Exhibit 99.2
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | 2009 | | | 2008 | | | 2007 | | | 2006 |
| | Sept. 30 / YTD | | 3rd Quarter | | 2nd Quarter | | 1st Quarter | | | Dec. 31 /YTD | | 4th Quarter | | 3rd Quarter | | 2nd Quarter | | 1st Quarter | | | Dec. 31 /YTD | | 4th Quarter | | | Dec. 31 /YTD |
Period-End Balance Sheet | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 7,678,434 | | $ | 7,678,434 | | $ | 7,767,312 | | $ | 8,252,576 | | | $ | 8,528,341 | | $ | 8,528,341 | | $ | 8,246,655 | | $ | 8,311,025 | | $ | 8,315,368 | | | $ | 8,091,518 | | $ | 8,091,518 | | | $ | 8,441,526 |
Securities HTM - amortized cost | | | 83,860 | | | 83,860 | | | 86,245 | | | 81,566 | | | | 84,306 | | | 84,306 | | | 85,982 | | | 94,580 | | | 95,651 | | | | 97,671 | | | 97,671 | | | | 91,380 |
Securities AFS - fair market value | | | 1,349,669 | | | 1,349,669 | | | 1,450,082 | | | 1,901,919 | | | | 2,216,186 | | | 2,216,186 | | | 2,024,881 | | | 2,106,461 | | | 2,100,602 | | | | 2,080,046 | | | 2,080,046 | | | | 2,387,788 |
FHLB and FRB stock | | | 54,768 | | | 54,768 | | | 54,768 | | | 54,768 | | | | 54,767 | | | 54,767 | | | 54,767 | | | 54,767 | | | 54,767 | | | | 54,767 | | | 54,767 | | | | 54,886 |
Loans: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Commercial and industrial | | | 1,484,601 | | | 1,484,601 | | | 1,457,413 | | | 1,508,175 | | | | 1,490,101 | | | 1,490,101 | | | 1,485,541 | | | 1,448,723 | | | 1,396,665 | | | | 1,347,481 | | | 1,347,481 | | | | 1,413,263 |
Agricultural | | | 200,955 | | | 200,955 | | | 210,675 | | | 219,178 | | | | 216,814 | | | 216,814 | | | 234,755 | | | 281,002 | | | 257,505 | | | | 235,498 | | | 235,498 | | | | 158,305 |
Real estate - office, retail, and industrial | | | 1,151,276 | | | 1,151,276 | | | 1,117,748 | | | 1,086,987 | | | | 1,025,241 | | | 1,025,241 | | | 999,319 | | | 951,776 | | | 908,098 | | | | 824,078 | | | 824,078 | | | | 895,666 |
Real estate - residential construction | | | 400,502 | | | 400,502 | | | 458,913 | | | 466,195 | | | | 509,059 | | | 509,059 | | | 509,974 | | | 510,818 | | | 515,052 | | | | 505,194 | | | 505,194 | | | | 451,186 |
Real estate - commercial construction | | | 196,198 | | | 196,198 | | | 204,042 | | | 232,675 | | | | 258,253 | | | 258,253 | | | 229,492 | | | 246,668 | | | 255,463 | | | | 244,904 | | | 244,904 | | | | 209,064 |
Real estate - multifamily | | | 342,807 | | | 342,807 | | | 305,976 | | | 311,865 | | | | 286,963 | | | 286,963 | | | 237,506 | | | 218,805 | | | 209,087 | | | | 217,266 | | | 217,266 | | | | 278,009 |
Real estate - other commercial | | | 858,693 | | | 858,693 | | | 880,515 | | | 832,851 | | | | 827,651 | | | 827,651 | | | 776,104 | | | 768,308 | | | 731,960 | | | | 804,769 | | | 804,769 | | | | 736,211 |
Real estate - 1-4 family | | | 138,862 | | | 138,862 | | | 171,186 | | | 185,486 | | | | 198,197 | | | 198,197 | | | 205,851 | | | 213,295 | | | 224,895 | | | | 220,741 | | | 220,741 | | | | 215,464 |
Consumer | | | 532,174 | | | 532,174 | | | 534,303 | | | 543,716 | | | | 547,784 | | | 547,784 | | | 545,040 | | | 542,960 | | | 547,040 | | | | 563,741 | | | 563,741 | | | | 651,776 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total loans | | | 5,306,068 | | | 5,306,068 | | | 5,340,771 | | | 5,387,128 | | | | 5,360,063 | | | 5,360,063 | | | 5,223,582 | | | 5,182,355 | | | 5,045,765 | | | | 4,963,672 | | | 4,963,672 | | | | 5,008,944 |
Other Assets: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Other earning assets | | | 94,924 | | | 94,924 | | | 19,926 | | | 14,626 | | | | 20,584 | | | 20,584 | | | 15,816 | | | 18,060 | | | 19,113 | | | | 19,397 | | | 19,397 | | | | 5,081 |
Total earning assets | | | 6,889,289 | | | 6,889,289 | | | 6,951,792 | | | 7,440,007 | | | | 7,735,906 | | | 7,735,906 | | | 7,405,028 | | | 7,456,223 | | | 7,315,898 | | | | 7,215,947 | | | 7,215,947 | | | | 7,552,839 |
Bank owned life insurance | | | 197,681 | | | 197,681 | | | 197,564 | | | 199,070 | | | | 198,533 | | | 198,533 | | | 207,390 | | | 206,132 | | | 203,987 | | | | 203,535 | | | 203,535 | | | | 196,598 |
Goodwill and other intangibles | | | 281,614 | | | 281,614 | | | 282,592 | | | 283,570 | | | | 284,548 | | | 284,548 | | | 285,643 | | | 286,737 | | | 287,141 | | | | 288,235 | | | 288,235 | | | | 292,658 |
