2019 Q1 Form 10-Q Financial Statement

#000110813419000007 Filed on May 10, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $107.2M $103.6M
YoY Change 3.41% 1.97%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $6.257M $6.484M
YoY Change -3.5% 6.52%
% of Gross Profit
Depreciation & Amortization $3.400M $3.800M
YoY Change -10.53% 15.15%
% of Gross Profit
Operating Expenses $6.257M $6.484M
YoY Change -3.5% 6.52%
Operating Profit
YoY Change
Interest Expense $35.65M $21.39M
YoY Change 66.67% 54.73%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $31.19M $32.71M
YoY Change -4.64% 47.19%
Income Tax $6.917M $7.337M
% Of Pretax Income 22.18% 22.43%
Net Earnings $23.64M $25.25M
YoY Change -6.39% 63.31%
Net Earnings / Revenue 22.05% 24.36%
Basic Earnings Per Share $0.51 $0.55
Diluted Earnings Per Share $0.51 $0.55
COMMON SHARES
Basic Shares Outstanding 46.11M shares 45.97M shares
Diluted Shares Outstanding 46.26M shares 46.20M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $226.7M
YoY Change
Cash & Equivalents $167.6M $123.9M
Short-Term Investments $59.12M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $105.7M $111.2M
YoY Change -5.02% 16.84%
Goodwill $518.3M $519.1M
YoY Change -0.15% 28.78%
Intangibles $32.22M $37.09M
YoY Change -13.12% 98.91%
Long-Term Investments
YoY Change
Other Assets $204.0M $52.00M
YoY Change 292.31% 23.81%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $12.17B $11.52B
YoY Change 5.68% 23.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $78.00M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $861.3M $835.9M
YoY Change 3.05% -26.47%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $78.00M $836.0M
YoY Change -90.67% -26.47%
LONG-TERM LIABILITIES
Long-Term Debt $101.0M $89.00M
YoY Change 13.48% 0.0%
Other Long-Term Liabilities $131.0M $123.0M
YoY Change 6.5% -22.15%
Total Long-Term Liabilities $232.0M $212.0M
YoY Change 9.43% -14.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $78.00M $836.0M
Total Long-Term Liabilities $232.0M $212.0M
Total Liabilities $10.60B $10.02B
YoY Change 5.74% 22.24%
SHAREHOLDERS EQUITY
Retained Earnings $321.8M $259.5M
YoY Change 23.99% 15.18%
Common Stock $1.245B $1.244B
YoY Change 0.11% 38.2%
Preferred Stock
YoY Change
Treasury Stock (at cost) $19.09M $22.62M
YoY Change -15.61% -12.45%
Treasury Stock Shares 689.9K shares 851.5K shares
Shareholders Equity $1.577B $1.498B
YoY Change
Total Liabilities & Shareholders Equity $12.17B $11.52B
YoY Change 5.68% 23.89%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $23.64M $25.25M
YoY Change -6.39% 63.31%
Depreciation, Depletion And Amortization $3.400M $3.800M
YoY Change -10.53% 15.15%
Cash From Operating Activities -$20.25M $84.48M
YoY Change -123.97% 73.66%
INVESTING ACTIVITIES
Capital Expenditures $2.382M $4.376M
YoY Change -45.57% -13.69%
Acquisitions
YoY Change
Other Investing Activities -$505.0K $0.00
YoY Change -100.0%
Cash From Investing Activities $139.5M -$211.5M
YoY Change -165.95% 28.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $1.601B $1.158B
YoY Change 38.25% -47.89%
Cash From Financing Activities -$134.8M $2.108M
YoY Change -6494.12% -97.8%
NET CHANGE
Cash From Operating Activities -$20.25M $84.48M
Cash From Investing Activities $139.5M -$211.5M
Cash From Financing Activities -$134.8M $2.108M
Net Change In Cash -$15.57M -$124.9M
YoY Change -87.53% 532.92%
FREE CASH FLOW
Cash From Operating Activities -$20.25M $84.48M
Capital Expenditures $2.382M $4.376M
Free Cash Flow -$22.63M $80.10M
YoY Change -128.25% 83.83%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
123887000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
183189000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
167619000 USD
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-124876000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-15570000 USD
CY2018Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
82217000 USD
CY2019Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
68930000 USD
CY2018Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
53535000 USD
CY2019Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-44911000 USD
CY2017Q4 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYield
11561000 USD
CY2018Q1 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYield
10392000 USD
CY2018Q4 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYield
2840000 USD
CY2019Q1 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYield
2139000 USD
CY2018Q1 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
3433000 USD
CY2019Q1 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldAccretion
1320000 USD
CY2018Q1 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Disposals Of Loans
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldDisposalsOfLoans
81000 USD
CY2019Q1 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Disposals Of Loans
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldDisposalsOfLoans
0 USD
CY2019Q1 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Allowance For Loan Losses
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAllowanceForLoanLosses
5800000 USD
CY2018Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.22
CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
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0.23
CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2019Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2019Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2018Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
46211894 shares
CY2019Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
46211894 shares
CY2018Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
45416855 shares
CY2019Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
45521962 shares
CY2018Q4 us-gaap Common Stock Value
CommonStockValue
460000 USD
CY2019Q1 us-gaap Common Stock Value
CommonStockValue
460000 USD
CY2018Q1 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
6484000 USD
CY2019Q1 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
6257000 USD
CY2018Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
11017000 USD
CY2019Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
34199000 USD
CY2018Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1517816000 USD
CY2019Q1 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1209751000 USD
