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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest income:    
Loans $ 160,675 $ 116,285
Investment securities:    
Taxable 12,534 12,286
Tax-exempt 1,737 1,716
Federal funds sold and other 1,813 1,995
Total interest income 176,759 132,282
Interest expense:    
Deposits 19,836 13,323
Securities sold under agreement to repurchase 252 236
Federal funds purchased and other borrowings 2,321 3,978
Corporate and subordinated debentures 997 570
Total interest expense 23,406 18,107
Net interest income 153,353 114,175
Provision for credit losses 44,914 1,053
Net interest income after credit loss provision 108,439 113,122
Non-interest income:    
Correspondent banking capital markets revenue 26,424 7,972
Other correspondent banking related revenue 1,384 1,028
Small business administration loans revenue 1,403 688
Debit, prepaid, ATM and merchant card related fees 3,667 5,018
Wealth management related revenue 831 607
Bank owned life insurance income 1,927 1,626
Net gain on sale of available for sale debt securities   17
Other non-interest income 1,659 1,473
Total other income 55,790 29,300
Non-interest expense:    
Salaries, wages and employee benefits 77,077 48,393
Occupancy expense 7,346 5,602
Depreciation of premises and equipment 4,045 2,850
Supplies, stationary and printing 861 748
Marketing expenses 2,158 2,020
Data processing expense 5,617 3,656
Legal, audit and other professional fees 2,682 1,442
Amortization of intangibles 4,535 2,814
Credit loss expense for unfunded commitments 1,027  
Postage and delivery 1,160 925
ATM and debit card and merchant card related expenses 1,598 1,453
Bank regulatory expenses 1,807 1,616
Loss on sale of repossessed real estate (“OREO”) 1 47
Valuation write down of OREO 95 108
(Gain) loss on repossessed assets other than real estate (8) 13
Foreclosure related expenses 856 561
Merger related expenses 3,051 6,365
Impairment on bank property held for sale 31 107
Other expenses 8,833 5,753
Total other expenses 122,772 84,473
Income before provision for income taxes 41,457 57,949
Provision for income taxes 6,025 13,306
Net income 35,432 44,643
Other comprehensive income, net of tax    
Unrealized available for sale debt securities holding gain, net of taxes of $13,268 and $7,322, respectively 39,729 21,571
Unrealized interest rate swap holding loss, net of taxes of ($1,917) and $0, respectively (5,740)  
Less: reclassified adjustments for gain included in net income, net income tax expense of $0 and $4, respectively   (13)
Net change in accumulated other comprehensive income 33,989 21,558
Total comprehensive income $ 69,421 $ 66,201
Earnings per share:    
Basic $ 0.28 $ 0.47
Diluted $ 0.28 $ 0.46
Common shares used in the calculation of earnings per share:    
Basic [1] 124,798,732 95,740,856
Diluted [1] 125,341,227 96,500,740
Mortgage Banking Revenue [Member]    
Non-interest income:    
Non interest income $ 10,973 $ 4,193
Service Charges on Deposit Accounts [Member]    
Non-interest income:    
Non interest income $ 7,522 $ 6,678
[1] Excludes participating shares