Deposits: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Demand deposits | | | 1,069,870 | | | 1,069,870 | | | 1,058,553 | | | 1,046,660 | | | | 1,040,763 | | | 1,040,763 | | | 1,056,905 | | | 1,077,659 | | | 1,060,545 | | | | 1,064,684 | | | 1,064,684 | | | | 1,124,081 |
Interest bearing deposits | | | 4,679,283 | | | 4,679,283 | | | 4,708,103 | | | 4,461,722 | | | | 4,544,991 | | | 4,544,991 | | | 4,601,379 | | | 4,707,504 | | | 4,661,017 | | | | 4,714,177 | | | 4,714,177 | | | | 5,043,135 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total deposits | | | 5,749,153 | | | 5,749,153 | | | 5,766,656 | | | 5,508,382 | | | | 5,585,754 | | | 5,585,754 | | | 5,658,284 | | | 5,785,163 | | | 5,721,562 | | | | 5,778,861 | | | 5,778,861 | | | | 6,167,216 |
Fed funds purchased and repurchase agreements | | | 265,917 | | | 265,917 | | | 566,794 | | | 685,016 | | | | 737,598 | | | 737,598 | | | 928,966 | | | 676,571 | | | 569,662 | | | | 665,164 | | | 665,164 | | | | 612,608 |
Other borrowed funds | | | 450,382 | | | 450,382 | | | 225,382 | | | 850,736 | | | | 960,736 | | | 960,736 | | | 625,737 | | | 813,337 | | | 844,064 | | | | 599,064 | | | 599,064 | | | | 569,660 |
Subordinated debt | | | 157,717 | | | 157,717 | | | 232,342 | | | 232,375 | | | | 232,409 | | | 232,409 | | | 232,442 | | | 232,476 | | | 232,509 | | | | 230,082 | | | 230,082 | | | | 228,674 |
Stockholders’ equity | | | 983,579 | | | 983,579 | | | 892,053 | | | 903,612 | | | | 908,279 | | | 908,279 | | | 718,909 | | | 724,034 | | | 737,927 | | | | 723,975 | | | 723,975 | | | | 751,014 |
Stockholders’ equity, excluding OCI | | | 999,796 | | | 999,796 | | | 941,535 | | | 941,082 | | | | 926,321 | | | 926,321 | | | 770,716 | | | 759,983 | | | 747,260 | | | | 735,702 | | | 735,702 | | | | 766,302 |
Stockholders’ equity, common | | | 790,579 | | | 790,579 | | | 699,053 | | | 710,612 | | | | 715,949 | | | 715,949 | | | 718,909 | | | 724,034 | | | 737,927 | | | | 723,975 | | | 723,975 | | | | 751,014 |
Stockholders’ equity, common excluding OCI | | | 806,796 | | | 806,796 | | | 748,535 | | | 748,082 | | | | 733,991 | | | 733,991 | | | 770,716 | | | 759,983 | | | 747,260 | | | | 735,702 | | | 735,702 | | | | 766,302 |
Stockholders’ equity, preferred | | | 193,000 | | | 193,000 | | | 193,000 | | | 193,000 | | | | 192,330 | | | 192,330 | | | — | | | — | | | — | | | | — | | | — | | | | — |
Average Balance Sheet | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 8,165,187 | | $ | 7,877,055 | | $ | 8,195,690 | | $ | 8,428,879 | | | $ | 8,225,440 | | $ | 8,365,535 | | $ | 8,275,818 | | $ | 8,187,594 | | $ | 8,070,724 | | | $ | 8,091,333 | | $ | 7,920,731 | | | $ | 8,255,764 |
Securities - HTM taxable | | | 7,473 | | | 7,396 | | | 7,454 | | | 7,571 | | | | 7,670 | | | 7,575 | | | 7,647 | | | 7,701 | | | 7,756 | | | | 9,450 | | | 8,170 | | | | 9,848 |
Securities - HTM tax-exempt | | | 77,340 | | | 77,470 | | | 79,129 | | | 75,398 | | | | 84,718 | | | 78,089 | | | 82,213 | | | 90,682 | | | 87,991 | | | | 88,099 | | | 81,814 | | | | 91,046 |
Securities - AFS taxable | | | 971,220 | | | 711,552 | | | 990,358 | | | 1,217,308 | | | | 1,171,264 | | | 1,195,909 | | | 1,192,899 | | | 1,162,348 | | | 1,133,390 | | | | 1,268,389 | | | 1,140,075 | | | | 1,456,220 |
Securities - AFS tax-exempt | | | 807,552 | | | 721,872 | | | 810,485 | | | 892,169 | | | | 936,933 | | | 917,418 | | | 931,565 | | | 943,278 | | | 955,745 | | | | 906,905 | | | 915,398 | | | | 998,727 |
FHLB and FRB stock | | | 54,768 | | | 54,768 | | | 54,768 | | | 54,768 | | | | 54,767 | | | 54,767 | | | 54,767 | | | 54,767 | | | 54,767 | | | | 54,774 | | | 54,767 | | | | 59,056 |
Total loans | | | 5,363,905 | | | 5,346,769 | | | 5,366,393 | | | 5,378,905 | | | | 5,149,879 | | | 5,275,981 | | | 5,205,188 | | | 5,097,586 | | | 5,018,767 | | | | 4,943,479 | | | 4,921,210 | | | | 4,869,360 |
Other earning assets | | | 119,812 | | | 210,667 | | | 129,716 | | | 16,921 | | | | 35,310 | | | 58,231 | | | 24,868 | | | 37,327 | | | 20,676 | | | | 30,507 | | | 26,955 | | | | 10,892 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total earning assets | | | 7,402,070 | | | 7,130,494 | | | 7,438,303 | | | 7,643,040 | | | | 7,440,541 | | | 7,587,970 | | | 7,499,147 | | | 7,393,689 | | | 7,279,092 | | | | 7,301,603 | | | 7,148,389 | | | | 7,495,149 |
Deposits: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Demand deposits | | | 1,043,047 | | | 1,056,188 | | | 1,044,033 | | | 1,028,617 | | | | 1,043,972 | | | 1,043,596 | | | 1,053,530 | | | 1,053,339 | | | 1,025,320 | | | | 1,055,251 | | | 1,050,954 | | | | 1,052,413 |
