Company Quick10K Filing
Peapack Gladstone Financial
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 20 $541
10-Q 2019-11-06 Quarter: 2019-09-30
10-Q 2019-08-08 Quarter: 2019-06-30
10-Q 2019-05-09 Quarter: 2019-03-31
10-K 2019-03-14 Annual: 2018-12-31
10-Q 2018-11-06 Quarter: 2018-09-30
10-Q 2018-08-07 Quarter: 2018-06-30
10-Q 2018-05-08 Quarter: 2018-03-31
10-K 2018-03-12 Annual: 2017-12-31
10-Q 2017-11-08 Quarter: 2017-09-30
10-Q 2017-08-07 Quarter: 2017-06-30
10-Q 2017-05-08 Quarter: 2017-03-31
10-K 2017-03-14 Annual: 2016-12-31
10-Q 2016-11-07 Quarter: 2016-09-30
10-Q 2016-08-05 Quarter: 2016-06-30
10-Q 2016-05-09 Quarter: 2016-03-31
10-K 2016-03-15 Annual: 2015-12-31
10-Q 2015-11-09 Quarter: 2015-09-30
10-Q 2015-08-07 Quarter: 2015-06-30
10-Q 2015-05-08 Quarter: 2015-03-31
10-K 2015-03-13 Annual: 2014-12-31
10-Q 2014-11-10 Quarter: 2014-09-30
10-Q 2014-08-08 Quarter: 2014-06-30
10-Q 2014-05-09 Quarter: 2014-03-31
10-K 2014-03-14 Annual: 2013-12-31
10-Q 2013-11-01 Quarter: 2013-09-30
10-Q 2013-08-09 Quarter: 2013-06-30
10-Q 2013-05-09 Quarter: 2013-03-31
10-K 2013-03-15 Annual: 2012-12-31
10-Q 2012-11-09 Quarter: 2012-09-30
10-Q 2012-08-09 Quarter: 2012-06-30
10-Q 2012-05-09 Quarter: 2012-03-31
10-K 2012-03-15 Annual: 2011-12-31
10-Q 2011-11-09 Quarter: 2011-09-30
10-Q 2011-08-09 Quarter: 2011-06-30
10-Q 2011-05-09 Quarter: 2011-03-31
10-K 2011-03-16 Annual: 2010-12-31
10-Q 2010-11-09 Quarter: 2010-09-30
10-Q 2010-08-09 Quarter: 2010-06-30
10-Q 2010-05-07 Quarter: 2010-03-31
10-K 2010-03-16 Annual: 2009-12-31
8-K 2019-10-25 Regulation FD, Exhibits
8-K 2019-10-25 Earnings, Exhibits
8-K 2019-09-04 Other Events
8-K 2019-09-03 Other Events, Exhibits
8-K 2019-07-26 Earnings, Exhibits
8-K 2019-07-26 Regulation FD, Exhibits
8-K 2019-06-28 Other Events, Exhibits
8-K 2019-05-23 Officers
8-K 2019-05-09 Other Events
8-K 2019-05-01 Other Events
8-K 2019-04-30 Regulation FD, Exhibits
8-K 2019-04-30 Shareholder Vote
8-K 2019-04-26 Regulation FD, Exhibits
8-K 2019-04-26 Earnings, Exhibits
8-K 2019-02-28 Officers, Exhibits
8-K 2019-01-25 Earnings, Exhibits
8-K 2019-01-25 Regulation FD, Exhibits
8-K 2019-01-21 Officers
8-K 2018-10-29 Regulation FD, Exhibits
8-K 2018-10-26 Earnings, Exhibits
8-K 2018-09-04 Other Events, Exhibits
8-K 2018-07-30 Regulation FD, Exhibits
8-K 2018-07-27 Earnings, Exhibits
8-K 2018-06-29 Other Events, Exhibits
8-K 2018-05-09 Shareholder Vote
8-K 2018-05-09 Regulation FD, Exhibits
8-K 2018-04-30 Regulation FD, Exhibits
8-K 2018-04-27 Earnings, Exhibits
8-K 2018-01-30 Regulation FD, Exhibits
8-K 2018-01-29 Earnings, Exhibits
8-K 2018-01-25 Officers, Exhibits
8-K 2018-01-18 Other Events
PGC 2019-09-30
Part 1 Financial Information
Part 2 Other Information
Item 1. Financial Statements
Item 2
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-31.1 pgc-ex311_7.htm
EX-31.2 pgc-ex312_8.htm
EX-32 pgc-ex32_6.htm

