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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income:        
Real estate secured loans $ 45,262 $ 44,541 $ 134,411 $ 131,424
Commercial loans 16,093 13,767 46,419 40,875
Consumer loans 5,627 5,646 16,657 17,234
Securities available for sale and Federal Home Loan Bank Stock 5,576 5,672 17,074 17,708
Investment securities held to maturity 3,349 3,368 10,011 10,150
Deposits, Federal funds sold and other short-term investments 138 19 252 41
Total interest income 76,045 73,013 224,824 217,432
Interest expense:        
Deposits 4,441 3,639 12,397 10,851
Borrowed funds 6,633 6,827 20,477 20,432
Total interest expense 11,074 10,466 32,874 31,283
Net interest income 64,971 62,547 191,950 186,149
Provision for loan losses 1,000 1,400 4,200 3,100
Net interest income after provision for loan losses 63,971 61,147 187,750 183,049
Non-interest income:        
Fees 6,137 6,230 19,309 19,465
Wealth management income 4,262 4,750 13,084 12,405
Bank-owned life insurance 1,382 1,248 4,083 3,913
Net (loss) gain on securities transactions (43) 5 54 650
Other income (expense) 2,328 (123) 4,378 2,922
Total non-interest income 14,066 12,110 40,908 39,355
Non-interest expense:        
Compensation and employee benefits 26,725 24,784 78,496 73,399
Net occupancy expense 6,227 6,186 18,729 19,935
Data processing expense 3,328 3,239 9,845 9,425
FDIC insurance 1,117 1,273 3,732 3,763
Amortization of intangibles 767 1,012 2,628 3,063
Advertising and promotion expense 787 598 2,567 2,740
Other operating expenses 6,899 6,522 20,628 20,845
Total non-interest expense 45,850 43,614 136,625 133,170
Income before income tax expense 32,187 29,643 92,033 89,234
Income tax expense 9,281 9,034 26,798 27,027
Net income $ 22,906 $ 20,609 $ 65,235 $ 62,207
Basic earnings per share (usd per share) $ 0.36 $ 0.33 $ 1.03 $ 0.99
Weighted average basic shares outstanding (in shares) 63,728,393 63,034,185 63,545,065 62,868,745
Diluted earnings per share (usd per share) $ 0.36 $ 0.33 $ 1.02 $ 0.99
Weighted average diluted shares outstanding (in shares) 63,934,886 63,198,299 63,727,723 63,029,389