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Quarterly Results of Operations (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Data [Abstract]  
Schedule of quarterly results of operations (unaudited)

The following table reports quarterly results of operations (unaudited) for 2017, 2016 and 2015:

 

 

 

2017

 

(dollars in thousands except per share data)

 

Fourth Quarter

 

Third Quarter

 

Second Quarter

 

First Quarter

 

Total interest income

 

$

86,526

 

$

82,370

 

$

79,344

 

$

75,794

 

Total interest expense

 

11,167

 

10,434

 

9,646

 

8,900

 

Net interest income

 

75,359

 

71,936

 

69,698

 

66,894

 

Provision for credit losses

 

4,087

 

1,921

 

1,566

 

1,397

 

Net interest income after provision for credit losses

 

71,272

 

70,015

 

68,132

 

65,497

 

Noninterest income

 

9,496

 

6,784

 

7,023

 

6,070

 

Noninterest expense

 

29,803

 

29,516

 

30,001

 

29,232

 

Income before income tax expense

 

50,965

 

47,283

 

45,154

 

42,335

 

Income tax expense

 

35,396

 

17,409

 

17,382

 

15,318

 

Net income

 

15,569

 

29,874

 

27,772

 

27,017

 

Net income available to common shareholders

 

$

15,569

 

$

29,874

 

$

27,772

 

$

27,017

 

Earnings per common share

 

 

 

 

 

 

 

 

 

Basic (1)

 

$

0.46

 

$

0.87

 

$

0.81

 

$

0.79

 

Diluted (1)

 

$

0.45

 

$

0.87

 

$

0.81

 

$

0.79

 

 

 

 

2016

 

(dollars in thousands except per share data)

 

Fourth Quarter

 

Third Quarter

 

Second Quarter

 

First Quarter

 

Total interest income

 

$

75,795

 

$

72,431

 

$

69,772

 

$

67,807

 

Total interest expense

 

8,771

 

7,703

 

5,950

 

5,216

 

Net interest income

 

67,024

 

64,728

 

63,822

 

62,591

 

Provision for credit losses

 

2,112

 

2,288

 

3,888

 

3,043

 

Net interest income after provision for credit losses

 

64,912

 

62,440

 

59,934

 

59,548

 

Noninterest income

 

7,014

 

6,405

 

7,575

 

6,290

 

Noninterest expense

 

29,780

 

28,838

 

28,295

 

28,103

 

Income before income tax expense

 

42,146

 

40,007

 

39,214

 

37,735

 

Income tax expense

 

16,429

 

15,484

 

15,069

 

14,413

 

Net income

 

25,717

 

24,523

 

24,145

 

23,322

 

Net income available to common shareholders

 

$

25,717

 

$

24,523

 

$

24,145

 

$

23,322

 

Earnings per common share

 

 

 

 

 

 

 

 

 

Basic (1)

 

$

0.76

 

$

0.73

 

$

0.72

 

$

0.70

 

Diluted (1)

 

$

0.75

 

$

0.72

 

$

0.71

 

$

0.68

 

 

 

 

 

2015

 

(dollars in thousands except per share data)

 

Fourth Quarter

 

Third Quarter

 

Second Quarter

 

First Quarter

 

Total interest income

 

$

67,311

 

$

63,981

 

$

62,423

 

$

59,465

 

Total interest expense

 

4,735

 

4,896

 

4,873

 

4,734

 

Net interest income

 

62,576

 

59,085

 

57,550

 

54,731

 

Provision for credit losses

 

4,595

 

3,262

 

3,471

 

3,310

 

Net interest income after provision for credit losses

 

57,981

 

55,823

 

54,079

 

51,421

 

Noninterest income

 

6,492

 

6,099

 

6,233

 

7,804

 

Noninterest expense

 

28,640

 

27,405

 

26,598

 

28,073

 

Income before income tax expense

 

35,833

 

34,517

 

33,714

 

31,152

 

Income tax expense

 

13,485

 

13,054

 

12,776

 

11,734

 

Net income

 

22,348

 

21,463

 

20,938

 

19,418

 

Preferred stock dividends and discount accretion

 

62

 

180

 

179

 

180

 

Net income available to common shareholders

 

$

22,286

 

$

21,283

 

$

20,759

 

$

19,238

 

Earnings per common share

 

 

 

 

 

 

 

 

 

Basic (1)

 

$

0.67

 

$

0.64

 

$

0.62

 

$

0.62

 

Diluted (1)

 

$

0.65

 

$

0.63

 

$

0.61

 

$

0.61

 

 


(1)  Earnings per common share are calculated on a quarterly basis and may not be additive to the year to date amount.