CHICAGO, July 20, 2016 (GLOBE NEWSWIRE) -- MB Financial, Inc. (NASDAQ:MBFI), the holding company for MB Financial Bank, N.A., today announced 2016 second quarter net income available to common stockholders of $41.4 million, or $0.56 per diluted common share, compared to $37.1 million, or $0.50 per diluted common share, last quarter and $39.0 million, or $0.52 per diluted common share, in the second quarter a year ago.  

KEY ITEMS

Growth in Operating Earnings for the Quarter

Operating earnings increased by $3.0 million, or $0.04 per diluted common share, compared to last quarter and $3.1 million, or $0.05  per diluted common share, compared to the second quarter of last year.

The following table presents a reconciliation of net income to operating earnings (in thousands):

															Six Months Ended
															June 30,
		2Q16				1Q16				2Q15					2016				2015
Net income - as reported		$	43,412			$	39,114			$	40,952				$	82,526			$	75,063
Non-core items adjustment:
Non-core items		2,454				3,335				1,325					5,789				9,935
Income tax expense on non-core items		1,003				577				526					1,580				3,943
Non-core items, net of tax		1,451				2,758				799					4,209				5,992
Operating earnings		44,863				41,872				41,751					86,735				81,055
Dividends on preferred shares		2,000				2,000				2,000					4,000				4,000
Operating earnings available to common stockholders		$	42,863			$	39,872			$	39,751				$	82,735			$	77,055
Diluted operating earnings per common share		$	0.58			$	0.54			$	0.53				$	1.12			$	1.02
Weighted average common shares outstanding for diluted operating earnings per common share		74,180,374				73,966,935				75,296,029					74,073,655				75,230,455

• Net interest income on a fully tax equivalent basis increased $3.3 million (+2.6%) to $129.8 million in the second quarter of 2016 compared to the prior quarter due to higher average loan balances and higher yields earned on loans.
• Our net interest margin on a fully tax equivalent basis, excluding accretion on loans acquired in the Taylor Capital merger, increased two basis points to 3.57% compared to 3.55% last quarter.  
  
• Our core non-interest income increased 11.6% to $91.3 million compared to $81.7 million in the prior quarter primarily due to an increase in mortgage banking revenue.  The increase in mortgage banking revenue was driven by higher origination fees as a result of higher origination volumes in the second quarter of 2016 and higher gains on sale margins.  The increase in mortgage banking revenue was partially offset by lower lease financing revenue, which decreased due to lower fees from the sale of third-party equipment maintenance contracts.
  
• Our core non-interest expense increased $12.2 million (+9.2%) compared to the prior quarter primarily due to an increase in salaries and employee benefits expense, which increased due to higher mortgage commission expense resulting from higher mortgage origination volumes, annual pay increases effective in the beginning of the second quarter and an increase in bonus expense based on company performance through June 2016.
  

Growth in Loan Balances During the Quarter

Loan balances, excluding purchased credit-impaired loans, increased $240.2 million (+2.4%, or +9.8% annualized) during the second quarter of 2016.

The following table sets forth the composition of the loan portfolio (excluding loans held for sale) as of the dates indicated (dollars in thousands):

										Change from 3/31/2016  to 6/30/2016
(Dollars in thousands)		6/30/2016				3/31/2016				Amount				Percent
Commercial-related credits:
Commercial loans		$	3,561,500			$	3,509,604			$	51,896			+1.5	%
Commercial loans collateralized by assignment of lease payments (lease loans)		1,794,465				1,774,104				20,361				+1.1
Commercial real estate		2,827,720				2,831,814				(4,094		)		-0.1
Construction real estate		357,807				310,278				47,529				+15.3
Total commercial-related credits		8,541,492				8,425,800				115,692				+1.4
Other loans:
Residential real estate		753,707				677,791				75,916				+11.2
Indirect vehicle		491,480				432,915				58,565				+13.5
Home equity		198,622				207,079				(8,457		)		-4.1
Consumer loans		75,775				77,318				(1,543		)		-2.0
Total other loans		1,519,584				1,395,103				124,481				+8.9
Total loans, excluding purchased credit-impaired		10,061,076				9,820,903				240,173				+2.4
Purchased credit-impaired		136,811				140,445				(3,634		)		-2.6
Total loans		$	10,197,887			$	9,961,348			$	236,539			+2.4	%

Growth in Non-Interest Bearing Deposit Balances During the Quarter

Non-interest bearing deposits increased $108.0 million (+2.3% or +9.3% annualized) during the second quarter of 2016, and represented 42% of total deposits at June 30, 2016.  Total low cost deposits declined during the quarter due to the reduction in balances of certain large accounts, but continued to represent 84% of total deposits at June 30, 2016.

The following table shows the composition of deposits as of the dates indicated (dollars in thousands):

										Change from 3/31/2016  to 6/30/2016
(Dollars in thousands)		6/30/2016				3/31/2016				Amount				Percent
Low cost deposits:
Non-interest bearing deposits		$	4,775,364			$	4,667,410			$	107,954			+2.3	%
Money market and NOW		3,771,111				4,048,054				(276,943		)		-6.8
Savings		1,021,845				991,300				30,545				+3.1
Total low cost deposits		9,568,320				9,706,764				(138,444		)		-1.4
Certificates of deposit:
Certificates of deposit		1,220,562				1,255,457				(34,895		)		-2.8
Brokered certificates of deposit		647,214				571,605				75,609				+13.2
Total certificates of deposit		1,867,776				1,827,062				40,714				+2.2
Total deposits		$	11,436,096			$	11,533,826			$	(97,730	)		-0.8	%

Positive Credit Quality Metrics

Our credit quality metrics improved during the second quarter of 2016 as follows:

• Provision for credit losses decreased to $2.8 million in the second quarter of 2016 compared to $7.6 million in the prior quarter primarily due to a decrease in non-performing loans and a reduction in specific reserves.
  
• Non-performing loans and non-performing assets decreased by $20.0 million and $20.4 million, respectively, from March 31, 2016 primarily due to loans that paid off during the quarter.
  
• Potential problem loans decreased by $10.4 million from March 31, 2016 primarily due to loans that paid off during the quarter and loans that were upgraded from potential problem loan status to pass status. 
  
• Our net loan charge-offs during the second quarter of 2016 were $2.2 million, or 0.09% of loans (annualized), compared to net loan charge-offs of $1.3 million, or 0.06% of loans (annualized), in the first quarter of 2016.
  
• Our allowance for loan and lease losses to total loans ratio was 1.33% at June 30, 2016 compared to 1.35% at March 31, 2016.  The decrease in the allowance for loan and lease losses to total loans ratio was primarily due to lower specific reserves.
  

American Chartered Bancorp, Inc. ("ACB") Pending Merger Update

The Office of the Comptroller of the Currency has approved the merger of American Chartered Bank, the bank subsidiary of American Chartered Bancorp, Inc., with MB Financial, Inc.’s bank subsidiary, MB Financial Bank, N.A.  The Board of Governors of the Federal Reserve System has also approved the merger of American Chartered Bancorp, Inc. with MB Financial, Inc.  The transaction, which remains subject to the satisfaction of other customary conditions to closing, is expected to be completed in the third quarter of 2016.

RESULTS OF OPERATIONS

Second Quarter Results

Net Interest Income

The following table presents net interest income and net interest margin on fully tax equivalent basis (dollars in thousands):

										Change from 1Q16 to 2Q16							Change from 2Q15 to 2Q16				Six Months Ended								Change from 2015 to 2016
																					June 30,
		2Q16				1Q16							2Q15								2016				2015
Net interest income - fully tax equivalent		$	129,810			$	126,499			+2.6	%		$	121,149			+7.1	%			$	256,309			$	240,622			+6.5	%
Net interest income - fully tax equivalent, excluding acquisition accounting discount accretion on Taylor Capital loans		$	122,108			$	119,146			+2.5	%		$	113,197			+7.9	%			$	241,254			$	224,094			+7.7	%
Net interest margin - fully tax equivalent		3.81		%		3.79		%		+0.02	%		3.84		%		-0.03	%			3.80		%		3.89		%		-0.09	%
Net interest margin - fully tax equivalent, excluding acquisition accounting discount accretion on Taylor Capital loans		3.57		%		3.55		%		+0.02	%		3.57		%		0.00	%			3.56		%		3.59		%		-0.03	%

Net interest income on a fully tax equivalent basis increased in the second quarter of 2016 compared to the prior quarter due to higher average loan balances and higher yields earned on loans. Net interest income on a fully tax equivalent basis increased in the second quarter of 2016 compared to the second quarter of 2015 primarily due to an increase in average loans, partially offset by an increase in average borrowings and an increase in the average cost of deposits as a result of the increase in interest rates.

Our net interest margin on a fully tax equivalent basis, excluding accretion on loans acquired in the Taylor Capital merger, was stable at 3.57% in the second quarter of 2016 compared to 3.55% last quarter and 3.57% in the same quarter of last year.

Net interest income on a fully tax equivalent basis increased in the six months ended June 30, 2016 compared to the six months ended June 30, 2015 primarily due to an increase in average loans, partially offset by an increase in average borrowings and an increase in the cost of deposits as well as lower average yields earned on interest earning assets.  

Our net interest margin on a fully tax equivalent basis, excluding accretion on loans acquired in the Taylor Capital merger, decreased slightly to 3.56% in the six months ended June 30, 2016 compared to 3.59% in the six months ended June 30, 2015.

See the supplemental net interest margin tables in the "Net Interest Margin" section for further detail.  Reconciliations of net interest income and net interest margin to net interest income and net interest margin on a fully tax equivalent basis and to net interest income and net interest margin on a fully tax equivalent basis, excluding acquisition accounting discount accretion on Taylor Capital loans are also set forth in the tables in the "Net Interest Margin" section.

Non-interest Income

The following table presents non-interest income (in thousands):

																							Six Months Ended
																							June 30,
		2Q16				1Q16				4Q15				3Q15				2Q15					2016				2015
Core non-interest income:
Key fee initiatives:
Lease financing revenues, net		$	15,708			$	19,046			$	15,937			$	20,000			$	15,564				$	34,754			$	40,644
Mortgage banking revenue		39,615				27,482				26,542				30,692				35,648					67,097				60,192
Commercial deposit and treasury management fees		11,548				11,878				11,711				11,472				11,062					23,426				22,100
Trust and asset management fees		8,236				7,950				6,077				6,002				5,752					16,186				11,466
Card fees		4,045				3,525				3,651				3,335				4,409					7,570				8,336
Capital markets and international banking service fees		2,771				3,227				2,355				2,357				1,508					5,998				3,436
Total key fee initiatives		81,923				73,108				66,273				73,858				73,943					155,031				146,174
Consumer and other deposit service fees		3,161				3,025				3,440				3,499				3,260					6,186				6,343
Brokerage fees		1,315				1,158				1,252				1,281				1,543					2,473				3,221
Loan service fees		1,961				1,752				1,890				1,531				1,353					3,713				2,838
Increase in cash surrender value of life insurance		850				854				864				852				836					1,704				1,675
Other operating income		2,043				1,836				1,344				1,730				2,098					3,879				4,200
Total core non-interest income		91,253				81,733				75,063				82,751				83,033					172,986				164,451
Non-core non-interest income:
Net gain (loss) on investment securities		269				—				(3		)		371				(84		)			269				(544		)
Net (loss) gain on sale of other assets		(2		)		(48		)		—				1				(7		)			(50		)		(3		)
Increase (decrease) in market value of assets held in trust for deferred compensation (1)		480				8				565				(872		)		7					488				313
Total non-core non-interest income		747				(40		)		562				(500		)		(84		)			707				(234		)
Total non-interest income		$	92,000			$	81,693			$	75,625			$	82,251			$	82,949				$	173,693			$	164,217

⁽¹⁾ Resides in other operating income in the consolidated statements of operations.

Core non-interest income for the second quarter of 2016 increased by $9.5 million, or 11.6%, to $91.3 million from the first quarter of 2016.

• Mortgage banking revenue increased due to higher origination volumes as a result of the favorable interest rate environment and higher gains on sale margins.
  
• Card fees increased primarily due to higher prepaid card revenue.  
  
• Lease financing revenues decreased due to a decrease in fees from the sale of third-party equipment maintenance contracts.
  
• Capital markets and international banking services fees decreased due to lower swap fees partially offset by higher syndication and M&A advisory fees.
  

Core non-interest income for the six months ended June 30, 2016 increased by $8.5 million, or 5.2%, to $173.0 million from the six months ended June 30, 2015.

