Superior Bancorp Tops $3 Billion in Assets; Announces Second Quarter 2008 Performance

BIRMINGHAM, Ala., July 28 /PRNewswire-FirstCall/ -- Superior Bancorp (NASDAQ: SUPR) announced today its second quarter 2008 performance. A summary of its results is provided below and in the attached selected financial data.

                                                       As of and for the
                                                        Quarters Ended
    (Dollars in thousands, except               June 30, 2008   June 30, 2007
     per share data)

    Total assets                                  $3,039,558      $2,470,293
    Total loans, net of unearned income            2,148,751       1,719,808
    Total deposits                                 2,194,107       1,884,405
    Stockholders' equity                             348,785         278,953
    Net interest income                               21,388          17,513
    Net income                                           841           1,969
    Net income per common share (1)                     0.08            0.23
    Total branches                                        75              63


    (1) Retroactively restated to reflect 1-for-4 reverse stock split
        effective April 28, 2008.

CEO Stan Bailey stated, "Our second quarter performance is in line with management's expectations given the current volatile environment of our economy, stock market and housing. Superior continues to focus on managing through the current credit cycle, growing our balance sheet with existing and new customers, remaining 'well capitalized' and making money. We have also completed our 20-branch de novo branch expansion program."

Bailey added, "Superior is open for business while many of our competitors are being integrated into Canadian and Spanish banks, or battling with billions of dollars in bad loans. We feel that our markets are recognizing our efforts to continue to serve their needs on a daily basis."

Second Quarter 2008 Performance

Second quarter 2008 net income was $841,000, or $.08 per share, compared to $695,000 for the first quarter of 2008 and $2.0 million for the second quarter of 2007. Second quarter 2008 net income includes the effect of $1.3 million, net of tax, in new branch overhead expense and $564,000, net of tax, in core deposit intangible amortization compared to second quarter 2007 core deposit amortization of $192,000, net of tax. Second quarter 2007 results do not include the effect of Superior Bancorp's acquisition of People's Community Bancshares, Inc., which was completed on July 27, 2007.

Superior Bancorp's second quarter 2008 net interest income increased to $21.4 million, or 16% from $18.5 million for the first quarter of 2008 and 22% from $17.5 million for the second quarter of 2007. Net interest margin increased to 3.39% compared to 3.04% for the first quarter of 2008.

Superior Bancorp's second quarter 2008 core noninterest income increased to $5.4 million, or 6% from $5.1 million in the first quarter of 2008. This increase is primarily attributable to increases in customer service charges and brokerage commissions due in large part to an increased customer base resulting from our acquisitions and branch expansion. Core noninterest income excludes certain items such as investment security gains and losses and gains on extinguishment of approximately $5.7 million in liabilities related to deferred compensation and benefits. A reconciliation of core noninterest income is included in the attached selected financial data.

Superior Bancorp's second quarter of 2008 core noninterest expense increased to $22.2 million, or 4% from $21.1 million in the first quarter of 2008. This increase is primarily attributable to increases in advertising and marketing expenses and FDIC insurance assessments. Advertising and marketing expenses increased in certain markets affected by recent bank merger activities in an effort to take advantage of customer dislocation. These costs are expected to continue into the third quarter of 2008. Core noninterest expense excludes certain items such as amortization of core deposit intangibles. A reconciliation of core noninterest expense is included in the attached selected financial data.

Balance Sheet Growth

Superior Bancorp's total deposits at June 30, 2008 remained level at $2.2 billion from March 31, 2008 and December 31, 2007. Total deposits increased 16% from June 30, 2007. The acquisition of People's Community Bancshares, Inc. accounted for approximately 13% of the 16% deposit growth since June 30, 2007. As of June 30, 2008 Superior Bancorp's de novo branches accounted for approximately $223 million of core deposits, predominantly from new customer relationships. Customer dislocation resulting from recent merger activities in Superior's markets also contributed to the deposit performance.

Loans increased to $2.2 billion at June 30, 2008, an increase of 6.5% from December 31, 2007 and 24.9% from June 30, 2007. Loan growth occurred across all of Superior's Alabama and Florida markets, with primary expansion occurring in the commercial, mortgage and commercial real estate sectors of our loan portfolio. In addition, Superior Bank purchased a pool of residential mortgage loans with a balance of approximately $52 million during the second quarter of 2008.

