Exhibit 99.2
PROVIDENT BANKSHARES CORPORATION AND SUBSIDIARIES
ASSET QUALITY DETAIL
| (dollars in thousands) | March 31, 2008 | March 31, 2007 | December 31, 2007 | |||||||||
Loan Portfolio: | ||||||||||||
Originated and acquired residential mortgage | $ | 280,772 | $ | 319,437 | $ | 296,783 | ||||||
Home equity | 1,081,953 | 1,003,666 | 1,082,819 | |||||||||
Marine | 360,343 | 374,206 | 352,604 | |||||||||
Other | 26,287 | 25,065 | 26,101 | |||||||||
Total consumer | 1,749,355 | 1,722,374 | 1,758,307 | |||||||||
Commercial mortgage | 488,309 | 454,096 | 439,229 | |||||||||
Residential real estate construction | 596,698 | 586,127 | 631,063 | |||||||||
Commercial real estate construction | 445,475 | 369,657 | 447,394 | |||||||||
Commercial business | 922,840 | 758,167 | 939,333 | |||||||||
Total commercial | 2,453,322 | 2,168,047 | 2,457,019 | |||||||||
Total loans | $ | 4,202,677 | $ | 3,890,421 | $ | 4,215,326 | ||||||
Non-Performing Assets: | ||||||||||||
Originated and acquired residential mortgage | $ | 7,719 | $ | 7,910 | $ | 7,511 | ||||||
Home equity | 1,319 | 542 | 1,737 | |||||||||
Other consumer | — | 673 | — | |||||||||
Commercial mortgage | 1,335 | 1,335 | 1,335 | |||||||||
Residential real estate construction | 9,478 | — | 7,923 | |||||||||
Commercial business | 10,770 | 10,259 | 12,742 | |||||||||
Total non-accrual loans | 30,621 | 20,719 | 31,248 | |||||||||
Total renegotiated loans | — | — | — | |||||||||
Total non-performing loans | 30,621 | 20,719 | 31,248 | |||||||||
Non-performing investments | 2,580 | — | — | |||||||||
Other assets and real estate owned | 3,785 | 3,117 | 2,664 | |||||||||
Total non-performing assets | $ | 36,986 | $ | 23,836 | $ | 33,912 | ||||||
90-Day Delinquencies: | ||||||||||||
Originated and acquired residential mortgage | $ | 1,722 | $ | 1,795 | $ | 2,149 | ||||||
Home equity | 1,995 | 683 | 1,281 | |||||||||
Other consumer | 2,297 | 994 | 321 | |||||||||
Commercial mortgage | 410 | — | — | |||||||||
Residential real estate construction | 1,350 | 18 | — | |||||||||
Commercial business | 561 | 8 | 79 | |||||||||
Total 90-day delinquencies | $ | 8,335 | $ | 3,498 | $ | 3,830 | ||||||
Asset Quality Ratios: | ||||||||||||
Non-performing loans to total loans | 0.73 | % | 0.53 | % | 0.74 | % | ||||||
Non-performing investments to total investments | 0.18 | % | — | — | ||||||||
Non-performing assets to total assets | 0.58 | % | 0.38 | % | 0.52 | % | ||||||
Allowance for loan losses to loans | 1.31 | % | 1.17 | % | 1.31 | % | ||||||
Net charge-offs in quarter to average loans | 0.30 | % | 0.08 | % | 0.58 | % | ||||||
Allowance for loan losses to non-performing loans | 180.43 | % | 219.70 | % | 176.87 | % | ||||||
| Three Months Ended December 31, 2007 | ||||||||||||
| Three Months Ended March 31, | ||||||||||||
| 2008 | 2007 | |||||||||||