CY2018Q1 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
-1502000 USD
CY2019Q1 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
2551000 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
992767000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
827732000 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
24115000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
12724000 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
130805000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
158641000 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
1576000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
1225000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
6000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
0 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
1123572000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
986373000 USD
CY2018Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
25691000 USD
CY2019Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
13949000 USD
CY2018Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0273
CY2019Q1 us-gaap Debt Weighted Average Interest Rate
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0.0288
CY2018Q4 us-gaap Deferred Compensation Equity
DeferredCompensationEquity
6594000 USD
CY2019Q1 us-gaap Deferred Compensation Equity
DeferredCompensationEquity
8825000 USD
CY2018Q4 us-gaap Deferred Tax Assets Liabilities Net
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42434000 USD
CY2019Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
38783000 USD
CY2018Q4 us-gaap Demand Deposit Accounts
DemandDepositAccounts
1603019000 USD
CY2019Q1 us-gaap Demand Deposit Accounts
DemandDepositAccounts
1526584000 USD
CY2018Q4 us-gaap Deposits
Deposits
8982381000 USD
CY2019Q1 us-gaap Deposits
Deposits
9166415000 USD
CY2018Q4 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
2245195000 USD
CY2019Q1 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
2743448000 USD
CY2018Q4 us-gaap Deposits Negotiable Order Of Withdrawal Now
DepositsNegotiableOrderOfWithdrawalNOW
1122321000 USD
CY2019Q1 us-gaap Deposits Negotiable Order Of Withdrawal Now
DepositsNegotiableOrderOfWithdrawalNOW
820177000 USD
CY2018Q4 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
724129000 USD
CY2019Q1 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
731711000 USD
CY2018Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2520000 USD
CY2019Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2184000 USD
CY2018Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
1680000 USD
CY2019Q1 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
3420000 USD
CY2019Q1 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
46700000 USD
CY2018Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax
-162000 USD
CY2019Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodBeforeIncomeTax
-854000 USD
CY2018Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
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0.00
CY2019Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
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-0.01
CY2018Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
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0.00
CY2019Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
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-0.01
CY2018Q1 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-39000 USD
CY2019Q1 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-217000 USD
CY2018Q1 us-gaap Dividends Common Stock Cash
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9982000 USD
CY2019Q1 us-gaap Dividends Common Stock Cash
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10475000 USD
CY2018Q1 us-gaap Dividends Preferred Stock Cash
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230000 USD
CY2019Q1 us-gaap Dividends Preferred Stock Cash
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240000 USD
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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0.55
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.51
CY2018Q4 us-gaap Equity Securities Fv Ni
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56638000 USD
CY2019Q1 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
59121000 USD
CY2018Q4 us-gaap Equity Securities Fv Ni Cost
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55471000 USD
CY2019Q1 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
55409000 USD
CY2018 us-gaap Equity Securities Fv Ni Unrealized Gain
EquitySecuritiesFvNiUnrealizedGain
4370000 USD
CY2019Q1 us-gaap Equity Securities Fv Ni Unrealized Gain
EquitySecuritiesFvNiUnrealizedGain
5217000 USD
CY2018 us-gaap Equity Securities Fv Ni Unrealized Loss
EquitySecuritiesFvNiUnrealizedLoss
3203000 USD
CY2019Q1 us-gaap Equity Securities Fv Ni Unrealized Loss
EquitySecuritiesFvNiUnrealizedLoss
1505000 USD
CY2018Q1 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
1195000 USD
CY2019Q1 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
1639000 USD
CY2018Q4 us-gaap Federal Home Loan Bank Advances Long Term
FederalHomeLoanBankAdvancesLongTerm
309466000 USD
CY2019Q1 us-gaap Federal Home Loan Bank Advances Long Term
FederalHomeLoanBankAdvancesLongTerm
258840000 USD
CY2019Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
159000 USD
CY2019Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
11228000 USD
CY2019Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
16178000 USD
CY2019Q1 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
11296000 USD
CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
1037000 USD
CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
1031000 USD
CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
1031000 USD
CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
1031000 USD
CY2019Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
752000 USD
CY2019Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
4950000 USD
CY2019Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
98000 USD
CY2019Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
8128000 USD
CY2019Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
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0.0500
CY2019Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P15Y7M6D