• Mortgage banking revenue increased due to higher mortgage servicing fees partly offset by lower mortgage origination fees.
  
• Trust and asset management fees increased due to the addition of new customers as well as the acquisitions of MSA Holdings, LLC ("MSA") and the Illinois court-appointed guardianship and special needs trust business. 
  
• Capital markets and international banking services fees increased due to higher swap, syndication and M&A advisory fees partly offset by lower commercial real estate advisory fees.
  
• Commercial deposit and treasury management fees increased due to new customer activity.
  
• Loan service fees increased due to higher unused line and letter of credit fees.
  
• Lease financing revenues decreased due to lower residual gains and fees from the sale of third-party equipment maintenance contracts.
  
• Card fees decreased due to the impact of becoming subject to the Durbin amendment of the Dodd-Frank Act starting on July 1, 2015, which was partly offset by an increase in prepaid card revenue and credit card fees.  We estimate the quarterly impact of the Durbin amendment was a loss of $1.2 million of revenue.
  

Non-interest Expense

The following table presents non-interest expense (in thousands):

																							Six Months Ended
																							June 30,
		2Q16				1Q16				4Q15				3Q15				2Q15					2016				2015
Core non-interest expense: (1)
Salaries and employee benefits expense:
Salaries and commissions		$	61,105			$	58,282			$	56,741			$	59,358			$	57,459				$	119,387			$	114,858
Bonus and stock-based compensation		13,971				9,532				11,436				11,316				11,264					23,503				21,356
Health and accident insurance		6,079				5,599				4,646				5,640				5,296					11,678				10,789
Other salaries and benefits (2)		13,045				12,089				11,533				12,446				12,119					25,134				23,582
Total salaries and employee benefits expense		94,200				85,502				84,356				88,760				86,138					179,702				170,585
Occupancy and equipment expense		13,407				13,260				12,935				12,456				12,081					26,667				24,844
Computer services and telecommunication expense		9,266				8,750				8,548				8,558				8,407					18,016				17,041
Advertising and marketing expense		2,923				2,855				2,549				2,578				2,497					5,778				4,943
Professional and legal expense		3,220				2,492				2,715				1,496				1,902					5,712				4,382
Other intangible amortization expense		1,618				1,626				1,546				1,542				1,509					3,244				3,027
Net (gain) loss recognized on other real estate owned (A)		(297		)		(637		)		(256		)		520				662					(934		)		1,550
Net loss (gain) recognized on other real estate owned related to FDIC transactions (A)		312				154				(549		)		65				(88		)			466				(361		)
Other real estate expense, net (A)		243				137				76				(8		)		150					380				431
Other operating expenses		19,813				18,366				18,932				18,782				18,238					38,179				36,514
Total core non-interest expense		144,705				132,505				130,852				134,749				131,496					277,210				262,956
Non-core non-interest expense: (1)
Merger related and repositioning expenses (B)		2,566				3,287				(4,186		)		389				1,234					5,853				9,303
Branch exit and facilities impairment charges		155				—				—				—				—					155				—
Prepayment fees on interest bearing liabilities		—				—				—				—				—					—				85
Increase (decrease) in market value of assets held in trust for deferred compensation (C)		480				8				565				(872		)		7					488				313
Total non-core non-interest expense		3,201				3,295				(3,621		)		(483		)		1,241					6,496				9,701
Total non-interest expense		$	147,906			$	135,800			$	127,231			$	134,266			$	132,737				$	283,706			$	272,657

(1) Letters denote the corresponding line items where these non-core non-interest expense items reside in the consolidated statements of operations as follows:  A – Net loss (gain) recognized on other real estate owned and other expense, B – See merger related and repositioning expenses table below, and C – Salaries and employee benefits.

(2) Includes payroll taxes, 401(k) and profit sharing contributions, overtime and temporary help expenses.

Core non-interest expense increased by $12.2 million, or 9.2%, from the first quarter of 2016 to $144.7 million for the second quarter of 2016.

• Salaries and employee benefits expense was up due to the following: 
  
  • Bonus and stock-based compensation increased due to an increase in bonus expense based on company performance through June 2016.  Bonus expense for the first quarter of 2016 included a reduction in expense related to 2015 bonus payments.
    
    
  • Salaries and commissions expense increased due to higher mortgage commission expense resulting from higher mortgage origination volumes and annual pay increases effective in the beginning of the second quarter.
• Other operating expenses increased due to higher filing and other loan expense.
  
• Professional and legal expense increased due to an increase in litigation fees and organizational legal fees related to the setup of a Canadian entity as well as an increase in consulting expense.
  
• Computer services and telecommunication expense increased due to higher processing fees and increased spending in infrastructure.
  

Core non-interest expense increased by $14.3 million, or 5.4%, from the six months ended June 30, 2015 to $277.2 million for the six months ended June 30, 2016.

• Salaries and employee benefits expense was up due to the following:
  
  • Salaries and commissions expense increased due to annual pay increases effective in the beginning of the second quarter as well as new hires. 
  • Bonus and stock-based compensation increased due to an increase in bonus expense based on company performance through June 2016.
  • Other benefits expense increased due to increased temporary help in our IT and mortgage areas as well as higher 401(k) match and profit sharing contribution expense.
• Occupancy and equipment expense increased due to higher depreciation expense and rental operating expenses as a result of the acquisition of MSA, new offices opened at our mortgage banking segment and an office relocation at our leasing segment.
  
• Other operating expenses increased due to higher FDIC premiums (as a result of MB Financial Bank, N.A. (the "Bank") exceeding $10 billion in assets) and card expenses (higher rewards and product development expense).
  
• Professional and legal expense increased due to an increase in litigation and consulting fees. 
  
• Computer services and telecommunication expense increased due to higher processing costs as a result of increased customer activity and investments in systems.
  
• Advertising and marketing expense increased due to increased advertising.
  

The following table presents the detail of the merger related and repositioning expenses (in thousands):

																							Six Months Ended
																							June 30,
		2Q16				1Q16				4Q15				3Q15				2Q15					2016				2015
Merger related and repositioning expenses:
Salaries and employee benefits		$	324			$	81			$	(212	)		$	3			$	—				$	405			$	33
Occupancy and equipment expense		8				—				—				2				96					8				273
Computer services and telecommunication expense		511				305				(103		)		9				130					816				400
Advertising and marketing expense		41				23				2				—				—					64				—
Professional and legal expense		101				97				1,454				305				511					198				701
Branch exit and facilities impairment charges		—				44				616				70				438					44				7,829
Contingent consideration expense - Celtic acquisition (1)		—				2,703				—				—				—					2,703				—
Other operating expenses		1,581				34				(5,943		)		—				59					1,615				67
Total merger related and repositioning expenses		$	2,566			$	3,287			$	(4,186	)		$	389			$	1,234				$	5,853			$	9,303

⁽¹⁾ Resides in other operating expenses in the consolidated statements of operations.

In the second quarter of 2016, merger related and repositioning expenses included a $1.5 million contract termination fee related to the anticipated ACB integration (reflected in other operating expenses).  In the first quarter of 2016, merger related and repositioning expenses included an increase in our contingent consideration accrual for our acquisition of Celtic Leasing Corp. as a result of stronger lease residual performance than previously estimated.  In the fourth quarter of 2015, merger related and repositioning expenses were impacted by the reversal of an accrual for a potential contingent loss we assumed in connection with the Taylor Capital merger (reflected in other operating expenses).

Operating Segments

The Company's operations consist of three reportable operating segments: Banking, Leasing and Mortgage Banking.  Our Banking Segment generates revenues primarily from its lending, deposit gathering and fee business activities.  Our Leasing Segment generates revenues through lease originations and related services offered through the Company's leasing subsidiaries: LaSalle Systems Leasing, Inc., Celtic Leasing Corp. and MB Equipment Finance, LLC.  Our Mortgage Banking Segment originates residential mortgage loans for sale to investors through its retail and third party origination channels as well as residential mortgage loans held in our loan portfolio.  The Mortgage Banking Segment also services residential mortgage loans owned by investors and the Company.

The following tables summarize financial information, adjusted for funds transfer pricing and internal allocations of certain expenses, for the reportable segments for the periods presented (in thousands):

	Banking				Leasing				Mortgage Banking				Non-core Items				Consolidated
Three months ended June 30, 2016
Net interest income	$	112,152			$	2,411			$	8,039			$	—			$	122,602
Provision for credit losses	2,995				(356		)		190				—				2,829
Net interest income after provision for credit losses	109,157				2,767				7,849				—				119,773
Non-interest income:
Lease financing revenues, net	789				14,919				—				—				15,708
Mortgage origination fees	—				—				31,417				—				31,417
Mortgage servicing fees	—				—				8,198				—				8,198
Other non-interest income	35,132				798				—				747				36,677
Total non-interest income	35,921				15,717				39,615				747				92,000
Non-interest expense:
Salaries and employee benefits expense:
Salaries and commissions	36,552				5,317				19,236				—				61,105
Bonus and stock-based compensation	11,676				1,028				1,267				—				13,971
Health and accident insurance	3,816				376				1,887				—				6,079
Other salaries and benefits (1)	8,170				886				3,989				804				13,849
Total salaries and employee benefits expense	60,214				7,607				26,379				804				95,004
Occupancy and equipment expense	10,561				947				1,899				8				13,415
Computer services and telecommunication expense	6,945				431				1,890				511				9,777
Professional and legal expense	2,385				414				421				101				3,321
Other operating expenses	16,587				1,716				6,309				1,777				26,389
Total non-interest expense	96,692				11,115				36,898				3,201				147,906
Income before income taxes	48,386				7,369				10,566				(2,454		)		63,867
Income tax expense	14,353				2,879				4,226				(1,003		)		20,455
Net income	$	34,033			$	4,490			$	6,340			$	(1,451	)		$	43,412

⁽¹⁾ Includes payroll taxes, 401(k) and profit sharing contributions, overtime and temporary help expenses.

	Banking				Leasing				Mortgage Banking				Non-core Items				Consolidated
Three months ended March 31, 2016
Net interest income	$	109,608			$	2,423			$	7,273			$	—			$	119,304
Provision for credit losses	7,001				437				125				—				7,563
Net interest income after provision for credit losses	102,607				1,986				7,148				—				111,741
Non-interest income:
Lease financing revenues, net	679				18,367				—				—				19,046
Mortgage origination fees	—				—				16,894				—				16,894
Mortgage servicing fees	—				—				10,588				—				10,588
Other non-interest income	34,380				828				(3		)		(40		)		35,165
Total non-interest income	35,059				19,195				27,479				(40		)		81,693
Non-interest expense:
Salaries and employee benefits expense:
Salaries and commissions	35,154				6,715				16,413				—				58,282
Bonus and stock-based compensation	7,245				925				1,362				—				9,532
Health and accident insurance	3,461				335				1,803				—				5,599
Other salaries and benefits (1)	7,542				1,108				3,439				89				12,178
Total salaries and employee benefits expense	53,402				9,083				23,017				89				85,591
Occupancy and equipment expense	10,430				895				1,935				—				13,260
Computer services and telecommunication expense	6,446				363				1,941				305				9,055
Professional and legal expense	1,486				409				597				97				2,589
Other operating expenses	15,570				1,447				5,484				2,804				25,305
Total non-interest expense	87,334				12,197				32,974				3,295				135,800
Income before income taxes	50,332				8,984				1,653				(3,335		)		57,634
Income tax expense	14,927				3,509				661				(577		)		18,520
Net income	$	35,405			$	5,475			$	992			$	(2,758	)		$	39,114

⁽¹⁾ Includes payroll taxes, 401(k) and profit sharing contributions, overtime and temporary help expenses.

Net income from our Banking Segment for the second quarter of 2016 decreased compared to the prior quarter.  This decrease in net income was primarily due to higher salaries and employee benefits expense due to higher bonus expense and annual pay increases partly offset by an increase in net interest income driven by loan growth and higher loan yields and a decrease in provision for credit losses expense.

Net income from our Leasing Segment for the second quarter of 2016 decreased compared to the prior quarter.  This decrease in net income was primarily due to a decrease in lease financing revenues, as a result of a decrease in fees from the sale of third-party equipment maintenance contracts, partly offset by a decrease in commission expense and provision for credit losses expense. 