Savings deposits | | | 753,580 | | | 749,995 | | | 762,375 | | | 748,350 | | | | 792,524 | | | 748,065 | | | 784,646 | | | 823,196 | | | 814,764 | | | | 754,009 | | | 788,526 | | | | 653,321 |
NOW accounts | | | 994,895 | | | 1,062,708 | | | 1,026,432 | | | 893,687 | | | | 935,429 | | | 923,643 | | | 983,364 | | | 953,808 | | | 880,505 | | | | 900,956 | | | 885,966 | | | | 924,539 |
Money market deposits | | | 889,852 | | | 995,132 | | | 903,728 | | | 768,202 | | | | 787,218 | | | 737,658 | | | 770,967 | | | 818,815 | | | 822,154 | | | | 859,864 | | | 854,409 | | | | 867,775 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Core transactional deposits | | | 3,681,374 | | | 3,864,023 | | | 3,736,568 | | | 3,438,856 | | | | 3,559,143 | | | 3,452,962 | | | 3,592,507 | | | 3,649,158 | | | 3,542,743 | | | | 3,570,080 | | | 3,579,855 | | | | 3,498,048 |
Time deposits > $100,000 | | | 1,236,562 | | | 1,225,893 | | | 741,356 | | | 698,301 | | | | 802,500 | | | 738,486 | | | 839,495 | | | 830,166 | | | 802,149 | | | | 827,907 | | | 810,802 | | | | 746,036 |
Time deposits < $100,000 | | | 762,111 | | | 712,552 | | | 1,247,992 | | | 1,371,370 | | | | 1,369,879 | | | 1,444,120 | | | 1,330,535 | | | 1,331,445 | | | 1,373,034 | | | | 1,491,995 | | | 1,429,534 | | | | 1,683,866 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total time deposits | | | 1,998,673 | | | 1,938,445 | | | 1,989,348 | | | 2,069,671 | | | | 2,172,379 | | | 2,182,606 | | | 2,170,030 | | | 2,161,611 | | | 2,175,183 | | | | 2,319,902 | | | 2,240,336 | | | | 2,429,902 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total deposits | | | 5,680,047 | | | 5,802,468 | | | 5,725,916 | | | 5,508,527 | | | | 5,731,522 | | | 5,635,568 | | | 5,762,537 | | | 5,810,769 | | | 5,717,926 | | | | 5,889,982 | | | 5,820,191 | | | | 5,927,950 |
FFP, repos, other borrowed funds | | | 1,272,738 | | | 870,397 | | | 1,261,949 | | | 1,694,928 | | | | 1,438,908 | | | 1,638,037 | | | 1,476,403 | | | 1,331,195 | | | 1,307,398 | | | | 1,131,700 | | | 1,046,041 | | | | 1,339,826 |
Subordinated debt | | | 230,460 | | | 226,693 | | | 232,358 | | | 232,391 | | | | 231,961 | | | 232,425 | | | 232,458 | | | 232,492 | | | 230,458 | | | | 227,756 | | | 227,973 | | | | 206,449 |
Total funding sources | | | 7,183,245 | | | 6,899,558 | | | 7,220,223 | | | 7,435,846 | | | | 7,402,391 | | | 7,506,030 | | | 7,471,398 | | | 7,374,456 | | | 7,255,782 | | | | 7,249,438 | | | 7,094,205 | | | | 7,474,225 |
Stockholders’ equity | | | 908,828 | | | 905,347 | | | 907,421 | | | 913,809 | | | | 764,731 | | | 845,755 | | | 735,022 | | | 745,128 | | | 732,458 | | | | 750,111 | | | 738,664 | | | | 695,020 |
Stockholders’ equity, common | | | 715,828 | | | 712,347 | | | 714,421 | | | 720,809 | | | | 750,497 | | | 789,128 | | | 735,022 | | | 745,128 | | | 732,458 | | | | 750,111 | | | 738,664 | | | | 695,020 |
Stockholders’ equity, preferred | | | 193,000 | | | 193,000 | | | 193,000 | | | 193,000 | | | | 14,234 | | | 56,627 | | | — | | | — | | | — | | | | — | | | — | | | | — |
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | 2009 | | | 2008 | | | 2007 | | | 2006 | |
| | Sept. 30 / YTD | | | 3rd Quarter | | | 2nd Quarter | | | 1st Quarter | | | Dec. 31 /YTD | | | 4th Quarter | | | 3rd Quarter | | | 2nd Quarter | | | 1st Quarter | | | Dec. 31 /YTD | | | 4th Quarter | | | Dec. 31 /YTD | |
Income Statement | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest income | | $ | 259,381 | | | $ | 82,762 | | | $ | 85,139 | | | $ | 91,480 | | | $ | 409,207 | | | $ | 97,933 | | | $ | 101,486 | | | $ | 101,313 | | | $ | 108,475 | | | $ | 476,961 | | | $ | 114,611 | | | $ | 476,409 | |
Interest expense | | | 73,790 | | | | 21,781 | | | | 24,748 | | | | 27,261 | | | | 162,610 | | | | 32,920 | | | | 38,728 | | | | 40,987 | | | | 49,975 | | | | 236,832 | | | | 56,513 | | | | 224,550 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net interest income | | | 185,591 | | | | 60,981 | | | | 60,391 | | | | 64,219 | | | | 246,597 | | | | 65,013 | | | | 62,758 | | | | 60,326 | | | | 58,500 | | | | 240,129 | | | | 58,098 | | | | 251,859 | |
Loan loss provision | | | 122,672 | | | | 38,000 | | | | 36,262 | | | | 48,410 | | | | 70,254 | | | | 42,385 | | | | 13,029 | | | | 5,780 | | | | 9,060 | | | | 7,233 | | | | 2,042 | | | | 10,229 | |
