22 unchanged sentences
December, 2021 96,240 $ 39.73 — 2,686,898
−Removed: (1) Includes shares repurchased pursuant to net settlement by employees in satisfaction of income tax withholding obligations incurred through the vesting of the Corporation's restricted stock awards.
+Added: (1) Includes shares repurchased pursuant to the Corporation's share repurchase program described in note (2) below.
+Added: The amount in November 2021 also includes 20 shares repurchased pursuant to net settlement by employees in satisfaction of income tax withholding obligations incurred through the vesting of the Corporation's restricted stock awards.
(2) On January 27, 2021, the Board of Directors of the Corporation approved a stock repurchase program of up to 3,333,000 shares of the Corporation’s outstanding common stock;
provided, however, that the total aggregate investment in shares repurchased under the program may not exceed $100,000,000.
−Removed: Details regarding the 2021 stock repurchase program are discussed in NOTE 27.
−Removed: SUBSEQUENT EVENTS of the Notes to Consolidated Financial Statements included in Item 8 of this Annual Report on Form 10-K.
+Added: The program does not have an expiration date.
+Added: However, it may be discontinued by the Board at any time.
+Added: Since commencing the program, the Corporation has repurchased a total of 646,102 shares of common stock for a total aggregate investment of $25,443,391.
EQUITY COMPENSATION PLAN INFORMATION
13 unchanged sentences
Total 28,500 $ 17.14 1,340,191
−Removed: SELECTED FINANCIAL DATA.
−Removed: (Dollars in Thousands, Except Share Data) 2020 2019 2018 2017 2016
−Removed: Operations (1) (2) (3)
−Removed: Net interest income fully taxable equivalent (FTE) basis $ 399,093 $ 369,745 $ 349,589 $ 294,554 $ 240,014
−Removed: Less tax equivalent adjustment 16,966 13,085 10,732 17,270 13,541
−Removed: Net interest income 382,127 356,660 338,857 277,284 226,473
−Removed: Provision for loan losses 58,673 2,800 7,227 9,143 5,657
−Removed: Net interest income after provision for loan losses 323,454 353,860 331,630 268,141 220,816
−Removed: Total other income 109,926 86,688 76,459 71,009 65,203
−Removed: Total other expenses 263,405 246,763 219,951 205,556 177,359
−Removed: Income before income tax expense 169,975 193,785 188,138 133,594 108,660
−Removed: Income tax expense 21,375 29,325 28,999 37,524 27,609
−Removed: Net income available to common stockholders $ 148,600 $ 164,460 $ 159,139 $ 96,070 $ 81,051
−Removed: Per Share Data
−Removed: Basic net income available to common stockholders $ 2.75 $ 3.20 $ 3.23 $ 2.13 $ 1.99
−Removed: Diluted net income available to common stockholders 2.74 3.19 3.22 2.12 1.98
−Removed: Cash dividends paid - common 1.04 1.00 0.84 0.69 0.54
−Removed: December 31 book value - common 34.78 32.26 28.53 26.51 22.04
−Removed: December 31 tangible book value - common (4)
−Removed: 24.27 21.94 19.12 16.96 15.85
−Removed: December 31 market value (bid price) - common 37.41 41.59 34.27 42.06 37.65
−Removed: Average Balances (1) (2) (3)
−Removed: Total assets $ 13,466,269 $ 11,091,320 $ 9,689,057 $ 8,196,229 $ 6,899,265
−Removed: Total loans (5)
−Removed: 9,051,155 7,690,190 6,997,771 5,881,284 4,814,005
−Removed: Earning assets 12,123,317 10,015,771 8,736,367 7,335,702 6,180,050
−Removed: Total deposits 10,728,106 8,782,634 7,569,482 6,368,751 5,438,217
−Removed: Total stockholders' equity 1,825,135 1,569,615 1,343,861 1,110,524 884,664
−Removed: Year-End Balances (1) (2) (3)
−Removed: Total assets $ 14,067,210 $ 12,457,254 $ 9,884,716 $ 9,367,478 $ 7,211,611
−Removed: Total loans (5)
−Removed: 9,247,140 8,468,347 7,229,245 6,758,415 5,142,574
−Removed: Allowance for loan losses 130,648 80,284 80,552 75,032 66,037
−Removed: Total deposits 11,361,610 9,839,956 7,754,593 7,172,530 5,556,498
−Removed: Total stockholders' equity 1,875,645 1,786,437 1,408,260 1,303,463 901,657
−Removed: Financial Ratios (1) (2) (3)
−Removed: Return on average assets 1.10 % 1.48 % 1.64 % 1.17 % 1.17 %
−Removed: Return on average stockholders' equity 8.14 10.48 11.84 8.65 9.16
−Removed: Average earning assets to average assets 90.03 90.30 90.17 89.50 89.58
−Removed: Allowance for loan losses as % of total loans 1.41 0.95 1.11 1.11 1.28
−Removed: Dividend payout ratio 37.96 31.35 26.09 32.55 27.27
−Removed: Average stockholders' equity to average assets 13.55 14.15 13.87 13.55 12.82
−Removed: Tax equivalent yield on earning assets 3.84 4.78 4.79 4.53 4.32
−Removed: Cost of supporting liabilities 0.55 1.09 0.79 0.51 0.43
−Removed: Net interest margin on earning assets 3.29 3.69 4.00 4.02 3.89
−Removed: (1) Effective May 19, 2017, the Corporation acquired 100 percent of Arlington Bank.
−Removed: Arlington Bank was headquartered in Columbus, Ohio and had 3 full service banking centers serving the Columbus, Ohio market.
−Removed: Pursuant to the merger agreement, each Arlington Bank shareholder received 2.7245 shares of the Corporation's common stock for each outstanding share of Arlington Bank common stock held.
−Removed: The Corporation issued approximately 2.1 million shares of common stock, which was valued at approximately $82.6 million.
−Removed: (2) On November 21, 2016, the Corporation purchased 495,112 shares, or 12.1 percent, of IAB's outstanding common stock from an IAB shareholder for $19.8 million.
−Removed: Effective July 14, 2017, the Corporation acquired the remaining shares of IAB common stock.
−Removed: IAB was headquartered in Fort Wayne, Indiana and had 16 full service banking centers serving the Fort Wayne, Indiana market.
−Removed: Pursuant to the merger agreement, each IAB shareholder received 1.653 shares of the Corporation's common stock for each outstanding share of IAB common stock held.
−Removed: The Corporation issued approximately 6.0 million shares of common stock.
−Removed: The transaction value for the remaining shares of common stock, not owned by the Corporation, was approximately $238.8 million, resulting in a total purchase price of $258.6 million.
−Removed: (3) On September 1, 2019, the Corporation acquired 100 percent of MBT.
−Removed: MBT was headquartered in Monroe, Michigan and had 20 banking centers serving the Monroe market.
−Removed: Pursuant to the merger agreement, each MBT shareholder received 0.275 shares of the Corporation's common stock for each outstanding share of MBT common stock held.
−Removed: The Corporation issued approximately 6.4 million shares of common stock, which was valued at approximately $229.9 million.
−Removed: The details of the acquisition can be found in NOTE 2.
−Removed: ACQUISITIONS of the Notes to Consolidated Financial Statements included in Item 8 of this Annual Report on Form 10-K.
−Removed: (4) Non-GAAP reconciliation can be found in the “Capital” section of Management’s Discussion and Analysis of Financial Condition and Results of Operations included as Item 7 of this Annual Report on Form 10-K.
−Removed: (5) Includes loans held for sale.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.