Net income from our Mortgage Banking Segment for the second quarter of 2016 increased compared to the prior quarter.  This increase in net income was due to an increase in mortgage origination fees and net interest income, which was partly offset by higher mortgage commission expense and other operating expenses.  The increase in mortgage origination fees was driven by higher origination volumes in the second quarter of 2016, as a result of the favorable interest rate environment, and higher gains on sale margins.
The following tables summarize financial information, adjusted for funds transfer pricing and internal allocations of certain expenses, for the reportable segments for the periods presented (in thousands):

	Banking				Leasing				Mortgage Banking				Non-core Items				Consolidated
Six months ended June 30, 2016
Net interest income	$	221,760			$	4,834			$	15,312			$	—			$	241,906
Provision for credit losses	9,996				81				315				—				10,392
Net interest income after provision for credit losses	211,764				4,753				14,997				—				231,514
Non-interest income:
Lease financing, net	1,468				33,286				—				—				34,754
Mortgage origination fees	—				—				48,311				—				48,311
Mortgage servicing fees	—				—				18,786				—				18,786
Other non-interest income	69,512				1,626				(3		)		707				71,842
Total non-interest income	70,980				34,912				67,094				707				173,693
Non-interest expense:
Salaries and employee benefits expense:
Salaries and commissions	71,706				12,032				35,649				—				119,387
Bonus and stock-based compensation	18,921				1,953				2,629				—				23,503
Health and accident insurance	7,277				711				3,690				—				11,678
Other salaries and benefits (1)	15,712				1,994				7,428				893				26,027
Total salaries and employee benefits expense	113,616				16,690				49,396				893				180,595
Occupancy and equipment expense	20,991				1,842				3,834				8				26,675
Computer services and telecommunication expense	13,391				794				3,831				816				18,832
Professional and legal expense	3,871				823				1,018				198				5,910
Other operating expenses	32,157				3,163				11,793				4,581				51,694
Total non-interest expense	184,026				23,312				69,872				6,496				283,706
Income before income taxes	98,718				16,353				12,219				(5,789		)		121,501
Income tax expense	29,280				6,388				4,887				(1,580		)		38,975
Net income	$	69,438			$	9,965			$	7,332			$	(4,209	)		$	82,526

⁽¹⁾ Includes payroll taxes, 401(k) and profit sharing contributions, overtime and temporary help expenses.

	Banking				Leasing				Mortgage Banking				Non-core Items				Consolidated
Six months ended June 30, 2015
Net interest income	$	208,478			$	5,930			$	13,460			$	—			$	227,868
Provision for credit losses	7,818				1,356				96				—				9,270
Net interest income after provision for credit losses	200,660				4,574				13,364				—				218,598
Non-interest income:
Lease financing, net	933				39,711				—				—				40,644
Mortgage origination fees	—				—				53,758				—				53,758
Mortgage servicing fees	—				—				6,434				—				6,434
Other non-interest income	61,926				1,685				4				(234		)		63,381
Total non-interest income	62,859				41,396				60,196				(234		)		164,217
Non-interest expense:
Salaries and employee benefits expense:
Salaries and commissions	67,647				13,615				33,596				—				114,858
Bonus and stock-based compensation	17,367				1,800				2,189				—				21,356
Health and accident insurance	7,043				644				3,102				—				10,789
Other salaries and benefits (1)	14,480				1,716				7,386				346				23,928
Total salaries and employee benefits expense	106,537				17,775				46,273				346				170,931
Occupancy and equipment expense	20,187				1,656				3,001				273				25,117
Computer services and telecommunication expense	12,604				569				3,868				400				17,441
Professional and legal expense	3,223				554				605				701				5,083
Other operating expenses	30,720				2,930				12,454				7,981				54,085
Total non-interest expense	173,271				23,484				66,201				9,701				272,657
Income before income taxes	90,248				22,486				7,359				(9,935		)		110,158
Income tax expense	27,274				8,820				2,944				(3,943		)		35,095
Net income	$	62,974			$	13,666			$	4,415			$	(5,992	)		$	75,063

⁽¹⁾ Includes payroll taxes, 401(k) and profit sharing contributions, overtime and temporary help expenses.

Net income from our Banking Segment for the six months ended June 30, 2016 increased compared to the six months ended June 30, 2015.  This increase in net income was primarily due to an increase in net interest income driven by loan growth and an increase in other non-interest income partly offset by higher salaries and employee benefits expense due to annual pay increases, new hires and bonus expense as well as an increase in provision for credit losses expense.

Net income from our Leasing Segment for the six months ended June 30, 2016 decreased compared to the six months ended June 30, 2015.  This decrease in net income was primarily due to a decrease in lease financing revenues, as a result of a decrease in residual gains and fees from the sale of third-party equipment maintenance contracts, partly offset by a decrease in commission expense and provision for credit losses expense.

Net income from our Mortgage Banking Segment for the six months ended June 30, 2016 increased compared to the six months ended June 30, 2015.  This increase in net income was due to an increase in mortgage servicing fees and net interest income, which was partly offset by lower mortgage origination fees and higher salaries expense due to annual pay increases and new hires.

The following table presents additional information regarding the Mortgage Banking Segment (dollars in thousands):

		2Q16				1Q16				4Q15				3Q15				2Q15
Origination volume:		$	1,709,044			$	1,328,804			$	1,437,057			$	1,880,960			$	2,010,175
Refinance		42		%		49		%		42		%		34		%		43		%
Purchase		58				51				58				66				57
Origination volume by channel:
Retail		23		%		19		%		18		%		18		%		18		%
Third party		77				81				82				82				82
Mortgage servicing book (unpaid principal balance of loans serviced for others) at period end (1)		$	17,739,626			$	16,911,325			$	16,218,613			$	15,582,911			$	23,588,345
Mortgage servicing rights, recorded at fair value, at period end		134,969				145,800				168,162				148,097				261,034
Notional value of rate lock commitments, at period end		981,000				823,000				622,906				800,162				992,025

⁽¹⁾ 3Q15 does not include the unpaid principal balance of serviced loans sold in July 2015 that continued to be sub-serviced through October 2015.

LOAN PORTFOLIO

The following table sets forth the composition of the loan portfolio (excluding loans held for sale) based on period end balances as of the dates indicated (dollars in thousands):

		6/30/2016							3/31/2016							12/31/2015							9/30/2015							6/30/2015
		Amount				% of Total			Amount				% of Total			Amount				% of Total			Amount				% of Total			Amount				% of Total
Commercial-related credits:
Commercial loans		$	3,561,500			35	%		$	3,509,604			36	%		$	3,616,286			37	%		$	3,440,632			37	%		$	3,354,889			37	%
Commercial loans collateralized by assignment of lease payments (lease loans)		1,794,465				18			1,774,104				18			1,779,072				18			1,693,540				18			1,690,866				18
Commercial real estate		2,827,720				28			2,831,814				28			2,695,676				27			2,580,009				27			2,539,991				28
Construction real estate		357,807				3			310,278				3			252,060				3			255,620				3			189,599				2
Total commercial-related credits		8,541,492				84			8,425,800				85			8,343,094				85			7,969,801				85			7,775,345				85
Other loans:
Residential real estate		753,707				7			677,791				7			628,169				6			607,171				6			533,118				6
Indirect vehicle		491,480				5			432,915				4			384,095				4			345,731				4			303,777				3
Home equity		198,622				2			207,079				2			216,573				2			223,173				2			230,478				3
Consumer loans		75,775				1			77,318				1			80,661				1			87,612				1			86,463				1
Total other loans		1,519,584				15			1,395,103				14			1,309,498				13			1,263,687				13			1,153,836				13
Total loans, excluding purchased credit- impaired loans		10,061,076				99			9,820,903				99			9,652,592				98			9,233,488				98			8,929,181				98
Purchased credit-impaired loans		136,811				1			140,445				1			141,406				2			155,693				2			164,775				2
Total loans		$	10,197,887			100	%		$	9,961,348			100	%		$	9,793,998			100	%		$	9,389,181			100	%		$	9,093,956			100	%
Change over prior quarter		+2.4		%					+1.7		%					+4.3		%					+3.2		%					+1.9		%

Our loan balances, excluding purchased credit-impaired loans, increased $240.2 million (+2.4%, or +9.8% annualized) during the second quarter of 2016.  Residential real estate loan balances have increased over the past year as a result of retaining adjustable rate mortgages originated by our Mortgage Banking Segment in our loan portfolio.  Construction loans have increased over the past year due to draws on new and existing credit lines primarily in the areas of apartments, healthcare and office.  Indirect vehicle loans have increased as a result of growth in boat, motorcycle and other recreational vehicle loans. 

The following table sets forth the composition of the loan portfolio (excluding loans held for sale) based on quarterly average balances for the periods indicated (dollars in thousands):

		2Q16							1Q16							4Q15							3Q15							2Q15
		Amount				% of Total			Amount				% of Total			Amount				% of Total			Amount				% of Total			Amount				% of Total
Commercial-related credits:
Commercial loans		$	3,522,641			35	%		$	3,531,441			36	%		$	3,492,161			37	%		$	3,372,279			37	%		$	3,309,519			37	%
Commercial loans collateralized by assignment of lease payments (lease loans)		1,777,763				18			1,754,558				18			1,708,404				18			1,674,939				18			1,634,583				18
Commercial real estate		2,821,516				28			2,734,148				28			2,627,004				28			2,568,539				28			2,522,473				28
Construction real estate		351,079				3			276,797				3			274,188				2			210,506				2			191,935				2
Total commercial-related credits		8,472,999				84			8,296,944				85			8,101,757				85			7,826,263				85			7,658,510				85
Other loans:
Residential real estate		710,384				7			640,231				7			612,275				6			566,115				6			512,766				6
Indirect vehicle		462,053				5			404,473				4			365,744				4			325,323				4			286,107				3
Home equity		202,228				2			210,678				2			219,440				2			226,365				2			233,867				3
Consumer loans		78,108				1			80,569				1			83,869				1			85,044				1			76,189				1
Total other loans		1,452,773				15			1,335,951				14			1,281,328				13			1,202,847				13			1,108,929				13
Total loans, excluding purchased credit- impaired loans		9,925,772				99			9,632,895				99			9,383,085				98			9,029,110				98			8,767,439				98
Purchased credit-impaired loans		136,415				1			139,451				1			154,562				2			156,309				2			202,374				2
Total loans		$	10,062,187			100	%		$	9,772,346			100	%		$	9,537,647			100	%		$	9,185,419			100	%		$	8,969,813			100	%
Change over prior quarter		+3.0		%					+2.5		%					+3.8		%					+2.4		%					+0.9		%

Our average loan balances, excluding purchased credit-impaired loans, increased $292.9 million (+3.0%, or +12.2% annualized) during the second quarter of 2016.

ASSET QUALITY

The following table presents a summary of criticized assets (excluding loans held for sale) as of the dates indicated (dollars in thousands):

		6/30/2016				3/31/2016				12/31/2015				9/30/2015				6/30/2015
Non-performing loans:
Non-accrual loans (1)		$	67,544			$	93,602			$	98,065			$	92,302			$	91,943
Loans 90 days or more past due, still accruing interest		7,190				1,112				6,596				4,275				6,112
Total non-performing loans		74,734				94,714				104,661				96,577				98,055
Other real estate owned		27,663				28,309				31,553				29,587				28,517
Repossessed assets		459				187				81				216				78
Total non-performing assets		$	102,856			$	123,210			$	136,295			$	126,380			$	126,650
Potential problem loans (2)		$	99,782			$	110,193			$	139,941			$	122,966			$	116,443
Purchased credit-impaired loans		$	136,811			$	140,445			$	141,406			$	155,693			$	164,775
Total non-performing, potential problem and purchased credit-impaired loans		$	311,327			$	345,352			$	386,008			$	375,236			$	379,273
Total allowance for loan and lease losses		$	135,614			$	134,493			$	128,140			$	124,626			$	120,070
Accruing restructured loans (3)		26,715				27,269				26,991				20,120				16,875
Total non-performing loans to total loans		0.73		%		0.95		%		1.07		%		1.03		%		1.08		%
Total non-performing assets to total assets		0.64				0.79				0.87				0.85				0.84
Allowance for loan and lease losses to non-performing loans		181.46				142.00				122.43				129.04				122.45

⁽¹⁾ Includes $29.3 million, $24.0 million, $23.6 million, $21.4 million and $24.5 million of restructured loans on non-accrual status at June 30, 2016, March 31, 2016, December 31, 2015, September 30, 2015 and June 30, 2015, respectively.
⁽²⁾ We define potential problem loans as loans rated substandard that do not meet the definition of a non-performing loan.  Potential problem loans carry a higher probability of default and require additional attention by management.
⁽³⁾ Accruing restructured loans consist of loans that have been modified and are performing in accordance with those modified terms as of the dates indicated.