Service charges on deposit accounts | | | 28,777 | | | | 10,046 | | | | 9,687 | | | | 9,044 | | | | 44,987 | | | | 11,206 | | | | 11,974 | | | | 11,385 | | | | 10,422 | | | | 45,015 | | | | 11,986 | | | | 40,036 | |
Trust and investment management fees | | | 10,355 | | | | 3,555 | | | | 3,471 | | | | 3,329 | | | | 15,130 | | | | 3,420 | | | | 3,818 | | | | 3,945 | | | | 3,947 | | | | 15,701 | | | | 4,061 | | | | 14,269 | |
Other service charges, commissions, and fees | | | 12,249 | | | | 4,222 | | | | 4,021 | | | | 4,006 | | | | 18,846 | | | | 4,554 | | | | 4,834 | | | | 4,456 | | | | 5,002 | | | | 22,183 | | | | 5,324 | | | | 20,135 | |
Card-based fees | | | 11,826 | | | | 4,023 | | | | 4,048 | | | | 3,755 | | | | 16,143 | | | | 3,868 | | | | 4,141 | | | | 4,236 | | | | 3,898 | | | | 15,925 | | | | 3,979 | | | | 13,777 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Subtotal, total fee-based revenue | | | 63,207 | | | | 21,846 | | | | 21,227 | | | | 20,134 | | | | 95,106 | | | | 23,048 | | | | 24,767 | | | | 24,022 | | | | 23,269 | | | | 98,824 | | | | 25,350 | | | | 88,217 | |
Bank owned life insurance income | | | 1,982 | | | | 282 | | | | 1,159 | | | | 541 | | | | (2,369 | ) | | | (8,858 | ) | | | 1,882 | | | | 2,145 | | | | 2,462 | | | | 8,033 | | | | 2,117 | | | | 7,616 | |
Security (losses) gains, net | | | 7,882 | | | | (6,975 | ) | | | 6,635 | | | | 8,222 | | | | (35,611 | ) | | | (34,215 | ) | | | (1,746 | ) | | | (4,618 | ) | | | 4,968 | | | | (50,801 | ) | | | (50,041 | ) | | | 4,269 | |
Gains on early extinguishment of debt | | | 13,991 | | | | 13,991 | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Other income | | | 4,193 | | | | 1,946 | | | | 2,373 | | | | (126 | ) | | | (3,119 | ) | | | (2,104 | ) | | | (1,209 | ) | | | 874 | | | | (680 | ) | | | 4,197 | | | | 109 | | | | 3,181 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total noninterest income | | | 91,255 | | | | 31,090 | | | | 31,394 | | | | 28,771 | | | | 54,007 | | | | (22,129 | ) | | | 23,694 | | | | 22,423 | | | | 30,019 | | | | 60,253 | | | | (22,465 | ) | | | 103,283 | |
Salaries and employee benefits | | | 78,956 | | | | 27,416 | | | | 28,229 | | | | 23,311 | | | | 99,910 | | | | 20,356 | | | | 26,996 | | | | 26,368 | | | | 26,190 | | | | 111,598 | | | | 27,686 | | | | 106,201 | |
Occupancy and equipment expense | | | 24,063 | | | | 7,837 | | | | 7,389 | | | | 8,837 | | | | 33,334 | | | | 8,421 | | | | 8,216 | | | | 7,979 | | | | 8,718 | | | | 32,594 | | | | 8,224 | | | | 30,380 | |
FDIC insurance | | | 10,953 | | | | 2,558 | | | | 6,034 | | | | 2,361 | | | | 1,065 | | | | 301 | | | | 261 | | | | 251 | | | | 252 | | | | 747 | | | | 173 | | | | 763 | |
Other real estate expense, net | | | 7,766 | | | | 3,461 | | | | 3,301 | | | | 1,004 | | | | 3,409 | | | | 1,289 | | | | 637 | | | | 1,165 | | | | 318 | | | | 972 | | | | 533 | | | | 843 | |
Other intangibles amortization | | | 2,935 | | | | 979 | | | | 978 | | | | 978 | | | | 4,378 | | | | 1,095 | | | | 1,094 | | | | 1,095 | | | | 1,094 | | | | 4,423 | | | | 1,106 | | | | 4,039 | |
Acquisition and restructure charges | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | 36 | | | | — | | | | 1,753 | |
Other expenses | | | 39,594 | | | | 14,389 | | | | 13,302 | | | | 11,903 | | | | 52,209 | | | | 15,119 | | | | 11,232 | | | | 13,087 | | | | 12,771 | | | | 48,767 | | | | 12,542 | | | | 48,636 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total noninterest expense | | | 164,267 | | | | 56,640 | | | | 59,233 | | | | 48,394 | | | | 194,305 | | | | 46,581 | | | | 48,436 | | | | 49,945 | | | | 49,343 | | | | 199,137 | | | | 50,264 | | | | 192,615 | |
Pre-tax earnings | | | (10,093 | ) | | | (2,569 | ) | | | (3,710 | ) | | | (3,814 | ) | | | 36,045 | | | | (46,082 | ) | | | 24,987 | | | | 27,024 | | | | 30,116 | | | | 94,012 | | | | (16,673 | ) | | | 152,298 | |
Income taxes | | | (21,834 | ) | | | (5,920 | ) | | | (6,373 | ) | | | (9,541 | ) | | | (13,291 | ) | | | (19,192 | ) | | | 796 | | | | 27 | | | | 5,078 | | | | 13,853 | | | | (11,255 | ) | | | 35,052 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | $ | 11,741 | | | $ | 3,351 | | | $ | 2,663 | | | $ | 5,727 | | | $ | 49,336 | | | $ | (26,890 | ) | | $ | 24,191 | | | $ | 26,997 | | | $ | 25,038 | | | $ | 80,159 | | | $ | (5,418 | ) | | $ | 117,246 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net income applicable to common shares | | $ | 3,991 | | | $ | 773 | | | $ | 63 | | | $ | 3,155 | | | $ | 48,482 | | | $ | (27,568 | ) | | $ | 24,149 | | | $ | 26,922 | | | $ | 24,979 | | | $ | 80,094 | | | $ | (5,414 | ) | | $ | 117,189 | |
