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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income:        
Interest and fees on loans $ 56,762 $ 43,002 $ 138,595 $ 104,333
Interest and dividends on investment securities:        
Taxable interest income 4,689 3,398 12,339 10,585
Non-taxable interest income 1,068 788 2,521 2,332
Total interest income 62,519 47,188 153,455 117,250
Interest expense:        
Deposits 3,851 2,099 8,058 4,998
Federal funds purchased and securities sold under agreements to Repurchase 291 102 618 274
Short-term borrowings 447 263 521 461
Long-term debt 141 55 421 155
Senior notes 400   562  
Subordinated notes 799   1,098  
Junior subordinated debt owed to unconsolidated trusts 649 538 1,857 1,337
Total interest expense 6,578 3,057 13,135 7,225
Net interest income 55,941 44,131 140,320 110,025
Provision for loan losses 1,494 1,950 2,494 4,050
Net interest income after provision for loan losses 54,447 42,181 137,826 105,975
Non-interest income:        
Trust fees 5,071 4,520 17,088 15,112
Commissions and brokers' fees, net 766 740 2,239 2,095
Remittance processing 2,877 2,803 8,581 8,558
Fees for customer services 6,577 6,495 18,658 17,074
Mortgage revenue 3,526 4,842 8,430 9,091
Security gains, net 290 11 1,143 1,230
Other 1,730 1,334 4,774 3,008
Total non-interest income 20,837 20,745 60,913 56,168
Non-interest expense:        
Salaries, wages and employee benefits 25,497 21,716 67,448 55,575
Net occupancy expense of premises 3,714 3,401 10,025 8,300
Furniture and equipment expenses 1,785 1,836 5,123 4,564
Data processing 5,753 4,430 13,290 12,677
Amortization of intangible assets 1,286 1,282 3,675 3,157
Regulatory expense 778 802 1,803 2,274
Other 8,126 5,948 19,962 16,904
Total non-interest expense 46,939 39,415 121,326 103,451
Income before income taxes 28,345 23,511 77,413 58,692
Income taxes 9,561 8,089 26,980 20,453
Net income $ 18,784 $ 15,422 $ 50,433 $ 38,239
Basic earnings per common share (in dollars per share) $ 0.41 $ 0.40 $ 1.24 $ 1.12
Diluted earnings per common share (in dollars per share) 0.41 0.40 1.23 1.11
Dividends declared per share of common stock (in dollars per share) $ 0.18 $ 0.17 $ 0.54 $ 0.51