Capital Bank Financial Corp. (Nasdaq:CBF) (the “Company”) today
reported first quarter net income of $20.9 million, which increased
112% year over year. GAAP net income per diluted share was $0.39.
Core net income increased to $23.9 million, up 42% year over year.
Core net income per diluted share was $0.45. Core pre-tax
adjustments for the first quarter of 2017 included $4.9 million of
acquisition and branch closure expenses, offset by $0.1 million
gain on investment securities.
“With the CommunityOne conversion now behind us,
we are totally focused on high-quality loan and core deposit
growth. Thanks to the consistent focus and efforts of Capital
Bank’s teammates, we’re optimistic about the outlook,” said Gene
Taylor, Chairman and Chief Executive Officer of Capital Bank
Financial Corp.
“In addition to successfully completing the
CommunityOne systems conversion, we’ve put in place new plans to
rationalize excess facilities, which will help us achieve our
stated profitability and return targets,” added Chris Marshall,
Chief Financial Officer of Capital Bank Financial Corp.
Loan Portfolio and Composition
During the first quarter, the loan portfolio
increased by $105.8 million to $7.5 billion. New loans of
$504.8 million were offset by payoffs totaling $379.6 million and
special asset resolutions of $19.4 million.
The relative composition of the Company’s loan
portfolio at the end of the first quarter of 2017 and fourth and
first quarters of 2016 was as follows:
|
|
Mar 31, 2017 |
|
|
Dec 31, 2016 |
|
|
Mar 31, 2016 |
Commercial real estate
|
|
24 |
% |
|
|
23 |
% |
|
|
22 |
% |
C&I |
|
37 |
% |
|
|
38 |
% |
|
|
44 |
% |
Consumer |
|
36 |
% |
|
|
36 |
% |
|
|
32 |
% |
Other |
|
3 |
% |
|
|
3 |
% |
|
|
2 |
% |
Total |
|
100 |
% |
|
|
100 |
% |
|
|
100 |
% |
Deposits Composition and Cost of Funds
During the first quarter, total deposits
increased by $212.0 million to $8.1 billion. The sequential
increase was primarily due to a $90.1 million increase of
non-interest checking balances and an increase of $95.6 million in
money market balances. The cost of total deposits remained flat at
0.39%, while the cost of core deposits increased two basis points
to 0.21%. Core deposits include all checking, savings and
money market accounts, excluding brokered, and represent 73% of
total deposits.
Net Interest Income and Net Interest
Margin
Net interest income increased $4.3 million to
$82.1 million from $77.8 million for the fourth quarter of 2016 and
increased $20.7 million from $61.4 million for the first quarter of
2016. The net interest margin for the first quarter of 2017 was
3.73%, an increase of six basis points sequentially and nine basis
points year over year. The sequential and year over year net
interest margin increase was mainly due to a legacy loan recovery,
which occurred during the first quarter of 2017.
Non-Interest Income
Non-interest income declined $1.2 million to
$15.9 million from $17.0 million for the fourth quarter of 2016 and
increased $13.3 million from $2.6 million for the first quarter of
2016. The sequential decrease was mainly driven by $1.8
million lower investment securities gains. The year over year
increase was mainly due to the absence of a $9.2 million charge for
the termination of loss share agreements in the prior year and an
increase associated with the acquisition of CommunityOne.
Provision for Loan and Lease Losses and Credit
Quality
The provision of $3.4 million recorded for the
first quarter of 2017 included a $3.2 million provision for new and
acquired non-impaired loans and a $186 thousand provision on
acquired impaired loans. Net charge-offs for the first quarter of
2017 were $2.6 million, $0.3 million lower than the fourth quarter
of 2016.
At March 31, 2017, the allowance for loan
and lease losses was $43.9 million, of which $23.2 million related
to acquired impaired loans and $20.7 million related to new and
acquired non-impaired loans. The allowance for loan and lease
losses represents 0.58% of the Company’s total $7.5 billion loan
portfolio.
At March 31, 2017, non-performing loans
were $71.6 million, a decrease of 4.7% from December 31, 2016,
mainly as a result of resolutions and upgrades. Non-performing
loans increased 10.8% from March 31, 2016, due primarily to
the acquisition of CommunityOne.
Non-Interest Expense
Non-interest expense declined $11.3 million to
$62.7 million from $74.0 million for the fourth quarter of 2016 and
increased $15.8 million from $46.9 million for the first quarter of
2016. The sequential decrease was mainly due to a decrease of
$15.5 million in conversion and merger expense and the absence of
$1.4 million legal settlement expenses. Partially offsetting the
decrease was a $3.0 million increase in salaries expense and
benefit expense and $1.9 million in restructuring charges. The year
over year increase was mainly due to an increase of $7.0 million in
salaries and benefit expense, $1.8 million in restructuring
charges, $1.4 million in conversion and merger expense and $1.3
million in occupancy expense, mostly related to the acquisition of
CommunityOne.
Income Tax Expense
Income tax expense was $11.0 million for the
first quarter of 2017, an effective rate of 34%, compared to $6.4
million and 34% for the fourth quarter of 2016. Income tax expense
was $5.8 million and an effective tax rate of 37% for the first
quarter of 2016. The year-over-year decrease in effective income
tax rate is due to lower state income taxes, higher tax exempt
interest income and other favorable adjustments.
Financial Position
Total assets increased by $167.4 million to
$10.1 billion as of March 31, 2017, from $9.9 billion as of
December 31, 2016. During the quarter, the Company’s loan
portfolio increased $105.8 million to $7.5 billion. Total
deposits increased by $212.0 million to $8.1 billion, and core
deposits increased by $214.6 million, or a 15% annualized rate.
FHLB borrowings decreased $55.1 million. Book value per share was
$25.17 as of March 31, 2017, an increase of $0.21 and $2.09
over December 31, 2016 and March 31, 2016, respectively.
Tangible book value per share was $20.29 as of March 31, 2017,
an increase of $0.28 and $0.52 over December 31, 2016 and
March 31, 2016, respectively. During the first quarter, the
Company did not repurchase shares of common stock. The Company has
$88 million remaining under the current board authorized stock
repurchase program.
The Company declared a cash dividend of $0.12
per share, payable on May 19, 2017, to shareholders of record as of
May 5, 2017.