Basic earnings per common share | | $ | 0.08 | | | $ | 0.02 | | | $ | 0.00 | | | $ | 0.07 | | | $ | 1.00 | | | $ | (0.57 | ) | | $ | 0.50 | | | $ | 0.56 | | | $ | 0.52 | | | $ | 1.62 | | | $ | (0.11 | ) | | $ | 2.39 | |
Diluted earnings per common share | | $ | 0.08 | | | $ | 0.02 | | | $ | 0.00 | | | $ | 0.07 | | | $ | 1.00 | | | $ | (0.57 | ) | | $ | 0.50 | | | $ | 0.55 | | | $ | 0.51 | | | $ | 1.62 | | | $ | (0.11 | ) | | $ | 2.37 | |
Weighted average shares outstanding | | | 48,647 | | | | 48,942 | | | | 48,501 | | | | 48,493 | | | | 48,462 | | | | 48,487 | | | | 48,470 | | | | 48,459 | | | | 48,433 | | | | 49,295 | | | | 48,525 | | | | 49,102 | |
Weighted average diluted shares outstanding | | | 48,647 | | | | 48,942 | | | | 48,501 | | | | 48,493 | | | | 48,515 | | | | 48,508 | | | | 48,499 | | | | 48,519 | | | | 48,537 | | | | 49,586 | | | | 48,711 | | | | 49,463 | |
Tax equivalent adjustment(1) | | $ | 15,210 | | | $ | 4,691 | | | $ | 5,091 | | | $ | 5,428 | | | $ | 22,225 | | | $ | 5,496 | | | $ | 5,572 | | | $ | 5,603 | | | $ | 5,554 | | | $ | 20,906 | | | $ | 5,236 | | | $ | 23,551 | |
Net interest income (FTE)(1) | | $ | 200,801 | | | $ | 65,672 | | | $ | 65,482 | | | $ | 69,647 | | | $ | 268,822 | | | $ | 70,509 | | | $ | 68,330 | | | $ | 65,929 | | | $ | 64,054 | | | $ | 261,035 | | | $ | 63,334 | | | $ | 275,410 | |
Common stock and related per common share data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Book value | | $ | 14.43 | | | $ | 14.43 | | | $ | 14.22 | | | $ | 14.61 | | | $ | 14.72 | | | $ | 14.72 | | | $ | 14.80 | | | $ | 14.90 | | | $ | 15.20 | | | $ | 14.94 | | | $ | 14.94 | | | $ | 15.01 | |
Tangible book value | | | 9.29 | | | | 9.29 | | | | 8.47 | | | | 8.78 | | | | 8.87 | | | | 8.87 | | | | 8.92 | | | | 9.00 | | | | 9.28 | | | | 8.99 | | | | 8.99 | | | | 9.16 | |
Dividends declared per share | | | 0.030 | | | | 0.010 | | | | 0.010 | | | | 0.010 | | | | 1.155 | | | | 0.225 | | | | 0.310 | | | | 0.310 | | | | 0.310 | | | | 1.195 | | | | 0.310 | | | | 1.120 | |
Market price - period high | | | 20.25 | | | | 11.64 | | | | 12.00 | | | | 20.25 | | | | 40.09 | | | | 28.97 | | | | 40.09 | | | | 29.36 | | | | 31.98 | | | | 39.31 | | | | 36.50 | | | | 39.52 | |
Market price - period low | | | 5.94 | | | | 6.19 | | | | 5.94 | | | | 5.96 | | | | 13.56 | | | | 13.65 | | | | 13.56 | | | | 18.65 | | | | 24.38 | | | | 29.67 | | | | 29.67 | | | | 32.62 | |
Closing price at period end | | $ | 11.27 | | | $ | 11.27 | | | $ | 7.31 | | | $ | 8.59 | | | $ | 19.97 | | | $ | 19.97 | | | $ | 24.24 | | | $ | 18.65 | | | $ | 27.77 | | | $ | 30.60 | | | $ | 30.60 | | | $ | 38.68 | |
Closing price to book value | | | 0.8 | | | | 0.8 | | | | 0.5 | | | | 0.6 | | | | 1.4 | | | | 1.4 | | | | 1.6 | | | | 1.3 | | | | 1.8 | | | | 2.0 | | | | 2.0 | | | | 2.6 | |
Period end shares outstanding | | | 54,800 | | | | 54,800 | | | | 49,161 | | | | 48,628 | | | | 48,630 | | | | 48,630 | | | | 48,590 | | | | 48,584 | | | | 48,561 | | | | 48,453 | | | | 48,453 | | | | 50,025 | |
Period end treasury shares | | | 12,169 | | | | 12,169 | | | | 12,165 | | | | 12,698 | | | | 12,696 | | | | 12,696 | | | | 12,736 | | | | 12,742 | | | | 12,765 | | | | 12,873 | | | | 12,873 | | | | 11,301 | |
Number of shares repurchased | | | — | | | | — | | | | — | | | | — | | | | 5 | | | | — | | | | — | | | | 1 | | | | 4 | | | | 1,767 | | | | 297 | | | | 23 | |
Common dividends | | $ | 1,528 | | | $ | 556 | | | $ | 486 | | | $ | 486 | | | $ | 56,206 | | | $ | 10,955 | | | $ | 15,088 | | | $ | 15,084 | | | $ | 15,079 | | | $ | 58,765 | | | $ | 15,045 | | | $ | 56,033 | |
Preferred dividends | | $ | 7,237 | | | $ | 2,412 | | | $ | 2,413 | | | $ | 2,412 | | | $ | 670 | | | $ | 670 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 13,736 | |
Other Key Ratios/Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Return on average common equity(2) | | | 0.75 | % | | | 0.43 | % | | | 0.04 | % | | | 1.78 | % | | | 6.46 | % | | | -13.90 | % | | | 13.07 | % | | | 14.53 | % | | | 13.72 | % | | | 10.68 | % | | | -2.91 | % | | | 16.86 | % |