The following table presents data related to non-performing loans by category (excluding loans held for sale and purchased credit-impaired loans that were acquired as part of our FDIC-assisted transactions and the Taylor Capital merger) as of the dates indicated (in thousands):

		6/30/2016				3/31/2016				12/31/2015				9/30/2015				6/30/2015
Commercial and lease		$	29,509			$	28,590			$	37,076			$	34,465			$	31,053
Commercial real estate		7,163				27,786				29,073				25,437				32,358
Construction real estate		—				—				—				—				337
Consumer related		38,062				38,338				38,512				36,675				34,307
Total non-performing loans		$	74,734			$	94,714			$	104,661			$	96,577			$	98,055

Non-performing commercial real estate loans decreased at June 30, 2016 compared to March 31, 2016 as a result of loans paid off during the quarter.

The following table represents a summary of other real estate owned (excluding other real estate owned acquired as part of our FDIC-assisted transactions) as of the dates indicated (in thousands):

		6/30/2016				3/31/2016				12/31/2015				9/30/2015				6/30/2015
Balance at the beginning of quarter		$	28,309			$	31,553			$	29,587			$	28,517			$	21,839
Transfers in at fair value less estimated costs to sell		1,367				1,270				5,964				2,402				8,595
Fair value adjustments		70				45				(721		)		(565		)		(920		)
Net gains on sales of other real estate owned		227				592				977				45				258
Cash received upon disposition		(2,310		)		(5,151		)		(4,254		)		(812		)		(1,255		)
Balance at the end of quarter		$	27,663			$	28,309			$	31,553			$	29,587			$	28,517

Below is a reconciliation of the activity in our allowance for credit and loan losses for the periods indicated (dollars in thousands):

																							Six Months Ended
																							June 30,
		2Q16				1Q16				4Q15				3Q15				2Q15					2016				2015
Allowance for credit losses, balance at the beginning of period		$	137,732			$	131,508			$	128,038			$	124,130			$	117,189				$	131,508			$	114,057
Provision for credit losses		2,829				7,563				6,758				5,358				4,296					10,392				9,270
Charge-offs:
Commercial loans		72				713				710				1,657				57					785				626
Commercial loans collateralized by assignment of lease payments (lease loans)		2,347				574				685				1,980				100					2,921				100
Commercial real estate		1,720				352				1,251				170				108					2,072				2,142
Construction real estate		144				—				23				5				3					144				6
Residential real estate		476				368				261				292				318					844				897
Home equity		619				238				407				358				276					857				720
Indirect vehicle		651				931				898				581				627					1,582				1,501
Consumer loans		395				412				550				467				500					807				924
Total charge-offs		6,424				3,588				4,785				5,510				1,989					10,012				6,916
Recoveries:
Commercial loans		952				380				235				456				816					1,332				1,058
Commercial loans collateralized by assignment of lease payments (lease loans)		467				50				12				11				340					517				1,089
Commercial real estate		1,843				594				385				2,402				2,561					2,437				3,936
Construction real estate		17				27				19				216				35					44				37
Residential real estate		82				24				98				337				8					106				80
Home equity		193				318				132				186				160					511				261
Indirect vehicle		501				463				499				334				545					964				1,020
Consumer loans		141				393				117				118				169					534				238
Total recoveries		4,196				2,249				1,497				4,060				4,634					6,445				7,719
Total net charge-offs (recoveries)		2,228				1,339				3,288				1,450				(2,645		)			3,567				(803		)
Allowance for credit losses		138,333				137,732				131,508				128,038				124,130					138,333				124,130
Allowance for unfunded credit commitments		(2,719		)		(3,239		)		(3,368		)		(3,412		)		(4,060		)			(2,719		)		(4,060		)
Allowance for loan and lease losses		$	135,614			$	134,493			$	128,140			$	124,626			$	120,070				$	135,614			$	120,070
Total loans, excluding loans held for sale		$	10,197,887			$	9,961,348			$	9,793,998			$	9,389,181			$	9,093,956				$	10,197,887			$	9,093,956
Average loans, excluding loans held for sale		10,062,187				9,772,346				9,537,647				9,185,419				8,969,813					9,917,267				8,929,474
Ratio of allowance for loan and lease losses to total loans, excluding loans held for sale		1.33		%		1.35		%		1.31		%		1.33		%		1.32		%			1.33		%		1.32		%
Net loan charge-offs (recoveries) to average loans, excluding loans held for sale (annualized)		0.09				0.06				0.14				0.06				(0.12		)			0.07				(0.02		)

The following table presents the three elements of the Company's allowance for loan and lease losses as of the dates indicated (in thousands):

		6/30/2016				3/31/2016				12/31/2015				9/30/2015				6/30/2015
Commercial related loans:
General reserve		$	108,972			$	98,001			$	94,164			$	93,903			$	89,642
Specific reserve		12,205				20,995				16,173				13,683				11,303
Consumer related reserve		14,437				15,497				17,803				17,040				19,125
Total allowance for loan and lease losses		$	135,614			$	134,493			$	128,140			$	124,626			$	120,070

Purchased loans acquired in a business combination are recorded at estimated fair value on their purchase date without a carryover of the related allowance for loan and lease losses. These acquired loans are segregated into three types: pass rated loans with no discount attributable to credit quality, non-impaired loans with a discount attributable at least in part to credit quality and impaired loans with evidence of significant credit deterioration.

• Pass rated loans (typically performing loans) are accounted for in accordance with ASC 310-20 "Nonrefundable Fees and Other Costs" as these loans do not have evidence of credit deterioration since origination.
  
• Non-impaired loans (typically performing substandard loans) are accounted for in accordance with ASC 310-30 if they display at least some level of credit deterioration since origination.
  
• Impaired loans (typically substandard loans on non-accrual status) are accounted for in accordance with ASC 310-30 as they display significant credit deterioration since origination.
  

For pass rated loans (non-purchased credit-impaired loans), the difference between the estimated fair value of the loans (computed on a loan by loan basis) and the principal outstanding is accreted over the remaining life of the loans.

In accordance with ASC 310-30, for both purchased non-impaired loans and purchased credit-impaired loans ("PCI loans"), the difference between contractually required payments at acquisition and the cash flows expected to be collected is referred to as the non-accretable difference. Further, any excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable yield and is recognized into interest income over the remaining life of the loan when there is a reasonable expectation about the amount and timing of such cash flows.

Changes in the purchase accounting discount for loans acquired in the Taylor Capital merger were as follows for the three months ended June 30, 2016 (in thousands):

		Non- Accretable Discount - PCI Loans				Accretable Discount - PCI Loans				Accretable Discount - Non-PCI Loans				Total
Balance at beginning of period		$	10,954			$	13,479			$	29,818			$	54,251
Charge-offs		(9		)		—				—				(9		)
Accretion		—				(2,312		)		(5,390		)		(7,702		)
Transfer		(1,510		)		1,510				—				—
Balance at end of period		$	9,435			$	12,677			$	24,428			$	46,540

Changes in the purchase accounting discount for loans acquired in the Taylor Capital merger were as follows for the three months ended March 31, 2016 (in thousands):

		Non- Accretable Discount - PCI Loans				Accretable Discount - PCI Loans				Accretable Discount - Non-PCI Loans				Total
Balance at beginning of period		$	14,661			$	12,298			$	34,768			$	61,727
Charge-offs		(123		)		—				—				(123		)
Accretion		—				(2,403		)		(4,950		)		(7,353		)
Transfer		(3,584		)		3,584				—				—
Balance at end of period		$	10,954			$	13,479			$	29,818			$	54,251

The $1.5 million and $3.6 million purchase accounting discount transfer from non-accretable discount on purchased credit-impaired loans to accretable discount for the three months ended June 30, 2016 and March 31, 2016, respectively, was due to better than expected cash flows on several pools of purchased credit-impaired loans.

INVESTMENT SECURITIES

The following table sets forth, by type, the fair value and amortized cost of our investment securities, excluding FHLB and FRB stock, as well as the unrealized gain, net of our investment securities available for sale as of the dates indicated (in thousands):

		6/30/2016				3/31/2016				12/31/2015				9/30/2015				6/30/2015
Securities available for sale:
Fair value
Government sponsored agencies and enterprises		$	54,457			$	64,762			$	64,611			$	65,461			$	65,485
States and political subdivisions		400,948				398,024				396,367				399,274				395,912
Mortgage-backed securities		785,367				834,559				893,656				847,426				902,017
Corporate bonds		225,525				224,530				219,628				228,251				246,468
Equity securities		11,098				10,969				10,761				10,826				10,669
Total fair value		$	1,477,395			$	1,532,844			$	1,585,023			$	1,551,238			$	1,620,551
Amortized cost
Government sponsored agencies and enterprises		$	53,674			$	63,600			$	63,805			$	64,008			$	64,211
States and political subdivisions		369,816				371,006				373,285				379,015				380,221
Mortgage-backed securities		769,109				820,825				888,325				834,791				890,334
Corporate bonds		224,730				225,657				222,784				228,711				245,506
Equity securities		10,872				10,814				10,757				10,701				10,644
Total amortized cost		$	1,428,201			$	1,491,902			$	1,558,956			$	1,517,226			$	1,590,916
Unrealized gain, net
Government sponsored agencies and enterprises		$	783			$	1,162			$	806			$	1,453			$	1,274
States and political subdivisions		31,132				27,018				23,082				20,259				15,691
Mortgage-backed securities		16,258				13,734				5,331				12,635				11,683
Corporate bonds		795				(1,127		)		(3,156		)		(460		)		962
Equity securities		226				155				4				125				25
Total unrealized gain, net		$	49,194			$	40,942			$	26,067			$	34,012			$	29,635
Securities held to maturity, at amortized cost:
States and political subdivisions		$	960,784			$	986,340			$	1,016,519			$	1,002,963			$	974,032
Mortgage-backed securities		190,631				205,570				214,291				221,889				229,595
Total amortized cost		$	1,151,415			$	1,191,910			$	1,230,810			$	1,224,852			$	1,203,627

Our investment securities, excluding FHLB and FRB stock, decreased by $95.9 million to $2.6 billion at June 30, 2016 compared to $2.7 billion at March 31, 2016 primarily due to principal paydowns on our mortgage-backed securities that were not re-invested in the portfolio.

DEPOSIT MIX

The following table shows the composition of deposits based on period end balances as of the dates indicated (dollars in thousands):

		6/30/2016							3/31/2016							12/31/2015							9/30/2015							6/30/2015
		Amount				% of Total			Amount				% of Total			Amount				% of Total			Amount				% of Total			Amount				% of Total
Low cost deposits:
Non-interest bearing deposits		$	4,775,364			42	%		$	4,667,410			40	%		$	4,627,184			40	%		$	4,434,067			39	%		$	4,378,005			40	%
Money market, NOW and interest bearing deposits		3,771,111				33			4,048,054				35			4,144,633				36			4,129,414				37			3,842,264				35
Savings		1,021,845				9			991,300				9			974,555				8			953,746				8			970,875				9
Total low cost deposits		9,568,320				84			9,706,764				84			9,746,372				84			9,517,227				84			9,191,144				84
Certificates of deposit:
Certificates of deposit		1,220,562				11			1,255,457				11			1,244,292				11			1,279,842				12			1,261,843				12
Brokered certificates of deposit		647,214				5			571,605				5			514,551				5			457,509				4			408,827				4
Total certificates of deposit		1,867,776				16			1,827,062				16			1,758,843				16			1,737,351				16			1,670,670				16
Total deposits		$	11,436,096			100	%		$	11,533,826			100	%		$	11,505,215			100	%		$	11,254,578			100	%		$	10,861,814			100	%
Change over prior quarter		-0.8		%					+0.2		%					+2.2		%					+3.6		%					-1.4		%

Non-interest bearing deposits grew by $108.0 million (+2.3%, or +9.3% annualized) during the second quarter of 2016 and comprised 42% of total deposits at quarter-end.  Total low cost deposits decreased $138.4 million (-1.4%, or -5.7% annualized) to $9.6 billion at June 30, 2016 compared to March 31, 2016 but continued to represent 84% of total deposits at quarter-end.  Money market, NOW and interest bearing deposits decreased due to the reduction in balances of certain large accounts.

