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Segment Reporting (Tables)
6 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
Schedule of Segment Financial Information

The following tables provides segment financial information for the three and six months ended June 30, 2018 and 2017 follows:

 

Three Months Ended June 30, 2018

 

 

Banking

 

 

Mortgage

 

 

Consolidated

 

Net interest income

 

$

51,669

 

 

$

(152

)

 

$

51,517

 

Provision for loan loss

 

 

1,063

 

 

 

 

 

 

1,063

 

Mortgage banking income

 

 

6,894

 

 

 

23,428

 

 

 

30,322

 

Change in fair value of mortgage servicing rights(1)

 

 

 

 

 

(1,778

)

 

 

(1,778

)

Other noninterest income

 

 

7,164

 

 

 

 

 

 

7,164

 

Depreciation

 

 

990

 

 

 

142

 

 

 

1,132

 

Amortization of intangibles

 

 

802

 

 

 

 

 

 

802

 

Other noninterest mortgage banking expense

 

 

5,649

 

 

 

19,440

 

 

 

25,089

 

Other noninterest expense

 

 

29,280

 

 

 

 

 

 

29,280

 

Income before income taxes

 

 

27,943

 

 

 

1,916

 

 

 

29,859

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

7,794

 

Net income

 

 

 

 

 

 

 

 

 

 

22,065

 

Total assets

 

$

4,443,469

 

 

$

479,780

 

 

$

4,923,249

 

Goodwill

 

 

137,090

 

 

 

100

 

 

 

137,190

 

 

(1)Included in mortgage banking income, net of hedging gains/losses, on the Consolidated Unaudited Statements of Income.

 

 

Three Months Ended June 30, 2017

 

 

Banking

 

 

Mortgage

 

 

Consolidated

 

Net interest income

 

$

29,999

 

 

$

428

 

 

$

30,427

 

Provision for loan loss

 

 

(865

)

 

 

 

 

 

(865

)

Mortgage banking income

 

 

7,118

 

 

 

24,961

 

 

 

32,079

 

Change in fair value of mortgage servicing rights(1)

 

 

 

 

 

(1,840

)

 

 

(1,840

)

Other noninterest income

 

 

5,418

 

 

 

 

 

 

5,418

 

Depreciation

 

 

861

 

 

 

130

 

 

 

991

 

Amortization of intangibles

 

 

123

 

 

 

 

 

 

123

 

Loss on sale of mortgage servicing rights

 

 

 

 

 

249

 

 

 

249

 

Other noninterest mortgage banking expense

 

 

5,368

 

 

 

19,423

 

 

 

24,791

 

Other noninterest expense(2)

 

 

22,982

 

 

 

 

 

 

22,982

 

Income before income taxes

 

 

14,066

 

 

 

3,747

 

 

 

17,813

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

6,574

 

Net income

 

 

 

 

 

 

 

 

 

 

11,239

 

Total assets

 

$

2,878,437

 

 

$

468,133

 

 

$

3,346,570

 

Goodwill

 

 

46,767

 

 

 

100

 

 

 

46,867

 

(1)

Included in mortgage banking income on the Consolidated Unaudited Statements of Income.

(2)

Included $767 in merger and conversion expenses related to the merger with the Clayton Banks.

 

Six Months Ended June 30, 2018

 

 

Banking

 

 

Mortgage

 

 

Consolidated

 

Net interest income

 

$

100,440

 

 

$

(494

)

 

$

99,946

 

Provision for loan loss

 

 

1,380

 

 

 

 

 

 

1,380

 

Mortgage banking income

 

 

13,002

 

 

 

45,504

 

 

 

58,506

 

Net, change in fair value of mortgage servicing rights(1)

 

 

 

 

 

(3,491

)

 

 

(3,491

)

Other noninterest income

 

 

13,968

 

 

 

 

 

 

13,968

 

Depreciation

 

 

1,968

 

 

 

270

 

 

 

2,238

 

Amortization of intangibles

 

 

1,655

 

 

 

 

 

 

1,655

 

Other noninterest mortgage banking expense

 

 

10,746

 

 

 

38,222

 

 

 

48,968

 

Other noninterest expense(2)

 

 

59,593

 

 

 

 

 

 

59,593

 

Income before income taxes

 

 

52,068

 

 

 

3,027

 

 

 

55,095

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

13,276

 

Net income

 

 

 

 

 

 

 

 

 

 

41,819

 

Total assets

 

$

4,443,469

 

 

$

479,780

 

 

$

4,923,249

 

Goodwill

 

 

137,090

 

 

 

100

 

 

 

137,190

 

 

(1)

Included in mortgage banking income on the Consolidated Unaudited Statements of Income.

(2)

Included $1,193 in merger and conversion expenses related to the merger with the Clayton Banks.

 

 

Six Months Ended June 30, 2017

 

 

Banking

 

 

Mortgage

 

 

Consolidated

 

Net interest income

 

$

59,855

 

 

$

823

 

 

$

60,678

 

Provision for loan loss

 

 

(1,122

)

 

 

 

 

 

(1,122

)

Mortgage banking income

 

 

12,784

 

 

 

44,876

 

 

 

57,660

 

Net, change in fair value of mortgage servicing rights(1)

 

 

 

 

 

(2,341

)

 

 

(2,341

)

Other noninterest income

 

 

11,425

 

 

 

 

 

 

11,425

 

Depreciation and amortization

 

 

1,725

 

 

 

268

 

 

 

1,993

 

Amortization of intangibles

 

 

515

 

 

 

 

 

 

515

 

Loss on sale of mortgage servicing rights

 

 

 

 

 

249

 

 

 

249

 

Other noninterest mortgage banking expense

 

 

10,204

 

 

 

36,955

 

 

 

47,159

 

Other noninterest expense(2)

 

 

45,637

 

 

 

 

 

 

45,637

 

Income before income taxes

 

 

27,105

 

 

 

5,886

 

 

 

32,991

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

11,999

 

Net income

 

 

 

 

 

 

 

 

 

 

20,992

 

Total assets

 

$

2,878,437

 

 

$

468,133

 

 

$

3,346,570

 

Goodwill

 

 

46,767

 

 

 

100

 

 

 

46,867

 

(1)

Included in mortgage banking income, net of hedging gains/losses, on the Consolidated Unaudited Statements of Income.

(2)

Included $1,254 in merger and conversion expenses related to the merger with the Clayton Banks.