Return on average assets(2) | | | 0.19 | % | | | 0.17 | % | | | 0.13 | % | | | 0.28 | % | | | 0.60 | % | | | -1.28 | % | | | 1.16 | % | | | 1.33 | % | | | 1.25 | % | | | 0.99 | % | | | -0.27 | % | | | 1.42 | % |
Net interest margin(1) | | | 3.62 | % | | | 3.66 | % | | | 3.53 | % | | | 3.67 | % | | | 3.61 | % | | | 3.71 | % | | | 3.63 | % | | | 3.58 | % | | | 3.53 | % | | | 3.58 | % | | | 3.53 | % | | | 3.67 | % |
Yield on average earning assets(1) | | | 4.96 | % | | | 4.88 | % | | | 4.86 | % | | | 5.12 | % | | | 5.80 | % | | | 5.43 | % | | | 5.69 | % | | | 5.81 | % | | | 6.29 | % | | | 6.82 | % | | | 6.67 | % | | | 6.67 | % |
Cost of funds | | | 1.61 | % | | | 1.48 | % | | | 1.61 | % | | | 1.73 | % | | | 2.56 | % | | | 2.03 | % | | | 2.40 | % | | | 2.61 | % | | | 3.23 | % | | | 3.82 | % | | | 3.71 | % | | | 3.50 | % |
Efficiency ratio(1) | | | 57.64 | % | | | 59.13 | % | | | 61.45 | % | | | 52.33 | % | | | 53.49 | % | | | 59.06 | % | | | 50.30 | % | | | 51.67 | % | | | 54.02 | % | | | 52.50 | % | | | 53.87 | % | | | 50.53 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net noninterest expense ratio(2) | | 1.55 | % | | 1.64 | % | | 1.69 | % | | 1.34 | % | | 1.27 | % | | 1.64 | % | | 1.11 | % | | 1.13 | % | | 1.21 | % | | 1.09 | % | | 1.14 | % | | 1.13 | % |
Effective income tax rate | | 216.3 | % | | 230.4 | % | | 171.8 | % | | 250.2 | % | | -36.9 | % | | 41.6 | % | | 3.2 | % | | 0.1 | % | | 16.9 | % | | 14.7 | % | | 67.5 | % | | 23.0 | % |
Full time equivalent employees - end of period | | 1,751 | | | 1,751 | | | 1,766 | | | 1,767 | | | 1,809 | | | 1,809 | | | 1,792 | | | 1,828 | | | 1,833 | | | 1,856 | | | 1,856 | | | 1,892 | |
Number of bank offices | | 94 | | | 94 | | | 94 | | | 97 | | | 97 | | | 97 | | | 98 | | | 98 | | | 99 | | | 99 | | | 99 | | | 99 | |
Number of automated teller machines | | 127 | | | 127 | | | 128 | | | 130 | | | 129 | | | 129 | | | 130 | | | 130 | | | 131 | | | 131 | | | 131 | | | 130 | |
Note: Discussion of footnotes (1) and (2) are located at the end of this document.
First Midwest Bancorp, Inc.
Selected Financial Information
(Amounts in thousands, except per share data)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | 2009 | | | 2008 | | | 2007 | | | 2006 | |
| | Sept. 30 / YTD | | | 3rd Quarter | | | 2nd Quarter | | | 1st Quarter | | | Dec. 31 /YTD | | | 4th Quarter | | | 3rd Quarter | | | 2nd Quarter | | | 1st Quarter | | | Dec. 31 /YTD | | | 4th Quarter | | | Dec. 31 /YTD | |
Parent Company Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Parent investment in subsidiaries - end of period | | $ | 947,040 | | | $ | 947,040 | | | $ | 915,129 | | | $ | 921,904 | | | $ | 921,548 | | | $ | 921,548 | | | $ | 910,987 | | | $ | 897,482 | | | $ | 893,182 | | | $ | 861,841 | | | $ | 861,841 | | | $ | 887,908 | |
Risk-Based Capital Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Tier 1 capital | | $ | 803,023 | | | $ | 803,023 | | | $ | 784,008 | | | $ | 782,385 | | | $ | 766,758 | | | $ | 766,758 | | | $ | 610,048 | | | $ | 598,238 | | | $ | 585,181 | | | $ | 572,553 | | | $ | 572,553 | | | $ | 598,755 | |
Tier 2 capital | | | 149,073 | | | | 149,073 | | | | 179,709 | | | | 182,844 | | | | 182,675 | | | | 182,675 | | | | 169,727 | | | | 166,018 | | | | 164,690 | | | | 161,708 | | | | 161,708 | | | | 162,266 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total capital | | | 952,096 | | | | 952,096 | | | | 963,717 | | | | 965,229 | | | | 949,433 | | | | 949,433 | | | | 779,775 | | | | 764,256 | | | | 749,871 | | | | 734,261 | | | | 734,261 | | | | 761,021 | |
Risk-adjusted assets | | $ | 6,234,283 | | | $ | 6,234,283 | | | $ | 6,335,010 | | | $ | 6,600,684 | | | $ | 6,609,359 | | | $ | 6,609,359 | | | $ | 6,475,903 | | | $ | 6,436,784 | | | $ | 6,448,210 | | | $ | 6,340,614 | | | $ | 6,340,614 | | | $ | 6,259,983 | |
Tier 1 capital / risk-based assets | | | 12.88 | % | | | 12.88 | % | | | 12.38 | % | | | 11.85 | % | | | 11.60 | % | | | 11.60 | % | | | 9.42 | % | | | 9.29 | % | | | 9.08 | % | | | 9.03 | % | | | 9.03 | % | | | 9.56 | % |
Tier 1 common capital / risk-based assets | | | 8.43 | % | | | 8.43 | % | | | 7.36 | % | | | 7.04 | % | | | 6.79 | % | | | 6.79 | % | | | 7.49 | % | | | 7.35 | % | | | 7.14 | % | | | 7.06 | % | | | 7.06 | % | | | 7.57 | % |
Total capital / risk-based assets | | | 15.27 | % | | | 15.27 | % | | | 15.21 | % | | | 14.62 | % | | | 14.36 | % | | | 14.36 | % | | | 12.04 | % | | | 11.87 | % | | | 11.63 | % | | | 11.58 | % | | | 11.58 | % | | | 12.16 | % |
