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

Income Statement

COBIZ FINANCIAL INC. (NASDAQ - COBZ) 
  2014 Y 2015 Y 2016 Y 2017 Y 2018 Q1 YTD
Source Document 12/31/2016 12/31/2017 12/31/2017 12/31/2017 3/31/2018
Currency Code USD USD USD USD USD
(in thousands)          
           
INTEREST INCOME 
Interest and fees on loans  98,627 107,622 114,612 127,995 33,773
Interest and dividends on investment securities 
Taxable securities  14,810 12,487 11,713 13,488 3,521
Nontaxable securities  271 609 730 781 244
Dividends on securities  507 432 561 675 160
Interest on federal funds sold and other  102 116 166 248 79
Total interest income  114,317 121,266 127,782 143,187 37,777
INTEREST EXPENSE 
Interest on deposits  3,866 3,640 3,854 4,019 987
Interest on short-term borrowings and securities sold under agreements to repurchase  441 214 494 1,205 347
Interest on subordinated debentures and notes payable  4,122 5,736 7,383 7,389 1,834
Total interest expense  8,429 9,590 11,731 12,613 3,168
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES  105,888 111,676 116,051 130,574 34,609
Provision for loan losses  (4,155) 6,420 (2,101) 3,285 (325)
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES  110,043 105,256 118,152 127,289 34,934
NONINTEREST INCOME 
Service charges  5,598 5,862 6,059 6,624 1,655
Investment advisory income  5,736 5,832 5,714 6,220 1,655
Insurance income  11,150 12,047 12,568 13,181 3,459
Other income  5,425 6,926 9,819 7,976 2,192
Total noninterest income  27,909 30,667 34,160 34,001 8,961
NONINTEREST EXPENSE 
Salaries and employee benefits  66,008 69,526 71,471 75,088 19,747
Occupancy expenses, premises and equipment  13,100 13,079 14,966 14,665 3,711
Amortization of intangibles  597 600 600 600 56
FDIC and other assessments  1,737 1,813 1,692 1,310 424
Other real estate owned and loan workout costs  1,066 NA NA NA 71
Net gain on securities, other assets and other real estate owned  (2,597) (369) (121) (507) (120)
Other expense  14,225 15,528 16,623 16,738 4,681
Total noninterest expense  94,136 100,177 105,231 107,894 28,570
INCOME BEFORE INCOME TAXES  43,816 35,746 47,081 53,396 15,325
Provision for income taxes  15,018 9,606 12,182 20,478 2,344
NET INCOME FROM CONTINUING OPERATIONS  28,798 26,140 34,899 32,918 NA
DISCONTINUED OPERATIONS 
Loss from discontinued operations  338 (113) 0 0 NA
Benefit for income taxes  129 (42) 0 0 NA
Net loss from discontinued operations  209 (71) 0 0 NA
NET INCOME  29,007 26,069 34,899 32,918 12,981
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS  28,433 25,749 34,899 32,918 NA
EARNINGS PER COMMON SHARE 
Basic - Continuing  0.69 NA NA NA NA
Diluted - Continuing  0.69 NA NA NA NA
Basic - Discontinued  0.01 NA NA NA NA
Diluted - Discontinued  0.01 NA NA NA NA
Basic  0.7 0.63 0.84 0.79 0.31
Diluted  0.7 0.62 0.84 0.78 0.31
Condensed Consolidated Statements of Comprehensive Income 
Net income  29,007 26,069 34,899 32,918 12,981
Other comprehensive income (loss) items 
Available for sale securities 
Net unrealized gain (loss)  4,491 358 (13) 317 (1,530)
Reclassification to operations  (1,154) (318) (94) (249) 0
Net unrealized holding gains transferred to held to maturity  0 (8,821) 0 0 NA
Total  3,337 (8,781) (107) 68 (1,530)
Held to maturity securities 
Net unrealized gain on securities transferred  0 8,821 0 0 NA
Reclassification to operations  0 (1,904) (1,831) (1,658) (308)
Total  0 6,917 (1,831) (1,658) (308)
Cash flow hedges 
Net unrealized loss  (2,067) (905) (3,504) (201) (616)
Reclassification to operations  1,310 1,082 1,060 651 257
Total  (757) 177 (2,444) 450 (359)
Total other comprehensive income (loss) items  2,580 (1,687) (4,382) (1,140) (2,197)
Income tax provision 
Available for sale debt securities 
Net unrealized gain (loss)  1,708 136 (5) 120 (375)
Reclassification to operations  (439) (121) (36) (94) 0
Net unrealized holding gains transferred to held to maturity  0 (3,352) 0 0 NA
Total  1,269 (3,337) (41) 26 (375)
Held to maturity securities 
Net unrealized gain on securities transferred  0 3,352 0 0 NA
Reclassification to operations  0 (724) (696) (629) (75)
Total  0 2,628 (696) (629) (75)
Cash flow hedges 
Net unrealized loss  (785) (344) (1,332) (76) (151)
Reclassification to operations  498 411 404 246 63
Total  (287) 67 (928) 170 (88)
Total income tax provision (benefit)  982 (642) (1,665) (433) (538)
Other comprehensive income (loss), net of tax  1,598 (1,045) (2,717) (707) (1,659)
Comprehensive income  30,605 25,024 32,182 32,211 11,322


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

CoBiz Financial  CoBiz Financial CoBiz Financial