Peapack Gladstone Financial Earnings 2019-09-30

PGC 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

Comparables ($MM TTM)
Ticker M Cap Assets Liab Rev G Profit Net Inc EBITDA EV G Margin EV/EBITDA ROA
PGC 541 4,871 4,377 166 0 44 118 541 0% 4.6 1%
ESQ 193 732 630 0 0 12 19 153 7.9 2%
MFCB 56 507 113 0 0 0 0 56 0%
CM
BMLP
BBAR
SUPV
RY
IFS
IBN

10-Q 1 pgc-10q_20190930.htm 10-Q pgc-10q_20190930.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(MARK ONE)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarter Ended September 30, 2019

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from              to                 

Commission File No. 001-16197

PEAPACK-GLADSTONE FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

New Jersey

22-3537895

(State or other jurisdiction of

(I.R.S. Employer

incorporation or organization)

Identification No.)

500 Hills Drive, Suite 300

Bedminster, New Jersey 07921-0700

(Address of principal executive offices, including zip code)

 

(908) 234-0700

(Registrant’s telephone number, including area code)

 

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

Common Stock, no par value

 

PGC

 

The NASDAQ Stock Market, LLC

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirement for the past 90 days.

Yes No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulations S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.  See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act:

 

Large accelerated filer

 

 

Accelerated filer

Non-accelerated filer

 

 

Smaller reporting company

Emerging growth company

 

 

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No

Number of shares of Common Stock outstanding as of November 1, 2019: 19,045,098

 

 

 

 

 

 


PEAPACK-GLADSTONE FINANCIAL CORPORATION

PART 1 FINANCIAL INFORMATION

 

Item 1

 

Financial Statements

3

 

 

Consolidated Statements of Condition at September 30, 2019 and December 31, 2018

3

 

 

Consolidated Statements of Income for the three and nine months ended September 30, 2019 and 2018

4

 

 

Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2019 and 2018

5

 

 

Consolidated Statement of Changes in Shareholders’ Equity for the three and nine months ended September 30, 2019 and 2018

6

 

 

Consolidated Statements of Cash Flows for the nine months ended September 30, 2019 and 2018

8

 

 

Notes to Consolidated Financial Statements

9

Item 2

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

43

Item 3

 

Quantitative and Qualitative Disclosures about Market Risk

61

Item 4

 

Controls and Procedures

63

 

 

PART 2 OTHER INFORMATION

 

Item 1

 

Legal Proceedings

64

Item 1A

 

Risk Factors

64

Item 2

 

Unregistered Sales of Equity Securities and Use of Proceeds

64

Item 3

 

Defaults Upon Senior Securities

64

Item 4

 

Mine Safety Disclosures

64

Item 5

 

Other Information

64

Item 6

 

Exhibits

65

 

 

2


Item 1. Financial Statements

PEAPACK-GLADSTONE FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF CONDITION

(Dollars in thousands, except share and per share data)

 

 

 

(unaudited)

 

 

(audited)

 

 

 

September 30,

 

 

December 31,

 

 

 

2019

 

 

2018

 

ASSETS

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

5,770

 

 

$

5,914

 

Federal funds sold

 

 

101

 

 

 

101

 

Interest-earning deposits

 

 

221,242

 

 

 

154,758

 

Total cash and cash equivalents

 

 

227,113

 

 

 

160,773

 

Securities available for sale

 

 

349,989

 

 

 

377,936

 

Equity security, at fair value

 

 

7,881

 

 

 

4,719

 

FHLB and FRB stock, at cost

 

 

21,403

 

 

 

18,533

 

Loans held for sale, at fair value

 

 

1,756

 

 

 

1,576

 

Loans held for sale, at lower of cost or fair value

 

 

5,937

 

 

 

3,542

 

Loans

 

 

4,159,912

 

 

 

3,927,931

 

Less: Allowance for loan and lease losses

 

 

41,580

 

 

 

38,504

 

Net loans

 

 

4,118,332

 

 

 

3,889,427

 

Premises and equipment

 

 

20,898

 

 

 

27,408

 