Credit Quality Management

With regard to credit quality at June 30, 2008, non-performing loans ("NPLs") were 1.83% of total loans compared to 1.49% at March 31, 2008 and 1.26% at December 31, 2007, which is in line with management's expectations. The $8.4 million NPL increase during the second quarter of 2008 was predominantly located in Florida and includes real estate relationships primarily secured by residential properties in various stages of development.

Other Real Estate Owned ("OREO") increased $5.8 million during the second quarter of 2008 to $12.6 million. The increase in OREO is composed primarily of properties in Alabama consisting of single-family homes and residential lots. Of total OREO, $10.3 million is located in Alabama and $2.3 is in Florida.

Overall past due loans increased during the second quarter with the 90 days past due (DPD) and still accruing category moving to 0.09% at June 30, 2008 from 0.00% and 0.10% as a percentage of total loans at March 31, 2008 and December 31, 2007, respectively. Loans in the 30-89 DPD category increased to 2.05% from 1.25% and 1.13% as a percentage of total loans at March 31, 2008 and December 31, 2007, respectively.

Net loan charge-offs as a percentage of average loans were 0.38% during the second quarter of 2008, compared to 0.29% and 0.33% during the first quarter of 2008 and fourth quarter of 2007, respectively. Of the $2.0 million net charge-offs in the second quarter of 2008, Superior Bank's charge-offs were $1.5 million or 0.28% of average loans and the consumer finance company charge-offs were $490,000 or 0.10% of average loans. Of Superior Bank's charge-offs, 56% related to 1-4 family mortgages and 42% related to real estate construction.

The provision for loan losses was $6.0 million in the second quarter of 2008, increasing the allowance for loan losses to 1.27% of net loans, or $27.2 million, at June 30, 2008, compared to 1.13% of net loans, or $23.3 million at March 31, 2008. Superior's management believes the allowance for loan losses at June 30, 2008 appropriately reflects management's best estimate of potential losses in the loan portfolio. Management's assessment of Superior's credit quality is based on various internal and external factors that affect the collectability of loans.

De Novo Branching Program Completed

In furtherance of Superior's de novo branch strategy, the company has opened all of the 20 planned new branches since September 2006 in key Alabama and Florida markets, representing approximately $223 million of core deposits as of June 30, 2008. For the second quarter of 2008, after-tax overhead expense associated with the new branches was $1.3 million, representing an approximately 2% annualized premium on deposits. Superior Bancorp has invested approximately $25 to $30 million toward its de novo branch expansion program.

Well Capitalized and Liquid

Superior Bank continues to be categorized as "well capitalized" under regulatory guidelines with a total risk-based capital ratio of 10.22% as of June 30, 2008. Other key equity ratios of Superior Bank at June 30, 2008 were total equity to total assets of 13.08% and tangible equity to tangible assets of 7.40%.

Short-term liquid assets (cash and due from banks, interest-bearing deposits in other banks and federal funds sold) increased $16.0 million, or 25.2%, to $79.3 million at June 30, 2008 from $63.3 million at December 31, 2007. At June 30, 2008, short-term liquid assets comprised 2.6% of total assets, compared to 2.2% at December 31, 2007. Management continually monitors Superior Bank's liquidity position and will increase or decrease short-term liquid assets as necessary. Superior Bank's principal sources of funds are deposits, principal and interest payments on loans, federal funds sold and maturities and sales of investment securities. In addition to these sources of liquidity, Superior Bank has access to a minimum of $250 million in additional funding from traditional sources. Management believes it has established sufficient sources of funds to meet its anticipated liquidity needs.

Outlook

The entire banking industry is operating in an adverse environment relative to maximizing short-term performance. Factors such as the challenging credit cycle, housing softness, gloomy media coverage, weakened consumer confidence and dramatic Federal Reserve rate reductions are causing a stiff headwind in 2008. At Superior, management continues to adapt to these factors while remaining focused on taking the actions that management believes will ultimately result in enhanced shareholder value.

