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About Union
Income Statement
 
 2013 Y2014 Y2015 Y2016 Y2017 Q2 YTD
Source Document12/31/201512/31/201612/31/201612/31/20166/30/2017
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
Interest and dividend income 
Interest and fees on loans 155,548246,366247,587262,567140,696
Interest on deposits in other banks 176094244186
Interest and dividends on securities 
Taxable 8,20215,22615,60618,3199,905
Nontaxable 8,36013,29313,48413,7907,074
Total interest and dividend income 172,127274,945276,771294,920157,861
Interest expense 
Interest on deposits 14,09711,03415,55317,73111,176
Interest on federal funds purchased 89NANANANA
Interest on short-term borrowings 2655669442,8942,350
Interest on long-term borrowings 6,0508,3278,4409,1458,768
Total interest expense 20,50119,92724,93729,77022,294
Net interest income 151,626255,018251,834265,150135,567
Provision for credit losses 6,0567,8009,5719,1004,295
Net interest income after provision for credit losses 145,570247,218242,263256,050131,272
Noninterest income 
Service charges on deposit accounts 9,49217,72118,90419,4969,792
Other service charges and fees 8,60714,98315,57517,1759,045
Fiduciary and asset management fees 5,1839,0369,14110,1995,519
Mortgage banking income, net 11,9009,7079,76710,9534,818
Gains on securities transactions, net 211,6951,486205598
Other-than-temporary impairment losses 00(300)0NA
Bank owned life insurance income 2,3114,6484,5935,5133,460
Loan-related interest rate swap fees NA2934124,2542,211
Other operating income 1,2143,2045,4293,1121,451
Total noninterest income 38,72861,28765,00770,90736,894
Noninterest expenses 
Salaries and benefits 70,369107,804104,192117,10362,730
Occupancy expenses 11,54320,13620,05319,5289,621
Furniture and equipment expenses 6,88411,87211,67410,4755,323
Printing, postage, and supplies 2,9704,9245,1244,6922,556
Communications expense 2,6814,9024,6343,8501,782
Technology and data processing 7,75412,46513,66715,3687,827
Professional services 3,4195,5946,3098,0853,750
Marketing and advertising expense 4,3126,4067,2157,7844,019
FDIC assessment premiums and other insurance 3,1106,1255,3765,4061,652
Other taxes 3,1815,7846,2275,4564,043
Loan-related expenses 2,4473,4694,0974,7902,610
OREO and credit-related expenses 4,88010,1648,9112,602884
Amortization of intangible assets 3,8319,7958,4457,2103,180
Training and other personnel costs 2,0622,8933,6753,4352,012
Acquisition and conversion costs 2,13220,345002,744
Other expenses 5,4725,5387,2836,9192,592
Total noninterest expenses 137,047238,216216,882222,703117,325
Income before income taxes 47,25170,28990,388104,25450,841
Income tax expense 12,88518,12523,30926,77813,761
Net income 34,36652,16467,07977,47637,080
Basic earnings per common share 1.381.131.491.770.85
Diluted earnings per common share 1.371.131.491.770.85
Dividends declared per common share 0.540.580.680.770.4
Basic weighted average number of common shares outstanding 24,975,07746,036,02345,054,93843,784,19343,674,070
Diluted weighted average number of common shares outstanding 25,030,71146,130,89545,138,89143,890,27143,755,045
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 
Net income 34,36652,16467,07977,47637,080
Other comprehensive income (loss) 
Cash flow hedges 
Change in fair value of cash flow hedges 583(2,393)(1,394)270(807)
Reclassification adjustment for losses (gains) included in net income 524591621508499
AFS securities 
Unrealized holding gains (losses) arising during period (13,367)17,089(3,640)(8,186)8,664
Reclassification adjustment for losses (gains) included in net income (14)(842)(771)(133)(389)
HTM securities 
Reclassification adjustment for accretion of unrealized gain on AFS securities transferred to HTM 00(819)(1,055)(344)
Bank owned life insurance 
Unrealized holding losses arising during period NA00(1,728)NA
Reclassification adjustment for losses included in net income NA00263194
Other comprehensive income (12,274)14,445(6,003)(10,061)7,817
Comprehensive income 22,09266,60961,07667,41544,897


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