The following table shows the composition of deposits based on quarterly average balances for the periods indicated (dollars in thousands):

		2Q16							1Q16							4Q15							3Q15							2Q15
		Amount				% of Total			Amount				% of Total			Amount				% of Total			Amount				% of Total			Amount				% of Total
Low cost deposits:
Non-interest bearing deposits		$	4,806,692			42	%		$	4,606,008			40	%		$	4,617,076			40	%		$	4,428,065			39	%		$	4,273,931			39	%
Money market, NOW and interest bearing deposits		3,836,134				33			4,109,150				36			4,214,099				37			4,119,625				36			3,940,201				36
Savings		1,006,902				9			984,019				9			959,049				8			965,060				9			972,327				9
Total low cost deposits		9,649,728				84			9,699,177				85			9,790,224				85			9,512,750				84			9,186,459				84
Certificates of deposit:
Certificates of deposit		1,237,198				11			1,237,971				11			1,245,947				11			1,304,516				12			1,302,031				12
Brokered certificates of deposit		598,702				5			534,910				4			492,839				4			427,649				4			412,517				4
Total certificates of deposit		1,835,900				16			1,772,881				15			1,738,786				15			1,732,165				16			1,714,548				16
Total deposits		$	11,485,628			100	%		$	11,472,058			100	%		$	11,529,010			100	%		$	11,244,915			100	%		$	10,901,007			100	%
Change over prior quarter		+0.1		%					-0.5		%					+2.5		%					+3.2		%					-0.8		%

CAPITAL

Tangible book value per common share was $17.48 at June 30, 2016 compared to $17.04 at March 31, 2016 and $16.36 at June 30, 2015.

Our regulatory capital ratios remain strong.  The Bank was categorized as “well capitalized” at June 30, 2016 under the Prompt Corrective Action (“PCA”) provisions.  The Bank would be categorized as "well capitalized" under the fully phased in rules under the Basel III regulatory capital reform.

FORWARD-LOOKING STATEMENTS

When used in this press release and in reports filed with or furnished to the Securities and Exchange Commission (the "SEC"), in other press releases or other public stockholder communications, or in oral statements made with the approval of an authorized executive officer, the words or phrases “believe,” “will,” “should,” “will likely result,” “are expected to,” “will continue” “is anticipated,” “estimate,” “project,” “plans,” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made.  These statements may relate to our future financial performance, strategic plans or objectives, revenues or earnings projections, or other financial items.  By their nature, these statements are subject to numerous uncertainties that could cause actual results to differ materially from those anticipated in the statements.

Important factors that could cause actual results to differ materially from the results anticipated or projected include, but are not limited to, the following: (1) expected revenues, cost savings, synergies and other benefits from the pending MB Financial-American Chartered merger might not be realized within the expected time frames or at all and costs or difficulties relating to integration matters, including but not limited to customer and employee retention, might be greater than expected; (2) the credit risks of lending activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for loan losses, which could necessitate additional provisions for loan losses, resulting both from originated loans and loans acquired from other financial institutions; (3) competitive pressures among depository institutions; (4) interest rate movements and their impact on customer behavior, net interest margin and the value of our mortgage servicing rights; (5) the possibility that our mortgage banking business may experience increased volatility in its revenues and earnings and the possibility that the profitability of our mortgage banking business could be significantly reduced if we are unable to originate and sell mortgage loans at profitable margins or if changes in interest rates negatively impact the value of our mortgage servicing rights; (6) the impact of repricing and competitors’ pricing initiatives on loan and deposit products; (7) fluctuations in real estate values; (8) the ability to adapt successfully to technological changes to meet customers’ needs and developments in the market place; (9) the possibility that security measures implemented might not be sufficient to mitigate the risk of a cyber attack or cyber theft, and that such security measures might not protect against systems failures or interruptions; (10) our ability to realize the residual values of its direct finance, leveraged and operating leases; (11) the ability to access cost-effective funding; (12) changes in financial markets; (13) changes in economic conditions in general and in the Chicago metropolitan area in particular; (14) the costs, effects and outcomes of litigation; (15) new legislation or regulatory changes, including but not limited to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd-Frank Act”) and regulations adopted thereunder, changes in capital requirements pursuant to the Dodd-Frank Act, changes in the interpretation and/or application of laws and regulations by regulatory authorities, other governmental initiatives affecting the financial services industry and changes in federal and/or state tax laws or interpretations thereof by taxing authorities; (16) changes in accounting principles, policies or guidelines; (17) our future acquisitions of other depository institutions or lines of business; and (18) future goodwill impairment due to changes in our business, changes in market conditions, or other factors.

We do not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date on which the forward-looking statement is made.

ADDITIONAL INFORMATION

In connection with the proposed merger between MB Financial and American Chartered, MB Financial filed a registration statement on Form S-4 with the SEC, which was declared effective by the SEC on February 4, 2016. The registration statement includes a proxy statement/prospectus, which was sent to the shareholders of American Chartered. Investors and shareholders of American Chartered are advised to read the proxy statement/prospectus, which was filed by MB Financial with the SEC on February 4, 2016, and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they contain, or will contain, as the case may be, important information about MB Financial, American Chartered and the proposed transaction. Copies of all documents relating to the merger filed by MB Financial can be obtained free of charge from the SEC’s website at www.sec.gov. These documents also can be obtained free of charge by accessing MB Financial’s website at www.mbfinancial.com under the tab “Investor Relations” and then under “SEC Filings.” Alternatively, these documents, when available, can be obtained free of charge from MB Financial upon written request to MB Financial, Inc., Corporate Secretary, 6111 North River Road, Rosemont, Illinois 60018 or by calling (847) 653-1992.

TABLES TO FOLLOW

MB FINANCIAL, INC. & SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (Unaudited)
As of the dates indicated
(In thousands)

		6/30/2016				3/31/2016				12/31/2015				9/30/2015				6/30/2015
ASSETS
Cash and due from banks		$	303,037			$	271,732			$	307,869			$	234,220			$	290,266
Interest earning deposits with banks		123,086				113,785				73,572				66,025				144,154
Total cash and cash equivalents		426,123				385,517				381,441				300,245				434,420
Federal funds sold		—				—				—				—				5
Investment securities:
Securities available for sale, at fair value		1,477,395				1,532,844				1,585,023				1,551,238				1,620,551
Securities held to maturity, at amortized cost		1,151,415				1,191,910				1,230,810				1,224,852				1,203,627
Non-marketable securities - FHLB and FRB Stock		130,232				121,750				114,233				91,400				111,400
Total investment securities		2,759,042				2,846,504				2,930,066				2,867,490				2,935,578
Loans held for sale		843,379				632,196				744,727				676,020				801,343
Loans:
Total loans, excluding purchased credit-impaired loans		10,061,076				9,820,903				9,652,592				9,233,488				8,929,181
Purchased credit-impaired loans		136,811				140,445				141,406				155,693				164,775
Total loans		10,197,887				9,961,348				9,793,998				9,389,181				9,093,956
Less: Allowance for loan and lease losses		135,614				134,493				128,140				124,626				120,070
Net loans		10,062,273				9,826,855				9,665,858				9,264,555				8,973,886
Lease investments, net		233,320				216,046				211,687				184,223				167,966
Premises and equipment, net		243,319				238,578				236,013				234,115				234,651
Cash surrender value of life insurance		138,657				137,807				136,953				136,089				135,237
Goodwill		725,039				725,068				725,070				711,521				711,521
Other intangibles		41,569				43,186				44,812				37,520				34,979
Mortgage servicing rights, at fair value		134,969				145,800				168,162				148,097				261,034
Other real estate owned, net		27,663				28,309				31,553				29,587				28,517
Other real estate owned related to FDIC transactions		8,356				10,397				10,717				13,825				13,867
Other assets		352,081				339,390				297,948				346,814				285,190
Total assets		$	15,995,790			$	15,575,653			$	15,585,007			$	14,950,101			$	15,018,194
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Deposits:
Noninterest bearing		$	4,775,364			$	4,667,410			$	4,627,184			$	4,434,067			$	4,378,005
Interest bearing		6,660,732				6,866,416				6,878,031				6,820,511				6,483,809
Total deposits		11,436,096				11,533,826				11,505,215				11,254,578				10,861,814
Short-term borrowings		1,246,994				884,101				1,005,737				940,529				1,382,635
Long-term borrowings		518,545				439,615				400,274				95,175				89,639
Junior subordinated notes issued to capital trusts		185,925				185,820				186,164				186,068				185,971
Accrued expenses and other liabilities		451,695				409,406				400,333				410,523				420,396
Total liabilities		13,839,255				13,452,768				13,497,723				12,886,873				12,940,455
Stockholders' Equity
Preferred stock		115,280				115,280				115,280				115,280				115,280
Common stock		757				756				756				756				754
Additional paid-in capital		1,288,777				1,284,438				1,280,870				1,277,348				1,273,333
Retained earnings		783,468				756,272				731,812				702,789				677,246
Accumulated other comprehensive income		28,731				24,687				15,777				20,968				18,778
Treasury stock		(60,732		)		(59,863		)		(58,504		)		(55,258		)		(9,035		)
Controlling interest stockholders' equity		2,156,281				2,121,570				2,085,991				2,061,883				2,076,356
Noncontrolling interest		254				1,315				1,293				1,345				1,383
Total stockholders' equity		2,156,535				2,122,885				2,087,284				2,063,228				2,077,739
Total liabilities and stockholders' equity		$	15,995,790			$	15,575,653			$	15,585,007			$	14,950,101			$	15,018,194

MB FINANCIAL, INC. & SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

																							Six Months Ended
																							June 30,
(Dollars in thousands, except per share data)		2Q16				1Q16				4Q15				3Q15				2Q15					2016				2015
Interest income:
Loans:
Taxable		$	110,231			$	104,923			$	106,137			$	100,573			$	98,768				$	215,154			$	197,614
Nontaxable		2,741				2,586				2,602				2,283				2,259					5,327				4,433
Investment securities:
Taxable		7,799				9,566				9,708				9,655				10,002					17,365				19,936
Nontaxable		10,644				10,776				10,969				10,752				10,140					21,420				19,253
Federal funds sold		—				—				1				—				—					—				—
Other interest earning accounts		125				141				110				89				57					266				119
Total interest income		131,540				127,992				129,527				123,352				121,226					259,532				241,355
Interest expense:
Deposits		5,952				5,622				5,357				5,102				4,554					11,574				9,199
Short-term borrowings		910				721				385				395				355					1,631				632
Long-term borrowings and junior subordinated notes		2,076				2,345				2,016				1,886				1,844					4,421				3,656
Total interest expense		8,938				8,688				7,758				7,383				6,753					17,626				13,487
Net interest income		122,602				119,304				121,769				115,969				114,473					241,906				227,868
Provision for credit losses		2,829				7,563				6,758				5,358				4,296					10,392				9,270
Net interest income after provision for credit losses		119,773				111,741				115,011				110,611				110,177					231,514				218,598
Non-interest income:
Lease financing revenue, net		15,708				19,046				15,937				20,000				15,564					34,754				40,644
Mortgage banking revenue		39,615				27,482				26,542				30,692				35,648					67,097				60,192
Commercial deposit and treasury management fees		11,548				11,878				11,711				11,472				11,062					23,426				22,100
Trust and asset management fees		8,236				7,950				6,077				6,002				5,752					16,186				11,466
Card fees		4,045				3,525				3,651				3,335				4,409					7,570				8,336
Capital markets and international banking service fees		2,771				3,227				2,355				2,357				1,508					5,998				3,436
Consumer and other deposit service fees		3,161				3,025				3,440				3,499				3,260					6,186				6,343
Brokerage fees		1,315				1,158				1,252				1,281				1,543					2,473				3,221
Loan service fees		1,961				1,752				1,890				1,531				1,353					3,713				2,838
Increase in cash surrender value of life insurance		850				854				864				852				836					1,704				1,675
Net gain (loss) on investment securities		269				—				(3		)		371				(84		)			269				(544		)
Net (loss) gain on sale of assets		(2		)		(48		)		—				1				(7		)			(50		)		(3		)
Other operating income		2,523				1,844				1,909				858				2,105					4,367				4,513
Total non-interest income		92,000				81,693				75,625				82,251				82,949					173,693				164,217
Non-interest expense:
Salaries and employee benefits expense		95,004				85,591				84,709				87,891				86,145					180,595				170,931
Occupancy and equipment expense		13,415				13,260				12,935				12,458				12,177					26,675				25,117
Computer services and telecommunication expense		9,777				9,055				8,445				8,567				8,537					18,832				17,441
Advertising and marketing expense		2,964				2,878				2,551				2,578				2,497					5,842				4,943
Professional and legal expense		3,321				2,589				4,169				1,801				2,413					5,910				5,083
Other intangible amortization expense		1,618				1,626				1,546				1,542				1,509					3,244				3,027
Branch exit and facilities impairment charges		155				44				616				70				438					199				7,829
Net loss (gain) recognized on other real estate owned and other expense		258				(346		)		(729		)		577				724					(88		)		1,620
Prepayment fees on interest bearing liabilities		—				—				—				—				—					—				85
Other operating expenses		21,394				21,103				12,989				18,782				18,297					42,497				36,581
Total non-interest expense		147,906				135,800				127,231				134,266				132,737					283,706				272,657
Income before income taxes		63,867				57,634				63,405				58,596				60,389					121,501				110,158
Income tax expense		20,455				18,520				19,798				18,318				19,437					38,975				35,095
Net income		43,412				39,114				43,607				40,278				40,952					82,526				75,063
Dividends on preferred shares		2,000				2,000				2,000				2,000				2,000					4,000				4,000
Net income available to common stockholders		$	41,412			$	37,114			$	41,607			$	38,278			$	38,952				$	78,526			$	71,063

