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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income:        
Interest and fees on loans $ 41,236 $ 36,187 $ 81,833 $ 61,331
Interest and dividends on investment securities:        
Taxable interest income 4,047 3,576 7,650 7,187
Non-taxable interest income 726 775 1,453 1,544
Total interest income 46,009 40,538 90,936 70,062
Interest expense:        
Deposits 2,163 1,792 4,207 2,899
Federal funds purchased and securities sold under agreements to repurchase 204 90 327 172
Short-term borrowings 27 185 74 198
Long-term debt 167 57 280 100
Senior notes 162   162  
Subordinated notes 299   299  
Junior subordinated debt owed to unconsolidated trusts 621 462 1,208 799
Total interest expense 3,643 2,586 6,557 4,168
Net interest income 42,366 37,952 84,379 65,894
Provision for loan losses 500 1,100 1,000 2,100
Net interest income after provision for loan losses 41,866 36,852 83,379 63,794
Non-interest income:        
Trust fees 5,827 5,045 12,017 10,592
Commissions and brokers' fees, net 751 687 1,473 1,355
Remittance processing 2,859 2,830 5,704 5,755
Fees for customer services 6,095 5,873 12,081 10,579
Mortgage revenue 2,770 3,369 4,904 4,249
Security (losses) gains ,net (4) 152 853 1,219
Other 1,764 621 3,044 1,674
Total non-interest income 20,062 18,577 40,076 35,423
Non-interest expense:        
Salaries, wages and employee benefits 20,061 18,493 41,951 33,859
Net occupancy expense of premises 3,126 2,732 6,311 4,899
Furniture and equipment expenses 1,719 1,644 3,338 2,728
Data processing 3,939 5,015 7,537 8,247
Amortization of intangible assets 1,182 1,109 2,389 1,875
Regulatory expense 433 884 1,025 1,472
Other 6,308 6,471 11,836 10,956
Total non-interest expense 36,768 36,348 74,387 64,036
Income before income taxes 25,160 19,081 49,068 35,181
Income taxes 8,681 6,698 17,419 12,364
Net income $ 16,479 $ 12,383 $ 31,649 $ 22,817
Basic earnings per common share (in dollars per share) $ 0.43 $ 0.35 $ 0.83 $ 0.72
Diluted earnings per common share (in dollars per share) 0.43 0.35 0.82 0.71
Dividends declared per share of common stock (in dollars per share) $ 0.18 $ 0.17 $ 0.36 $ 0.34