Other real estate owned

 

 

336

 

 

 

 

Accrued interest receivable

 

 

11,759

 

 

 

10,814

 

Bank owned life insurance

 

 

45,940

 

 

 

45,353

 

Goodwill

 

 

33,817

 

 

 

24,417

 

Other intangible assets

 

 

7,294

 

 

 

7,982

 

Finance lease right-of-use assets

 

 

5,265

 

 

 

 

Operating lease right-of-use assets

 

 

10,328

 

 

 

 

Other assets

 

 

57,361

 

 

 

45,378

 

TOTAL ASSETS

 

$

4,925,409

 

 

$

4,617,858

 

LIABILITIES

 

 

 

 

 

 

 

 

Deposits:

 

 

 

 

 

 

 

 

Noninterest-bearing demand deposits

 

$

544,464

 

 

$

463,926

 

Interest-bearing deposits:

 

 

 

 

 

 

 

 

Checking

 

 

1,352,471

 

 

 

1,247,305

 

Savings

 

 

115,448

 

 

 

114,674

 

Money market accounts

 

 

1,196,188

 

 

 

1,243,369

 

Certificates of deposit - retail

 

 

583,425

 

 

 

510,724

 

Certificates of deposit - listing service

 

 

55,664

 

 

 

79,195

 

Subtotal deposits

 

 

3,847,660

 

 

 

3,659,193

 

Interest-bearing demand - brokered

 

 

180,000

 

 

 

180,000

 

Certificates of deposit - brokered

 

 

33,696

 

 

 

56,147

 

Total deposits

 

 

4,061,356

 

 

 

3,895,340

 

Short-term borrowings

 

 

67,000

 

 

 

 

Federal Home Loan Bank advances

 

 

105,000

 

 

 

108,000

 

Finance lease liabilities

 

 

7,793

 

 

 

8,362

 

Operating lease liabilities

 

 

10,619

 

 

 

 

Subordinated debt, net

 

 

83,361

 

 

 

83,193

 

Deferred tax liabilities, net

 

 

19,498

 

 

 

16,029

 

Accrued expenses and other liabilities

 

 

75,432

 

 

 

37,921

 

TOTAL LIABILITIES

 

 

4,430,059

 

 

 

4,148,845

 

SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

Preferred stock (no par value; authorized 500,000 shares; liquidation preference of $1,000 per share)

 

 

 

 

 

 

Common stock (no par value; stated value $0.83 per share; authorized 42,000,000 shares; issued

   shares, 20,003,272 at September 30, 2019 and 19,745,840 at December 31, 2018; outstanding

   shares, 18,999,241 at September 30, 2019 and 19,337,662 at December 31, 2018

 

 

16,673

 

 

 

16,459

 

Surplus

 

 

318,463

 

 

 

309,088

 

Treasury stock at cost, 1,004,031 shares at September 30, 2019 and 408,178 at December 31, 2018

 

 

(25,705

)

 

 

(8,988

)

Retained earnings

 

 

187,748

 

 

 

154,799

 

Accumulated other comprehensive loss, net of income tax

 

 

(1,829

)

 

 

(2,345

)

TOTAL SHAREHOLDERS’ EQUITY

 

 

495,350

 

 

 

469,013

 

TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY

 

$

4,925,409

 

 

$

4,617,858

 

See accompanying notes to consolidated financial statements

3


PEAPACK-GLADSTONE FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands, except share data)

(Unaudited)

 

See accompanying notes to consolidated financial statements

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

INTEREST INCOME

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and fees on loans

 

$

42,006

 

 

$

37,250

 

 

$

123,113

 

 

$

109,019

 

Interest on investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Taxable

 

 

2,477

 

 

 

2,385

 

 

 

7,800

 

 

 

6,382

 

Tax-exempt

 

 

73

 

 

 

98

 

 

 

257

 

 

 

306

 

Interest on loans held for sale

 

 

30

 

 

 

12

 

 

 

47

 

 

 

28

 

Interest on interest-earning deposits

 

 

1,362

 

 

 

418

 

 

 

3,897

 

 

 

1,170

 

Total interest income

 

 

45,948

 

 

 

40,163

 

 

 

135,114

 

 

 

116,905

 

INTEREST EXPENSE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on savings and interest-bearing deposit accounts

 

 

8,710

 