Analysis of Allowance for Loan Losses: | ||||||||||||
Balance at beginning of period | $ | 55,269 | $ | 45,203 | $ | 51,244 | ||||||
Provision for loan losses | 3,114 | 1,052 | 10,027 | |||||||||
Less loans charged-off, net of recoveries: | ||||||||||||
Originated and acquired residential mortgage | 225 | 138 | 221 | |||||||||
Home equity | 237 | 26 | 390 | |||||||||
Other consumer | 438 | 465 | 873 | |||||||||
Residential real estate construction | 320 | — | — | |||||||||
Commercial business | 1,914 | 107 | 4,518 | |||||||||
Net charge-offs | 3,134 | 736 | 6,002 | |||||||||
Balance at end of period | $ | 55,249 | $ | 45,519 | $ | 55,269 | ||||||
PROVIDENT BANKSHARES CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
| Three Months Ended March 31, | |||||||
| (dollars in thousands, except per share data) | 2008 | 2007 | |||||
Interest Income: | |||||||
Loans, including fees | $ | 66,369 | $ | 69,254 | |||
Investment securities | 19,731 | 22,378 | |||||
Tax-advantaged loans and securities | 1,639 | 1,467 | |||||
Short-term investments | 36 | 97 | |||||
Total interest income | 87,775 | 93,196 | |||||
Interest Expense: | |||||||
Deposits | 28,210 | 25,554 | |||||
Short-term borrowings | 6,089 | 7,742 | |||||
Long-term debt | 8,487 | 10,965 | |||||
Total interest expense | 42,786 | 44,261 | |||||
Net interest income | 44,989 | 48,935 | |||||
Less provision for loan losses | 3,114 | 1,052 | |||||
Net interest income, after provision for loan losses | 41,875 | 47,883 | |||||
Non-Interest Income: | |||||||
Service charges on deposit accounts | 21,031 | 22,179 | |||||
Commissions and fees | 1,562 | 1,662 | |||||
Impairment on investment securities | (42,655 | ) | — | ||||
Net gains (losses) | (191 | ) | 1,203 | ||||
Net derivative activities | 39 | 143 | |||||
Other non-interest income | 5,090 | 4,682 | |||||
Total non-interest income (loss) | (15,124 | ) | 29,869 | ||||
Non-Interest Expense: | |||||||
Salaries and employee benefits | 26,682 | 27,929 | |||||
Occupancy expense, net | 5,972 | 6,104 | |||||
Furniture and equipment expense | 3,753 | 3,785 | |||||
External processing fees | 5,248 | 5,090 | |||||
Restructuring activities | 74 | 867 | |||||
Other non-interest expense | 9,702 | 10,993 | |||||
Total non-interest expense | 51,431 | 54,768 | |||||
Income (loss) before income taxes | (24,680 | ) | 22,984 | ||||
Income tax expense (benefit) | (7,058 | ) | 6,870 | ||||
Net income (loss) | $ | (17,622 | ) | $ | 16,114 | ||
Net Income (Loss) Per Share Amounts: | |||||||
Basic | $ | (0.56 | ) | $ | 0.50 | ||
Diluted | (0.56 | ) | 0.50 | ||||
PROVIDENT BANKSHARES CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CONDITION
| (dollars in thousands, except share amounts) | March 31, 2008 | December 31, 2007 | March 31, 2007 | |||||||||
Assets: | ||||||||||||
