CHFC 2017 Annual Report

December 31, (Dollars in thousands, except per share data) 2017 2016 2015 2014 2013 Tangible Book Value Shareholders' equity, as reported $ 2,668,749 $ 2,581,526 $ 1,015,974 $ 797,133 $ 696,500 Goodwill, CDI and noncompete agreements, net of tax (1,158,738) (1,155,528) (301,073) (190,714) (124,553) Tangible shareholders' equity $ 1,510,011 $ 1,425,998 $ 714,901 $ 606,419 $ 571,947 Common shares outstanding 71,207 70,599 38,168 32,774 29,790 Book value per share (shareholders' equity, as reported, divided by common shares outstanding) $ 37.48 $ 36.57 $ 26.62 $ 24.32 $ 23.38 Tangible book value per share (tangible shareholders' equity divided by common shares outstanding) $ 21.21 $ 20.20 $ 18.73 $ 18.50 $ 19.20 Tangible Shareholders' Equity to Tangible Assets Total assets, as reported $ 19,280,873 $ 17,355,179 $ 9,188,797 $ 7,322,143 $ 6,184,708 Goodwill, CDI and noncompete agreements, net of tax (1,158,738) (1,155,528) (301,073) (190,714) (124,553) Tangible assets $ 18,122,135 $ 16,199,651 $ 8,887,724 $ 7,131,429 $ 6,060,155 Shareholders' equity to total assets 13.8% 14.9% 11.1% 10.9% 11.3% Tangible shareholders' equity to tangible assets 8.3% 8.8% 8.0% 8.5% 9.4% 45 Balance Sheet Review Overview Total assets were $19.28 billion at December 31, 2017, an increase of $1.93 billion, or 11.1%, from total assets at December 31, 2016 of $17.36 billion. The increase in total assets during 2017 was primarily attributable to an increase in loans and investment securities funded by an increase in FHLB advances and customer deposit growth. The $8.17 billion increase in total assets during 2016 was primarily attributable to the merger with Talmer, which increased total assets by $7.71 billion as of the merger date in addition to organic loan growth. Average assets were $18.47 billion during 2017, an increase of $6.43 billion, or 53.4%, from average assets of $12.04 billion during 2016. Average assets during 2016 increased $3.56 billion, or 41.9%, from average assets of $8.48 billion during 2015. The increase in average assets during 2017, as compared to 2016, was attributable to the merger with Talmer effectiveAugust 31, 2016, originated loan growth and an increase in investment securities. The increase in average assets during 2016, as compared to 2015, was attributable to a combination of the $7.71 billion of assets acquired in the merger with Talmer completed August 31, 2016 and additional organic loan growth.