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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest income:      
Real estate secured loans $ 223,361 $ 215,231 $ 189,896
Commercial loans 82,540 79,371 72,907
Consumer loans 18,579 19,906 20,301
Available for sale debt securities and Federal Home Loan Bank Stock 31,842 30,981 26,445
Held to maturity debt securities 12,424 12,606 13,027
Deposits, federal funds sold and other short-term investments 2,724 1,734 1,270
Total interest income 371,470 359,829 323,846
Interest expense:      
Deposits 45,494 30,693 19,441
Borrowed funds 28,003 28,460 26,203
Total interest expense 73,497 59,153 45,644
Net interest income 297,973 300,676 278,202
Provision for loan losses 13,100 23,700 5,600
Net interest income after provision for loan losses 284,873 276,976 272,602
Non-interest income:      
Fees 28,321 28,084 27,218
Wealth management income 22,503 17,957 17,604
Bank-owned life insurance 6,297 5,514 6,693
Net gain on securities transactions 72 2,221 57
Other income 6,601 4,900 4,125
Total non-interest income 63,794 58,676 55,697
Non-interest expense:      
Compensation and employee benefits 116,849 111,496 109,353
Net occupancy expense 25,895 25,056 25,290
Data processing expense 16,836 14,664 13,922
FDIC Insurance 1,316 3,482 3,887
Advertising and promotion expense 4,115 3,836 3,904
Amortization of intangibles 2,740 2,127 2,670
Other operating expenses 33,828 31,074 28,796
Total non-interest expenses 201,579 191,735 187,822
Income before income tax expense 147,088 143,917 140,477
Income tax expense 34,455 25,530 46,528
Net income $ 112,633 $ 118,387 $ 93,949
Basic earnings per share (in dollars per share) $ 1.74 $ 1.82 $ 1.46
Average basic shares outstanding (in shares) 64,604,224 64,942,886 64,384,851
Diluted earnings per share (in dollars per share) $ 1.74 $ 1.82 $ 1.45
Average diluted shares outstanding (in shares) 64,734,591 65,103,097 64,579,222