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 2017 Q2 YTD
Source Document 12/31/2015 12/31/2016 12/31/2016 12/31/2016 6/30/2017
Currency Code USD USD USD USD USD
(in thousands)          
           
INTEREST INCOME 
Interest and fees on loans  89,071 98,627 107,622 114,612 60,796
Interest and dividends on investment securities 
Taxable securities  16,607 14,810 12,487 11,713 6,799
Nontaxable securities  38 271 609 730 381
Dividends on securities  294 507 432 561 401
Interest on federal funds sold and other  117 102 116 166 110
Total interest income  106,127 114,317 121,266 127,782 68,487
INTEREST EXPENSE 
Interest on deposits  4,616 3,866 3,640 3,854 1,942
Interest on short-term borrowings and securities sold under agreements to repurchase  450 441 214 494 786
Interest on subordinated debentures and notes payable  5,360 4,122 5,736 7,383 3,676
Total interest expense  10,426 8,429 9,590 11,731 6,404
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES  95,701 105,888 111,676 116,051 62,083
Provision for loan losses  (8,804) (4,155) 6,420 (2,101) 1,280
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES  104,505 110,043 105,256 118,152 60,803
NONINTEREST INCOME 
Service charges  5,315 5,598 5,862 6,059 3,459
Investment advisory income  5,077 5,736 5,832 5,714 3,031
Insurance income  11,199 11,150 12,047 12,568 6,549
Other income  7,015 5,425 6,926 9,819 3,600
Total noninterest income  28,606 27,909 30,667 34,160 16,639
NONINTEREST EXPENSE 
Salaries and employee benefits  61,753 66,008 69,526 71,471 37,455
Occupancy expenses, premises and equipment  12,831 13,100 13,079 14,966 7,290
Amortization of intangibles  662 597 600 600 300
FDIC and other assessments  1,690 1,737 1,813 1,692 599
Other real estate owned and loan workout costs  715 1,066 388 512 182
Net (gain) loss on securities, other assets and other real estate owned  683 (2,597) (369) (121) (313)
Other expense  12,578 14,225 15,140 16,111 8,256
Total noninterest expense  90,912 94,136 100,177 105,231 53,769
INCOME BEFORE INCOME TAXES  42,199 43,816 35,746 47,081 23,673
Provision for income taxes  13,909 15,018 9,606 12,182 5,570
NET INCOME FROM CONTINUING OPERATIONS  28,290 28,798 26,140 34,899 NA
DISCONTINUED OPERATIONS 
Income (loss) from discontinued operations  (1,151) 338 (113) 0 NA
Provision (benefit) for income taxes  (472) 129 (42) 0 NA
Net income (loss) from discontinued operations  (679) 209 (71) 0 NA
NET INCOME  27,611 29,007 26,069 34,899 18,103
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS  26,667 28,433 25,749 34,899 NA
EARNINGS PER COMMON SHARE 
Basic - Continuing  0.68 0.69 0.63 0.84 NA
Diluted - Continuing  0.68 0.69 0.62 0.84 NA
Basic - Discontinued  (0.02) 0.01 0.00 0 NA
Diluted - Discontinued  (0.02) 0.01 0.00 0 NA
Basic  0.66 0.7 0.63 0.84 0.43
Diluted  0.66 0.7 0.62 0.84 0.43
Consolidated Statements of Comprehensive Income 
Net income  27,611 29,007 26,069 34,899 18,103
Other comprehensive income (loss) items 
Available for sale securities 
Net unrealized gain  (8,183) 4,491 358 (13) 3,000
Reclassification to operations  (439) (1,154) (318) (94) 3
Net unrealized holding gains transferred to held to maturity  0 0 (8,821) 0 NA
Total  (8,622) 3,337 (8,781) (107) 3,003
Held to maturity securities 
Net unrealized gain on securities transferred  0 0 8,821 0 NA
Reclassification to operations  0 0 (1,904) (1,831) (844)
Total  0 0 6,917 (1,831) (844)
Cash flow hedges 
Net unrealized gain (loss)  3,126 (2,067) (905) (3,504) 96
Reclassification to operations  2,095 1,310 1,082 1,060 231
Total  5,221 (757) 177 (2,444) 327
Total other comprehensive income (loss) items  (3,401) 2,580 (1,687) (4,382) 2,486
Income tax provision 
Available for sale securities 
Net unrealized gain  (3,110) 1,708 136 (5) 1,134
Reclassification to operations  (167) (439) (121) (36) 1
Net unrealized holding gains transferred to held to maturity  0 0 (3,352) 0 NA
Total  (3,277) 1,269 (3,337) (41) 1,135
Held to maturity securities 
Net unrealized gain on securities transferred  0 0 3,352 0 NA
Reclassification to operations  0 0 (724) (696) (319)
Total  0 0 2,628 (696) (319)
Cash flow hedges 
Net unrealized gain (loss)  1,188 (785) (344) (1,332) 36
Reclassification to operations  796 498 411 404 87
Total  1,984 (287) 67 (928) 123
Total income tax provision (benefit)  (1,293) 982 (642) (1,665) 939
Other comprehensive income (loss), net of tax  (2,108) 1,598 (1,045) (2,717) 1,547
Comprehensive income  25,503 30,605 25,024 32,182 19,650


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
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303.312.3412
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