Leverage ratio | | | 10.52 | % | | | 10.52 | % | | | 9.87 | % | | | 9.60 | % | | | 9.41 | % | | | 9.41 | % | | | 7.59 | % | | | 7.56 | % | | | 7.51 | % | | | 7.46 | % | | | 7.46 | % | | | 7.29 | % |
Tangible common equity ratio | | | 6.88 | % | | | 6.88 | % | | | 5.56 | % | | | 5.36 | % | | | 5.23 | % | | | 5.23 | % | | | 5.44 | % | | | 5.45 | % | | | 5.62 | % | | | 5.58 | % | | | 5.58 | % | | | 5.62 | % |
Tangible common equity ratio, excluding OCI | | | 7.10 | % | | | 7.10 | % | | | 6.23 | % | | | 5.83 | % | | | 5.45 | % | | | 5.45 | % | | | 6.09 | % | | | 5.90 | % | | | 5.73 | % | | | 5.73 | % | | | 5.73 | % | | | 5.81 | % |
Tangible common equity / risk-based assets | | | 8.16 | % | | | 8.16 | % | | | 6.57 | % | | | 6.47 | % | | | 6.53 | % | | | 6.53 | % | | | 6.69 | % | | | 6.79 | % | | | 6.99 | % | | | 6.87 | % | | | 6.87 | % | | | 7.32 | % |
Asset Quality Performance Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Non-accrual loans: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Commercial | | $ | 45,134 | | | $ | 45,134 | | | $ | 41,542 | | | $ | 33,245 | | | $ | 15,586 | | | $ | 15,586 | | | $ | 13,961 | | | $ | 5,222 | | | $ | 6,770 | | | $ | 9,128 | | | $ | 9,128 | | | $ | 8,803 | |
Agricultural | | | 2,384 | | | | 2,384 | | | | 452 | | | | 12 | | | | 12 | | | | 12 | | | | 12 | | | | 12 | | | | 12 | | | | 362 | | | | 362 | | | | 18 | |
Real estate - office, retail, and industrial | | | 15,738 | | | | 15,738 | | | | 13,058 | | | | 12,769 | | | | 2,533 | | | | 2,533 | | | | 1,195 | | | | 1,125 | | | | 730 | | | | 552 | | | | 552 | | | | — | |
Real estate - residential construction | | | 138,593 | | | | 138,593 | | | | 143,231 | | | | 107,766 | | | | 97,060 | | | | 97,060 | | | | 28,335 | | | | 11,664 | | | | 4,081 | | | | 107 | | | | 107 | | | | 720 | |
Real estate - multifamily | | | 15,910 | | | | 15,910 | | | | 10,632 | | | | 6,989 | | | | 1,387 | | | | 1,387 | | | | 2,827 | | | | 3,016 | | | | 1,361 | | | | 3,480 | | | | 3,480 | | | | 1,918 | |
Real estate - other commercial | | | 25,818 | | | | 25,818 | | | | 21,262 | | | | 16,013 | | | | 6,914 | | | | 6,914 | | | | 1,833 | | | | 873 | | | | 243 | | | | 1,439 | | | | 1,439 | | | | 1,245 | |
Real estate - 1-4 family | | | 4,975 | | | | 4,975 | | | | 1,034 | | | | 1,756 | | | | 857 | | | | 857 | | | | 795 | | | | 671 | | | | 909 | | | | 583 | | | | 583 | | | | 1,413 | |
Consumer | | | 8,253 | | | | 8,253 | | | | 6,042 | | | | 4,991 | | | | 3,419 | | | | 3,419 | | | | 4,359 | | | | 2,653 | | | | 2,967 | | | | 2,796 | | | | 2,796 | | | | 2,092 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total non-accrual loans | | | 256,805 | | | | 256,805 | | | | 237,253 | | | | 183,541 | | | | 127,768 | | | | 127,768 | | | | 53,317 | | | | 25,236 | | | | 17,073 | | | | 18,447 | | | | 18,447 | | | | 16,209 | |
Loans past due 90 days and still accruing | | | 5,960 | | | | 5,960 | | | | 26,071 | | | | 73,929 | | | | 36,999 | | | | 36,999 | | | | 37,316 | | | | 37,510 | | | | 33,479 | | | | 21,149 | | | | 21,149 | | | | 12,810 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total non-accrual plus 90 days past dues | | | 262,765 | | | | 262,765 | | | | 263,324 | | | | 257,470 | | | | 164,767 | | | | 164,767 | | | | 90,633 | | | | 62,746 | | | | 50,552 | | | | 39,596 | | | | 39,596 | | | | 29,019 | |
Restructured, accruing loans | | | 26,718 | | | | 26,718 | | | | 18,877 | | | | 1,063 | | | | 7,344 | | | | 7,344 | | | | 3,731 | | | | 2,061 | | | | 1,942 | | | | 7,391 | | | | 7,391 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total non-performing loans | | | 289,483 | | | | 289,483 | | | | 282,201 | | | | 258,533 | | | | 172,111 | | | | 172,111 | | | | 94,364 | | | | 64,807 | | | | 52,494 | | | | 46,987 | | | | 46,987 | | | | 29,019 | |
Other real estate owned | | | 57,945 | | | | 57,945 | | | | 50,640 | | | | 38,984 | | | | 24,368 | | | | 24,368 | | | | 23,697 | | | | 7,042 | | | | 8,607 | | | | 6,053 | | | | 6,053 | | | | 2,727 | |
Loans past due 30-89 days and still accruing | | | 44,346 | | | | 44,346 | | | | 38,128 | | | | 54,311 | | | | 116,206 | | | | 116,206 | | | | 104,769 | | | | 185,186 | | | | 116,431 | | | | 100,820 | | | | 100,820 | | | | 88,568 | |
Reserve for loan losses (RLL): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