Conference Call
The Company will host a conference call today at
10:00 a.m. Eastern Time. The number to call for this
interactive teleconference is (913) 312-0654, and the confirmation
pass code is 7115841. Please dial in 10 minutes prior to the
beginning of the call. A telephonic replay of the conference call
will be available through April 28, 2017, by dialing (719) 457-0820
and entering pass code 7115841. The live broadcast of the
conference call will be available online at the Company’s web site
at www.capitalbank-us.com, by following the link to Investor
Relations. An on-line replay of the call will be available at the
same site for 90 days.
Forward-Looking Statements
Information in this press release contains
forward-looking statements. Any statements about our
expectations, beliefs, plans, predictions, forecasts, objectives,
assumptions or future events or performance are not historical
facts and may be forward-looking. These statements are often,
but not always, made through the use of words or phrases such as
“anticipate,” “believes,” “can,” “could,” “may,” “predicts,”
“potential,” “should,” “will,” “estimate,” “plans,” “projects,”
“continuing,” “ongoing,” “expects,” “intends” and similar words or
phrases. Accordingly, these statements are only predictions
and involve estimates, known and unknown risks, assumptions and
uncertainties that could cause actual results to differ materially
from those expressed in them. Our actual results could differ
materially from those anticipated in such forward-looking
statements as a result of several factors more fully described
under the caption “Risk Factors” in the annual report on Form 10-K
and other periodic reports filed by us with the Securities and
Exchange Commission. Any or all of our forward-looking
statements in this press release may turn out to be
inaccurate. The inclusion of this forward-looking information
should not be regarded as a representation by us or any other
person that the future plans, estimates or expectations
contemplated by us will be achieved. We have based these
forward-looking statements largely on our current expectations and
projections about future events and financial trends that we
believe may affect our financial condition, results of operations,
business strategy and financial needs. There are important
factors that could cause our actual results, level of activity,
performance or achievements to differ materially from the results,
level of activity, performance or achievements expressed or implied
by the forward looking statements including, but not limited to:
(1) changes in general economic and financial market conditions;
(2) changes in the regulatory environment; (3) economic conditions
generally and in the financial services industry; (4) changes in
the economy affecting real estate values; (5) our ability to
achieve loan and deposit growth; (6) the completion of future
acquisitions or business combinations and our ability to integrate
any acquired businesses into our business model; (7) projected
population and income growth in our targeted market areas; (8)
competitive pressures in our markets and industry; (9) our ability
to attract and retain key personnel; (10) changes in accounting
policies or judgments and (11) volatility and direction of market
interest rates and a weakening of the economy which could
materially impact credit quality trends and the ability to generate
loans. All forward-looking statements are necessarily only
estimates of future results, and actual results may differ
materially from expectations. You are, therefore, cautioned
not to place undue reliance on such statements, which should be
read in conjunction with the other cautionary statements that are
included elsewhere in this press release. Further, any
forward-looking statement speaks only as of the date on which it is
made, and we undertake no obligation to update or revise any
forward-looking statement to reflect events or circumstances after
the date on which the statement is made or to reflect the
occurrence of unanticipated events.
Use of Non-GAAP Financial
Measures
Core net income, core efficiency ratio, core
return-on-assets (“core ROA”), tangible book value and tangible
book value per share are each non-GAAP measures used in this
report. A reconciliation to the most directly comparable
GAAP financial measures – net income in the case of core net income
and core ROA, total non-interest income and total non-interest
expense in the case of core efficiency ratio, and total
shareholders’ equity in the case of tangible book value and
tangible book value per share – appears in tabular form at the end
of this release. The Company believes core net income,
the core efficiency ratio and core ROA are useful for both
investors and management to understand the effects of certain
non-interest items and provide an alternative view of the Company’s
performance over time and in comparison to the Company’s
competitors. These measures should not be viewed as a substitute
for net income. The Company believes that tangible book
value and tangible book value per share are useful for both
investors and management as these are measures commonly used by
financial institutions, regulators and investors to measure the
capital adequacy of financial institutions. The Company
believes these measures facilitate comparison of the quality and
composition of the Company’s capital over time and in comparison to
its competitors. These measures should not be viewed as a
substitute for the most directly comparable GAAP measure.
The Company uses these non-GAAP measures for
various purposes, including measuring performance for incentive
compensation and as a basis for strategic planning and
forecasting.
These non-GAAP measures have inherent
limitations, are not required to be uniformly applied and are not
audited. They should not be considered in isolation or
as a substitute for analysis of results reported under
GAAP. These non-GAAP measures may not be comparable to
similarly titled measures reported by other companies.
About Capital Bank Financial
Corp.
Capital Bank Financial Corp. is a bank holding
company, formed in 2009 to create a premier regional banking
franchise in the southeastern United States. CBF is the parent of
Capital Bank Corporation, a State of North Carolina chartered
financial institution with $10.1 billion in total assets as of
March 31, 2017, and 193 full-service banking offices
throughout Florida, North and South Carolina, Tennessee and
Virginia. To learn more about Capital Bank Financial Corp, please
visit www.capitalbank-us.com.