Cash and due from banks | $ | 125,731 | $ | 140,348 | $ | 124,528 | ||||||
Short-term investments | 2,011 | 1,970 | 2,603 | |||||||||
Mortgage loans held for sale | 15,541 | 8,859 | 12,356 | |||||||||
Securities available for sale | 1,366,779 | 1,421,299 | 1,569,279 | |||||||||
Securities held to maturity | 47,146 | 47,265 | 68,904 | |||||||||
Loans | 4,202,677 | 4,215,326 | 3,890,421 | |||||||||
Less allowance for loan losses | 55,249 | 55,269 | 45,519 | |||||||||
Net loans | 4,147,428 | 4,160,057 | 3,844,902 | |||||||||
Premises and equipment, net | 59,523 | 59,979 | 64,670 | |||||||||
Accrued interest receivable | 29,753 | 33,883 | 34,997 | |||||||||
Goodwill | 253,906 | 253,906 | 253,906 | |||||||||
Intangible assets | 5,836 | 6,152 | 8,515 | |||||||||
Other assets | 350,262 | 331,328 | 250,032 | |||||||||
Total assets | $ | 6,403,916 | $ | 6,465,046 | $ | 6,234,692 | ||||||
Liabilities: | ||||||||||||
Deposits: | ||||||||||||
Noninterest-bearing | $ | 686,289 | $ | 676,260 | $ | 769,081 | ||||||
Interest-bearing | 3,684,338 | 3,503,260 | 3,513,319 | |||||||||
Total deposits | 4,370,627 | 4,179,520 | 4,282,400 | |||||||||
Short-term borrowings | 684,946 | 861,395 | 498,118 | |||||||||
Long-term debt | 771,640 | 771,683 | 781,776 | |||||||||
Accrued expenses and other liabilities | 59,154 | 96,677 | 36,601 | |||||||||
Total liabilities | 5,886,367 | 5,909,275 | 5,598,895 | |||||||||
Stockholders’ Equity: | ||||||||||||
Common stock (par value $1.00) authorized 100,000,000 shares; issued 31,737,501, 31,621,956 and 32,243,534 shares at March 31, 2008, December 31, 2007, and March 31, 2007, respectively | 31,738 | 31,622 | 32,244 | |||||||||
Additional paid-in capital | 347,992 | 347,603 | 362,224 | |||||||||
Retained earnings | 216,700 | 244,723 | 259,115 | |||||||||
Net accumulated other comprehensive loss | (78,881 | ) | (68,177 | ) | (17,786 | ) | ||||||
Total stockholders’ equity | 517,549 | 555,771 | 635,797 | |||||||||
Total liabilities and stockholders’ equity | $ | 6,403,916 | $ | 6,465,046 | $ | 6,234,692 | ||||||
Provident Bankshares Corporation
Consolidated Average Balances and Analysis of Changes in Tax Equivalent Net Interest Income
| 2008/2007 Income/Expense Variance Due to Change In | ||||||||||||||||||||||||||||||||||||||||
| Three Months Ended March 31, 2008 | Three Months Ended March 31, 2007 | 2008 Quarter to 2007 Quarter Increase/(Decrease) | ||||||||||||||||||||||||||||||||||||||
(dollars in thousands) (tax-equivalent basis) | Average Balance | Income/ Expense | Yield/ Rate | Average Balance | Income/ Expense | Yield/ Rate | Average Balance | % Change | Income/ Expense | % Change | Average Rate | Average Volume | ||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||||||||||
Interest-earning assets: | ||||||||||||||||||||||||||||||||||||||||