About Superior Bancorp

Superior Bancorp is a $3.0 billion thrift holding company headquartered in Birmingham, Alabama. The principal subsidiary of Superior Bancorp is Superior Bank, a Southeastern community bank and the third largest U.S. owned bank headquartered in Alabama. Superior Bank has 75 branches with 44 locations throughout the state of Alabama and 31 locations in Florida. Superior Bank currently has two new branches planned for Alabama and one for Florida during the remainder of 2008 in addition to those that have opened since September 2006.

Superior Bank operates 22 consumer finance offices in North Alabama as 1st Community Credit and Superior Financial Services.

This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles ("GAAP"). Superior's management uses these "non-GAAP" measures in its analysis of Superior's performance. Non-GAAP measures typically adjust GAAP performance measures to exclude the effects of charges, expenses and gains related to the consummation of mergers and acquisitions, and costs related to the integration of merged entities. These non-GAAP measures may also exclude other significant gains, losses or expenses that are unusual in nature and not expected to recur. Since these items and their impact on Superior's performance are difficult to predict, management believes presentations of financial measures excluding the impact of these items provide useful supplemental information that is important for a proper understanding of the operating results of Superior's core business. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that are presented by other companies.

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by us or on our behalf. Some of the disclosures in this release, including any statements preceded by, followed by or which include the words "may," "could," "should," "will," "would," "hope," "might," "believe," "expect," "anticipate," "estimate," "intend," "plan," "assume" or similar expressions constitute forward-looking statements. These forward-looking statements, implicitly and explicitly, include the assumptions underlying the statements and other information with respect to our beliefs, plans, objectives, goals, expectations, anticipations, estimates, intentions, financial condition, results of operations, future performance and business, including our expectations and estimates with respect to our revenues, expenses, earnings, return on equity, return on assets, efficiency ratio, asset quality, the adequacy of our allowance for loan losses and other financial data and capital and performance ratios. Although we believe that the expectations reflected in our forward-looking statements are reasonable, these statements involve risks and uncertainties which are subject to change based on various important factors (some of which are beyond our control). Such forward looking statements should, therefore, be considered in light of various important factors set forth from time to time in our reports and registration statements filed with the SEC. The following factors, among others, could cause our financial performance to differ materially from our goals, plans, objectives, intentions, expectations and other forward-looking statements: (1) the strength of the United States economy in general and the strength of the regional and local economies in which we conduct operations; (2) the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; (3) inflation, interest rate, market and monetary fluctuations; (4) our ability to successfully integrate the assets, liabilities, customers, systems and management we acquire or merge into our operations; (5) our timely development of new products and services in a changing environment, including the features, pricing and quality compared to the products and services of our competitors; (6) the willingness of users to substitute competitors' products and services for our products and services; (7) the impact of changes in financial services policies, laws and regulations, including laws, regulations and policies concerning taxes, banking, securities and insurance, and the application thereof by regulatory bodies; (8) our ability to resolve any legal proceeding on acceptable terms and its effect on our financial condition or results of operations; (9) technological changes; (10) changes in consumer spending and savings habits; (11) the effect of natural disasters, such as hurricanes, in our geographic markets; and (12) regulatory, legal or judicial proceedings.

Superior Bancorp disclaims any intent or obligation to update forward- looking statements.

    More information on Superior Bancorp and its subsidiaries may be obtained
over the Internet, http://www.superiorbank.com, or by calling 1-877-326-BANK
(2265).



                      Superior Bancorp and Subsidiaries
           Condensed Consolidated Statements of Financial Condition
                            (Dollars In Thousands)


                                                   June 30,       December 31,
                                               2008        2007        2007
                                           (Unaudited) (Unaudited)
      Assets
      Cash and due from banks                 $71,959     $49,664     $52,983
      Interest bearing deposits in other
       banks                                    4,010       4,718       6,916
      Federal funds sold                        3,366      12,843       3,452
      Investment securities available for
       sale                                   356,408     322,739     361,171
      Tax lien certificates                    25,032      18,457      15,615
      Mortgage loans held for sale             29,097      23,213      33,408
      Loans, net of unearned income         2,148,751   1,719,808   2,017,011
      Less: Allowance for loan losses         (27,243)    (19,147)    (22,868)
              Net loans                     2,121,508   1,700,661   1,994,143
      Premises and equipment, net             103,565      89,620     104,799
      Accrued interest receivable              15,857      14,405      16,512
      Stock in FHLB                            23,412      12,798      14,945
      Cash surrender value of life
       insurance                               47,290      41,273      45,277
      Goodwill and other intangibles          185,442     128,976     187,520
      Other assets                             52,612      50,926      48,684