|
CAPITAL BANK FINANCIAL CORP. |
CONSOLIDATED STATEMENTS OF
INCOME |
(Dollars and shares in thousands, except per
share data) |
(Unaudited) |
|
|
Three Months Ended |
|
Mar 31, 2017 |
|
Dec 31, 2016 |
|
Sep 30, 2016 |
|
Jun 30, 2016 |
|
Mar 31, 2016 |
Interest and dividend
income |
$ |
92,937 |
|
|
$ |
87,746 |
|
|
$ |
70,929 |
|
|
$ |
69,579 |
|
|
$ |
69,472 |
|
Interest expense |
10,821 |
|
|
9,927 |
|
|
8,302 |
|
|
8,064 |
|
|
8,105 |
|
Net Interest
Income |
82,116 |
|
|
77,819 |
|
|
62,627 |
|
|
61,515 |
|
|
61,367 |
|
Provision for loan and
lease losses |
3,392 |
|
|
1,980 |
|
|
586 |
|
|
1,172 |
|
|
1,375 |
|
Net interest income
after provision for loan and lease losses
|
78,724 |
|
|
75,839 |
|
|
62,041 |
|
|
60,343 |
|
|
59,992 |
|
Non-Interest
Income |
|
|
|
|
|
|
|
|
|
Service charges on
deposit accounts |
5,375 |
|
|
5,949 |
|
|
4,777 |
|
|
4,486 |
|
|
4,811 |
|
Debit card income |
4,765 |
|
|
4,211 |
|
|
3,389 |
|
|
3,235 |
|
|
3,086 |
|
Fees on mortgage loans
originated and sold |
1,248 |
|
|
1,402 |
|
|
1,334 |
|
|
1,140 |
|
|
971 |
|
Investment advisory and
trust fees |
641 |
|
|
591 |
|
|
290 |
|
|
455 |
|
|
497 |
|
Termination of loss
share agreements |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(9,178 |
) |
Investment securities
gains (losses), net |
67 |
|
|
1,894 |
|
|
71 |
|
|
117 |
|
|
40 |
|
Other income |
3,756 |
|
|
2,969 |
|
|
2,509 |
|
|
2,489 |
|
|
2,339 |
|
Total non-interest
income |
15,852 |
|
|
17,016 |
|
|
12,370 |
|
|
11,922 |
|
|
2,566 |
|
Non-Interest
Expense |
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits |
29,166 |
|
|
26,134 |
|
|
20,935 |
|
|
20,139 |
|
|
22,162 |
|
Stock-based
compensation expense |
900 |
|
|
531 |
|
|
790 |
|
|
467 |
|
|
317 |
|
Net occupancy and
equipment expense |
8,992 |
|
|
8,374 |
|
|
7,340 |
|
|
7,355 |
|
|
7,703 |
|
Computer services |
3,873 |
|
|
4,364 |
|
|
3,153 |
|
|
3,274 |
|
|
3,575 |
|
Software expense |
2,662 |
|
|
2,391 |
|
|
1,948 |
|
|
2,000 |
|
|
2,036 |
|
Telecommunication
expense |
2,424 |
|
|
2,147 |
|
|
1,790 |
|
|
1,558 |
|
|
1,532 |
|
OREO valuation
expense |
247 |
|
|
677 |
|
|
742 |
|
|
1,119 |
|
|
467 |
|
Net gains on sales of
OREO |
(308 |
) |
|
(150 |
) |
|
(159 |
) |
|
(413 |
) |
|
(679 |
) |
Foreclosed asset
related expense |
364 |
|
|
513 |
|
|
397 |
|
|
399 |
|
|
285 |
|
Loan workout
expense |
201 |
|
|
327 |
|
|
206 |
|
|
71 |
|
|
244 |
|
Conversion and merger
related expense |
3,037 |
|
|
18,525 |
|
|
394 |
|
|
1,236 |
|
|
1,687 |
|
Professional fees |
2,096 |
|
|
1,761 |
|
|
1,642 |
|
|
1,353 |
|
|
1,612 |
|
Restructuring charges,
net |
1,912 |
|
|
4 |
|
|
(113 |
) |
|
5 |
|
|
142 |
|
Legal settlement
expense |
— |
|
|
1,361 |
|
|
1,500 |
|
|
— |
|
|
— |
|
Regulatory
assessments |
719 |
|
|
1,092 |
|
|
841 |
|
|
1,259 |
|
|
1,275 |
|
Other expense |
6,418 |
|
|
5,943 |
|
|
6,124 |
|
|
4,714 |
|
|
4,580 |
|
Total non-interest
expense |
62,703 |
|
|
73,994 |
|
|
47,530 |
|
|
44,536 |
|
|
46,938 |
|
Income before income
taxes |
31,873 |
|
|
18,861 |
|
|
26,881 |
|
|
27,729 |
|
|
15,620 |
|
Income tax expense |
10,990 |
|
|
6,427 |
|
|
8,393 |
|
|
10,327 |
|
|
5,780 |
|
Net
income |
$ |
20,883 |
|
|
$ |
12,434 |
|
|
$ |
18,488 |
|
|
$ |
17,402 |
|
|
$ |
9,840 |
|
|
|
|
|
|
|
|
|
|
|
Earnings per
share: |
|
|
|
|
|
|
|
|
|
Basic |
$ |
0.40 |
|
|
$ |
0.25 |
|
|
$ |
0.43 |
|
|
$ |
0.40 |
|
|
$ |
0.23 |
|
Diluted |
$ |
0.39 |
|
|
$ |
0.24 |
|
|
$ |
0.42 |
|
|
$ |
0.40 |
|
|
$ |
0.22 |
|
|
|
|
|
|
|
|
|
|
|
Weighted
average shares outstanding: |
|
|
|
|
|
|
|
|
|
Basic |
51,634 |
|
|
49,334 |
|
|
43,028 |
|
|
43,011 |
|
|
43,063 |
|
Diluted |
53,127 |
|
|
50,387 |
|
|
43,909 |
|
|
43,879 |
|
|
43,904 |
|
|
CAPITAL BANK FINANCIAL CORP. |
CONSOLIDATED BALANCE SHEETS |
(Dollars and shares in
thousands) |
(Unaudited) |
|
|
Mar 31, 2017 |
|
Dec 31, 2016 |
|
Mar 31, 2016 |
Assets |
|
|
|
|
|
Cash and due from
banks |
$ |
100,134 |
|
|
$ |
107,707 |
|
|
$ |
88,802 |
|
Interest-bearing
deposits in other banks |
60,413 |
|
|
201,348 |
|
|
93,218 |
|
Total cash and cash
equivalents |
160,547 |
|
|
309,055 |
|
|
182,020 |
|
Trading securities |
4,150 |
|
|
3,791 |
|
|
3,418 |
|
Investment securities
available-for-sale at fair value (amortized cost $1,168,995