Originated and acquired residential | $ | 290,093 | $ | 4,411 | 6.12 | % | $ | 325,377 | $ | 5,072 | 6.32 | % | $ | (35,284 | ) | (10.8 | )% | $ | (661 | ) | (13.0 | )% | $ | (153 | ) | $ | (508 | ) | ||||||||||||
Home equity | 1,085,752 | 15,682 | 5.81 | 996,519 | 17,072 | 6.95 | 89,233 | 9.0 | (1,390 | ) | (8.1 | ) | (2,893 | ) | 1,503 | |||||||||||||||||||||||||
Marine | 357,963 | 4,927 | 5.54 | 373,271 | 5,017 | 5.45 | (15,308 | ) | (4.1 | ) | (90 | ) | (1.8 | ) | 89 | (179 | ) | |||||||||||||||||||||||
Other consumer | 24,962 | 460 | 7.41 | 27,678 | 549 | 8.04 | (2,716 | ) | (9.8 | ) | (89 | ) | (16.2 | ) | (40 | ) | (49 | ) | ||||||||||||||||||||||
Commercial mortgage | 445,465 | 7,335 | 6.62 | 450,402 | 7,991 | 7.20 | (4,937 | ) | (1.1 | ) | (656 | ) | (8.2 | ) | (577 | ) | (79 | ) | ||||||||||||||||||||||
Residential construction | 613,126 | 10,241 | 6.72 | 585,987 | 12,615 | 8.73 | 27,139 | 4.6 | (2,374 | ) | (18.8 | ) | (2,958 | ) | 584 | |||||||||||||||||||||||||
Commercial construction | 475,882 | 7,385 | 6.24 | 371,302 | 7,263 | 7.93 | 104,580 | 28.2 | 122 | 1.7 | (1,725 | ) | 1,847 | |||||||||||||||||||||||||||
Commercial business | 936,933 | 15,932 | 6.84 | 740,810 | 13,732 | 7.52 | 196,123 | 26.5 | 2,200 | 16.0 | (1,305 | ) | 3,505 | |||||||||||||||||||||||||||
Total loans | 4,230,176 | 66,373 | 6.31 | 3,871,346 | 69,311 | 7.26 | 358,830 | 9.3 | (2,938 | ) | (4.2 | ) | ||||||||||||||||||||||||||||
Loans held for sale | 9,810 | 155 | 6.35 | 11,016 | 176 | 6.48 | (1,206 | ) | (10.9 | ) | (21 | ) | (11.9 | ) | (3 | ) | (18 | ) | ||||||||||||||||||||||
Short-term investments | 2,718 | 36 | 5.33 | 4,039 | 97 | 9.74 | (1,321 | ) | (32.7 | ) | (61 | ) | (62.9 | ) | (35 | ) | (26 | ) | ||||||||||||||||||||||
Taxable investment securities | 1,425,086 | 19,731 | 5.57 | 1,525,929 | 22,378 | 5.95 | (100,843 | ) | (6.6 | ) | (2,647 | ) | (11.8 | ) | (1,299 | ) | (1,348 | ) | ||||||||||||||||||||||
Tax-advantaged investment securities | 154,757 | 2,433 | 6.32 | 137,406 | 1,886 | 5.57 | 17,351 | 12.6 | 547 | 29.0 | 284 | 263 | ||||||||||||||||||||||||||||
Total investment securities | 1,579,843 | 22,164 | 5.64 | 1,663,335 | 24,264 | 5.92 | (83,492 | ) | (5.0 | ) | (2,100 | ) | (8.7 | ) | ||||||||||||||||||||||||||
Total interest-earning assets | 5,822,547 | 88,728 | 6.13 | 5,549,736 | 93,848 | 6.86 | 272,811 | 4.9 | (5,120 | ) | (5.5 | ) | (9,863 | ) | 4,743 | |||||||||||||||||||||||||
Less: allowance for loan losses | 55,171 | 45,248 | 9,923 | 21.9 | ||||||||||||||||||||||||||||||||||||
Cash and due from banks | 101,630 | 112,091 | (10,461 | ) | (9.3 | ) | ||||||||||||||||||||||||||||||||||
Other assets | 642,323 | 617,919 | 24,404 | 3.9 | ||||||||||||||||||||||||||||||||||||
Total assets | $ | 6,511,329 | $ | 6,234,498 | $ | 276,831 | 4.4 | |||||||||||||||||||||||||||||||||
