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Segment Reporting (Tables)
9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Schedule of Segment Financial Information

The following tables provides segment financial information for the three and nine months ended September 30, 2017 and 2016 follows:  

 

Three Months Ended September 30, 2017

 

 

Banking

 

 

Mortgage

 

 

Consolidated

 

Net interest income

 

$

43,741

 

 

$

(131

)

 

$

43,610

 

Provision for loan loss

 

 

(784

)

 

 

—

 

 

 

(784

)

Mortgage banking income

 

 

7,498

 

 

 

24,729

 

 

 

32,227

 

Change in fair value of mortgage servicing rights (1)

 

 

—

 

 

 

(893

)

 

 

(893

)

Other noninterest income

 

 

6,486

 

 

 

—

 

 

 

6,486

 

Depreciation

 

 

972

 

 

 

125

 

 

 

1,097

 

Amortization of intangibles

 

 

558

 

 

 

—

 

 

 

558

 

Loss on sale of mortgage servicing rights

 

 

—

 

 

 

—

 

 

 

—

 

Other noninterest mortgage banking expense

 

 

6,216

 

 

 

19,632

 

 

 

25,848

 

Other noninterest expense (2)

 

 

41,721

 

 

 

—

 

 

 

41,721

 

Income before income taxes

 

 

9,042

 

 

 

3,948

 

 

 

12,990

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

4,602

 

Net income

 

 

 

 

 

 

 

 

 

 

8,388

 

Total assets

 

$

4,056,901

 

 

$

525,042

 

 

$

4,581,943

 

Goodwill

 

 

138,810

 

 

 

100

 

 

 

138,910

 

(1) Included in mortgage banking income.

 

 

 

 

 

 

 

 

 

 

 

 

(2) Included $15,711 in merger and conversion expenses related to the merger with the Clayton Banks.

 

 

Three Months Ended September 30, 2016

 

 

Banking

 

 

Mortgage

 

 

Consolidated

 

Net interest income

 

$

28,158

 

 

$

(541

)

 

$

27,617

 

Provision for loan loss

 

 

71

 

 

 

—

 

 

 

71

 

Mortgage banking income

 

 

8,878

 

 

 

28,060

 

 

 

36,938

 

Other noninterest income

 

 

7,024

 

 

 

—

 

 

 

7,024

 

Depreciation

 

 

927

 

 

 

45

 

 

 

972

 

Amortization of intangibles

 

 

526

 

 

 

—

 

 

 

526

 

Amortization and impairment of mortgage servicing rights

 

 

—

 

 

 

5,198

 

 

 

5,198

 

Other noninterest mortgage banking expense

 

 

7,293

 

 

 

18,501

 

 

 

25,794

 

Other noninterest expense (1)

 

 

23,039

 

 

 

—

 

 

 

23,039

 

Income before income taxes

 

 

12,204

 

 

 

3,775

 

 

 

15,979

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

14,772

 

Net income

 

 

 

 

 

 

 

 

 

 

1,207

 

Total assets

 

$

2,661,116

 

 

$

526,064

 

 

$

3,187,180

 

Goodwill

 

 

46,767

 

 

 

100

 

 

 

46,867

 

 

(1)

Included $1,122 in merger and conversion expenses related to the merger with NWGB.

 

Nine Months Ended September 30, 2017

 

 

Banking

 

 

Mortgage

 

 

Consolidated

 

Net interest income

 

$

103,596

 

 

$

692

 

 

$

104,288

 

Provision for loan loss

 

 

(1,906

)

 

 

—

 

 

 

(1,906

)

Mortgage banking income

 

 

20,282

 

 

 

69,605

 

 

 

89,887

 

Change in fair value of mortgage servicing rights (1)

 

 

—

 

 

 

(3,234

)

 

 

(3,234

)

Other noninterest income

 

 

17,911

 

 

 

—

 

 

 

17,911

 

Depreciation

 

 

2,697

 

 

 

393

 

 

 

3,090

 

Amortization of intangibles

 

 

1,073

 

 

 

—

 

 

 

1,073

 

Loss on sale of mortgage servicing rights

 

 

—

 

 

 

249

 

 

 

249

 

Other noninterest mortgage banking expense

 

 

16,420

 

 

 

56,587

 

 

 

73,007

 

Other noninterest expense (2)

 

 

87,358

 

 

 

—

 

 

 

87,358

 

Income before income taxes

 

 

36,147

 

 

 

9,834

 

 

 

45,981

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

16,601

 

Net income

 

 

 

 

 

 

 

 

 

 

29,380

 

Total assets

 

$

4,056,901

 

 

$

525,042

 

 

$

4,581,943

 

Goodwill

 

 

138,810

 

 

 

100

 

 

 

138,910

 

 

(1)

Included in mortgage banking income

(2)

Included $16,965 in merger and conversion expenses related to the merger with the Clayton Banks.

 

 

Nine Months Ended September 30, 2016

 

 

Banking

 

 

Mortgage

 

 

Consolidated

 

Net interest income

 

$

83,389

 

 

$

(1,471

)

 

$

81,918

 

Provision for loan loss

 

 

(727

)

 

 

—

 

 

 

(727

)

Mortgage banking income

 

 

22,237

 

 

 

69,337

 

 

 

91,574

 

Other noninterest income

 

 

21,779

 

 

 

—

 

 

 

21,779

 

Depreciation and amortization

 

 

2,729

 

 

 

265

 

 

 

2,994

 

Amortization of intangibles

 

 

1,605

 

 

 

—

 

 

 

1,605

 

Amortization and impairment of mortgage servicing rights

 

 

—

 

 

 

14,310

 

 

 

14,310

 

Other noninterest mortgage banking expense

 

 

15,223

 

 

 

47,360

 

 

 

62,583

 

Other noninterest expense (1)

 

 

65,979

 

 

 

—

 

 

 

65,979

 

Income before income taxes

 

 

42,596

 

 

 

5,931

 

 

 

48,527

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

16,946

 

Net income

 

 

 

 

 

 

 

 

 

 

31,581

 

Total assets

 

$

2,661,116

 

 

$

526,064

 

 

$

3,187,180

 

Goodwill

 

 

46,767

 

 

 

100

 

 

 

46,867