$927,266 and $657,631, respectively) |
1,154,496 |
|
|
912,250 |
|
|
663,925 |
|
Investment securities
held-to-maturity at amortized cost (fair value $445,696 $460,911
and $467,372, respectively) |
446,020 |
|
|
463,959 |
|
|
460,483 |
|
Loans held for
sale |
4,980 |
|
|
12,874 |
|
|
8,070 |
|
Loans, net of deferred
loan costs and fees |
7,506,975 |
|
|
7,393,318 |
|
|
5,626,887 |
|
Less: Allowance for
loan and lease losses |
43,891 |
|
|
43,065 |
|
|
45,263 |
|
Loans,
net |
7,463,084 |
|
|
7,350,253 |
|
|
5,581,624 |
|
Other real estate
owned |
51,050 |
|
|
53,482 |
|
|
48,505 |
|
Premises and equipment,
net |
199,167 |
|
|
205,425 |
|
|
157,131 |
|
Goodwill |
234,158 |
|
|
235,500 |
|
|
134,522 |
|
Intangible assets,
net |
31,553 |
|
|
33,370 |
|
|
14,166 |
|
Deferred income tax
asset, net |
146,724 |
|
|
150,272 |
|
|
95,363 |
|
Bank owned life
insurance |
100,251 |
|
|
99,703 |
|
|
56,425 |
|
Other assets |
101,862 |
|
|
100,723 |
|
|
74,146 |
|
Total
Assets |
$ |
10,098,042 |
|
|
$ |
9,930,657 |
|
|
$ |
7,479,798 |
|
Liabilities and
Shareholders’ Equity |
|
|
|
|
|
Liabilities |
|
|
|
|
|
Deposits: |
|
|
|
|
|
Non-interest bearing demand |
$ |
1,680,243 |
|
|
$ |
1,590,164 |
|
|
$ |
1,190,831 |
|
Interest
bearing demand |
1,960,187 |
|
|
1,930,143 |
|
|
1,402,342 |
|
Money
market |
1,821,474 |
|
|
1,725,838 |
|
|
1,262,581 |
|
Savings |
496,230 |
|
|
497,171 |
|
|
420,073 |
|
Time
deposits |
2,134,473 |
|
|
2,137,312 |
|
|
1,663,906 |
|
Total deposits |
8,092,607 |
|
|
7,880,628 |
|
|
5,939,733 |
|
Federal Home Loan Bank
advances |
490,650 |
|
|
545,701 |
|
|
400,849 |
|
Short-term
borrowings |
21,125 |
|
|
19,157 |
|
|
16,200 |
|
Long-term
borrowings |
117,272 |
|
|
116,456 |
|
|
86,328 |
|
Accrued expenses and
other liabilities |
68,457 |
|
|
76,668 |
|
|
39,695 |
|
Total
liabilities |
$ |
8,790,111 |
|
|
$ |
8,638,610 |
|
|
$ |
6,482,805 |
|
Shareholders’
equity |
|
|
|
|
|
Preferred stock $0.01
par value: 50,000 shares authorized, 0 shares issued |
— |
|
|
— |
|
|
— |
|
Common stock-Class A
$0.01 par value: 200,000 shares authorized, 46,479 issued and
35,213 outstanding, 46,178 issued 34,911 outstanding and 37,207
issued and 26,636 outstanding, respectively. |
465 |
|
|
462 |
|
|
372 |
|
Common stock-Class B
$0.01 par value: 200,000 shares authorized, 18,527 issued and
16,753 outstanding, 18,627 issued and 16,854 outstanding and 18,327
issued and 16,554 outstanding, respectively. |
185 |
|
|
186 |
|
|
183 |
|
Additional paid in
capital |
1,369,689 |
|
|
1,368,459 |
|
|
1,076,931 |
|
Retained earnings |
262,443 |
|
|
247,758 |
|
|
214,268 |
|
Accumulated other
comprehensive (loss) gain |
(12,467 |
) |
|
(12,434 |
) |
|
3,878 |
|
Treasury stock, at
cost, 13,040, 13,040 and 12,345 shares, respectively |
(312,384 |
) |
|
(312,384 |
) |
|
(298,639 |
) |
Total shareholders’
equity |
1,307,931 |
|
|
1,292,047 |
|
|
996,993 |
|
Total
Liabilities and Shareholders’ Equity |
$ |
10,098,042 |
|
|
$ |
9,930,657 |
|
|
$ |
7,479,798 |
|
|
CAPITAL BANK FINANCIAL CORP. |
KEY METRICS |
(Dollars in thousands) |
(Unaudited) |
|
|
Three Months Ended |
|
Mar 31, 2017 |
|
Dec 31, 2016 |
|
Sep 30, 2016 |
|
Jun 30, 2016 |
|
Mar 31, 2016 |
Performance
Ratios |
|
|
|
|
|
|
|
|
|
Interest
rate spread |
3.58 |
% |
|
3.53 |
% |
|
3.43 |
% |
|
3.48 |
% |
|
3.50 |
% |
Net
interest margin |
3.73 |
% |
|
3.67 |
% |
|
3.58 |
% |
|
3.62 |
% |
|
3.64 |
% |
Return on
average assets |
0.84 |
% |
|
0.53 |
% |
|
0.97 |
% |
|
0.93 |
% |
|
0.53 |
% |
Return on
average shareholders’ equity |
6.43 |
% |
|
4.05 |
% |
|
7.24 |
% |
|
6.87 |
% |
|
3.96 |
% |
Efficiency ratio |
64.00 |
% |
|
78.02 |
% |
|
63.38 |
% |
|
60.65 |
% |
|
73.42 |
% |
Average
interest-earning assets to average interest-bearing
liabilities |
129.53 |
% |
|
130.22 |
% |
|
131.43 |
% |
|
131.21 |
% |
|
129.54 |
% |
Average
loans receivable to average deposits |
93.41 |
% |
|
94.57 |
% |
|
98.46 |
% |
|
96.56 |
% |
|
95.66 |
% |
Yield on
interest-earning assets |
4.21 |
% |
|
4.13 |
% |
|
4.05 |
% |
|
4.09 |
% |
|
4.11 |
% |
Cost of
interest-bearing liabilities |
0.63 |
% |
|
0.61 |
% |
|
0.62 |
% |
|
0.62 |
% |
|
0.62 |
% |
Asset and
Credit Quality Ratios-Total Loans |
|
|
|
|
|
|
|
|
|
Non-accrual loans |
