XML 15 R4.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income:        
Interest and fees on loans $ 78,031,000 $ 62,290,000 $ 149,820,000 $ 123,250,000
Interest and dividends on investment securities:        
Taxable interest income 11,152,000 6,323,000 21,336,000 12,313,000
Non-taxable interest income 1,200,000 1,204,000 2,276,000 2,464,000
Other interest income 1,083,000 508,000 2,315,000 931,000
Total interest income 91,466,000 70,325,000 175,747,000 138,958,000
Interest expense:        
Deposits 14,154,000 6,904,000 26,654,000 12,891,000
Federal funds purchased and securities sold under agreements to repurchase 627,000 372,000 1,210,000 713,000
Short-term borrowings 494,000 457,000 685,000 933,000
Long-term debt 741,000 213,000 1,320,000 377,000
Senior notes 399,000 399,000 799,000 799,000
Subordinated notes 731,000 794,000 1,462,000 1,587,000
Junior subordinated debt owed to unconsolidated trusts 892,000 814,000 1,806,000 1,529,000
Total interest expense 18,038,000 9,953,000 33,936,000 18,829,000
Net interest income 73,428,000 60,372,000 141,811,000 120,129,000
Provision for loan losses 2,517,000 2,258,000 4,628,000 3,266,000
Net interest income after provision for loan losses 70,911,000 58,114,000 137,183,000 116,863,000
Non-interest income:        
Mortgage revenue 2,851,000 1,573,000 4,796,000 3,216,000
Net (losses) gains on sales of securities (10,000) 160,000 (184,000) 160,000
Unrealized (losses) gains recognized on equity securities (1,016,000)   (800,000)  
Other income 3,170,000 2,595,000 6,222,000 4,490,000
Total non-interest income 27,896,000 22,802,000 53,841,000 45,288,000
Non-interest expense:        
Salaries, wages and employee benefits 34,268,000 25,472,000 66,609,000 54,291,000
Net occupancy expense of premises 4,511,000 3,689,000 8,713,000 7,510,000
Furniture and equipment expenses 2,352,000 1,790,000 4,447,000 3,703,000
Data processing 5,616,000 4,030,000 10,017,000 8,375,000
Amortization of intangible assets 2,412,000 1,490,000 4,506,000 3,005,000
Other expense 18,861,000 10,834,000 30,891,000 21,461,000
Total non-interest expense 68,020,000 47,305,000 125,183,000 98,345,000
Income before income taxes 30,787,000 33,611,000 65,841,000 63,806,000
Income taxes 6,702,000 8,749,000 16,287,000 17,027,000
Net income $ 24,085,000 $ 24,862,000 $ 49,554,000 $ 46,779,000
Basic earnings per common share (in dollars per share) $ 0.43 $ 0.51 $ 0.91 $ 0.96
Diluted earnings per common share (in dollars per share) 0.43 0.51 0.90 0.95
Dividends declared per share of common stock (in dollars per share) $ 0.21 $ 0.20 $ 0.42 $ 0.40
Fees for customer services        
Non-interest income:        
Non-interest income $ 9,696,000 $ 7,290,000 $ 17,793,000 $ 14,236,000
Trust fees        
Non-interest income:        
Non-interest income 8,318,000 6,735,000 16,433,000 14,249,000
Commissions and brokers fees, net        
Non-interest income:        
Non-interest income 1,170,000 883,000 2,084,000 1,979,000
Remittance processing        
Non-interest income:        
Non-interest income $ 3,717,000 $ 3,566,000 $ 7,497,000 $ 6,958,000