Liabilities and Stockholders’ Equity: | ||||||||||||||||||||||||||||||||||||||||
Interest-bearing liabilities: | ||||||||||||||||||||||||||||||||||||||||
Interest-bearing demand deposits | $ | 458,059 | 543 | 0.48 | $ | 518,115 | 652 | 0.51 | $ | (60,056 | ) | (11.6 | ) | (109 | ) | (16.7 | ) | (40 | ) | (69 | ) | |||||||||||||||||||
Money market deposits | 653,693 | 4,477 | 2.75 | 542,751 | 4,472 | 3.34 | 110,942 | 20.4 | 5 | 0.1 | (850 | ) | 855 | |||||||||||||||||||||||||||
Savings deposits | 518,370 | 508 | 0.39 | 598,591 | 591 | 0.40 | (80,221 | ) | (13.4 | ) | (83 | ) | (14.0 | ) | (9 | ) | (74 | ) | ||||||||||||||||||||||
Direct time deposits | 1,085,109 | 11,472 | 4.25 | 1,184,343 | 13,295 | 4.55 | (99,234 | ) | (8.4 | ) | (1,823 | ) | (13.7 | ) | (803 | ) | (1,020 | ) | ||||||||||||||||||||||
Brokered time deposits | 874,356 | 11,210 | 5.16 | 526,907 | 6,544 | 5.04 | 347,449 | 65.9 | 4,666 | 71.3 | 162 | 4,504 | ||||||||||||||||||||||||||||
Short-term borrowings | 811,651 | 6,089 | 3.02 | 662,715 | 7,742 | 4.74 | 148,936 | 22.5 | (1,653 | ) | (21.4 | ) | (3,189 | ) | 1,536 | |||||||||||||||||||||||||
Long-term debt | 771,672 | 8,487 | 4.42 | 793,976 | 10,965 | 5.60 | (22,304 | ) | (2.8 | ) | (2,478 | ) | (22.6 | ) | (2,186 | ) | (292 | ) | ||||||||||||||||||||||
Total interest-bearing liabilities | 5,172,910 | 42,786 | 3.33 | 4,827,398 | 44,261 | 3.72 | 345,512 | 7.2 | (1,475 | ) | (3.3 | ) | (4,683 | ) | 3,208 | |||||||||||||||||||||||||
Noninterest-bearing demand deposits | 643,161 | 724,805 | (81,644 | ) | (11.3 | ) | ||||||||||||||||||||||||||||||||||
Other liabilities | 75,349 | 42,459 | 32,890 | 77.5 | ||||||||||||||||||||||||||||||||||||
Stockholders’ equity | 619,909 | 639,836 | (19,927 | ) | (3.1 | ) | ||||||||||||||||||||||||||||||||||
Total liabilities and stockholders’ equity | $ | 6,511,329 | $ | 6,234,498 | $ | 276,831 | 4.4 | |||||||||||||||||||||||||||||||||
Net interest-earning assets | $ | 649,637 | $ | 722,338 | $ | (72,701 | ) | (10.1 | ) | |||||||||||||||||||||||||||||||
Net interest income (tax-equivalent) | 45,942 | 49,587 | (3,645 | ) | (7.4 | ) | $ | (5,180 | ) | $ | 1,535 | |||||||||||||||||||||||||||||
Less: tax-equivalent adjustment | 953 | 652 | 301 | 46.2 | ||||||||||||||||||||||||||||||||||||
Net interest income | $ | 44,989 | $ | 48,935 | $ | (3,946 | ) | (8.1 | ) | |||||||||||||||||||||||||||||||
Net yield on interest-earning assets on a tax-equivalent basis | 3.17 | % | 3.62 | % | ||||||||||||||||||||||||||||||||||||
Provident Bankshares Corporation
Consolidated Average Balances and Analysis of Changes in Tax Equivalent Net Interest Income
| Three Months Ended March 31, 2008 | Three Months Ended December 31, 2007 | Current Quarter to Prior Quarter Increase/(Decrease) | Quarter to Quarter Income/Expense Variance Due to Change In | |||||||||||||||||||||||||||||||||||||