              Total assets                 $3,039,558  $2,470,293  $2,885,425

      Liabilities and Stockholders' Equity
      Deposits
         Noninterest-bearing                 $221,087    $182,807    $207,602
         Interest-bearing                   1,973,020   1,701,998   1,993,009
             Total deposits                 2,194,107   1,884,805   2,200,611

      Advances from FHLB                      405,830     187,840     222,828
      Federal funds borrowed and security
       repurchase agreements                    7,218      20,586      17,075
      Notes payable                             9,500       5,958       9,500
      Junior subordinated debentures owed
       to unconsolidated subsidiary trusts     53,571      43,770      53,744
      Accrued expenses and other
       liabilities                             20,547      48,381      31,625
              Total liabilities             2,690,773   2,191,340   2,535,383


      Stockholders' Equity
         Common stock, par value $.001 per
          share; authorized 15,000,000
          shares; shares issued 10,382,410,
          8,688,146, and 10,380,658
          respectively; outstanding
          10,055,879, 8,667,727, and
          10,027,079, respectively                 10           9          10
         Surplus                              329,170     254,233     329,232
         Retained earnings                     35,094      30,205      33,557
         Accumulated other comprehensive
          (loss) gain                          (3,138)     (2,876)        174
         Treasury stock, at cost              (11,364)       (716)    (12,309)
         Unearned ESOP stock                     (531)     (1,902)       (622)
         Unearned restricted stock               (456)          -           -
              Total stockholders' equity      348,785     278,953     350,042

              Total liabilities and
               stockholders' equity        $3,039,558  $2,470,293  $2,885,425



                      Superior Bancorp and Subsidiaries
                 Condensed Consolidated Statements of  Income
                (Amounts In Thousands, Except Per Share Data)


                                      Three              Six            Year
                                  Months Ended      Months Ended       Ended
                                     June 30,          June 30,       Dec. 31,
                                  2008     2007     2008     2007       2007
                                   (Unaudited)       (Unaudited)
    Interest income
    Interest and fees on loans   $36,708  $34,986  $74,053  $69,297  $150,443
    Interest on investment
     securities:
      Taxable                      4,143    4,096    8,195    8,535    17,174
      Exempt from Federal income
       tax                           431      138      861      266       897
    Interest on federal funds
     sold                             18      156       98      283       471
    Interest and dividends on
     other investments               732      691    1,376    1,429     2,944

       Total interest income      42,032   40,067   84,583   79,810   171,929

    Interest expense
    Interest on deposits          16,709   18,780   36,962   36,249    79,667
    Interest on FHLB advances
     and other borrowings          3,016    2,770    5,808    6,019    12,971
    Subordinated debentures          919    1,004    1,934    1,996     4,129

      Total interest expense      20,644   22,554   44,704   44,264    96,767

            Net interest income   21,388   17,513   39,879   35,546    75,162

    Provision for loan losses      5,967    1,000    7,838    1,705     4,541

         Net interest income
          after provision for
          loan losses             15,421   16,513   32,041   33,841    70,621

    Noninterest income
    Service charges and fees on
     deposits                      2,192    1,894    4,296    3,684     7,957
    Mortgage banking income        1,031    1,132    2,297    2,082     3,860
    Investment securities gains    1,068        -    1,470      242       308
    Change in fair value of
     derivatives                    (418)     118      632      (34)    1,310
    Increase in cash surrender
     value of life insurance         555      452    1,107      900     1,895
    Gain on extinguishment of
     liabilities                   2,918        -    2,918        -         -
    Other income                   1,660      942    2,888    1,750     4,027

        Total noninterest income   9,006    4,538   15,608    8,624    19,357

    Noninterest expenses
    Salaries and employee
     benefits                     12,058   10,168   24,199   20,236    42,316
    Occupancy, furniture and
     equipment expense             4,120    2,995    8,180    6,142    13,391
    Amortization of core deposit
     intangibles                     896      304    1,792      609     1,691
    Loss on extinguishment of
     debt                              -        -        -        -     1,469
    Merger related costs              13      107      121      426       639
    Loss on termination of ESOP        -        -        -        -       158
    Other operating expenses       6,189    4,484   11,248    8,670    18,559

