Slide 1: 2nd Quarter 2016 Earnings Call
2nd Quarter 2016 Earnings Call July 22, 2016
Slide 2: Forward Looking Statements
Forward Looking Statements Statements included in this communication 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 27A of the Securities Act of 1933 and Section 21E of the Securities
Slide 3: 2nd Quarter 2016 Highlights
2nd Quarter 2016 Highlights ! Net Income $24.5 million • • • $1.01 per diluted share Return on Average Assets 1.13% Return on Average Tangible Equity 14.59% ! Operating Income $28.5 million • • • $1.18 per diluted share Operating Return on Average Assets 1.32% Operating Return on Average Tangible Eq
Slide 4: Highlights: Loan Growth, Deposits and Asset Quality
2nd Quarter 2016 Highlights ! Net Loan Growth – 16.5% Annualized • Strong Non-Acquired Loan Growth - $344 million, 31% annualized Outpaced Acquired run-off by $253 million • ! Non-Interest Bearing DDA Growth • Increased $97 million to over $2.1 billion ! Continued Asset Quality improvement • • NPA’s
Slide 5: Highlights: Non Interest Income
2nd Quarter 2016 Highlights ! Non Interest Income: $ 32.1 million $ $ $ $ $ • • • • • • Fees on Deposit Accounts MortgageBanking Wealth Management Acquired Loan Recoveries Other Income 21.5 5.6 4.9 2.0 2.5 4.4) FDIC Loss-Share Termination ($ 5
Slide 6: Net Interest Margin
Net Interest Margin $85.0 5.00% $80.0 $75.0 $70.0 4.50% 4.29% $65.0 4.24% $60.0 4.00% $55.0 $50.0 3.50% $45.0 2Q 2015 3Q 2015 4Q 2015 1Q 2016 2Q 2016 NIM includes Amortization of Indemnification Asset Net Interest Income includes Amortization of IA Net Interest Margin Net Interest Income In Millions
Slide 7: Average Interest Earning Assets
Average Interest Earning Assets Investment Securities 1 ,021 .6 974.6 (47.0) Loans - NonAcquired 4,330.8 4,623.4 292.6 Loans Held for Sale 33.9 37.6 3.7 7Quarterly Averages Total Interest Earning Assets$ 7,597.1 $ 7,750.2$ 153.1 Total Loans$ 6,066.4 $ 6,268.7$ 202.3 Loans - Acquired1 ,735.61,645.3(9
Slide 8: Efficiency Ratio
Efficiency Ratio 68.0% 65.0% 62.0% 59.0% 56.0% 53.0% 50.0% 2Q 2015 Efficiency Ratio 3Q 2015 4Q 2015 1Q 2016 2Q 2016 Operating Efficiency Ratio (excluding one-time costs) 8 See Endnotes (2) 64.4%64.2%64.1% 64.5% 63.2% 60.8% 61.7% 62.7% 63.2% 61.2%
Slide 9: Earnings Per Diluted Share
Earnings Per Diluted Share $5.00 $4.11 $4.00 $3.00 $2.02 $2.00 $1.00 $-2012 2013 2014 2015 2016 YTD EPS Operating EPS (Non - GAAP) 9 See Endnotes (3) $4.31 $3.75 $2.22 $3.16$3.08 $2.49 $2.38 $2.03