																							Six Months Ended
																							June 30,
		2Q16				1Q16				4Q15				3Q15				2Q15					2016				2015
Common share data:
Basic earnings per common share		$	0.56			$	0.51			$	0.57			$	0.52			$	0.52				$	1.07			$	0.95
Diluted earnings per common share		0.56				0.50				0.56				0.51				0.52					1.06				0.94
Weighted average common shares outstanding for basic earnings per common share		73,475,258				73,330,731				73,296,602				74,297,281				74,596,925					73,402,995				74,582,097
Weighted average common shares outstanding for diluted earnings per common share		74,180,374				73,966,935				73,953,165				75,029,827				75,296,029					74,073,655				75,230,455
Common shares outstanding (at end of period)		73,740,348				73,639,487				73,678,329				73,776,196				75,073,292					73,740,348				75,073,292

Selected Financial Data:
																							Six Months Ended
																							June 30,
		2Q16				1Q16				4Q15				3Q15				2Q15					2016				2015
Performance Ratios:
Annualized return on average assets		1.11		%		1.02		%		1.13		%		1.06		%		1.12		%			1.06		%		1.04		%
Annualized operating return on average assets (1)		1.15				1.09				1.06				1.06				1.14					1.12				1.13
Annualized return on average common equity		8.27				7.52				8.48				7.75				8.02					7.90				7.41
Annualized operating return on average common equity (1)		8.56				8.08				7.86				7.75				8.19					8.32				8.03
Annualized cash return on average tangible common equity (2)		13.53				12.47				13.97				12.74				13.21					13.01				12.28
Annualized cash operating return on average tangible common equity (3)		13.99				13.37				12.97				12.74				13.47					13.69				13.28
Net interest rate spread		3.64				3.63				3.72				3.60				3.72					3.64				3.75
Cost of funds (4)		0.27				0.27				0.24				0.23				0.22					0.27				0.22
Efficiency ratio (5)		65.32				63.49				63.95				65.35				64.26					64.44				64.77
Annualized net non-interest expense to average assets (6)		1.35				1.31				1.44				1.36				1.32					1.33				1.36
Core non-interest income to revenues (7)		41.40				39.38				36.91				40.35				40.80					40.42				40.73
Net interest margin		3.60				3.57				3.64				3.52				3.63					3.59				3.68
Tax equivalent effect		0.21				0.22				0.22				0.21				0.21					0.21				0.21
Net interest margin - fully tax equivalent basis (8)		3.81				3.79				3.86				3.73				3.84					3.80				3.89
Loans to deposits		89.17				86.37				85.13				83.43				83.72					89.17				83.72
Asset Quality Ratios:
Non-performing loans (9) to total loans		0.73		%		0.95		%		1.07		%		1.03		%		1.08		%			0.73		%		1.08		%
Non-performing assets (9) to total assets		0.64				0.79				0.87				0.85				0.84					0.64				0.84
Allowance for loan and lease losses to non-performing loans (9)		181.46				142.00				122.43				129.04				122.45					181.46				122.45
Allowance for loan and lease losses to total loans		1.33				1.35				1.31				1.33				1.32					1.33				1.32
Net loan charge-offs (recoveries) to average loans (annualized)		0.09				0.06				0.14				0.06				(0.12		)			0.07				(0.02		)
Capital Ratios:
Tangible equity to tangible assets (10)		9.21		%		9.24		%		8.99		%		9.34		%		9.41		%			9.21		%		9.41		%
Tangible common equity to tangible assets (11)		8.46				8.46				8.21				8.53				8.60					8.46				8.60
Tangible common equity to risk weighted assets (12)		9.75				9.54				9.34				9.69				10.02					9.75				10.02
Total capital (to risk-weighted assets) (13)		12.81				12.65				12.54				12.94				13.07					12.81				13.07
Tier 1 capital (to risk-weighted assets) (13)		11.77				11.60				11.54				11.92				12.06					11.77				12.06
Common equity tier 1 capital (to risk-weighted assets) (13)		9.52				9.33				9.27				9.56				9.66					9.52				9.66
Tier 1 capital (to average assets) (13)		10.41				10.38				10.40				10.43				10.69					10.41				10.69
Per Share Data:
Book value per common share (14)		$	27.68			$	27.26			$	26.77			$	26.40			$	26.14				$	27.68			$	26.14
Less: goodwill and other intangible assets, net of benefit, per common share		10.20				10.22				10.24				9.97				9.78					10.20				9.78
Tangible book value per common share (15)		$	17.48			$	17.04			$	16.53			$	16.43			$	16.36				$	17.48			$	16.36
Cash dividends per common share		$	0.19			$	0.17			$	0.17			$	0.17			$	0.17				$	0.36			$	0.31

⁽¹⁾ Annualized operating return on average assets is computed by dividing annualized operating earnings by average total assets.  Annualized operating return on average common equity is computed by dividing annualized operating earnings by average common equity.  Operating earnings is defined as net income as reported less non-core items, net of tax.
⁽²⁾ Annualized cash return on average tangible equity is computed by dividing net cash flow available to common stockholders (net income available to common stockholders, plus other intangibles amortization expense, net of tax benefit) by average tangible common equity (average common stockholders' equity less average goodwill and average other intangibles, net of tax benefit).
⁽³⁾ Annualized cash operating return on average tangible common equity is computed by dividing annualized cash operating earnings (operating earnings plus other intangibles amortization expense, net of tax benefit, less dividends on preferred shares) by average tangible common equity.  Operating earnings is defined as net income as reported less non-core items, net of tax.
⁽⁴⁾ Equals total interest expense divided by the sum of average interest bearing liabilities and noninterest bearing deposits.
⁽⁵⁾ Equals total non-interest expense excluding non-core items divided by the sum of net interest income on a fully tax equivalent basis, total non-interest income less non-core items, and tax equivalent adjustment on the increase in cash surrender value of life insurance.
⁽⁶⁾ Equals total non-interest expense excluding non-core items less total non-interest income excluding non-core items, and including tax equivalent adjustment on the increase in cash surrender value of life insurance divided by average assets.
⁽⁷⁾ Equals total non-interest income excluding non-core items and tax equivalent adjustment on the increase in cash surrender value of life insurance divided by the sum of net interest income on a fully tax equivalent basis, total non-interest income less non-core items, and tax equivalent adjustment on the increase in cash surrender value of life insurance.
⁽⁸⁾ Represents net interest income on a fully tax equivalent basis assuming a 35% tax rate, as a percentage of average interest earning assets.
⁽⁹⁾ Non-performing loans excludes purchased credit-impaired loans and loans held for sale.  Non-performing assets excludes purchased credit-impaired loans, loans held for sale, and other real estate owned related to FDIC transactions.
⁽¹⁰⁾ Equals total ending stockholders’ equity less goodwill and other intangibles, net of tax benefit, divided by total assets less goodwill and other intangibles, net of tax benefit.
⁽¹¹⁾ Equals total ending common stockholders’ equity less goodwill and other intangibles, net of tax benefit, divided by total assets less goodwill and other intangibles, net of tax benefit.
⁽¹²⁾ Equals total ending common stockholders’ equity less goodwill and other intangibles, net of tax benefit, divided by risk-weighted assets.  Current quarter risk-weighted assets are estimated.
⁽¹³⁾ Current quarter ratios are estimated.
⁽¹⁴⁾ Equals total ending common stockholders’ equity divided by common shares outstanding.
⁽¹⁵⁾ Equals total ending common stockholders’ equity less goodwill and other intangibles, net of tax benefit, divided by common shares outstanding.

NON-GAAP FINANCIAL INFORMATION

This press release contains certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (GAAP).  These measures include operating earnings, core non-interest income, core non-interest income to revenues (with non-core items excluded from both core non-interest income and revenues), core non-interest expense, non-core non-interest income and non-core non-interest expense, net interest income on a fully tax equivalent basis, net interest margin on a fully tax equivalent basis, net interest margin on a fully tax equivalent basis excluding acquisition accounting discount accretion on Taylor Capital loans, efficiency ratio and the ratio of annualized net non-interest expense to average assets with net gains and losses on investment securities, net gains and losses on sale of other assets, and increase (decrease) in market value of assets held in trust for deferred compensation excluded from the non-interest income components of these ratios, and prepayment fees on interest bearing liabilities, branch exit and facilities impairment charges, merger related and repositioning expenses, and increase (decrease) in market value of assets held in trust for deferred compensation excluded from the non-interest expense components of these ratios, with tax equivalent adjustment for tax-exempt interest income and increase in cash surrender value of life insurance, as applicable; ratios of tangible equity to tangible assets, tangible common equity to tangible assets and tangible common equity to risk-weighted assets; tangible book value per common share; annualized operating return on average assets, annualized operating return on average common equity, annualized cash return on average tangible common equity and annualized cash operating return on average tangible common equity.  Our management uses these non-GAAP measures, together with the related GAAP measures, in its analysis of our performance and in making business decisions.  Management also uses these measures for peer comparisons.

Management believes that operating earnings, core and non-core non-interest income and core and non-core non-interest expense are useful in assessing our core operating performance and in understanding the primary drivers of our non-interest income and non-interest expense when comparing periods.

The tax equivalent adjustment to net interest income, net interest margin, tax-exempt interest income and increase in cash surrender value of life insurance recognizes the income tax savings when comparing taxable and tax-exempt assets and assumes a 35% tax rate.  Management believes that it is a standard practice in the banking industry to present net interest income and net interest margin on a fully tax equivalent basis, and accordingly believes that providing these measures may be useful for peer comparison purposes.  For the same reasons, management believes that the tax equivalent adjustments to tax-exempt interest income and increase in cash surrender value of life insurance are useful.

Management also believes that by excluding net gains and losses on investment securities, net gains and losses on sale of other assets and increase (decrease) in market value of assets held in trust for deferred compensation from the non-interest income components, and excluding prepayment fees on interest bearing liabilities, branch exit and facilities impairment charges, merger related and repositioning expenses and increase (decrease) in market value of assets held in trust for deferred compensation from the non-interest expense components, of the efficiency ratio and the ratio of annualized net non-interest expense to average assets, these ratios better reflect our core operating performance, as the excluded items do not pertain to our core business operations and their exclusion makes these ratios more meaningful when comparing our operating results from period to period.

The other measures exclude the acquisition-related goodwill and other intangible assets, net of tax benefit, in determining tangible assets, tangible equity, tangible common equity and average tangible common equity and exclude other intangible amortization expense, net of tax benefit, in determining net cash flow available to common stockholders.  Management believes the presentation of these other financial measures, excluding the impact of such items, provides useful supplemental information that is helpful in understanding our financial results, as they provide a method to assess management’s success in utilizing our tangible capital, as well as our capital strength.  Management also believes that providing measures that exclude balances of acquisition-related goodwill and other intangible assets, which are subjective components of valuation, facilitates the comparison of our performance with the performance of our peers.  In addition, management believes that these are standard financial measures used in the banking industry to evaluate performance.

The non-GAAP disclosures contained herein should not be viewed as substitutes for the results determined to be in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

Reconciliations of net interest margin on a fully tax equivalent basis to net interest margin and net interest margin on a fully tax equivalent basis excluding acquisition accounting discount accretion on Taylor Capital loans to net interest margin are contained in the tables under “Net Interest Margin.”  A reconciliation of tangible book value per common share to book value per common share is contained in the “Selected Financial Ratios” table.  Reconciliations of core and non-core non-interest income and non-interest expense to non-interest income and non-interest expense are contained in the tables under “Results of Operations—Second Quarter Results.”

