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QUARTERLY FINANCIAL DATA (unaudited)
12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
QUARTERLY FINANCIAL DATA (unaudited)
QUARTERLY FINANCIAL DATA (unaudited)

The following table sets forth certain consolidated quarterly financial information of the Company. During the second quarter of 2018, Company recorded approximately $15.1 million of after-tax merger and conversion charges and approximately $4.5 million of after-tax executive retirement benefits. During the fourth quarter of 2017, the Company recorded approximately $13.6 million of additional income tax expense attributable to the remeasurement of deferred tax assets and deferred tax liabilities at a reduced federal corporate tax rate. During the third quarter of 2017, the Company recorded approximately $3.1 million of after-tax compliance resolution expense.

 
Quarters Ended December 31, 2018
(dollars in thousands, except per share data)
4
 
3
 
2
 
1
Selected Income Statement Data
 
 
 
 
 
 
 
Interest income
$
122,749

 
$
121,119

 
$
89,946

 
$
79,512

Interest expense
23,195

 
22,081

 
13,947

 
10,711

Net interest income
99,554

 
99,038

 
75,999

 
68,801

Provision for loan losses
3,661

 
2,095

 
9,110

 
1,801

Net interest income after provision for loan losses
95,893

 
96,943

 
66,889

 
67,000

Noninterest income
30,470

 
30,171

 
31,307

 
26,464

Noninterest expense
74,813

 
72,077

 
67,995

 
58,263

Merger and conversion charges
997

 
276

 
18,391

 
835

Income before income taxes
50,553

 
54,761

 
11,810

 
34,366

Income tax
7,017

 
13,317

 
2,423

 
7,706

Net income
$
43,536

 
$
41,444

 
$
9,387

 
$
26,660

 
 
 
 
 
 
 
 
Per Share Data
 
 
 
 
 
 
 
Net income – basic
$
0.92

 
$
0.87

 
$
0.24

 
$
0.70

Net income – diluted
0.91

 
0.87

 
0.24

 
0.70

Common dividends - cash
0.10

 
0.10

 
0.10

 
0.10


 
Quarters Ended December 31, 2017
(dollars in thousands, except per share data)
4
 
3
 
2
 
1
Selected Income Statement Data
 
 
 
 
 
 
 
Interest income
$
79,564

 
$
76,322

 
$
71,411

 
$
67,050

Interest expense
10,041

 
9,467

 
8,254

 
6,460

Net interest income
69,523

 
66,855

 
63,157

 
60,590

Provision for loan losses
2,536

 
1,787

 
2,205

 
1,836

Net interest income after provision for loan losses
66,987

 
65,068

 
60,952

 
58,754

Noninterest income
23,563

 
26,999

 
28,189

 
25,706

Noninterest expense
58,916

 
63,675

 
55,739

 
52,691

Merger and conversion charges
421

 
92

 

 
402

Income before income taxes
31,213

 
28,300

 
33,402

 
31,367

Income tax
22,063

 
8,142

 
10,315

 
10,214

Net income
$
9,150

 
$
20,158

 
$
23,087

 
$
21,153

 
 
 
 
 
 
 
 
Per Share Data
 
 
 
 
 
 
 
Net income – basic
$
0.25

 
$
0.54

 
$
0.62

 
$
0.59

Net income – diluted
0.24

 
0.54

 
0.62

 
0.59

Common dividends - cash
0.10

 
0.10

 
0.10

 
0.10