$ |
13,608 |
|
|
$ |
11,449 |
|
|
$ |
11,873 |
|
|
$ |
9,016 |
|
|
$ |
8,526 |
|
Acquired
impaired loans > 90 days past due and still accruing |
$ |
57,969 |
|
|
$ |
63,668 |
|
|
$ |
48,477 |
|
|
$ |
56,108 |
|
|
$ |
56,041 |
|
Nonperforming loans to loans receivable |
0.95 |
% |
|
1.01 |
% |
|
1.02 |
% |
|
1.13 |
% |
|
1.15 |
% |
Nonperforming assets to total assets |
1.22 |
% |
|
1.30 |
% |
|
1.37 |
% |
|
1.44 |
% |
|
1.51 |
% |
ALLL to
nonperforming assets |
35.73 |
% |
|
33.45 |
% |
|
41.29 |
% |
|
40.98 |
% |
|
39.97 |
% |
ALLL to
total gross loans |
0.58 |
% |
|
0.58 |
% |
|
0.75 |
% |
|
0.78 |
% |
|
0.80 |
% |
Annualized net charge-offs/average loans |
0.14 |
% |
|
0.17 |
% |
|
0.10 |
% |
|
0.11 |
% |
|
0.08 |
% |
Asset and
Credit Quality Ratios-Non Acquired Loans |
|
|
|
|
|
|
|
|
|
Nonperforming non acquired loans to total non acquired loans
receivable |
0.21 |
% |
|
0.18 |
% |
|
0.19 |
% |
|
0.12 |
% |
|
0.11 |
% |
Non
acquired loans ALLL to total gross non acquired loans
receivable |
0.40 |
% |
|
0.41 |
% |
|
0.43 |
% |
|
0.46 |
% |
|
0.47 |
% |
Asset and
Credit Quality Ratios-Acquired Loans |
|
|
|
|
|
|
|
|
|
Nonperforming acquired loans to total acquired loans
receivable |
2.55 |
% |
|
2.66 |
% |
|
4.65 |
% |
|
5.08 |
% |
|
4.67 |
% |
Acquired
loans ALLL to total gross acquired loans |
0.98 |
% |
|
0.93 |
% |
|
2.15 |
% |
|
2.04 |
% |
|
1.93 |
% |
Capital Ratios
(Company) (1) |
|
|
|
|
|
|
|
|
|
Total
average shareholders’ equity to total average assets |
13.11 |
% |
|
13.15 |
% |
|
13.46 |
% |
|
13.55 |
% |
|
13.35 |
% |
Tangible
common equity ratio (2) |
10.60 |
% |
|
10.59 |
% |
|
11.55 |
% |
|
11.62 |
% |
|
11.57 |
% |
Tier 1
leverage capital ratio |
11.63 |
% |
|
12.22 |
% |
|
12.89 |
% |
|
12.64 |
% |
|
12.49 |
% |
Tier 1
common capital ratio |
12.18 |
% |
|
12.40 |
% |
|
13.27 |
% |
|
13.38 |
% |
|
13.38 |
% |
Tier 1
risk-based capital ratio |
13.43 |
% |
|
13.49 |
% |
|
14.44 |
% |
|
14.57 |
% |
|
14.58 |
% |
Total
risk-based capital ratio |
13.96 |
% |
|
14.02 |
% |
|
15.12 |
% |
|
15.29 |
% |
|
15.32 |
% |
Capital Ratios
(Bank) (1) |
|
|
|
|
|
|
|
|
|
Tangible
common equity ratio (2) |
11.03 |
% |
|
11.07 |
% |
|
10.74 |
% |
|
10.71 |
% |
|
11.45 |
% |
Tier 1
leverage capital ratio |
10.67 |
% |
|
11.23 |
% |
|
10.53 |
% |
|
10.42 |
% |
|
11.10 |
% |
Tier 1
common capital ratio |
12.32 |
% |
|
12.39 |
% |
|
11.98 |
% |
|
11.97 |
% |
|
12.95 |
% |
Tier 1
risk-based capital ratio |
12.32 |
% |
|
12.39 |
% |
|
11.98 |
% |
|
11.97 |
% |
|
12.95 |
% |
Total
risk-based capital ratio |
12.86 |
% |
|
12.93 |
% |
|
12.70 |
% |
|
12.72 |
% |
|
13.72 |
% |
(1) Capital Ratios are preliminary(2) See “Reconciliation of
Non-GAAP Measures”
|
CAPITAL BANK FINANCIAL CORP. |
LOANS AND DEPOSITS |
(Dollars in thousands) |
(Unaudited) |
|
|
Mar 31, 2017 |
|
Dec 31, 2016 |
|
Sep 30, 2016 |
|
Jun 30, 2016 |
|
Mar 31, 2016 |
Loans |
|
|
|
|
|
|
|
|
|
Non-owner occupied
commercial real estate
|
$ |
1,187,344 |
|
|
$ |
1,130,883 |
|
|
$ |
920,521 |
|
|
$ |
891,830 |
|
|
$ |
850,766 |
|
Other commercial
construction and land |
350,401 |
|
|
327,622 |
|
|
222,794 |
|
|
212,315 |
|
|
194,971 |
|
Multifamily commercial
real estate |
115,996 |
|
|
117,515 |
|
|
76,296 |
|
|
74,328 |
|
|
75,737 |
|
1-4 family residential
construction and land |
157,920 |
|
|
140,030 |
|
|
111,954 |
|
|
100,306 |
|
|
96,703 |
|
Total
commercial real estate |
1,811,661 |
|
|
1,716,050 |
|
|
1,331,565 |
|
|
1,278,779 |
|
|
1,218,177 |
|
Owner occupied
commercial real estate |
1,313,086 |
|
|
1,321,405 |
|
|
1,072,586 |
|
|
1,075,306 |
|
|
1,095,460 |
|
Commercial and
industrial |
1,443,828 |
|
|
1,468,874 |
|
|
1,458,523 |
|
|
1,448,698 |
|
|
1,375,233 |
|
Lease financing |
— |
|
|
— |
|
|
525 |
|
|
877 |
|
|
1,088 |
|
Total
commercial |
2,756,914 |
|
|
2,790,279 |
|
|
2,531,634 |
|
|
2,524,881 |
|
|
2,471,781 |
|
1-4 family
residential |
1,787,097 |
|
|
1,714,702 |
|
|
1,168,468 |
|
|
1,039,309 |
|
|
1,015,071 |
|
Home equity loans |
502,099 |
|
|
507,759 |
|
|
364,117 |
|
|
364,169 |
|
|
368,510 |
|
Indirect auto
loans |
199,951 |
|
|
226,717 |
|
|
254,736 |
|
|
285,618 |
|
|
317,863 |
|
Other consumer
loans |
222,824 |
|
|
222,255 |
|
|
94,277 |
|
|
85,964 |
|
|