CY2019Q1 us-gaap Financial Instruments Owned And Pledged As Collateral At Fair Value
FinancialInstrumentsOwnedAndPledgedAsCollateralAtFairValue
12300000 USD
CY2018Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
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5 modification
CY2019Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
3 modification
CY2018Q1 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
2042000 USD
CY2019Q1 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
338000 USD
CY2018Q1 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
2113000 USD
CY2019Q1 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
338000 USD
CY2017Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
41990000 USD
CY2018Q1 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
43105000 USD
CY2018Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
27415000 USD
CY2019Q1 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
25185000 USD
CY2018Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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32425000 USD
CY2019Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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30504000 USD
CY2018Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
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CY2019Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
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CY2018Q1 us-gaap Gain Loss On Sale Of Business
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481000 USD
CY2019Q1 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0 USD
CY2018Q4 us-gaap Goodwill
Goodwill
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CY2019Q1 us-gaap Goodwill
Goodwill
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CY2018Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
373763000 USD
CY2019Q1 us-gaap Held To Maturity Securities
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369331000 USD
CY2018Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
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4124000 USD
CY2019Q1 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
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8689000 USD
CY2018Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
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6663000 USD
CY2019Q1 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
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2040000 USD
CY2018Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
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6471000 USD
CY2019Q1 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
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2040000 USD
CY2018Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Fair Value
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196133000 USD
CY2019Q1 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Fair Value
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48152000 USD
CY2018Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
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192000 USD
CY2019Q1 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
0 USD
CY2018Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
25674000 USD
CY2019Q1 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
0 USD
CY2018Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
170459000 USD
CY2019Q1 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
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48152000 USD
CY2019Q1 us-gaap Held To Maturity Securities Debt Maturities Next Rolling Twelve Months Fair Value
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2614000 USD
CY2019Q1 us-gaap Held To Maturity Securities Debt Maturities Rolling After Ten Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesRollingAfterTenYearsFairValue
255497000 USD
CY2019Q1 us-gaap Held To Maturity Securities Debt Maturities Rolling Year Six Through Ten Fair Value
HeldToMaturitySecuritiesDebtMaturitiesRollingYearSixThroughTenFairValue
13577000 USD
CY2019Q1 us-gaap Held To Maturity Securities Debt Maturities Rolling Year Two Through Five Fair Value
HeldToMaturitySecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
14865000 USD
CY2019Q1 us-gaap Held To Maturity Securities Debt Maturities Single Maturity Date Amortized Cost Basis
HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
280630000 USD
CY2019Q1 us-gaap Held To Maturity Securities Debt Maturities Single Maturity Date Fair Value
HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateFairValue
286553000 USD
CY2019Q1 us-gaap Held To Maturity Securities Debt Maturities Without Single Maturity Date Fair Value
HeldToMaturitySecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
89427000 USD
CY2019Q1 us-gaap Held To Maturity Securities Debt Maturities Without Single Maturity Date Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesWithoutSingleMaturityDateNetCarryingAmount
88701000 USD
CY2018Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
371224000 USD
CY2019Q1 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
375980000 USD
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
32708000 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
31189000 USD
CY2018Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
25371000 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
24272000 USD
CY2018Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.55
CY2019Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.52
CY2018Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.55
CY2019Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.52
CY2018Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-123000 USD
CY2019Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-637000 USD
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7337000 USD
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6917000 USD
CY2018Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1065000 USD
CY2019Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
794000 USD
CY2018Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-65870000 USD
CY2019Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
184034000 USD
CY2018Q1 us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
1158000 USD
CY2019Q1 us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