The following table presents a reconciliation of tangible equity to stockholders' equity (in thousands):

		6/30/2016				3/31/2016				12/31/2015				9/30/2015				6/30/2015
Stockholders' equity - as reported		$	2,156,535			$	2,122,885			$	2,087,284			$	2,063,228			$	2,077,739
Less: goodwill		725,039				725,068				725,070				711,521				711,521
Less: other intangible assets, net of tax benefit		27,020				28,071				29,128				24,388				22,736
Tangible equity		$	1,404,476			$	1,369,746			$	1,333,086			$	1,327,319			$	1,343,482

The following table presents a reconciliation of tangible assets to total assets (in thousands):

		6/30/2016				3/31/2016				12/31/2015				9/30/2015				6/30/2015
Total assets - as reported		$	15,995,790			$	15,575,653			$	15,585,007			$	14,950,101			$	15,018,194
Less: goodwill		725,039				725,068				725,070				711,521				711,521
Less: other intangible assets, net of tax benefit		27,020				28,071				29,128				24,388				22,736
Tangible assets		$	15,243,731			$	14,822,514			$	14,830,809			$	14,214,192			$	14,283,937

The following table presents a reconciliation of tangible common equity to common stockholders' equity (in thousands):

		6/30/2016				3/31/2016				12/31/2015				9/30/2015				6/30/2015
Common stockholders' equity - as reported		$	2,041,255			$	2,007,605			$	1,972,004			$	1,947,948			$	1,962,459
Less: goodwill		725,039				725,068				725,070				711,521				711,521
Less: other intangible assets, net of tax benefit		27,020				28,071				29,128				24,388				22,736
Tangible common equity		$	1,289,196			$	1,254,466			$	1,217,806			$	1,212,039			$	1,228,202

The following table presents a reconciliation of average tangible equity to average common stockholders’ equity (in thousands):

																							Six Months Ended
																							June 30,
		2Q16				1Q16				4Q15				3Q15				2Q15					2016				2015
Average common stockholders' equity - as reported		$	2,014,822			$	1,984,379			$	1,945,772			$	1,958,947			$	1,947,231				$	1,999,601			$	1,934,760
Less: average goodwill		725,011				725,070				711,669				711,521				711,521					725,041				711,521
Less: average other intangible assets, net of tax benefit		27,437				28,511				23,826				23,900				23,092					27,974				23,622
Average tangible common equity		$	1,262,374			$	1,230,798			$	1,210,277			$	1,223,526			$	1,212,618				$	1,246,586			$	1,199,617

The following table presents a reconciliation of net cash flow available to common stockholders to net income available to common stockholders (in thousands):

																							Six Months Ended
																							June 30,
		2Q16				1Q16				4Q15				3Q15				2Q15					2016				2015
Net income available to common stockholders - as reported		$	41,412			$	37,114			$	41,607			$	38,278			$	38,952				$	78,526			$	71,063
Add: other intangible amortization expense, net of tax benefit		1,052				1,057				1,005				1,002				981					2,109				1,968
Net cash flow available to common stockholders		$	42,464			$	38,171			$	42,612			$	39,280			$	39,933				$	80,635			$	73,031

The following table presents a reconciliation of net income to operating earnings (in thousands):

																							Six Months Ended
																							June 30,
		2Q16				1Q16				4Q15				3Q15				2Q15					2016				2015
Net income - as reported		$	43,412			$	39,114			$	43,607			$	40,278			$	40,952				$	82,526			$	75,063
Less non-core items:
Net gain (loss) on investment securities		269				—				(3		)		371				(84		)			269				(544		)
Net (loss) gain on sale of other assets		(2		)		(48		)		—				1				(7		)			(50		)		(3		)
Increase (decrease) in market value of assets held in trust for deferred compensation - other operating income		480				8				565				(872		)		7					488				313
Merger related and repositioning expenses		(2,566		)		(3,287		)		4,186				(389		)		(1,234		)			(5,853		)		(9,303		)
Branch exit and facilities impairment charges		(155		)		—				—				—				—					(155		)		—
Prepayment fees on interest bearing liabilities		—				—				—				—				—					—				(85		)
Increase (decrease) in market value of assets held in trust for deferred compensation - other operating expense		(480		)		(8		)		(565		)		872				(7		)			(488		)		(313		)
Total non-core items		(2,454		)		(3,335		)		4,183				(17		)		(1,325		)			(5,789		)		(9,935		)
Income tax expense on non-core items		(1,003		)		(577		)		1,140				(6		)		(526		)			(1,580		)		(3,943		)
Non-core items, net of tax		(1,451		)		(2,758		)		3,043				(11		)		(799		)			(4,209		)		(5,992		)
Operating earnings		44,863				41,872				40,564				40,289				41,751					86,735				81,055
Dividends on preferred shares		2,000				2,000				2,000				2,000				2,000					4,000				4,000
Operating earnings available to common stockholders		$	42,863			$	39,872			$	38,564			$	38,289			$	39,751				$	82,735			$	77,055
Diluted operating earnings per common share		$	0.58			$	0.54			$	0.52			$	0.51			$	0.53				$	1.12			$	1.02
Weighted average common shares outstanding for diluted operating earnings per common share		74,180,374				73,966,935				73,953,165				75,029,827				75,296,029					74,073,655				75,230,455

Efficiency Ratio Calculation (Dollars in Thousands)

																							Six Months Ended
																							June 30,
		2Q16				1Q16				4Q15				3Q15				2Q15					2016				2015
Non-interest expense		$	147,906			$	135,800			$	127,231			$	134,266			$	132,737				$	283,706			$	272,657
Less merger related and repositioning expenses		2,566				3,287				(4,186		)		389				1,234					5,853				9,303
Less prepayment fees on interest bearing liabilities		—				—				—				—				—					—				85
Less branch exit and facilities impairment charges		155				—				—				—				—					155				—
Less increase (decrease) in market value of assets held in trust for deferred compensation		480				8				565				(872		)		7					488				313
Non-interest expense - as adjusted		$	144,705			$	132,505			$	130,852			$	134,749			$	131,496				$	277,210			$	262,956
Net interest income		$	122,602			$	119,304			$	121,769			$	115,969			$	114,473				$	241,906			$	227,868
Tax equivalent adjustment		7,208				7,195				7,307				7,019				6,676					14,403				12,754
Net interest income on a fully tax equivalent basis		129,810				126,499				129,076				122,988				121,149					256,309				240,622
Plus non-interest income		92,000				81,693				75,625				82,251				82,949					173,693				164,217
Plus tax equivalent adjustment on the increase in cash surrender value of life insurance		458				460				465				459				450					918				902
Less net gain (loss) on investment securities		269				—				(3		)		371				(84		)			269				(544		)
Less net (loss) gain on sale of other assets		(2		)		(48		)		—				1				(7		)			(50		)		(3		)
Less increase (decrease) in market value of assets held in trust for deferred compensation		480				8				565				(872		)		7					488				313
Net interest income plus non- interest income - as adjusted		$	221,521			$	208,692			$	204,604			$	206,198			$	204,632				$	430,213			$	405,975
Efficiency ratio		65.32		%		63.49		%		63.95		%		65.35		%		64.26		%			64.44		%		64.77		%
Efficiency ratio (without adjustments)		68.92		%		67.56		%		64.46		%		67.74		%		67.24		%			68.26		%		69.54		%

Annualized Net Non-interest Expense to Average Assets Calculation (Dollars in Thousands)

																							Six Months Ended
																							June 30,
		2Q16				1Q16				4Q15				3Q15				2Q15					2016				2015
Non-interest expense		$	147,906			$	135,800			$	127,231			$	134,266			$	132,737				$	283,706			$	272,657
Less merger related and repositioning expenses		2,566				3,287				(4,186		)		389				1,234					5,853				9,303
Less prepayment fees on interest bearing liabilities		—				—				—				—				—					—				85
Less branch exit and facilities impairment charges		155				—				—				—				—					155				—
Less increase (decrease) in market value of assets held in trust for deferred compensation		480				8				565				(872		)		7					488				313
Non-interest expense - as adjusted		144,705				132,505				130,852				134,749				131,496					277,210				262,956
Non-interest income		92,000				81,693				75,625				82,251				82,949					173,693				164,217
Less net gain (loss) on investment securities		269				—				(3		)		371				(84		)			269				(544		)
Less net (loss) gain on sale of other assets		(2		)		(48		)		—				1				(7		)			(50		)		(3		)
Less increase (decrease) in market value of assets held in trust for deferred compensation		480				8				565				(872		)		7					488				313
Non-interest income - as adjusted		91,253				81,733				75,063				82,751				83,033					172,986				164,451
Less tax equivalent adjustment on the increase in cash surrender value of life insurance		458				460				465				459				450					918				902
Net non-interest expense		$	52,994			$	50,312			$	55,324			$	51,539			$	48,013				$	103,306			$	97,603
Average assets		$	15,740,658			$	15,487,565			$	15,244,633			$	15,059,429			$	14,631,999				$	15,614,111			$	14,498,364
Annualized net non-interest expense to average assets		1.35		%		1.31		%		1.44		%		1.36		%		1.32		%			1.33		%		1.36		%
Annualized net non-interest expense to average assets (without adjustments)		1.43		%		1.41		%		1.34		%		1.37		%		1.36		%			1.42		%		1.51		%

Core Non-interest Income to Revenues Ratio Calculation (Dollars in Thousands)

																							Six Months Ended
																							June 30,
		2Q16				1Q16				4Q15				3Q15				2Q15					2016				2015
Non-interest income		$	92,000			$	81,693			$	75,625			$	82,251			$	82,949				$	173,693			$	164,217
Plus tax equivalent adjustment on the increase in cash surrender value of life insurance		458				460				465				459				450					918				902
Less net gain (loss) on investment securities		269				—				(3		)		371				(84		)			269				(544		)
Less net (loss) gain on sale of other assets		(2		)		(48		)		—				1				(7		)			(50		)		(3		)
Less increase (decrease) in market value of assets held in trust for deferred compensation		480				8				565				(872		)		7					488				313
Non-interest income - as adjusted		$	91,711			$	82,193			$	75,528			$	83,210			$	83,483				$	173,904			$	165,353
Net interest income		$	122,602			$	119,304			$	121,769			$	115,969			$	114,473				$	241,906			$	227,868
Tax equivalent adjustment		7,208				7,195				7,307				7,019				6,676					14,403				12,754
Net interest income on a fully tax equivalent basis		129,810				126,499				129,076				122,988				121,149					256,309				240,622
Plus non-interest income		92,000				81,693				75,625				82,251				82,949					173,693				164,217
Plus tax equivalent adjustment on the increase in cash surrender value of life insurance		458				460				465				459				450					918				902
Less net gain (loss) on investment securities		269				—				(3		)		371				(84		)			269				(544		)
Less net (loss) gain on sale of other assets		(2		)		(48		)		—				1				(7		)			(50		)		(3		)
Less increase (decrease) in market value of assets held in trust for deferred compensation		480				8				565				(872		)		7					488				313
Total revenue - as adjusted and on a fully tax equivalent basis		$	221,521			$	208,692			$	204,604			$	206,198			$	204,632				$	430,213			$	405,975
Total revenue - unadjusted		$	214,602			$	200,997			$	197,394			$	198,220			$	197,422				$	415,599			$	392,085
Core non-interest income to revenues ratio		41.40		%		39.38		%		36.91		%		40.35		%		40.80		%			40.42		%		40.73		%
Non-interest income to revenues ratio (without adjustments)		42.87		%		40.64		%		38.31		%		41.49		%		42.02		%			41.79		%		41.88		%

NET INTEREST MARGIN

The following table presents, for the periods indicated, the total dollar amount of interest income from average interest earning assets and the resultant yields, as well as the interest expense on average interest bearing liabilities, and the resultant costs, expressed both in dollars and rates (dollars in thousands):

