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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income:        
Loans $ 70,917 $ 63,135 $ 139,918 $ 119,732
Mortgage-backed securities 3,946 4,297 7,987 7,982
Debt securities, equity investments and other 3,547 2,646 6,927 5,200
Total interest income 78,410 70,078 154,832 132,914
Interest expense:        
Deposits 9,762 5,247 18,401 9,711
Borrowed funds 3,811 3,384 7,206 6,046
Total interest expense 13,573 8,631 25,607 15,757
Net interest income 64,837 61,447 129,225 117,157
Provision for loan losses 356 706 976 2,077
Net interest income after provision for loan losses 64,481 60,741 128,249 115,080
Other income:        
Bankcard services revenue 2,679 2,373 4,964 4,292
Net gain on sales of loans 7 6 15 623
Net unrealized gain (loss) on equity investments 133 (71) 241 (212)
Net loss from other real estate operations (121) (981) (127) (1,393)
Income from Bank Owned Life Insurance 1,293 1,335 2,614 2,476
Other 724 486 1,506 1,044
Total other income 9,879 8,883 19,391 17,794
Operating expenses:        
Compensation and employee benefits 23,704 23,244 46,118 44,495
Occupancy 4,399 4,572 8,929 9,139
Equipment 1,936 2,034 3,882 3,937
Marketing 1,137 893 2,067 1,454
Federal deposit insurance 802 1,000 1,634 1,930
Data processing 3,684 3,667 7,338 6,843
Check card processing 1,322 1,116 2,760 2,105
Professional fees 1,408 1,397 3,117 2,680
Other operating expense 3,882 3,546 7,251 6,561
Amortization of core deposit intangible 1,015 1,001 2,020 1,834
Branch consolidation expense 6,695 1,719 7,086 1,544
Merger related expenses 931 6,715 5,984 25,200
Total operating expenses 50,915 50,904 98,186 107,722
Income before provision for income taxes 23,445 18,720 49,454 25,152
Provision for income taxes 4,465 3,018 9,301 4,023
Net income $ 18,980 $ 15,702 $ 40,153 $ 21,129
Basic earnings per share (in dollars per share) $ 0.37 $ 0.33 $ 0.80 $ 0.46
Diluted earnings per share (in dollars per share) $ 0.37 $ 0.32 $ 0.79 $ 0.45
Average basic shares outstanding (in usd per share) 50,687 47,718 50,115 45,805
Average diluted shares outstanding (in usd per share) 51,290 48,704 50,728 46,786
Trust and asset management revenue        
Other income:        
Other income $ 569 $ 595 $ 1,067 $ 1,148
Fees and service charges        
Other income:        
Other income $ 4,595 $ 5,140 $ 9,111 $ 9,816