 

 

5,922

 

 

 

25,325

 

 

 

14,057

 

Interest on certificates of deposit

 

 

3,781

 

 

 

2,545

 

 

 

10,476

 

 

 

7,024

 

Interest on borrowed funds

 

 

886

 

 

 

1,038

 

 

 

2,558

 

 

 

2,563

 

Interest on finance lease liability

 

 

94

 

 

 

103

 

 

 

290

 

 

 

316

 

Interest on subordinated debt

 

 

1,224

 

 

 

1,223

 

 

 

3,671

 

 

 

3,665

 

Subtotal - interest expense

 

 

14,695

 

 

 

10,831

 

 

 

42,320

 

 

 

27,625

 

Interest on interest-bearing demand - brokered

 

 

901

 

 

 

796

 

 

 

2,476

 

 

 

2,280

 

Interest on certificates of deposits - brokered

 

 

267

 

 

 

394

 

 

 

958

 

 

 

1,222

 

Total interest expense

 

 

15,863

 

 

 

12,021

 

 

 

45,754

 

 

 

31,127

 

NET INTEREST INCOME BEFORE PROVISION FOR LOAN AND

   LEASE LOSSES

 

 

30,085

 

 

 

28,142

 

 

 

89,360

 

 

 

85,778

 

Provision for loan and lease losses

 

 

800

 

 

 

500

 

 

 

2,050

 

 

 

2,050

 

NET INTEREST INCOME AFTER PROVISION FOR LOAN AND

   LEASE LOSSES

 

 

29,285

 

 

 

27,642

 

 

 

87,310

 

 

 

83,728

 

OTHER INCOME

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wealth management fee income

 

 

9,501

 

 

 

8,200

 

 

 

28,243

 

 

 

24,693

 

Service charges and fees

 

 

882

 

 

 

860

 

 

 

2,595

 

 

 

2,564

 

Bank owned life insurance

 

 

332

 

 

 

349

 

 

 

996

 

 

 

1,030

 

Gains on loans held for sale at fair value (mortgage banking)

 

 

198

 

 

 

87

 

 

 

377

 

 

 

260

 

Loss on loans held for sale at lower of cost or fair value

 

 

(6

)

 

 

 

 

 

(6

)

 

 

 

Fee income related to loan level, back-to-back swaps

 

 

2,349

 

 

 

854

 

 

 

3,340

 

 

 

2,006

 

Gain on sale of SBA loans

 

 

224

 

 

 

514

 

 

 

1,216

 

 

 

1,359

 

Other income

 

 

902

 

 

 

444

 

 

 

2,248

 

 

 

1,465

 

Securities gains/(losses), net

 

 

34

 

 

 

(325

)

 

 

162

 

 

 

(439

)

Total other income

 

 

14,416

 

 

 

10,983

 

 

 

39,171

 

 

 

32,938

 

OPERATING EXPENSES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Compensation and employee benefits

 

 

17,476

 

 

 

16,025

 

 

 

52,175

 

 

 

46,430

 

Premises and equipment

 

 

3,849

 

 

 

3,399

 

 

 

10,837

 

 

 

10,075

 

FDIC insurance (credit)/expense

 

 

(277

)

 

 

593

 

 

 

277

 

 

 

1,798

 

Other operating expense

 

 

5,211

 

 

 

4,267

 

 

 

14,858

 

 

 

14,259

 

Total operating expenses

 

 

26,259

 

 

 

24,284

 

 

 

78,147

 

 

 

72,562

 

INCOME BEFORE INCOME TAX EXPENSE

 

 

17,442

 

 

 

14,341

 

 

 

48,334

 

 

 

44,104

 

Income tax expense

 

 

5,216

 

 

 

3,617

 

 

 

13,133

 

 

 

10,663

 

NET INCOME

 

$

12,226

 

 

$

10,724

 

 

$

35,201

 

 

$

33,441

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EARNINGS PER SHARE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.63

 

 

$

0.56

 

 

$

1.82

 

 

$

1.77

 

Diluted

 

$

0.63

 

 

$

0.56

 

 

$

1.81

 

 

$

1.75

 

WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

19,314,666

 

 

 

19,053,849

 

 

 

19,370,627

 

 

 

18,865,982

 

Diluted

 

 

19,484,905

 

 

 

19,240,098

 

