Investor Presentation (2Q2016)
Reconciliation: Return on Average Tangible Equity
($000s)
Net Income (1)
Amortization of Intangibles (1)
Net Income before Amortization of
Intangibles
Merger-Related Expenses (net of tax) (1)
Net Income before Amortization of
Intangibles & Merger-Related Expenses
Average Total Shareholders Equity
Average Goodwill & Other Intangibles, Net
of Deferred Tax Liabilities
Average Tangible Equity
Return on Average Tangible Equity
Return on Average Tangible Equity
(excluding merger-related expenses)
Three Months Ending
3/31/15
$ 56,319
$ 1,491
$ 6,326
3/31/16
$ 91,999
$ 57,810 $ 93,907
$ 1,908
$ 64,136 $ 93,907
$956,836 $1,139,514
10.62%
12/31/11
$ 43,809
$ 1,566
14.40%
$ 45,375
$ 45,375
Twelve Months Ending
12/31/12 12/31/13
$ 49,544
$ 63,925
$ 1,398
13.18%
$ 50,942
$ 2,527
$ 1,487
$ 65,412
13.57%
851
11.78%
14.40%
13.18%
(1) three-month net income figures are annualized; amortization of intangibles tax effected at 35%
Note: ESB Financial merger closed February 2015 and Fidelity Bancorp merger closed November 2012
14.24%
$ 53,469 $ 66,263 $ 72,073
12/31/14
$ 69,974
$ 1,248
$ 71,222
15.79%
851
$(412,454) $(487,210) $(280,718) $(281,326) $(318,913) $(317,523) $(442,215)
15.99%
$625,061 $656,684 $733,249 $780,423 $1,059,490
$544,382 $652,304 $344,343 $375,358 $414,336 $462,900 $617,275
12/31/15
$ 80,762
$ 2,038
15.39%
$ 82,800
15.57%
$ 7,203
$ 90,003
13.41%
14.58%
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