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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income:        
Interest and fees on loans $ 31,110 $ 30,182 $ 61,113 $ 59,261
Investment securities 14,398 11,903 25,576 24,535
Federal Reserve Bank and Federal Home Loan Bank stock 359 360 719 718
Short-term investments 117 142 242 262
Total interest income 45,984 42,587 87,650 84,776
Interest expense:        
Deposits 2,162 2,034 4,213 4,068
Other borrowings 12 2 25 6
Subordinated debentures 3,055 3,027 6,070 6,838
Total interest expense 5,229 5,063 10,308 10,912
Net interest income 40,755 37,524 77,342 73,864
(Benefit) provision for loan losses (7,500) 0 (7,500) 0
Net interest income after (benefit) provision for loan losses 48,255 37,524 84,842 73,864
Noninterest income:        
Service charges on deposit accounts and client service fees 8,539 8,667 16,643 17,000
Gain on loans sold and held for sale 2,093 1,554 4,930 2,419
Net gain (loss) on investment securities 7,158 (1) 7,201 1,279
Net gain on sale of other real estate 196 692 5,188 1,134
Increase (decrease) in fair value of servicing rights 432 (901) (1,040) (1,133)
Loan servicing fees 1,669 1,664 3,249 3,375
Other 2,454 2,162 4,498 4,048
Total noninterest income 22,541 13,837 40,669 28,122
Noninterest expense:        
Salaries and employee benefits 23,246 20,383 46,149 40,265
Occupancy, net of rental income 4,622 5,479 10,018 11,263
Furniture and equipment 3,246 2,643 6,550 5,003
Postage, printing and supplies 528 554 1,111 1,193
Information technology fees 5,118 5,497 10,464 10,717
Legal, examination and professional fees 1,032 1,447 1,939 2,738
Advertising and business development 777 650 1,464 1,272
FDIC insurance 921 1,241 1,866 2,505
Write-downs and expenses on other real estate 475 639 707 1,338
Restructuring charges on retail branch offices and other facilities 11,884 0 17,579 0
Other 4,661 4,678 9,082 9,275
Total noninterest expense 56,510 43,211 106,929 85,569
Income before provision for income taxes 14,286 8,150 18,582 16,417
Provision for income taxes 1,556 2,918 3,169 5,835
Net income 12,730 5,232 15,413 10,582
Less: net income (loss) attributable to noncontrolling interest in subsidiary 18 1 27 (54)
Net income attributable to First Banks, Inc. $ 12,712 $ 5,231 $ 15,386 $ 10,636