 

 

19,496,721

 

 

 

19,066,986

 

 

 

4


PEAPACK-GLADSTONE FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Dollars in thousands)

(Unaudited)

 

See accompanying notes to consolidated financial statements

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Net income

 

$

12,226

 

 

$

10,724

 

 

$

35,201

 

 

$

33,441

 

Comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gains/(losses) on available for sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding gains/(losses) arising during the period

 

 

769

 

 

 

(1,576

)

 

 

5,928

 

 

 

(5,163

)

Reclassification adjustment for amounts included in net

   income

 

 

 

 

 

288

 

 

 

 

 

 

288

 

 

 

 

769

 

 

 

(1,288

)

 

 

5,928

 

 

 

(4,875

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax effect

 

 

(186

)

 

 

315

 

 

 

(1,441

)

 

 

1,150

 

Net of tax

 

 

583

 

 

 

(973

)

 

 

4,487

 

 

 

(3,725

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gains on cash flow hedges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding gains/(losses) arising during the period

 

 

(1,084

)

 

 

843

 

 

 

(5,540

)

 

 

2,412

 

Reclassification adjustment for amounts included in net

   income

 

 

(80

)

 

 

(31

)

 

 

(142

)

 

 

(93

)

 

 

 

(1,164

)

 

 

812

 

 

 

(5,682

)

 

 

2,319

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax effect

 

 

356

 

 

 

(298

)

 

 

1,711

 

 

 

(722

)

Net of tax

 

 

(808

)

 

 

514

 

 

 

(3,971

)

 

 

1,597

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total other comprehensive income/(loss)

 

 

(225

)

 

 

(459

)

 

 

516

 

 

 

(2,128

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total comprehensive income

 

$

12,001

 

 

$

10,265

 

 

$

35,717

 

 

$

31,313

 

 

 

5


PEAPACK-GLADSTONE FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(Dollars in thousands)

(Unaudited)

Three Months Ended September 30, 2019 and September 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

(In thousands, except

 

Preferred

 

 

Common

 

 

 

 

 

 

Treasury

 

 

Retained

 

 

Comprehensive

 

 

 

 

 

per share data)

 

Stock

 

 

Stock

 

 

Surplus

 

 

Stock

 

 

Earnings

 

 

Loss

 

 

Total

 

Balance at July 1, 2019 19,456,312

   common shares outstanding

 

$

 

 

$

16,557

 

 

$

311,428

 

 

$

(8,988

)

 

$

176,495

 

 

$

(1,604

)

 

$

493,888

 

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12,226

 

 

 

 

 

 

12,226

 

Comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(225

)

 

 

(225

)

Amortization of restricted stock awards/units

 

 

 

 

 

 

 

 

1,509

 

 

 

 

 

 

 

 

 

 

 

 

1,509

 

Cash dividends declared on common stock

   ($0.05 per share)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(973

)

 

 

 

 

 

(973

)

Share repurchase, (595,853) shares

 

 

 

 

 

 

 

 

 

 

 

(16,717

)

 

 

 

 

 

 

 

 

(16,717

)

Common stock options exercised, 140 shares

 

 

 

 

 

 

 

 

1

 

 

 

 

 

 

 

 

 

 

 

 

1

 

Issuance of common stock for acquisition

   138,642 shares

 

 

 

 

 

116

 

 

 

5,525

 

 

 

 

 

 

 

 

 

 

 

 

5,641

 

Balance at September 30, 2019 18,999,241

   common shares outstanding

 

$

 

 

$

16,673

 

 

$

318,463

 

 

$

(25,705

)

 

$

187,748

 

 

$

(1,829

)

 

$

495,350

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

(In thousands, except

 

Preferred

 

 

Common

 

 

 

 

 

 

Treasury

 

 

Retained

 

 

Comprehensive

 

 

 

 

 

per share data)

 

Stock

 

 

Stock

 

 

Surplus

 

 

Stock

 

 

Earnings

 

 

Loss

 

 

Total

 

Balance at July 1, 2018 19,007,312

   common shares outstanding

 

$

 

 

$

16,183

 

 

$

297,318

 

 

$

(8,988

)

 

$

135,260

 

 

$

(2,754

)

 

$

437,019

 

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10,724

 

 

 

 

 

 

10,724

 

Comprehensive loss