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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
INTEREST INCOME      
Loans $ 113,265 $ 119,353 $ 121,476
Investment securities and other interest-earning assets 10,524 10,493 9,767
Total interest income 123,789 129,846 131,243
INTEREST EXPENSE      
Deposits 10,487 13,144 13,284
FHLB advances and other borrowings 1,081 730 4,802
Subordinated debentures 3,046 3,053 1,751
Total interest expense 14,614 16,927 19,837
Net interest income before provision for credit losses 109,175 112,919 111,406
Provision for credit losses 25,454 2,297 1,526
Net interest income after provision for credit losses 83,721 110,622 109,880
NONINTEREST INCOME      
Loan servicing fees 480 487 398
Earnings on bank-owned life insurance 1,336 864 910
Net gain from sales of loans 771 1,698 1,729
Net gain from sales of investment securities 7,760 3,671 427
Other income 1,754 797 1,460
Total noninterest income 14,475 9,801 7,681
NONINTEREST EXPENSE      
Compensation and benefits 34,376 36,409 33,388
Premises and occupancy 8,168 8,113 7,535
Data processing 3,253 3,241 2,930
Other real estate owned operations, net 14 31 3
FDIC insurance premiums 367 (766) 800
Legal, audit and professional expense 3,126 3,268 2,998
Marketing expense 1,412 1,713 1,497
Office, telecommunications and postage expense 1,103 1,105 1,210
Loan expense 822 1,064 873
Deposit expense 4,988 4,537 3,583
Merger-related expense 1,724 0 655
Core deposit intangible (“CDI”) amortization 3,965 4,247 4,436
Other expense 3,313 3,254 3,669
Total noninterest expense 66,631 66,216 63,577
Net income before income taxes 31,565 54,207 53,984
Income tax 5,825 13,109 15,266
Net income $ 25,740 $ 41,098 $ 38,718
EARNINGS PER SHARE      
Basic (in dollars per share) $ 0.43 $ 0.69 $ 0.62
Diluted (in dollars per share) $ 0.43 $ 0.69 $ 0.62
WEIGHTED AVERAGE SHARES OUTSTANDING      
Basic (in shares) 59,007,191 58,816,352 61,987,605
Diluted (in shares) 59,189,717 59,182,054 62,285,783
Service charges on deposit accounts      
NONINTEREST INCOME      
Noninterest income $ 1,715 $ 1,558 $ 1,330
Other service fee income      
NONINTEREST INCOME      
Noninterest income 311 359 356
Debit card interchange fee income      
NONINTEREST INCOME      
Noninterest income $ 348 $ 367 $ 1,071