2590000 USD
CY2018Q1 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
-165000 USD
CY2019Q1 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
-174000 USD
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
33418000 USD
CY2019Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
32219000 USD
CY2018Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
106146000 USD
CY2019Q1 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
121109000 USD
CY2018Q1 us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
14405000 USD
CY2019Q1 us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
15458000 USD
CY2018Q1 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
91741000 USD
CY2019Q1 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
105651000 USD
CY2018Q1 us-gaap Interest Expense
InterestExpense
21389000 USD
CY2019Q1 us-gaap Interest Expense
InterestExpense
35650000 USD
CY2018Q1 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
6064000 USD
CY2019Q1 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
9028000 USD
CY2018Q1 us-gaap Interest Expense Deposits
InterestExpenseDeposits
15325000 USD
CY2019Q1 us-gaap Interest Expense Deposits
InterestExpenseDeposits
26622000 USD
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1980046000 USD
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3400221000 USD
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398984000 USD
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348402000 USD
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0.0316
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2551000 USD
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1222000 USD
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30943000 USD
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24662000 USD
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23635000 USD
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25018000 USD
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23395000 USD
CY2018Q1 us-gaap Noninterest Expense
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65366000 USD
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71991000 USD
CY2018Q1 us-gaap Noninterest Income
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18892000 USD
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21722000 USD
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970000 USD
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CY2019Q1 us-gaap Operating Lease Cost
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3400000 USD
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3498000 USD
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0.0339
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P10Y4M24D
CY2018Q4 us-gaap Other Assets
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120926000 USD
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14215000 USD
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10564000 USD
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CY2019Q1 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
3651000 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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-19162000 USD
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14215000 USD
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-4931000 USD
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3651000 USD
CY2018Q4 us-gaap Other Liabilities
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149519000 USD
CY2019Q1 us-gaap Other Liabilities
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204725000 USD
CY2018Q1 us-gaap Other Noncash Income Expense
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1193000 USD
CY2019Q1 us-gaap Other Noncash Income Expense
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5158000 USD
CY2018Q1 us-gaap Other Noninterest Expense
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5302000 USD
CY2019Q1 us-gaap Other Noninterest Expense
OtherNoninterestExpense
9390000 USD
CY2018Q1 us-gaap Other Nonrecurring Expense
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5093000 USD
CY2019Q1 us-gaap Other Nonrecurring Expense
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7015000 USD
CY2018Q1 us-gaap Payments For Proceeds From Loans And Leases
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148619000 USD
CY2019Q1 us-gaap Payments For Proceeds From Loans And Leases
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-87553000 USD
CY2018Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
CY2019Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-505000 USD
CY2018Q1 us-gaap Payments Of Dividends Common Stock
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10212000 USD
CY2019Q1 us-gaap Payments Of Dividends Common Stock
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10715000 USD
CY2018Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
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116400000 USD
CY2018Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
116423000 USD
CY2019Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
15180000 USD
CY2019Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
15200000 USD
CY2018Q1 us-gaap Payments To Acquire Federal Reserve Stock
PaymentsToAcquireFederalReserveStock
17614000 USD
CY2019Q1 us-gaap Payments To Acquire Federal Reserve Stock
PaymentsToAcquireFederalReserveStock
15930000 USD
CY2018Q1 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
1618000 USD
CY2019Q1 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
159000 USD
CY2018Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
12688000 USD
CY2019Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
11900000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4376000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2382000 USD
CY2018Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
230000 USD
CY2019Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
240000 USD
CY2018Q1 us-gaap Preferred Stock Dividends Per Share Declared
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0.44
CY2019Q1 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
0.46
CY2018Q4 us-gaap Preferred Stock Value
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40633000 USD
CY2019Q1 us-gaap Preferred Stock Value
