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Consolidated Statement of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
INTEREST INCOME:        
Interest and fees on loans $ 39,368 $ 34,682 $ 110,464 $ 101,586
Interest on investment securities:        
Taxable 7,298 6,858 22,502 21,032
Exempt from federal income tax 10,457 8,335 29,439 24,543
Interest on federal funds sold and interest-bearing deposits in banks 40 80 171 257
Total interest income 57,163 49,955 162,576 147,418
INTEREST EXPENSE:        
Interest on deposits 932 999 2,761 2,894
Other 133 70 281 249
Total interest expense 1,065 1,069 3,042 3,143
Net interest income 56,098 48,886 159,534 144,275
PROVISION FOR LOAN LOSSES 2,664 896 5,508 3,710
Net interest income after provision for loan losses 53,434 47,990 154,026 140,565
NONINTEREST INCOME:        
Trust fees 4,818 4,772 14,289 13,897
Service charges on deposit accounts 4,653 4,402 12,442 12,623
ATM, interchange and credit card fees 5,794 5,093 16,209 14,291
Real estate mortgage operations 3,742 2,079 7,321 4,835
Net gain (loss) on sale of available-for-sale securities (includes $136 and $1 for the three months ended September 30, 2015 and 2014, respectively, and $380 and ($4) for the nine months ended September 30, 2015 and 2014, respectively, related to accumulated other comprehensive earnings reclassification) 136 1 380 (4)
Net gain (loss) on sale of foreclosed assets 28 305 10 804
Other 1,275 672 3,501 3,155
Total noninterest income 20,446 17,324 54,152 49,601
NONINTEREST EXPENSE:        
Salaries and employee benefits 21,648 17,950 59,086 52,638
Net occupancy expense 3,050 2,297 7,640 6,804
Equipment expense 3,114 2,758 9,005 8,045
FDIC insurance premiums 819 693 2,316 2,035
ATM, interchange and credit card expenses 1,509 1,819 4,844 4,995
Professional and service fees 1,148 1,205 3,370 3,249
Printing, stationery and supplies 594 632 1,662 1,960
Amortization of intangible assets 200 62 362 210
Other 7,891 6,624 20,837 21,553
Total noninterest expense 39,973 34,040 109,122 101,489
EARNINGS BEFORE INCOME TAXES 33,907 31,274 99,056 88,677
INCOME TAX EXPENSE (includes $48 and $0 for the three months ended September 30, 2015 and 2014, respectively, and $133 and ($1) for the nine months ended September 30, 2015 and 2014, respectively, related to income tax expense from reclassification items) 8,021 7,843 23,867 21,705
NET EARNINGS $ 25,886 $ 23,431 $ 75,189 $ 66,972
EARNINGS PER SHARE, BASIC $ 0.40 $ 0.37 $ 1.16 $ 1.05
EARNINGS PER SHARE, ASSUMING DILUTION 0.40 0.36 1.16 1.04
DIVIDENDS PER SHARE $ 0.16 $ 0.14 $ 0.46 $ 0.41