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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Loans $ 69,715 $ 64,497 $ 209,633 $ 184,229
Mortgage-backed securities 3,761 4,105 11,748 12,087
Debt securities, equity investments and other 3,411 2,780 10,338 7,980
Total interest income 76,887 71,382 231,719 204,296
Interest expense:        
Deposits 9,817 5,799 28,218 15,510
Borrowed funds 3,678 4,079 10,884 10,125
Total interest expense 13,495 9,878 39,102 25,635
Net interest income 63,392 61,504 192,617 178,661
Provision for loan losses 305 907 1,281 2,984
Net interest income after provision for loan losses 63,087 60,597 191,336 175,677
Other income:        
Bankcard services revenue 2,658 2,425 7,622 6,717
Net gain on sales of loans 0 31 15 654
Net unrealized gain (loss) on equity investments 89 (70) 330 (282)
Net loss from other real estate operations (108) (1,582) (235) (2,975)
Income from Bank Owned Life Insurance 1,431 1,337 4,045 3,813
Other 2,237 836 3,743 1,880
Total other income 11,543 8,285 30,934 26,079
Operating expenses:        
Compensation and employee benefits 21,276 19,694 67,394 64,189
Occupancy 4,159 4,443 13,088 13,582
Equipment 2,062 2,067 5,944 6,004
Marketing 562 1,021 2,629 2,475
Federal deposit insurance and regulatory assessments 297 927 1,931 2,857
Data processing 3,398 3,125 10,736 9,968
Check card processing 1,639 799 4,399 2,904
Professional fees 2,580 1,066 5,697 3,746
Other operating expense 3,902 3,366 11,153 9,928
Amortization of core deposit intangible 1,009 995 3,029 2,828
Branch consolidation expense 1,696 1,368 8,782 2,911
Merger related expenses 777 662 6,761 25,863
Total operating expenses 43,357 39,533 141,543 147,255
Income before provision for income taxes 31,273 29,349 80,727 54,501
Provision for income taxes 6,302 5,278 15,603 9,301
Net income $ 24,971 $ 24,071 $ 65,124 $ 45,200
Basic earnings per share (in dollars per share) $ 0.50 $ 0.50 $ 1.30 $ 0.97
Diluted earnings per share (in dollars per share) $ 0.49 $ 0.50 $ 1.28 $ 0.95
Average basic shares outstanding (in usd per share) 50,491 47,685 50,242 46,451
Average diluted shares outstanding (in usd per share) 50,966 48,572 50,830 47,403
Trust and asset management revenue        
Other income:        
Other income $ 557 $ 573 $ 1,624 $ 1,721
Fees and service charges        
Other income:        
Other income $ 4,679 $ 4,735 $ 13,790 $ 14,551