CoBiz Financial  CoBiz Financial CoBiz Financial
CoBiz Financial  CoBiz Financial CoBiz Financial

Income Statement

COBIZ FINANCIAL INC. (NASDAQ - COBZ) 
  2013 Y 2014 Y 2015 Y 2016 Y
Source Document 12/31/2015 12/31/2016 12/31/2016 12/31/2016
Currency Code USD USD USD USD
(in thousands)        
         
INTEREST INCOME 
Interest and fees on loans  89,071 98,627 107,622 114,612
Interest and dividends on investment securities 
Taxable securities  16,607 14,810 12,487 11,713
Nontaxable securities  38 271 609 730
Dividends on securities  294 507 432 561
Interest on federal funds sold and other  117 102 116 166
Total interest income  106,127 114,317 121,266 127,782
INTEREST EXPENSE 
Interest on deposits  4,616 3,866 3,640 3,854
Interest on short-term borrowings and securities sold under agreements to repurchase  450 441 214 494
Interest on subordinated debentures and notes payable  5,360 4,122 5,736 7,383
Total interest expense  10,426 8,429 9,590 11,731
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES  95,701 105,888 111,676 116,051
Provision for loan losses  (8,804) (4,155) 6,420 (2,101)
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES  104,505 110,043 105,256 118,152
NONINTEREST INCOME 
Service charges  5,315 5,598 5,862 6,059
Investment advisory income  5,077 5,736 5,832 5,714
Insurance income  11,199 11,150 12,047 12,568
Other income  7,015 5,425 6,926 9,819
Total noninterest income  28,606 27,909 30,667 34,160
NONINTEREST EXPENSE 
Salaries and employee benefits  61,753 66,008 69,526 71,471
Occupancy expenses, premises and equipment  12,831 13,100 13,079 14,966
Amortization of intangibles  662 597 600 600
FDIC and other assessments  1,690 1,737 1,813 1,692
Other real estate owned and loan workout costs  715 1,066 388 512
Net gain on securities, other assets and other real estate owned  683 (2,597) (369) (121)
Other expense  12,578 14,225 15,140 16,111
Total noninterest expense  90,912 94,136 100,177 105,231
INCOME BEFORE INCOME TAXES  42,199 43,816 35,746 47,081
Provision for income taxes  13,909 15,018 9,606 12,182
NET INCOME FROM CONTINUING OPERATIONS  28,290 28,798 26,140 34,899
DISCONTINUED OPERATIONS 
Income (loss) from discontinued operations  (1,151) 338 (113) 0
Provision (benefit) for income taxes  (472) 129 (42) 0
Net income (loss) from discontinued operations  (679) 209 (71) 0
NET INCOME  27,611 29,007 26,069 34,899
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS  26,667 28,433 25,749 34,899
EARNINGS PER COMMON SHARE 
Basic - Continuing  0.68 0.69 0.63 0.84
Diluted - Continuing  0.68 0.69 0.62 0.84
Basic - Discontinued  (0.02) 0.01 0.00 0
Diluted - Discontinued  (0.02) 0.01 0.00 0
Basic  0.66 0.7 0.63 0.84
Diluted  0.66 0.7 0.62 0.84
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 
Net income  27,611 29,007 26,069 34,899
Other comprehensive income (loss) items 
Available for sale securities 
Net unrealized gain (loss)  (8,183) 4,491 358 (13)
Reclassification to operations  (439) (1,154) (318) (94)
Net unrealized holding gains transferred to held to maturity  0 0 (8,821) 0
Total  (8,622) 3,337 (8,781) (107)
Held to maturity securities 
Net unrealized gain on securities transferred  0 0 8,821 0
Reclassification to operations  0 0 (1,904) (1,831)
Total  0 0 6,917 (1,831)
Cash flow hedges 
Net unrealized loss  3,126 (2,067) (905) (3,504)
Reclassification to operations  2,095 1,310 1,082 1,060
Total  5,221 (757) 177 (2,444)
Total other comprehensive income (loss) items  (3,401) 2,580 (1,687) (4,382)
Income tax provision 
Available for sale securities 
Net unrealized gain (loss)  (3,110) 1,708 136 (5)
Reclassification to operations  (167) (439) (121) (36)
Net unrealized holding gains transferred to held to maturity  0 0 (3,352) 0
Total  (3,277) 1,269 (3,337) (41)
Held to maturity securities 
Net unrealized gain on securities transferred  0 0 3,352 0
Reclassification to operations  0 0 (724) (696)
Total  0 0 2,628 (696)
Cash flow hedges 
Net unrealized loss  1,188 (785) (344) (1,332)
Reclassification to operations  796 498 411 404
Total  1,984 (287) 67 (928)
Total income tax (provision) benefit  (1,293) 982 (642) (1,665)
Other comprehensive income (loss), net of tax  (2,108) 1,598 (1,045) (2,717)
Comprehensive income  25,503 30,605 25,024 32,182


Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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CoBiz Financial
1401 Lawrence St., Ste. 1200
Denver, CO 80202
303.312.3412
info@cobizfinancial.com

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