RLL | | $ | 134,269 | | | $ | 134,269 | | | $ | 127,528 | | | $ | 116,001 | | | $ | 93,869 | | | $ | 93,869 | | | $ | 69,811 | | | $ | 66,104 | | | $ | 64,780 | | | $ | 61,800 | | | $ | 61,800 | | | $ | 62,370 | |
Loan loss provision | | | 122,672 | | | | 38,000 | | | | 36,262 | | | | 48,410 | | | | 70,254 | | | | 42,385 | | | | 13,029 | | | | 5,780 | | | | 9,060 | | | | 7,233 | | | | 2,042 | | | | 10,229 | |
Net charge-offs by category: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Commercial | | | 31,684 | | | | 12,585 | | | | 7,006 | | | | 12,093 | | | | 13,026 | | | | 5,601 | | | | 1,899 | | | | 2,338 | | | | 3,188 | | | | 4,925 | | | | 534 | | | | 5,792 | |
Agricultural | | | — | | | | — | | | | — | | | | — | | | | 38 | | | | — | | | | (4 | ) | | | 42 | | | | — | | | | 10 | | | | 10 | | | | (9 | ) |
Real estate - office, retail, and industrial | | | 4,591 | | | | 3,496 | | | | 217 | | | | 878 | | | | 732 | | | | 699 | | | | 2 | | | | 31 | | | | — | | | | — | | | | — | | | | — | |
Real estate - residential construction | | | 24,327 | | | | 5,181 | | | | 8,427 | | | | 10,719 | | | | 15,780 | | | | 9,227 | | | | 5,856 | | | | 138 | | | | 559 | | | | 231 | | | | 17 | | | | — | |
Real estate - multifamily | | | 1,158 | | | | 29 | | | | 1,086 | | | | 43 | | | | 1,796 | | | | 164 | | | | (40 | ) | | | 830 | | | | 842 | | | | 490 | | | | 372 | | | | 1,050 | |
Real estate - other commercial | | | 9,666 | | | | 6,400 | | | | 3,197 | | | | 69 | | | | 1,248 | | | | 397 | | | | 62 | | | | 116 | | | | 673 | | | | (34 | ) | | | (21 | ) | | | 344 | |
Real estate - 1-4 family | | | 762 | | | | 216 | | | | 326 | | | | 220 | | | | 576 | | | | 57 | | | | 239 | | | | 104 | | | | 176 | | | | 145 | | | | — | | | | 138 | |
Consumer | | | 10,084 | | | | 3,352 | | | | 4,476 | | | | 2,256 | | | | 4,989 | | | | 2,182 | | | | 1,308 | | | | 857 | | | | 642 | | | | 2,036 | | | | 742 | | | | 2,872 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total net charge-offs | | | 82,272 | | | | 31,259 | | | | 24,735 | | | | 26,278 | | | | 38,185 | | | | 18,327 | | | | 9,322 | | | | 4,456 | | | | 6,080 | | | | 7,803 | | | | 1,654 | | | | 10,187 | |
Asset Quality ratios: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Non-accrual loans / loans | | | 4.84 | % | | | 4.84 | % | | | 4.44 | % | | | 3.41 | % | | | 2.38 | % | | | 2.38 | % | | | 1.02 | % | | | 0.49 | % | | | 0.34 | % | | | 0.37 | % | | | 0.37 | % | | | 0.32 | % |
Non-accrual + 90-day past due loans / loans | | | 4.95 | % | | | 4.95 | % | | | 4.93 | % | | | 4.78 | % | | | 3.07 | % | | | 3.07 | % | | | 1.74 | % | | | 1.21 | % | | | 1.00 | % | | | 0.80 | % | | | 0.80 | % | | | 0.58 | % |
Non-performing loans / loans | | | 5.46 | % | | | 5.46 | % | | | 5.28 | % | | | 4.80 | % | | | 3.21 | % | | | 3.21 | % | | | 1.81 | % | | | 1.25 | % | | | 1.04 | % | | | 0.95 | % | | | 0.95 | % | | | 0.58 | % |
Non-accrual loans / total assets | | | 3.34 | % | | | 3.34 | % | | | 3.05 | % | | | 2.22 | % | | | 1.50 | % | | | 1.50 | % | | | 0.65 | % | | | 0.30 | % | | | 0.21 | % | | | 0.23 | % | | | 0.23 | % | | | 0.19 | % |
Loan loss ratios: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
RLL / loans | | | 2.53 | % | | | 2.53 | % | | | 2.39 | % | | | 2.15 | % | | | 1.75 | % | | | 1.75 | % | | | 1.34 | % | | | 1.28 | % | | | 1.28 | % | | | 1.25 | % | | | 1.25 | % | | | 1.25 | % |
RLL / non-accrual loans | | | 52.28 | % | | | 52.28 | % | | | 53.75 | % | | | 63.20 | % | | | 73.47 | % | | | 73.47 | % | | | 130.94 | % | | | 261.94 | % | | | 379.43 | % | | | 335.01 | % | | | 335.01 | % | | | 384.79 | % |
RLL / non-accrual + 90-day past due loans | | | 51.10 | % | | | 51.10 | % | | | 48.43 | % | | | 45.05 | % | | | 56.97 | % | | | 56.97 | % | | | 77.03 | % | | | 105.35 | % | | | 128.15 | % | | | 156.08 | % | | | 156.08 | % | | | 214.93 | % |
RLL / non-performing loans | | | 46.38 | % | | | 46.38 | % | | | 45.19 | % | | | 44.87 | % | | | 54.54 | % | | | 54.54 | % | | | 73.98 | % | | | 102.00 | % | | | 123.40 | % | | | 131.53 | % | | | 131.53 | % | | | 214.93 | % |
Net charge-offs to average net loans | | | 2.05 | % | | | 2.32 | % | | | 1.85 | % | | | 1.98 | % | | | 0.74 | % | | | 1.38 | % | | | 0.71 | % | | | 0.35 | % | | | 0.49 | % | | | 0.16 | % | | | 0.13 | % | | | 0.21 | % |
Footnotes:
(1) Tax equivalent basis reflects federal and state tax benefits.
(2) Annualized based on the number of days outstanding for each period presented.