CHFC 2017 Annual Report

2015 (Dollars in thousands, except per share data) First Quarter Second Quarter Third Quarter Fourth Quarter Total Interest income $ 62,630 $ 69,679 $ 78,851 $ 80,629 $ 291,789 Interest expense 3,450 3,944 5,234 5,153 17,781 Net interest income 59,180 65,735 73,617 75,476 274,008 Provision for loan losses 1,500 1,500 1,500 2,000 6,500 Noninterest income 19,275 20,674 20,215 20,052 80,216 Operating expenses 51,020 56,785 58,265 57,824 223,894 Income before income taxes 25,935 28,124 34,067 35,704 123,830 Income tax expense 8,100 9,100 9,600 10,200 37,000 Net income $ 17,835 $ 19,024 $ 24,467 $ 25,504 $ 86,830 Net income per common share: Basic $ 0.54 $ 0.54 $ 0.64 $ 0.67 $ 2.41 Diluted 0.54 0.54 0.64 0.66 2.39 Cash dividends declared per common share 0.24 0.24 0.26 0.26 1.00 Chemical Financial Corporation Notes to Consolidated Financial Statements December 31, 2017 161