Exhibit 99.2
UNION FIRST MARKET BANKSHARES CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL SCHEDULE OF RECLASSIFICATIONS 1
Actual (dollars in thousands)
Q1 2012 | Q2 2012 | Q3 2012 | Q4 2012 | Year-ended 12/31/2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prior Presen- tation |
Reclass | Reported | Prior Presen- tation |
Reclass | Reported | Prior Presen- tation |
Reclass | Reported | Prior Presen- tation |
Reclass | Reported | Prior Presen- tation |
Reclass | Reported | ||||||||||||||||||||||||||||||||||||||||||||||
Total interest and dividend income |
$ | 45,874 | $ | | $ | 45,874 | $ | 45,304 | $ | | $ | 45,304 | $ | 45,502 | $ | | $ | 45,502 | $ | 45,183 | $ | | $ | 45,183 | $ | 181,863 | $ | | $ | 181,863 | ||||||||||||||||||||||||||||||
Total interest expense |
7,527 | | 7,527 | 7,217 | | 7,217 | 6,741 | | 6,741 | 6,023 | | 6,023 | 27,508 | | 27,508 | |||||||||||||||||||||||||||||||||||||||||||||
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Net interest income |
38,347 | | 38,347 | 38,087 | | 38,087 | 38,761 | | 38,761 | 39,160 | | 39,160 | 154,355 | | 154,355 | |||||||||||||||||||||||||||||||||||||||||||||
Provision for loan losses |
3,500 | | 3,500 | 3,000 | | 3,000 | 2,400 | | 2,400 | 3,300 | | 3,300 | 12,200 | | 12,200 | |||||||||||||||||||||||||||||||||||||||||||||
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Net interest income after provision |
34,847 | | 34,847 | 35,087 | | 35,087 | 36,361 | | 36,361 | 35,860 | | 35,860 | 142,155 | | 142,155 | |||||||||||||||||||||||||||||||||||||||||||||
Service charges on deposit accounts |
2,130 | | 2,130 | 2,291 | | 2,291 | 2,222 | | 2,222 | 2,390 | | 2,390 | 9,033 | | 9,033 | |||||||||||||||||||||||||||||||||||||||||||||
Other service charges, commissions and fees |
3,411 | (839 | ) | 2,572 | 3,627 | (852 | ) | 2,775 | 3,655 | (887 | ) | 2,768 | 3,659 | (875 | ) | 2,784 | 14,352 | (3,453 | ) | 10,899 | ||||||||||||||||||||||||||||||||||||||||
Gains (losses) on securities transactions, net |
(4 | ) | | (4 | ) | 10 | | 10 | (1 | ) | | (1 | ) | 185 | | 185 | 190 | | 190 | |||||||||||||||||||||||||||||||||||||||||
Gains on sales of mortgage loans |
5,296 | (2,531 | ) | 2,765 | 7,315 | (3,483 | ) | 3,832 | 8,918 | (4,163 | ) | 4,755 | 9,619 | (4,320 | ) | 5,299 | 31,148 | (14,497 | ) | 16,651 | ||||||||||||||||||||||||||||||||||||||||
Gains (losses) on bank premises, net |
(34 | ) | | (34 | ) | 375 | | 375 | (308 | ) | | (308 | ) | (32 | ) | | (32 | ) | 1 | | 1 | |||||||||||||||||||||||||||||||||||||||
Other operating income |
1,046 | | 1,046 | 972 | | 972 | 1,067 | | 1,067 | 1,209 | | 1,209 | 4,294 | | 4,294 | |||||||||||||||||||||||||||||||||||||||||||||
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Total noninterest income |
11,845 | (3,370 | ) | 8,475 | 14,590 | (4,335 | ) | 10,255 | 15,553 | (5,050 | ) | 10,503 | 17,030 | (5,195 | ) | 11,835 | 59,018 | (17,950 | ) | 41,068 | ||||||||||||||||||||||||||||||||||||||||
Salaries and benefits |
19,508 | (2,531 | ) | 16,977 | 20,418 | (3,483 | ) | 16,935 | 21,279 | (4,163 | ) | 17,116 | 21,940 | (4,320 | ) | 17,620 | 83,145 | (14,497 | ) | 68,648 | ||||||||||||||||||||||||||||||||||||||||
Occupancy expenses |
2,647 | | 2,647 | 3,092 | | 3,092 | 3,262 | | 3,262 | 3,149 | | 3,149 | 12,150 | | 12,150 | |||||||||||||||||||||||||||||||||||||||||||||
Furniture and equipment expenses |
1,763 | | 1,763 | 1,868 | | 1,868 | 1,809 | | 1,809 | 1,811 | | 1,811 | 7,251 | | 7,251 | |||||||||||||||||||||||||||||||||||||||||||||
Other operating expenses |
11,718 | (839 | ) | 10,879 | 12,566 | (852 | ) | 11,714 | 11,968 | (887 | ) | 11,081 | 12,631 | (875 | ) | 11,756 | 48,883 | (3,453 | ) | 45,430 | ||||||||||||||||||||||||||||||||||||||||
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Total noninterest expenses |
35,636 | (3,370 | ) | 32,266 | 37,944 | (4,335 | ) | 33,609 | 38,318 | (5,050 | ) | 33,268 | 39,531 | (5,195 | ) | 34,336 | 151,429 | (17,950 | ) | 133,479 | ||||||||||||||||||||||||||||||||||||||||
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Income before income taxes |
11,056 | | 11,056 | 11,733 | | 11,733 | 13,596 | | 13,596 | 13,359 | | 13,359 | 49,744 | | 49,744 | |||||||||||||||||||||||||||||||||||||||||||||
Income tax expense |
3,133 | | 3,133 | 3,313 | | 3,313 | 3,970 | | 3,970 | 3,917 | | 3,917 | 14,333 | | 14,333 | |||||||||||||||||||||||||||||||||||||||||||||
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Net income |
$ | 7,923 | $ | | $ | 7,923 | $ | 8,420 | $ | | $ | 8,420 | $ | 9,626 | $ | | $ | 9,626 | $ | 9,442 | $ | | $ | 9,442 | $ | 35,411 | $ | | $ | 35,411 | ||||||||||||||||||||||||||||||
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Efficiency Ratio (FTE) |
69.55 | % | (2.14 | %) | 67.41 | % | 70.64 | % | (2.58 | %) | 68.06 | % | 69.21 | % | (3.09 | %) | 66.12 | % | 69.01 | % | (3.09 | %) | 65.92 | % | 69.59 | % | (2.73 | %) | 66.86 | % |
(1) | Certain amounts in the 2012 and 2011 consolidated financial statements have been reclassified to conform to the presentation adopted in the fourth quarter of 2012. Commissions paid on the origination of mortgages held for sale have been netted against the related gains on sales of mortgage loans revenue amounts for both 2012 and 2011. In addition, debit and credit card interchange costs incurred have been netted against the related debit and credit card interchange income. Management considers the net presentation to more accurately reflect the net contribution to the consolidated financial results for the mortgage segment and the debit and credit card products. These changes had no impact on previously reported earnings and the above shows the impact on the Companys efficiency ratio. |