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About Union
Income Statement
 
 2013 Y2014 Y2015 Y2016 Y2017 Q3 YTD
Source Document12/31/201512/31/201612/31/201612/31/20169/30/2017
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
Interest and dividend income 
Interest and fees on loans 155,548246,366247,587262,567216,644
Interest on deposits in other banks 176094244367
Interest and dividends on securities 
Taxable 8,20215,22615,60618,31915,081
Nontaxable 8,36013,29313,48413,79010,620
Total interest and dividend income 172,127274,945276,771294,920242,712
Interest expense 
Interest on deposits 14,09711,03415,55317,73118,410
Interest on federal funds purchased 89NANANANA
Interest on short-term borrowings 2655669442,8944,221
Interest on long-term borrowings 6,0508,3278,4409,14513,316
Total interest expense 20,50119,92724,93729,77035,947
Net interest income 151,626255,018251,834265,150206,765
Provision for credit losses 6,0567,8009,5719,1007,345
Net interest income after provision for credit losses 145,570247,218242,263256,050199,420
Noninterest income 
Service charges on deposit accounts 9,49217,72118,90419,49614,945
Other service charges and fees 8,60714,98315,57517,17513,575
Fiduciary and asset management fees 5,1839,0369,14110,1998,313
Mortgage banking income, net 11,9009,7079,76710,9537,123
Gains on securities transactions, net 211,6951,486205782
Other-than-temporary impairment losses 00(300)0NA
Bank owned life insurance income 2,3114,6484,5935,5134,837
Loan-related interest rate swap fees NA2934124,2542,627
Other operating income 1,2143,2045,4293,1122,228
Total noninterest income 38,72861,28765,00770,90754,430
Noninterest expenses 
Salaries and benefits 70,369107,804104,192117,10392,499
Occupancy expenses 11,54320,13620,05319,52814,560
Furniture and equipment expenses 6,88411,87211,67410,4757,882
Printing, postage, and supplies 2,9704,9245,1244,6923,710
Communications expense 2,6814,9024,6343,8502,580
Technology and data processing 7,75412,46513,66715,36812,059
Professional services 3,4195,5946,3098,0855,734
Marketing and advertising expense 4,3126,4067,2157,7845,963
FDIC assessment premiums and other insurance 3,1106,1255,3765,4062,793
Other taxes 3,1815,7846,2275,4566,065
Loan-related expenses 2,4473,4694,0974,7903,959
OREO and credit-related expenses 4,88010,1648,9112,6022,023
Amortization of intangible assets 3,8319,7958,4457,2104,661
Training and other personnel costs 2,0622,8933,6753,4352,900
Acquisition and conversion costs 2,13220,34500NA
Merger-related costs NANANANA3,476
Other expenses 5,4725,5387,2836,9193,957
Total noninterest expenses 137,047238,216216,882222,703174,821
Income before income taxes 47,25170,28990,388104,25479,029
Income tax expense 12,88518,12523,30926,77821,292
Net income 34,36652,16467,07977,47657,737
Basic earnings per common share 1.381.131.491.771.32
Diluted earnings per common share 1.371.131.491.771.32
Dividends declared per common share 0.540.580.680.770.6
Basic weighted average number of common shares outstanding 24,975,07746,036,02345,054,93843,784,19343,685,045
Diluted weighted average number of common shares outstanding 25,030,71146,130,89545,138,89143,890,27143,767,502
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 
Net income 34,36652,16467,07977,47657,737
Other comprehensive income (loss) 
Cash flow hedges 
Change in fair value of cash flow hedges 583(2,393)(1,394)270(766)
Reclassification adjustment for losses (gains) included in net income 524591621508688
AFS securities 
Unrealized holding gains (losses) arising during period (13,367)17,089(3,640)(8,186)5,935
Reclassification adjustment for losses (gains) included in net income (14)(842)(771)(133)(508)
HTM securities 
Reclassification adjustment for accretion of unrealized gain on AFS securities transferred to HTM 00(819)(1,055)(507)
Bank owned life insurance 
Unrealized holding losses arising during period NA00(1,728)NA
Reclassification adjustment for losses included in net income NA00263278
Other comprehensive income (loss) (12,274)14,445(6,003)(10,061)5,120
Comprehensive income 22,09266,60961,07667,41562,857


Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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Union Bank & Trust
Mailing Address:
P.O. Box 940
Ruther Glen, VA 22546