		2Q16											2Q15												1Q16
		Average Balance				Interest				Yield/ Rate			Average Balance				Interest				Yield/ Rate				Average Balance				Interest				Yield/ Rate
Interest Earning Assets:
Loans held for sale		$	727,631			$	6,311			3.47	%		$	781,020			$	6,839			3.50	%			$	661,021			$	5,966			3.61	%
Loans (1) (2) (3):
Commercial-related credits
Commercial		3,522,641				39,002				4.38			3,309,519				34,884				4.17				3,531,441				37,357				4.18
Commercial loans collateralized by assignment of lease payments		1,777,763				16,647				3.75			1,634,583				15,235				3.73				1,754,558				16,577				3.78
Real estate commercial		2,821,516				29,948				4.20			2,522,473				27,145				4.26				2,734,148				28,039				4.06
Real estate construction		351,079				3,436				3.87			191,935				2,388				4.92				276,797				2,902				4.15
Total commercial-related credits		8,472,999				89,033				4.16			7,658,510				79,652				4.11				8,296,944				84,875				4.05
Other loans
Real estate residential		710,384				6,064				3.41			512,766				4,785				3.73				640,231				5,695				3.56
Home equity		202,228				1,969				3.92			233,867				2,301				3.95				210,678				2,033				3.88
Indirect		462,053				5,333				4.64			286,107				3,769				5.28				404,473				4,758				4.73
Consumer loans		78,108				767				3.95			76,189				780				4.11				80,569				794				3.97
Total other loans		1,452,773				14,133				3.91			1,108,929				11,635				4.21				1,335,951				13,280				4.00
Total loans, excluding purchased credit-impaired loans		9,925,772				103,166				4.18			8,767,439				91,287				4.18				9,632,895				98,155				4.10
Purchased credit-impaired loans		136,415				4,972				14.66			202,374				4,117				8.16				139,451				4,780				13.75
Total loans		10,062,187				108,138				4.32			8,969,813				95,404				4.27				9,772,346				102,935				4.24
Taxable investment securities		1,466,915				7,799				2.13			1,545,284				10,002				2.59				1,524,583				9,566				2.51
Investment securities exempt from federal income taxes (3)		1,339,465				16,375				4.89			1,261,567				15,600				4.95				1,362,468				16,579				4.87
Federal funds sold		35				0				1.00			126				0				1.00				42				0				1.00
Other interest earning deposits		100,200				125				0.50			85,935				57				0.27				113,748				141				0.50
Total interest earning assets		$	13,696,433			$	138,748			4.07	%		$	12,643,745			$	127,902			4.06	%			$	13,434,208			$	135,187			4.05	%
Non-interest earning assets		2,044,225											1,988,254												2,053,357
Total assets		$	15,740,658										$	14,631,999											$	15,487,565
Interest Bearing Liabilities:
Core funding:
Money market, NOW and interest bearing deposits		$	3,836,134			$	2,049			0.21	%		$	3,940,201			$	1,634			0.17	%			$	4,109,150			$	2,086			0.20	%
Savings deposits		1,006,902				174				0.07			972,327				135				0.06				984,019				159				0.06
Certificates of deposit		1,237,198				1,474				0.48			1,302,031				1,259				0.39				1,237,971				1,413				0.46
Customer repurchase agreements		162,038				85				0.21			241,942				104				0.17				190,114				94				0.20
Total core funding		6,242,272				3,782				0.24			6,456,501				3,132				0.19				6,521,254				3,752				0.23
Wholesale funding:
Brokered certificates of deposit (includes fee expense)		598,702				2,255				1.51			412,517				1,526				1.48				534,910				1,964				1.48
Other borrowings		1,573,083				2,901				0.73			1,078,297				2,095				0.77				1,327,274				2,972				0.89
Total wholesale funding		2,171,785				5,156				0.95			1,490,814				3,621				0.96				1,862,184				4,936				1.07
Total interest bearing liabilities		$	8,414,057			$	8,938			0.43	%		$	7,947,315			$	6,753			0.34	%			$	8,383,438			$	8,688			0.42	%
Non-interest bearing deposits		4,806,692											4,273,931												4,606,008
Other non-interest bearing liabilities		389,807											348,242												398,460
Stockholders' equity		2,130,102											2,062,511												2,099,659
Total liabilities and stockholders' equity		$	15,740,658										$	14,631,999											$	15,487,565
Net interest income/interest rate spread (4)						$	129,810			3.64	%						$	121,149			3.72	%							$	126,499			3.63	%
Taxable equivalent adjustment						7,208											6,676												7,195
Net interest income, as reported						$	122,602										$	114,473											$	119,304
Net interest margin (5)										3.60	%										3.63	%											3.57	%
Tax equivalent effect										0.21	%										0.21	%											0.22	%
Net interest margin on a fully tax equivalent basis (5)										3.81	%										3.84	%											3.79	%

⁽¹⁾ Non-accrual loans are included in average loans.
⁽²⁾ Interest income includes amortization of deferred loan origination fees and costs.
⁽³⁾ Non-taxable loan and investment income is presented on a fully tax equivalent basis assuming a 35% tax rate.
⁽⁴⁾ Interest rate spread represents the difference between the average yield on interest earning assets and the average cost of interest bearing liabilities and is presented on a fully tax equivalent basis.
⁽⁵⁾ Net interest margin represents net interest income as a percentage of average interest earning assets.

		Six Months Ended June 30,
		2016											2015
		Average Balance				Interest				Yield/ Rate			Average Balance				Interest				Yield/ Rate
Interest Earning Assets:
Loans held for sale		$	694,326			$	12,277			3.54	%		$	719,934			$	12,624			3.51	%
Loans (1) (2) (3):
Commercial-related credits
Commercial		3,527,041				76,359				4.28			3,250,466				67,507				4.13
Commercial loans collateralized by assignment of lease payments		1,766,161				33,224				3.76			1,641,135				30,673				3.74
Real estate commercial		2,777,832				57,987				4.13			2,530,688				54,693				4.30
Real estate construction		313,938				6,338				3.99			191,598				6,469				6.72
Total commercial-related credits		8,384,972				173,908				4.10			7,613,887				159,342				4.16
Other loans
Real estate residential		675,307				11,759				3.48			503,120				9,813				3.90
Home equity		206,453				4,002				3.90			240,167				4,769				4.00
Indirect		433,263				10,091				4.68			276,738				7,254				5.29
Consumer loans		79,339				1,561				3.96			74,292				1,577				4.28
Total other loans		1,394,362				27,413				3.95			1,094,317				23,413				4.31
Total loans, excluding purchased credit-impaired loans		9,779,334				201,321				4.14			8,708,204				182,755				4.23
Purchased credit-impaired loans		137,933				9,752				14.22			221,270				9,054				8.25
Total loans		9,917,267				211,073				4.28			8,929,474				191,809				4.33
Taxable investment securities		1,495,749				17,365				2.32			1,550,876				19,936				2.57
Investment securities exempt from federal income taxes (3)		1,350,967				32,954				4.88			1,194,224				29,621				4.96
Federal funds sold		39				0				1.00			71				0				1.00
Other interest earning deposits		106,974				266				0.50			94,095				119				0.26
Total interest earning assets		$	13,565,322			$	273,935			4.06	%		$	12,488,674			$	254,109			4.10	%
Non-interest earning assets		2,048,789											2,009,690
Total assets		$	15,614,111										$	14,498,364
Interest Bearing Liabilities:
Core funding:
Money market and NOW accounts		$	3,972,642			$	4,135			0.21	%		$	3,938,962			$	3,229			0.17	%
Savings accounts		995,460				333				0.07			962,391				255				0.05
Certificates of deposit		1,237,584				2,887				0.47			1,360,849				2,711				0.40
Customer repurchase agreements		176,076				179				0.20			243,897				223				0.18
Total core funding		6,381,762				7,534				0.24			6,506,099				6,418				0.20
Wholesale funding:
Brokered accounts (includes fee expense)		566,806				4,219				1.50			444,205				3,004				1.36
Other borrowings		1,450,178				5,873				0.80			905,950				4,065				0.89
Total wholesale funding		2,016,984				10,092				1.01			1,350,155				7,069				1.03
Total interest bearing liabilities		$	8,398,746			$	17,626			0.42	%		$	7,856,254			$	13,487			0.35	%
Non-interest bearing deposits		4,706,351											4,237,144
Other non-interest bearing liabilities		394,133											354,926
Stockholders' equity		2,114,881											2,050,040
Total liabilities and stockholders' equity		$	15,614,111										$	14,498,364
Net interest income/interest rate spread (4)						$	256,309			3.64	%						$	240,622			3.75	%
Taxable equivalent adjustment						14,403											12,754
Net interest income, as reported						$	241,906										$	227,868
Net interest margin (5)										3.59	%										3.68	%
Tax equivalent effect										0.21	%										0.21	%
Net interest margin on a fully tax equivalent basis (5)										3.80	%										3.89	%

⁽¹⁾ Non-accrual loans are included in average loans.
⁽²⁾ Interest income includes amortization of deferred loan origination fees and costs.
⁽³⁾ Non-taxable loan and investment income is presented on a fully tax equivalent basis assuming a 35% tax rate.
⁽⁴⁾ Interest rate spread represents the difference between the average yield on interest earning assets and the average cost of interest bearing liabilities and is presented on a fully tax equivalent basis.
⁽⁵⁾ Net interest margin represents net interest income as a percentage of average interest earning assets.

The table below reflects the impact the acquisition accounting loan discount accretion on Taylor Capital loans had on the loan yield and net interest margin on a fully tax equivalent basis for the three months ended June 30, 2016, June 30, 2015 and March 31, 2016 (dollars in thousands):

		2Q16											2Q15											1Q16
		Average Balance				Interest				Yield			Average Balance				Interest				Yield			Average Balance				Interest				Yield
Loan yield excluding acquisition accounting discount accretion on Taylor Capital loans:
Total loans, as reported		$	10,062,187			$	108,138			4.32	%		$	8,969,813			$	95,404			4.27	%		$	9,772,346			$	102,935			4.24	%
Less acquisition accounting discount accretion on non-PCI loans		(27,123		)		5,390							(50,333		)		6,992							(32,293		)		4,950
Less acquisition accounting discount accretion on PCI loans		(23,272		)		2,312							(34,514		)		960							(25,696		)		2,403
Total loans, excluding acquisition accounting discount accretion on Taylor Capital loans		$	10,112,582			$	100,436			3.99	%		$	9,054,660			$	87,452			3.87	%		$	9,830,335			$	95,582			3.91	%
Net interest margin on a fully tax equivalent basis, excluding acquisition accounting discount accretion on Taylor Capital loans:
Total interest earning assets, as reported		$	13,696,433			$	129,810			3.81	%		$	12,643,745			$	121,149			3.84	%		$	13,434,208			$	126,499			3.79	%
Less acquisition accounting discount accretion on non-PCI loans		(27,123		)		5,390							(50,333		)		6,992							(32,293		)		4,950
Less acquisition accounting discount accretion on PCI loans		(23,272		)		2,312							(34,514		)		960							(25,696		)		2,403
Total interest earning assets/net interest margin on a fully tax equivalent basis, excluding acquisition accounting discount accretion on Taylor Capital loans		$	13,746,828			$	122,108			3.57	%		$	12,728,592			$	113,197			3.57	%		$	13,492,197			$	119,146			3.55	%

		Six Months Ended June 30,
		2016											2015
		Average Balance				Interest				Yield			Average Balance				Interest				Yield
Loan yield excluding acquisition accounting discount accretion on Taylor Capital loans:
Total loans, as reported		$	9,917,267			$	211,073			4.28	%		$	8,929,474			$	191,809			4.33	%
Less acquisition accounting discount accretion on non-PCI loans		(29,598		)		10,340							(54,047		)		14,940
Less acquisition accounting discount accretion on PCI loans		(24,535		)		4,715							(34,802		)		1,588
Total loans, excluding acquisition accounting discount accretion on Taylor Capital loans		$	9,971,400			$	196,018			3.95	%		$	9,018,323			$	175,281			3.92	%
Net interest margin on a fully tax equivalent basis, excluding acquisition accounting discount accretion on Taylor Capital loans:
Total interest earning assets, as reported		$	13,565,322			$	256,309			3.80	%		$	12,488,674			$	240,622			3.89	%
Less acquisition accounting discount accretion on non-PCI loans		(29,598		)		10,340							(54,047		)		14,940
Less acquisition accounting discount accretion on PCI loans		(24,535		)		4,715							(34,802		)		1,588
Total interest earning assets/net interest margin on a fully tax equivalent basis, excluding acquisition accounting discount accretion on Taylor Capital loans		$	13,619,455			$	241,254			3.56	%		$	12,577,523			$	224,094			3.59	%

For Information at MB Financial, Inc. contact:
Berry Allen - Investor Relations
E-Mail: beallen@mbfinancial.com

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