| (dollars in thousands) (tax-equivalent basis) | Average Balance | Income/ Expense | Yield/ Rate | Average Balance | Income/ Expense | Yield/ Rate | Average Balance | % Change | Income/ Expense | % Change | Average Rate | Average Volume | ||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||||||||||
Interest-earning assets: | ||||||||||||||||||||||||||||||||||||||||
Originated and acquired residential | $ | 290,093 | $ | 4,411 | 6.12 | % | $ | 297,801 | $ | 4,560 | 6.07 | % | $ | (7,708 | ) | (2.6 | )% | $ | (149 | ) | (3.3 | )% | $ | 17 | $ | (166 | ) | |||||||||||||
Home equity | 1,085,752 | 15,682 | 5.81 | 1,074,345 | 17,664 | 6.52 | 11,407 | 1.1 | (1,982 | ) | (11.2 | ) | (2,144 | ) | 162 | |||||||||||||||||||||||||
Marine | 357,963 | 4,927 | 5.54 | 353,445 | 4,941 | 5.55 | 4,518 | 1.3 | (14 | ) | (0.3 | ) | (18 | ) | 4 | |||||||||||||||||||||||||
Other consumer | 24,962 | 460 | 7.41 | 27,861 | 501 | 7.13 | (2,899 | ) | (10.4 | ) | (41 | ) | (8.2 | ) | 17 | (58 | ) | |||||||||||||||||||||||
Commercial mortgage | 445,465 | 7,335 | 6.62 | 438,676 | 7,770 | 7.03 | 6,789 | 1.5 | (435 | ) | (5.6 | ) | (530 | ) | 95 | |||||||||||||||||||||||||
Residential construction | 613,126 | 10,241 | 6.72 | 627,003 | 12,465 | 7.89 | (13,877 | ) | (2.2 | ) | (2,224 | ) | (17.8 | ) | (1,935 | ) | (289 | ) | ||||||||||||||||||||||
Commercial construction | 475,882 | 7,385 | 6.24 | 438,346 | 8,256 | 7.47 | 37,536 | 8.6 | (871 | ) | (10.5 | ) | (1,491 | ) | 620 | |||||||||||||||||||||||||
Commercial business | 936,933 | 15,932 | 6.84 | 843,727 | 15,547 | 7.31 | 93,206 | 11.0 | 385 | 2.5 | (1,107 | ) | 1,492 | |||||||||||||||||||||||||||
Total loans | 4,230,176 | 66,373 | 6.31 | 4,101,204 | 71,704 | 6.94 | 128,972 | 3.1 | (5,331 | ) | (7.4 | ) | ||||||||||||||||||||||||||||
Loans held for sale | 9,810 | 155 | 6.35 | 8,957 | 145 | 6.42 | 853 | 9.5 | 10 | 6.9 | (2 | ) | 12 | |||||||||||||||||||||||||||
Short-term investments | 2,718 | 36 | 5.33 | 2,759 | 39 | 5.61 | (41 | ) | (1.5 | ) | (3 | ) | (7.7 | ) | (2 | ) | (1 | ) | ||||||||||||||||||||||
Taxable investment securities | 1,425,086 | 19,731 | 5.57 | 1,439,835 | 20,850 | 5.75 | (14,749 | ) | (1.0 | ) | (1,119 | ) | (5.4 | ) | (839 | ) | (280 | ) | ||||||||||||||||||||||
Tax-advantaged investment securities | 154,757 | 2,433 | 6.32 | 172,410 | 2,534 | 5.83 | (17,653 | ) | (10.2 | ) | (101 | ) | (4.0 | ) | 186 | (287 | ) | |||||||||||||||||||||||
Total investment securities | 1,579,843 | 22,164 | 5.64 | 1,612,245 | 23,384 | 5.75 | (32,402 | ) | (2.0 | ) | (1,220 | ) | (5.2 | ) | ||||||||||||||||||||||||||
Total interest-earning assets | 5,822,547 | 88,728 | 6.13 | 5,725,165 | 95,272 | 6.60 | 97,382 | 1.7 | (6,544 | ) | (6.9 | ) | (7,872 | ) | 1,328 | |||||||||||||||||||||||||
Less: allowance for loan losses | 55,171 | 50,932 | 4,239 | 8.3 | ||||||||||||||||||||||||||||||||||||