84,108 |
|
Total
consumer |
2,711,971 |
|
|
2,671,433 |
|
|
1,881,598 |
|
|
1,775,060 |
|
|
1,785,552 |
|
Other |
231,409 |
|
|
228,430 |
|
|
191,136 |
|
|
166,185 |
|
|
159,447 |
|
Total
loans |
$ |
7,511,955 |
|
|
$ |
7,406,192 |
|
|
$ |
5,935,933 |
|
|
$ |
5,744,905 |
|
|
$ |
5,634,957 |
|
|
|
|
|
|
|
|
|
|
|
Deposits |
|
|
|
|
|
|
|
|
|
Non-interest bearing
demand |
$ |
1,680,243 |
|
|
$ |
1,590,164 |
|
|
$ |
1,207,800 |
|
|
$ |
1,172,481 |
|
|
$ |
1,190,831 |
|
Interest bearing
demand |
1,960,187 |
|
|
1,930,143 |
|
|
1,463,520 |
|
|
1,456,558 |
|
|
1,402,342 |
|
Money market |
1,746,444 |
|
|
1,651,023 |
|
|
1,166,918 |
|
|
1,105,460 |
|
|
1,162,546 |
|
Savings |
496,230 |
|
|
497,171 |
|
|
401,205 |
|
|
403,106 |
|
|
420,073 |
|
Total core
deposits |
5,883,104 |
|
|
5,668,501 |
|
|
4,239,443 |
|
|
4,137,605 |
|
|
4,175,792 |
|
Wholesale money
market |
75,030 |
|
|
74,815 |
|
|
125,030 |
|
|
50,015 |
|
|
100,035 |
|
Time deposits |
2,134,473 |
|
|
2,137,312 |
|
|
1,668,784 |
|
|
1,619,507 |
|
|
1,663,906 |
|
Total
deposits |
$ |
8,092,607 |
|
|
$ |
7,880,628 |
|
|
$ |
6,033,257 |
|
|
$ |
5,807,127 |
|
|
$ |
5,939,733 |
|
|
CAPITAL BANK FINANCIAL CORP. |
QUARTERLY AVERAGE BALANCES AND
YIELDS |
(Dollars in thousands) |
(Unaudited) |
|
|
|
Three Months Ended March 31,
2017 |
|
Three Months Ended December 31,
2016 |
|
|
Average Balances |
|
Interest |
|
Yield / Rate |
|
Average Balances |
|
Interest |
|
Yield / Rate |
Interest earning
assets |
|
|
|
|
|
|
|
|
|
|
|
|
Loans
(1) |
|
$ |
7,409,284 |
|
|
$ |
83,753 |
|
|
4.58 |
% |
|
$ |
6,977,690 |
|
|
$ |
79,690 |
|
|
4.54 |
% |
Investment securities (1) |
|
1,501,816 |
|
|
9,312 |
|
|
2.51 |
% |
|
1,347,554 |
|
|
8,065 |
|
|
2.38 |
% |
Interest
bearing deposits in other banks |
|
58,269 |
|
|
97 |
|
|
0.68 |
% |
|
143,446 |
|
|
166 |
|
|
0.46 |
% |
Other
earning assets (2) |
|
29,053 |
|
|
357 |
|
|
4.98 |
% |
|
30,904 |
|
|
382 |
|
|
4.92 |
% |
Total interest earning
assets |
|
8,998,422 |
|
|
$ |
93,519 |
|
|
4.21 |
% |
|
8,499,594 |
|
|
$ |
88,303 |
|
|
4.13 |
% |
Non-interest earning
assets |
|
909,138 |
|
|
|
|
|
|
829,740 |
|
|
|
|
|
Total assets |
|
$ |
9,907,560 |
|
|
|
|
|
|
$ |
9,329,334 |
|
|
|
|
|
Interest bearing
liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Time
deposits |
|
$ |
2,141,806 |
|
|
$ |
4,539 |
|
|
0.86 |
% |
|
$ |
2,049,066 |
|
|
$ |
4,526 |
|
|
0.88 |
% |
Money
market |
|
1,777,343 |
|
|
1,756 |
|
|
0.40 |
% |
|
1,601,167 |
|
|
1,498 |
|
|
0.37 |
% |
Interest
bearing demand |
|
1,922,687 |
|
|
1,138 |
|
|
0.24 |
% |
|
1,748,269 |
|
|
935 |
|
|
0.21 |
% |
Savings |
|
494,538 |
|
|
220 |
|
|
0.18 |
% |
|
471,466 |
|
|
219 |
|
|
0.18 |
% |
Total interest bearing
deposits |
|
6,336,374 |
|
|
7,653 |
|
|
0.49 |
% |
|
5,869,968 |
|
|
7,178 |
|
|
0.49 |
% |
Short-term borrowings
and FHLB advances |
|
493,643 |
|
|
887 |
|
|
0.73 |
% |
|
548,667 |
|
|
662 |
|
|
0.48 |
% |
Long-term
borrowings |
|
116,744 |
|
|
2,281 |
|
|
7.92 |
% |
|
108,276 |
|
|
2,087 |
|
|
7.67 |
% |
Total interest bearing
liabilities |
|
6,946,761 |
|
|
10,821 |
|
|
0.63 |
% |
|
6,526,911 |
|
|
9,927 |
|
|
0.61 |
% |
Non-interest bearing
demand |
|
1,595,695 |
|
|
|
|
|
|
1,508,496 |
|
|
|
|
|
Other liabilities |
|
65,753 |
|
|
|
|
|
|
66,710 |
|
|
|
|
|
Shareholders’
equity |
|
1,299,351 |
|
|
|
|
|
|
1,227,217 |
|
|
|
|
|
Total liabilities and
shareholders’ equity |
|
$ |
9,907,560 |
|
|
|
|
|
|
$ |
9,329,334 |
|
|
|
|
|
Net interest income and
spread |
|
|
|
$ |
82,698 |
|
|
3.58 |
% |
|
|
|
$ |
78,376 |
|
|
3.53 |
% |
Net interest
margin |
|
|
|
|
|
3.73 |
% |
|
|
|
|
|
3.67 |
% |
(1) Presented on a fully tax equivalent basis(2) Includes
Federal Home Loan Bank stocks
|
CAPITAL BANK FINANCIAL CORP. |
QUARTERLY AVERAGE BALANCES AND
YIELDS |
(Dollars in thousands) |
(Unaudited) |
|
|
|
Three Months Ended March 31,
2017 |
|
Three Months Ended March 31,
2016 |
|
|
Average Balances |
|
Interest |
|
Yield / Rate |
|
Average Balances |
|
Interest |
|
Yield / Rate |
Interest earning
assets |
|
|
|
|
|
|
|
|
|
|
|
|
Loans
(1) |
|
$ |
7,409,284 |
|
|
$ |
83,753 |
|
|
4.58 |
% |
|
$ |
5,611,488 |
|
|
$ |
63,009 |
|
|
4.52 |
% |
Investment securities (1) |
|
1,501,816 |
|
|
9,312 |
|
|
2.51 |
% |
|
