Bank of the West 2014 Annual Report Download - page 4

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BANK OF THE WEST AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31,
(dollars in thousands) 2014 2013
Interest income
Loans and lease financing $1,894,129 $1,854,086
Securities available for sale 183,129 160,304
Other 23,581 16,940
Total interest income 2,100,839 2,031,330
Interest expense
Deposits 128,702 134,561
Short-term borrowings and long-term debt 25,625 26,468
Total interest expense 154,327 161,029
Net interest income 1,946,512 1,870,301
Provision for credit losses 64,455 44,686
Net interest income after provision for credit losses 1,882,057 1,825,615
Noninterest income
Service charges on deposit accounts 146,291 147,421
Credit and debit card fees 92,116 82,474
Loan fees 54,331 47,288
Other service charges and fees 41,590 42,417
Insurance agency fees 30,311 28,255
Net gains on customer accommodation derivatives 28,872 22,817
Net gains on sales of loans and leases 28,339 43,327
Bank-owned life insurance 24,732 20,473
Brokerage income 24,016 23,675
Trust and investment services income 21,388 20,455
Gain on sale of equity investments 8,280 -
Net gains on debt securities available for sale 440 66,683
(Loss) gain on credit guarantee derivative (333) 4,396
Write-downs of other real estate owned assets, net (2,391) (4,274)
Other 4,523 7,106
Total noninterest income 502,505 552,513
Noninterest expense
Salaries and employee benefits 884,157 862,999
Contracted services and professional fees 184,197 156,734
Occupancy 141,199 139,990
Equipment 64,495 62,524
Advertising and marketing 41,926 44,017
Intangible amortization 42,131 36,678
Regulatory assessment and fees 40,639 32,389
Collection and repossession 15,096 18,216
Other 128,887 121,825
Total noninterest expense 1,542,727 1,475,372
Income before income taxes and noncontrolling interest 841,835 902,756
Income tax expense 294,267 339,823
Net income before noncontrolling interest 547,568 562,933
Net income attributable to noncontrolling interest 3,346 2,328
Net income attributable to Bank of the West $ 544,222 $ 560,605
The accompanying notes are an integral part of these consolidated financial statements.
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