ALLIANCE FINANCIAL CORPORATION |

	2009 Y	2010 Y	2011 Y	2012 Y
Source Document	12/31/2011	12/31/2012	12/31/2012	12/31/2012
Currency Code	USD	USD	USD	USD
(in thousands)

Interest income
Interest and fees on loans and leases	49,832	46,168	41,877	38,772
Federal funds sold and interest bearing deposits	15	8	22	136
Interest and dividends on taxable securities	10,701	11,294	10,903	6,709
Interest and dividends on nontaxable securities	3,414	2,872	2,957	2,634
Total interest income	63,962	60,342	55,759	48,251
Interest expense
Deposits
Savings accounts	454	377	210	123
Money market accounts	3,347	2,675	1,609	1,038
Time accounts	9,622	7,216	5,673	3,564
NOW accounts	531	490	225	127
Total deposits	13,954	10,758	7,717	4,852
Borrowings
Repurchase agreements	955	833	825	831
FHLB advances	4,864	3,817	3,279	2,445
Junior subordinated obligations issued to unconsolidated subsidiary trusts	808	645	638	677
Total interest expense	20,581	16,053	12,459	8,805
Net interest income	43,381	44,289	43,300	39,446
Provision for credit losses	6,100	4,085	1,910	(300)
Net interest income after provision for credit losses	37,281	40,204	41,390	39,746
Non-interest income
Investment management income	7,134	7,316	7,746	7,603
Service charges on deposit accounts	5,037	4,509	4,463	4,277
Card-related fees	2,248	2,563	2,701	2,772
Insurance agency income	1,387	1,283	0	0
Income from bank-owned life insurance	1,014	1,058	1,018	1,258
Gain on the sale of loans	748	1,394	1,283	1,809
Gain on sale of securities available-for-sale	2,168	308	1,325	0
Other non-interest income	1,075	2,074	1,466	1,132
Total non-interest income	20,811	20,505	20,002	18,851
Non-interest expense
Salaries and employee benefits	20,428	22,319	21,902	23,631
Occupancy and equipment expense	7,047	7,375	7,283	7,066
Communication expense	756	664	599	623
Office supplies and postage expense	1,337	1,158	1,142	1,182
Marketing expense	932	1,068	898	772
Amortization of intangible assets	1,453	1,127	944	867
Professional fees	2,893	3,250	3,087	5,372
FDIC insurance premium	2,284	1,601	1,061	866
Other non-interest expense	6,078	5,918	6,665	6,063
Total non-interest expense	43,208	44,480	43,581	46,442
Income before income tax expense	14,884	16,229	17,811	12,155
Income tax expense	3,436	4,605	4,514	2,967
Net income	11,448	11,624	13,297	9,188
Dividends and accretion of discount on preferred stock	1,084	NA	NA	NA
Net income per share
Basic earnings per share	2.25	2.49	2.8	1.92
Diluted earnings per share	2.24	2.48	2.8	1.92
Cash dividends declared per share	NA	1.16	1.22	1.26
Consolidated Statements of Comprehensive Income
Net income	10,364	11,624	13,297	9,188
Other comprehensive income net of tax
Securities available-for-sale
Net unrealized (losses) gains for the period on securities available-for-sale	NA	1,051	4,025	(515)
Reclassification adjustment for security gains included in net income	NA	(189)	(812)	0
Total	NA	862	3,213	(515)
Defined benefit pension plan
Amortization of prior service costs and net loss	NA	126	122	217
Change in accumulated unrealized net losses for plan benefits	NA	(221)	(1,097)	(274)
Change in unrealized prior service costs	NA	0	0	39
Total	NA	(95)	(975)	(18)
Total other comprehensive (loss) income	NA	767	2,238	(533)
Comprehensive income	NA	12,391	15,535	8,655

Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.


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