1,122,523 |
|
|
6,483 |
|
|
2.32 |
% |
Interest
bearing deposits in other banks
|
|
58,269 |
|
|
97 |
|
|
0.68 |
% |
|
73,188 |
|
|
84 |
|
|
0.46 |
% |
Other
earning assets (2) |
|
29,053 |
|
|
357 |
|
|
4.98 |
% |
|
25,136 |
|
|
315 |
|
|
5.04 |
% |
Total interest earning
assets |
|
8,998,422 |
|
|
$ |
93,519 |
|
|
4.21 |
% |
|
6,832,335 |
|
|
$ |
69,891 |
|
|
4.11 |
% |
Non-interest earning
assets |
|
909,138 |
|
|
|
|
|
|
618,087 |
|
|
|
|
|
Total assets |
|
$ |
9,907,560 |
|
|
|
|
|
|
$ |
7,450,422 |
|
|
|
|
|
Interest bearing
liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Time
deposits |
|
$ |
2,141,806 |
|
|
$ |
4,539 |
|
|
0.86 |
% |
|
$ |
1,689,653 |
|
|
$ |
4,120 |
|
|
0.98 |
% |
Money
market |
|
1,777,343 |
|
|
1,756 |
|
|
0.40 |
% |
|
1,247,333 |
|
|
1,067 |
|
|
0.34 |
% |
Interest
bearing demand |
|
1,922,687 |
|
|
1,138 |
|
|
0.24 |
% |
|
1,370,957 |
|
|
648 |
|
|
0.19 |
% |
Savings |
|
494,538 |
|
|
220 |
|
|
0.18 |
% |
|
419,588 |
|
|
227 |
|
|
0.22 |
% |
Total interest bearing
deposits |
|
6,336,374 |
|
|
7,653 |
|
|
0.49 |
% |
|
4,727,531 |
|
|
6,062 |
|
|
0.52 |
% |
Short-term borrowings
and FHLB advances |
|
493,643 |
|
|
887 |
|
|
0.73 |
% |
|
460,892 |
|
|
532 |
|
|
0.46 |
% |
Long-term
borrowings |
|
116,744 |
|
|
2,281 |
|
|
7.92 |
% |
|
85,986 |
|
|
1,511 |
|
|
7.07 |
% |
Total interest bearing
liabilities |
|
6,946,761 |
|
|
10,821 |
|
|
0.63 |
% |
|
5,274,409 |
|
|
8,105 |
|
|
0.62 |
% |
Non-interest bearing
demand |
|
1,595,695 |
|
|
|
|
|
|
1,138,782 |
|
|
|
|
|
Other liabilities |
|
65,753 |
|
|
|
|
|
|
42,418 |
|
|
|
|
|
Shareholders’
equity |
|
1,299,351 |
|
|
|
|
|
|
994,813 |
|
|
|
|
|
Total liabilities and
shareholders’ equity |
|
$ |
9,907,560 |
|
|
|
|
|
|
$ |
7,450,422 |
|
|
|
|
|
Net interest income and
spread |
|
|
|
$ |
82,698 |
|
|
3.58 |
% |
|
|
|
$ |
61,786 |
|
|
3.50 |
% |
Net interest
margin |
|
|
|
|
|
3.73 |
% |
|
|
|
|
|
3.64 |
% |
(1) Presented on a fully tax equivalent basis(2) Includes
Federal Home Loan Bank stocks
|
CAPITAL BANK FINANCIAL CORP. |
RECONCILIATION OF NON-GAAP
MEASURES |
(Dollars in thousands) |
(Unaudited) |
|
CORE NET
INCOME |
|
Three Months Ended |
|
|
Mar 31, 2017 |
|
Dec 31, 2016 |
|
Mar 30, 2016 |
Net
Income |
|
$ |
20,883 |
|
|
$ |
20,883 |
|
|
$ |
12,434 |
|
|
$ |
12,434 |
|
|
$ |
9,840 |
|
|
$ |
9,840 |
|
|
|
Pre-Tax |
|
After-Tax |
|
Pre-Tax |
|
After-Tax |
|
Pre-Tax |
|
After-Tax |
Adjustments |
|
|
|
|
|
|
|
|
|
|
|
|
Non-interest
income |
|
|
|
|
|
|
|
|
|
|
|
|
Indemnification asset termination |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
9,178 |
|
|
5,670 |
|
Security
(gains) losses* |
|
(67 |
) |
|
(41 |
) |
|
(1,894 |
) |
|
(1,170 |
) |
|
(40 |
) |
|
(25 |
) |
Non-interest
expense |
|
|
|
|
|
|
|
|
|
|
|
|
Legal
Settlement |
|
— |
|
|
— |
|
|
1,361 |
|
|
841 |
|
|
— |
|
|
— |
|
Tax
Adjustment |
|
— |
|
|
— |
|
|
(1,350 |
) |
|
(1,350 |
) |
|
— |
|
|
— |
|
Severance
expense* |
|
— |
|
|
— |
|
|
7 |
|
|
4 |
|
|
75 |
|
|
46 |
|
Restructuring expense* |
|
1,912 |
|
|
1,181 |
|
|
4 |
|
|
3 |
|
|
142 |
|
|
88 |
|
Conversion costs and merger tax deductible*
|
|
3,037 |
|
|
1,877 |
|
|
18,245 |
|
|
11,270 |
|
|
1,107 |
|
|
684 |
|
Legal
merger non deductible |
|
— |
|
|
— |
|
|
280 |
|
|
280 |
|
|
580 |
|
|
580 |
|
Tax
effect of adjustments* |
|
(1,865 |
) |
|
|
N/A |
|
|
(6,775 |
) |
|
|
N/A |
|
|
(3,999 |
) |
|
|
N/A |
|
Core Net
Income |
|
$ |
23,900 |
|
|
$ |
23,900 |
|
|
$ |
22,312 |
|
|
$ |
22,312 |
|
|
$ |
16,883 |
|
|
$ |
16,883 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
shares |
|
53,127 |
|
|
|
|
50,387 |
|
|
|
|
43,904 |
|
|
|
Core Net
Income per share |
|
$ |
0.45 |
|
|
|
|
$ |
0.44 |
|
|
|
|
$ |
0.38 |
|
|
|
Average
Assets |
|
9,907,560 |
|
|
|
|
9,329,334 |
|
|
|
|
7,450,422 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ROA** |
|
0.84 |
% |
|
|
|
0.53 |
% |
|
|
|
0.53 |
% |
|
|
Core
ROA*** |
|
0.96 |
% |
|
|
|
0.96 |
% |
|
|
|
0.91 |
% |
|
|
* Tax effected at an income tax rate of 38%
** ROA: Annualized net income / Average assets*** Core ROA:
Annualized core net income / Average assets
|
CAPITAL BANK FINANCIAL CORP. |
RECONCILIATION OF NON-GAAP MEASURES
(Continuation) |
(Dollars in thousands) |
(Unaudited) |
|
CORE EFFICIENCY