Cash and due from banks | 101,630 | 111,846 | (10,216 | ) | (9.1 | ) | ||||||||||||||||||||||||||||||||||
Other assets | 642,323 | 619,658 | 22,665 | 3.7 | ||||||||||||||||||||||||||||||||||||
Total assets | $ | 6,511,329 | $ | 6,405,737 | $ | 105,592 | 1.6 | |||||||||||||||||||||||||||||||||
Liabilities and Stockholders’ Equity: | ||||||||||||||||||||||||||||||||||||||||
Interest-bearing liabilities: | ||||||||||||||||||||||||||||||||||||||||
Interest-bearing demand deposits | $ | 458,059 | 543 | 0.48 | $ | 456,394 | 772 | 0.67 | $ | 1,665 | 0.4 | (229 | ) | (29.7 | ) | (232 | ) | 3 | ||||||||||||||||||||||
Money market deposits | 653,693 | 4,477 | 2.75 | 657,156 | 5,836 | 3.52 | (3,463 | ) | (0.5 | ) | (1,359 | ) | (23.3 | ) | (1,327 | ) | (32 | ) | ||||||||||||||||||||||
Savings deposits | 518,370 | 508 | 0.39 | 525,533 | 514 | 0.39 | (7,163 | ) | (1.4 | ) | (6 | ) | (1.2 | ) | 4 | (10 | ) | |||||||||||||||||||||||
Direct time deposits | 1,085,109 | 11,472 | 4.25 | 1,136,192 | 13,007 | 4.54 | (51,083 | ) | (4.5 | ) | (1,535 | ) | (11.8 | ) | (900 | ) | (635 | ) | ||||||||||||||||||||||
Brokered time deposits | 874,356 | 11,210 | 5.16 | 709,140 | 9,308 | 5.21 | 165,216 | 23.3 | 1,902 | 20.4 | (96 | ) | 1,998 | |||||||||||||||||||||||||||
Short-term borrowings | 811,651 | 6,089 | 3.02 | 799,356 | 8,285 | 4.11 | 12,295 | 1.5 | (2,196 | ) | (26.5 | ) | (2,314 | ) | 118 | |||||||||||||||||||||||||
Long-term debt | 771,672 | 8,487 | 4.42 | 771,714 | 10,751 | 5.53 | (42 | ) | (0.0 | ) | (2,264 | ) | (21.1 | ) | (2,263 | ) | (1 | ) | ||||||||||||||||||||||
Total interest-bearing liabilities | 5,172,910 | 42,786 | 3.33 | 5,055,485 | 48,473 | 3.80 | 117,425 | 2.3 | (5,687 | ) | (11.7 | ) | (6,673 | ) | 986 | |||||||||||||||||||||||||
Noninterest-bearing demand deposits | 643,161 | 660,576 | (17,415 | ) | (2.6 | ) | ||||||||||||||||||||||||||||||||||
Other liabilities | 75,349 | 42,741 | 32,608 | 76.3 | ||||||||||||||||||||||||||||||||||||
Stockholders’ equity | 619,909 | 646,935 | (27,026 | ) | (4.2 | ) | ||||||||||||||||||||||||||||||||||
Total liabilities and stockholders’ equity | $ | 6,511,329 | $ | 6,405,737 | $ | 105,592 | 1.6 | |||||||||||||||||||||||||||||||||
Net interest-earning assets | $ | 649,637 | $ | 669,680 | $ | (20,043 | ) | (3.0 | ) | |||||||||||||||||||||||||||||||
Net interest income (tax-equivalent) | 45,942 | 46,799 | (857 | ) | (1.8 | ) | $ | (1,199 | ) | $ | 342 | |||||||||||||||||||||||||||||
Less: tax-equivalent adjustment | 953 | 887 | 66 | 7.4 | ||||||||||||||||||||||||||||||||||||
Net interest income | $ | 44,989 | $ | 45,912 | $ | (923 | ) | (2.0 | ) | |||||||||||||||||||||||||||||||
Net yield on interest-earning assets on a tax-equivalent basis | 3.17 | % | 3.24 | % | ||||||||||||||||||||||||||||||||||||