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40633000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2019Q1 us-gaap Proceeds From Issuance Of Long Term Debt
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1292517000 USD
CY2018Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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44069000 USD
CY2019Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
39542000 USD
CY2018Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
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2885000 USD
CY2019Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
4111000 USD
CY2018Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
26096000 USD
CY2019Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
11896000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0 USD
CY2018Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0 USD
CY2019Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
2600000 USD
CY2019Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
2587000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Federal Reserve Stock
ProceedsFromSaleOfFederalReserveStock
16661000 USD
CY2019Q1 us-gaap Proceeds From Sale Of Federal Reserve Stock
ProceedsFromSaleOfFederalReserveStock
38650000 USD
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
76000 USD
CY2019Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2018Q1 us-gaap Professional Fees
ProfessionalFees
1696000 USD
CY2019Q1 us-gaap Professional Fees
ProfessionalFees
2275000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
106500000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
105651000 USD
CY2018Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
5575000 USD
CY2019Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
4001000 USD
CY2018Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
0 USD
CY2019Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
4000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt
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1157778000 USD
CY2019Q1 us-gaap Repayments Of Long Term Debt
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1600624000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
308839000 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
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321759000 USD
CY2018Q1 us-gaap Revenues
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103649000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
1497657000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
1552918000 USD
CY2019Q1 us-gaap Revenues
Revenues
107181000 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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0 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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79589000 USD
CY2018Q1 us-gaap Share Based Compensation
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1382000 USD
CY2019Q1 us-gaap Share Based Compensation
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989000 USD
CY2018Q4 us-gaap Short Term Borrowings
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1118832000 USD
CY2019Q1 us-gaap Short Term Borrowings
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861349000 USD
CY2018Q4 us-gaap Short Term Debt Weighted Average Interest Rate
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0.0258
CY2019Q1 us-gaap Short Term Debt Weighted Average Interest Rate
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0.0267
CY2018Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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76000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
1496264000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
1577005000 USD
CY2018Q1 us-gaap Stockholders Equity Other
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870000 USD
CY2019Q1 us-gaap Stockholders Equity Other
StockholdersEquityOther
386000 USD
CY2018Q4 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.090
CY2019Q1 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.090
CY2018Q4 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.116
CY2019Q1 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.117
CY2018Q4 us-gaap Time Deposits
TimeDeposits
3287717000 USD
CY2019Q1 us-gaap Time Deposits
TimeDeposits
3344495000 USD
CY2018Q4 us-gaap Time Deposits100000 Or More
TimeDeposits100000OrMore
507528000 USD
CY2019Q1 us-gaap Time Deposits100000 Or More
TimeDeposits100000OrMore
529134000 USD
CY2018Q4 us-gaap Time Deposits Less Than100000
TimeDepositsLessThan100000
719689000 USD
CY2019Q1 us-gaap Time Deposits Less Than100000
TimeDepositsLessThan100000
712774000 USD
CY2018Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
11200000 USD
CY2018Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
11212000 USD
CY2019Q1 us-gaap Trading Securities Debt
TradingSecuritiesDebt
11200000 USD
CY2019Q1 us-gaap Trading Securities Debt
TradingSecuritiesDebt
11164000 USD
CY2018Q4 us-gaap Trading Securities Debt Amortized Cost
TradingSecuritiesDebtAmortizedCost
10100000 USD
CY2019Q1 us-gaap Trading Securities Debt Amortized Cost
TradingSecuritiesDebtAmortizedCost
9900000 USD
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
795039 shares
CY2019Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
689932 shares
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
21963000 USD
CY2019Q1 us-gaap Treasury Stock Value
TreasuryStockValue
19091000 USD
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46200000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46261000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
46212000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
46212000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45966000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46113000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
420000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
425000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
869000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
717000 shares
CY2019Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Certain items in prior financial statements have been reclassified to conform to the current presentation.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>

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