        Total noninterest
         expenses                 23,276   18,058   45,540   36,083    78,223

            Income before
             income taxes          1,151    2,993    2,109    6,382    11,755

    Income tax expense               310    1,024      572    2,116     4,134

            Net income              $841   $1,969   $1,537   $4,266    $7,621

    Basic net income per
     common share                  $0.08    $0.23    $0.15    $0.50     $0.82
    Diluted net income per
     common share                  $0.08    $0.23    $0.15    $0.49     $0.82

    Weighted average common
     shares outstanding           10,016    8,613   10,014    8,611     9,244
    Weighted average common
     shares outstanding,
     assuming dilution            10,056    8,735   10,051    8,747     9,333



                      SUPERIOR BANCORP AND SUBSIDIARIES
                UNAUDITED SUMMARY CONSOLIDATED FINANCIAL DATA
                (Dollars in thousands, except per share data)

                             As of and             As of and       As of and
                              for the               for the         for the
                         Three-Months Ended    Six Months Ended    Year Ended
                              June 30,              June 30,      December 31,
                           2008       2007       2008       2007      2007
    Selected Average
     Balances:
    Total assets       $2,991,342 $2,430,830 $2,944,466 $2,426,798 $2,620,962
    Total Liabilities   2,639,589  2,152,136  2,592,914  2,149,235  2,312,690
    Loans, net of
     unearned income    2,123,039  1,663,551  2,077,884  1,655,747  1,814,032
    Mortgage loans
     held for sale         31,038     29,790     34,310     24,692     24,997
    Investment
     securities           354,710    331,022    350,939    341,846    350,561
    Total interest-
     earning assets     2,562,105  2,081,725  2,517,397  2,079,455  2,246,177
    Noninterest-
     bearing deposits     219,647    179,366    218,196    179,465    191,066
    Interest-bearing
     deposits           1,982,589  1,680,570  1,982,785  1,665,005  1,790,719
    Advances from FHLB    340,655    188,104    293,451    197,923    221,831
    Federal funds
     borrowed and
     security repurchase
     agreements             8,187     13,732      8,288     18,830     17,061
    Junior subordinated
     debentures owed to
     unconsolidated
     subsidiary trusts     53,613     43,826     53,660     43,881     48,557
    Total interest-
     bearing
     liabilities        2,398,240  1,935,989  2,351,397  1,935,202  2,088,719
    Stockholders'
     equity               351,754    278,695    351,552    277,563    308,272

    Per Share Data (8):
    Net income - basic      $0.08      $0.23      $0.15      $0.50      $0.82
               - diluted    $0.08      $0.23      $0.15      $0.49      $0.82
    Weighted average
     common shares
     outstanding - basic   10,016      8,613     10,014      8,611      9,244
    Weighted average
     common shares
     outstanding -
     diluted               10,056      8,735     10,051      8,747      9,333
    Common book value
     per share at
     period end            $34.68     $32.18     $34.68     $32.18     $34.91
    Tangible common book
     value per share at
     period end            $16.24     $17.30     $16.24     $17.30     $16.21
    Common shares
     outstanding at
     period end            10,056      8,668     10,056      8,668     10,027

    Performance Ratios
     and Other Data:
    Return on average
     assets(1)              0.11%      0.32%      0.10%      0.35%      0.29%
    Return on average
     tangible assets(1)      0.12       0.34       0.11       0.37       0.31
    Return on average
     stockholders'
     equity(1)               0.96       2.83       0.88       3.10       2.47
    Return on average
     tangible equity(1)      2.04       5.26       1.87       5.79       4.91
    Net interest margin
     (1)(2)(3)               3.39       3.39       3.21       3.46       3.37
    Net interest spread
     (1)(3)(4)               3.17       3.06       2.96       3.14       3.04
    Noninterest income
     to average assets
     (1)(5)                  0.72       0.73       0.72       0.69       0.67
    Noninterest expense
     to average assets
     (1)(6)                  2.98       2.91       2.96       2.91       2.83
    Efficiency ratio (7)    82.12      80.23      85.32      79.50      79.48
    Average loan to
     average deposit
     ratio                  97.81      91.04      95.97      91.11      92.80
    Average interest-
     earning assets
     to average interest
     bearing liabilities   106.83     107.53     107.06     107.45     107.54
    Intangible assets
     - goodwill          $162,390   $114,526   $162,390   $114,526   $162,466
     - core deposit
       intangible
       ("CDI") and other
       intangibles         23,052     14,450     23,052     14,450     25,054

