Slide 1: 2nd Quarter 2015 Earnings Call
2nd Quarter 2015 Earnings Call July 24, 2015
Slide 2: Cautionary Statement Regarding Forward Looking Statements
Cautionary Statement Regarding Forward Looking Statements Statements included in this report which are not historical in nature are intended to be, and are hereby identified as, forward looking statements for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934.
Slide 3: 2nd Quarter 2015 Highlights
Record Operating Earnings of $26.3 million $1.09 per diluted share Operating Return on Average Assets 1.32% Operating Return on Average Tangible Equity 16.9% Cash dividend of $0.25 per common share Net Income of $24.9 million, $1.03 per diluted share 2nd Quarter 2015 Highlights
Slide 4: Highlights: Loan Growth, Deposits and Asset Quality
2nd Quarter 2015 Highlights Net Loan Growth – 6% Annualized Strong Non-Acquired Loan Growth - $202 million, 22% annualized Outpaced Acquired run-off by $84 million Strong Non-Interest Bearing DDA Growth Increased $88 million – 20% annualized Continued Asset Quality improvement NPA’s 0.81% Non-Acquir
Slide 5: Highlights: Margin and Non-Interest Income
2nd Quarter 2015 Highlights Margin down 3 bp to 4.75% Yield on earning assets decline mostly offset by cost of funds decline Non Interest Income : $ 30.1 million vs. $26.5 million linked quarter Fees on Deposit Accounts $ 17.7 Mortgage Banking $ 7.1 Wealth Management $ 5.1 Amortization of $(2.0) FDI
Slide 6: Efficiency Ratio
Efficiency Ratio 75.0% 70.0% 65.0% 60.0% 55.0% 50.0% 71.5% 165.4% 2Q 2014 Efficiency Ratio Endnote 71.0% 69.3% 64.5% 65.1% 65.0% 63.2% 61.2% 3Q 2014 4Q 2014 1Q 2015 2Q 2015 Operating Efficiency Ratio (excluding one-time items) $ Soutn State
Slide 7: Operating Earnings Per Share
Operating Earnings Per Share See Endnotes (3)
Slide 8: Endnotes
Income reduced by amortization of Indemnification Asset and average balance increased for the average loan Indemnification Asset balance Efficiency ratio = NIE / Net Int Inc + Non Int Inc less securities gain/(loss) Operating efficiency ratio = same as above except exc’l one-time items from NIE Excl