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QUARTERLY FINANCIAL DATA (unaudited) (Tables)
12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Consolidated Quarterly Financial Information
The following table sets forth certain consolidated quarterly financial information of the Company.  During the first quarter of 2016, the Company completed the acquisition of JAXB. The Company recorded approximately $4.1 million of after-tax merger related charges from this acquisition. During the fourth quarter of 2016, the Company recorded approximately $3.7 million of after-tax compliance resolution expense. During the second quarter of 2015, the Company completed the acquisition of Merchants and completed the acquisition and data conversion of 18 additional branches in South Georgia and North Florida from Bank of America. The Company recorded approximately $3.7 million of after-tax merger related charges from these acquisitions. Additionally, during the second quarter of 2015, the Company recorded $7.3 million of after-tax OREO write-downs and other credit-related resolution expenses related to an aggressive write-down on remaining non-performing assets.
 
 
 
Quarters Ended December 31, 2016
 
 
 
4
 
3
 
2
 
1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(dollars in thousands, except per share data)
 
Selected Income Statement Data
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest income
 
$
62,956
 
$
62,210
 
$
59,340
 
$
54,559
 
Interest expense
 
 
5,677
 
 
5,143
 
 
4,751
 
 
4,123
 
Net interest income
 
 
57,279
 
 
57,067
 
 
54,589
 
 
50,436
 
Provision for loan losses
 
 
1,710
 
 
811
 
 
889
 
 
681
 
Net interest income after provision for loan losses
 
 
55,569
 
 
56,256
 
 
53,700
 
 
49,755
 
Noninterest income
 
 
24,272
 
 
28,864
 
 
28,379
 
 
24,286
 
Noninterest expense
 
 
54,660
 
 
53,199
 
 
52,359
 
 
49,241
 
Merger and conversion charges
 
 
17
 
 
-
 
 
-
 
 
6,359
 
Income before income taxes
 
 
25,164
 
 
31,921
 
 
29,720
 
 
18,441
 
Income tax
 
 
6,987
 
 
10,364
 
 
9,671
 
 
6,124
 
Net income
 
$
18,177
 
$
21,557
 
$
20,049
 
$
12,317
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Per Share Data
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income – basic
 
$
0.52
 
$
0.62
 
$
0.58
 
$
0.38
 
Net income – diluted
 
 
0.52
 
 
0.61
 
 
0.57
 
 
0.37
 
Common dividends - cash
 
 
0.10
 
 
0.10
 
 
0.05
 
 
0.05
 
 
 
 
Quarters Ended December 31, 2015
 
 
 
4
 
3
 
2
 
1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(dollars in thousands, except per share data)
 
Selected Income Statement Data
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest income
 
$
52,601
 
$
51,195
 
$
44,229
 
$
42,368
 
Interest expense
 
 
3,983
 
 
3,796
 
 
3,541
 
 
3,536
 
Net interest income
 
 
48,618
 
 
47,399
 
 
40,688
 
 
38,832
 
Provision for loan losses
 
 
553
 
 
986
 
 
2,656
 
 
1,069
 
Net interest income after provision for loan losses
 
 
48,065
 
 
46,413
 
 
38,032
 
 
37,763
 
Noninterest income
 
 
22,407
 
 
24,978
 
 
20,626
 
 
17,575
 
Noninterest expense
 
 
51,221
 
 
47,950
 
 
51,152
 
 
40,812
 
Merger and conversion charges
 
 
1,807
 
 
446
 
 
5,712
 
 
15
 
Income before income taxes
 
 
17,444
 
 
22,995
 
 
1,794
 
 
14,511
 
Income tax
 
 
3,296
 
 
7,368
 
 
486
 
 
4,747
 
Net income
 
$
14,148
 
$
15,627
 
$
1,308
 
$
9,764
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Per Share Data
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income – basic
 
$
0.44
 
$
0.49
 
$
0.04
 
$
0.32
 
Net income – diluted
 
 
0.43
 
 
0.48
 
 
0.04
 
 
0.32
 
Common dividends - cash
 
 
0.05
 
 
0.05
 
 
0.05
 
 
0.05