4,236	4,300	4,401	4,419	4,377	0	0	0
Professional fees
5,856	4,547	4,418	4,278	4,313	4,160	4,305	4,333	4,410	4,345	3,917	5,930	6,386	6,281	6,317	4,577	4,077	4,151	3,662	2,794	2,321	2,082	2,377	2,586	3,027	3,238	3,233	3,225	2,901	2,571	2,537	2,285	1,928	0	0	0
Marketing and promotions
3,867	4,274	4,101	4,004	3,972	4,020	4,047	3,814	3,383	3,169	3,049	2,749	2,680	2,277	2,321	3,263	3,043	2,703	2,296	918	817	635	476	559	363	368	412	491	623	961	1,171	1,214	1,409	0	0	0
FDIC insurance assessments
2,694	2,660	2,740	2,950	3,075	3,136	3,076	3,028	3,067	3,313	3,573	3,841	3,772	3,553	3,692	3,469	3,504	3,313	2,553	2,036	1,498	1,196	1,172	1,143	1,164	1,035	1,046	1,030	733	1,038	1,247	1,397	1,827	0	0	0
Other real estate owned
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	810	847	936	874	729	666	505	540	1,045	937	899	677	574	671	0	0	0
Core deposit intangible amortization
1,516	1,433	1,350	1,266	1,315	1,363	1,411	1,460	1,508	1,556	1,604	1,652	1,700	1,748	1,796	1,844	1,892	1,764	1,283	802	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Merger related expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	36,918	26,782	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-
FHLBB prepayment penalties
-	-	-	-	-	-	-	-	-	-	1,454	1,454	1,454	1,454	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contribution to Rockville Bank Foundation, Inc.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,043	0	0	0	-	-
Loss on extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-
Other
24,988	25,206	24,474	24,046	23,446	23,823	23,685	23,335	22,816	21,584	22,020	22,366	23,316	23,904	22,855	23,656	21,275	19,551	16,970	12,351	10,477	8,734	9,032	9,389	9,783	9,322	8,590	8,134	7,101	6,699	6,443	5,696	5,484	0	0	0
Total non-interest expense
161,305	160,218	157,767	151,286	147,605	144,564	142,750	139,561	136,535	135,887	134,728	135,985	135,625	131,301	128,195	137,966	141,012	156,832	144,432	116,531	96,372	66,053	62,466	60,319	60,066	58,023	55,696	52,436	48,522	55,415	59,016	57,124	55,920	0	0	0
Income before income taxes
49,161	59,061	61,531	64,955	65,287	67,999	66,661	67,174	64,724	55,914	53,773	48,388	47,805	53,537	55,869	41,282	35,663	15,149	549	7,105	5,069	14,676	19,596	23,810	23,407	23,013	22,432	22,269	22,220	18,193	10,831	9,861	8,858	0	0	0
Provision for income taxes
11,279	2,285	1,625	7,713	9,162	11,320	12,043	7,507	6,089	4,421	4,112	3,375	3,570	5,028	6,229	123	-2,100	-3,711	-6,233	-13	3,316	4,053	5,369	7,015	6,564	6,520	6,635	6,809	7,345	6,224	3,739	3,498	3,114	0	0	0
Net Income (Loss) Attributable to Parent
37,882	56,776	59,906	57,242	56,125	56,679	54,618	59,667	58,635	51,493	49,661	45,013	44,235	48,509	49,640	41,159	37,763	18,860	6,782	7,118	1,753	10,623	14,227	16,795	16,843	16,493	15,797	15,460	14,875	11,969	7,092	6,363	5,744	0	0	0
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