Annual Review 2019

financial summary

consolidated shareholders’ equity

consolidated balance sheets

Assets Cash and Cash Equivalents Bank-Owned Certificates of Deposits

12/31/19

12/31/18

$31,935

$28,444

2,654

3,305

Securities Available for Sale, at Fair Value Loans, Net of Allowance for Loan Losses of $22,526 at December 31, 2019 and $20,031 at December 31, 2018 Federal Home Loan Bank Stock (FHLB), at Cost Premises and Equipment, Net

289,877

253,378

Voting

Non-voting

Voting

Non-voting

Shares

Common Stock

Additional Paid-In Capital

Accumulated Other

Comprehensive Income (Loss) Total

Retained

Earnings

1,884,000 1,640,385 7,824 7,614 27,628 13,074

Balance, December 31, 2016

$

115,366

20,744,001

3,845,860

$

207

$

38 65,777 $

$

52,619 (3,275) $

Accrued Interest Goodwill

6,775 2,626

6,589 2,626 1,052 17,274

368 21,248 180

368

Comprehensive Income Stock-based Compensation Stock Options Exercised Balance, December 31, 2017 Comprehensive Income (Loss) Stock-based Compensation Stock Options Exercised Issuance of Common Stock, Net of Issuance Costs Conversion of Non-voting

16,889

4,359

Other Assets Other Intangible Assets, Net Total Assets

861

90,000

1

179

14,650

$

$

2,268,830

1,973,741

137,162 799 24,074 106

20,834,001

38

3,845,860

208

69,508

66,324 799

1,084

Liabilities Deposits:

26,920

(2,846)

$

Noninterest Bearing Interest Bearing

447,509 1,375,801

369,203 1,191,731

$

37,900

1

105

58,857

5,379,513

54

58,803

Total Deposits

1,823,310 1,560,934

Notes Payable Federal Funds Purchased FHLB Advances Subordinated Debentures, Net of Issuance Costs Accrued Interest Payable Other Liabilities

18,000 15,000 124,000 24,630

Stock to Voting Stock Reclassification of the Income Tax Effects of the Tax Cuts and Jobs Act to Retained Earnings

3,845,860

(3,845,860)

38

(38)

13,000 136,500

(194)

194

24,733 1,982 24,511

1,806 8,373

Balance, December 31, 2018

Total Liabilities

2,024,036

1,752,743

220,998 752 37,745 258 (14,959)

30,097,274

301

96,234

126,031 752

(1,568)

shareholders’ equity

Comprehensive Income Stock-based Compensation Stock Options Exercised Stock Repurchases Issuance of Restricted Stock Awards

31,403

6,342

Preferred Stock, $0.01 Par Value Authorized 10,000,000; None Issued and Outstanding at December 31, 2019 and December 31, 2018

74,850

1

257

(1,331,512)

(13)

(14,946)

132,960

1

(1)

Common Stock, $0.01 Par Value Common Stock - Authorized 75,000,000; Issued and Outstanding 28,973,572 at December 31, 2019 and 30,097,274 at December 31, 2018 Retained Earnings Additional Paid-In Capital Accumulated Other Comprehensive Income (Loss)

Balance, December 31, 2019

290

301

4,774 $ 244,794

$

$

$

$

28,973,572

290

112,093

127,637

$

112,093 127,637

126,031 96,234 (1,568)

4,774

Total Shareholders’ Equity Total liabilities and shareholders’ equity

244,794

220,998

After tax return on equity - 13.50% Earnings Per share - $1.07 diluted earnings per share - $1.05 tangible book value per share - $8.33

2,268,830

1,973,741

$

$

*Dollars in thousands, except share data

*Dollars in thousands, except share data

20

21

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