RATIO |
Three Months Ended |
|
Mar 31, 2017 |
|
Dec 31, 2016 |
|
Sep 30, 2016 |
|
Jun 30, 2016 |
|
Mar 31, 2016 |
Net interest
income |
$ |
82,116 |
|
|
$ |
77,819 |
|
|
$ |
62,627 |
|
|
$ |
61,515 |
|
|
$ |
61,367 |
|
|
|
|
|
|
|
|
|
|
|
Reported non-interest
income |
15,852 |
|
|
17,016 |
|
|
12,370 |
|
|
11,922 |
|
|
2,566 |
|
Indemnification asset termination |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(9,178 |
) |
Less:
Securities gains (losses) |
67 |
|
|
1,894 |
|
|
71 |
|
|
117 |
|
|
40 |
|
Core
non-interest income |
$ |
15,785 |
|
|
$ |
15,122 |
|
|
$ |
12,299 |
|
|
$ |
11,805 |
|
|
$ |
11,704 |
|
|
|
|
|
|
|
|
|
|
|
Reported non-interest
expense |
$ |
62,703 |
|
|
$ |
73,994 |
|
|
$ |
47,530 |
|
|
$ |
44,536 |
|
|
$ |
46,938 |
|
Less:
Severance expense |
— |
|
|
7 |
|
|
— |
|
|
— |
|
|
75 |
|
Conversion costs and merger tax deductible |
3,037 |
|
|
18,245 |
|
|
331 |
|
|
881 |
|
|
1,107 |
|
Legal
settlement |
— |
|
|
1,361 |
|
|
1,500 |
|
|
— |
|
|
— |
|
Legal
merger non deductible |
— |
|
|
280 |
|
|
61 |
|
|
355 |
|
|
580 |
|
Restructuring expense |
1,912 |
|
|
4 |
|
|
(113 |
) |
|
5 |
|
|
142 |
|
Contract
termination |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Conversion and severance expenses (conversion and merger expenses
and salaries and employees benefits) |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Core non-interest expense |
$ |
57,754 |
|
|
$ |
54,097 |
|
|
$ |
45,751 |
|
|
$ |
43,295 |
|
|
$ |
45,034 |
|
|
|
|
|
|
|
|
|
|
|
Efficiency ratio* |
64.00 |
% |
|
78.02 |
% |
|
63.38 |
% |
|
60.65 |
% |
|
73.42 |
% |
Core
efficiency ratio** |
58.99 |
% |
|
58.21 |
% |
|
61.06 |
% |
|
59.05 |
% |
|
61.63 |
% |
* Efficiency Ratio: Non-interest expense /
(Non-interest income + Net interest income) ** Core
Efficiency Ratio: Core non-interest expense / (Core non-interest
income + Net interest income)
|
CAPITAL BANK FINANCIAL CORP. |
RECONCILIATION OF NON-GAAP MEASURES
(Continuation) |
(Dollars and shares in thousands, except per
share data) |
(Unaudited) |
|
TANGIBLE BOOK
VALUE |
|
Three Months Ended |
|
|
Mar 31, 2017 |
|
Dec 31, 2016 |
|
Sep 30, 2016 |
|
Jun 30, 2016 |
|
Mar 31, 2016 |
Total shareholders’
equity |
|
$ |
1,307,931 |
|
|
$ |
1,292,047 |
|
|
$ |
1,029,841 |
|
|
$ |
1,016,498 |
|
|
$ |
996,993 |
|
Less: goodwill and
intangible assets, net of taxes |
|
(253,708 |
) |
|
(256,176 |
) |
|
(142,141 |
) |
|
(142,725 |
) |
|
(143,304 |
) |
Tangible book
value* |
|
$ |
1,054,223 |
|
|
$ |
1,035,871 |
|
|
$ |
887,700 |
|
|
$ |
873,773 |
|
|
$ |
853,689 |
|
Common shares
outstanding |
|
51,966 |
|
|
51,765 |
|
|
43,235 |
|
|
43,219 |
|
|
43,189 |
|
Tangible book
value per share |
|
$ |
20.29 |
|
|
$ |
20.01 |
|
|
$ |
20.53 |
|
|
$ |
20.22 |
|
|
$ |
19.77 |
|
* Tangible book value is equal to book value less
goodwill and core deposit intangibles, net of related deferred tax
liabilities.
|
|
|
TANGIBLE COMMON
EQUITY RATIO |
|
Three Months Ended |
|
|
Mar 31, 2017 |
|
Dec 31, 2016 |
|
Sep 30, 2016 |
|
Jun 30, 2016 |
|
Mar 31, 2016 |
Total shareholders’
equity |
|
$ |
1,307,931 |
|
|
$ |
1,292,047 |
|
|
$ |
1,029,841 |
|
|
$ |
1,016,498 |
|
|
$ |
996,993 |
|
Less: goodwill and
intangible assets |
|
(265,711 |
) |
|
(268,870 |
) |
|
(146,810 |
) |
|
(147,753 |
) |
|
(148,688 |
) |
Tangible common
equity |
|
$ |
1,042,220 |
|
|
$ |
1,023,177 |
|
|
$ |
883,031 |
|
|
$ |
868,745 |
|
|
$ |
848,305 |
|
Total assets |
|
$ |
10,098,042 |
|
|
$ |
9,930,657 |
|
|
$ |
7,792,458 |
|
|
$ |
7,621,225 |
|
|
$ |
7,479,798 |
|
Less: goodwill and
intangible assets |
|
(265,711 |
) |
|
(268,870 |
) |
|
(146,810 |
) |
|
(147,753 |
) |
|
(148,688 |
) |
Tangible assets |
|
$ |
9,832,331 |
|
|
$ |
9,661,787 |
|
|
$ |
7,645,648 |
|
|
$ |
7,473,472 |
|
|
$ |
7,331,110 |
|
Tangible common
equity ratio |
|
10.60 |
% |
|
10.59 |
% |
|
11.55 |
% |
|
11.62 |
% |
|
11.57 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONTACT:
Kenneth A. Posner
Chief of Strategic Planning and Investor Relations
Phone: (212) 399-4020
E-mail: Kposner@cbfcorp.com
Grafico Azioni Capital Bank Financial Corp. (MM) (NASDAQ:CBF)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Capital Bank Financial Corp. (MM) (NASDAQ:CBF)
Storico
Da Giu 2023 a Giu 2024