    Assets Quality
     Ratios:
    Nonaccrual loans     $37,111     $11,020    $37,111    $11,020    $22,533
    Accruing loans 90
     days or more
     delinquent            1,859         397      1,859        397      2,117
    Restructured loans       326         501        326        501        671
    Other real estate
     owned and
     repossessed assets   12,588       1,125     12,588      1,125      4,415
    Net loan charge-offs   1,996         830      3,463      1,450      4,282
    Allowance for loan
     losses to
     nonperforming loans  69.33%     160.64%     69.33%    160.64%     90.31%
    Allowance for loan
     losses to loans,
     net of unearned
     income                 1.27        1.11       1.27       1.11       1.13
    Nonperforming assets
     ("NPA") to loans
     plus NPAs, net of
     unearned income        2.40        0.76       2.40       0.76       1.47
    NPAs to total assets    1.71        0.53       1.71       0.53       1.03
    Net loan charge-offs
     to average loans(1)    0.38        0.20       0.34       0.17       0.24
    Net loan charge-offs
     as a percentage of:
       Provision for
        loan losses         33.46      83.00      44.18      85.04      94.30
       Allowance for
        loan losses(1)      29.39      17.39      25.49      15.27      18.72


    (1) Annualized for the three-month periods ended June 30, 2008 and 2007.
    (2) Net interest income divided by average earning assets.
    (3) Calculated on a taxable equivalent basis.
    (4) Yield on average interest-earning assets less rate on average
        interest-bearing liabilities.
    (5) Noninterest income has been adjusted for changes in fair value of
        derivatives, investment security gains(losses), and gain on
        extinguishment of liabilities.
    (6) Noninterest expense has been adjusted for CDI amortization,
        extinguishment of debt, termination of ESOP, merger related costs,
        management separation costs, losses on other real estate and the loss
        on sale of assets.
    (7) Efficiency ratio is calculated by dividing noninterest expense,
        adjusted for CDI amortization,  merger related costs, extinguishment
        of debt, termination of ESOP, losses on other real estate and the loss
        on sale of assets, by noninterest income, adjusted for  changes in
        fair values of derivatives, investment security gains (losses), plus
        net interest income on a fully tax equivalent basis, and gain on
        extinguishment of liabilities.
    (8) Per share data has been retroactively restated to reflect 1-for-4
        reverse stock split effective April 28, 2008.



                      SUPERIOR BANCORP AND SUBSIDIARIES
                UNAUDITED SUMMARY CONSOLIDATED FINANCIAL DATA
                            (Dollars in Thousands)


                                        For the Three-Month         Percent
                                            Periods Ended           Increase
                                   June 30,2008   March 31, 2008   (Decrease)

    Core noninterest income
     (non-GAAP)                         $5,438           $5,149      5.61%
    Investment securities gains          1,068              402    165.67%
    Change in fair value of
     derivatives                          (418)           1,050   (139.81%)
    Gain on extinguishment of
     liabilities                         2,918                -      0.00%

      Total noninterest income
       (GAAP)                           $9,006           $6,601     36.43%

    Core noninterest expense
     (non-GAAP)                        $22,156          $21,249      4.27%
    Amortization of core
     deposit intangibles                   896              896      0.00%
    Merger related costs                    13              107    (87.85%)
    Loss on foreclosed assets              211               11   1818.18%

      Total noninterest expense
       (GAAP)                          $23,276          $22,263      4.55%


                                                   As of
                                       June 30,     June 30,    Dec. 31,
                                         2008         2007        2007
    Total stockholders' equity
     (GAAP)                           $348,785     $278,953     $350,042
      Intangible assets (GAAP)         185,442      128,976      187,520
    Total tangible equity (non-
     GAAP)                            $163,343     $149,977     $162,522