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Consolidated Statements of Earnings - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST INCOME:        
Interest and fees on loans $ 65,932 $ 55,740 $ 128,927 $ 108,971
Interest on investment securities:        
Taxable 14,029 13,925 28,684 27,213
Exempt from federal income tax 12,149 9,244 21,844 19,007
Interest on federal funds sold and interest-bearing deposits in banks 87 667 842 1,286
Total interest income 92,197 79,576 180,297 156,477
INTEREST EXPENSE:        
Interest on deposits 2,550 7,286 9,230 13,947
Other 412 675 929 1,401
Total interest expense 2,962 7,961 10,159 15,348
Net interest income 89,235 71,615 170,138 141,129
PROVISION FOR LOAN LOSSES 8,700 600 18,550 1,565
Net interest income after provision for loan losses 80,535 71,015 151,588 139,564
NONINTEREST INCOME:        
Trust fees 6,961 7,027 14,398 14,006
Service charges on deposit accounts 4,318 5,374 10,233 10,550
ATM, interchange and credit card fees 8,049 7,352 15,449 14,192
Gain on sale and fees on mortgage loans 13,676 4,721 17,528 8,195
Net gain on sale of available-for-sale securities (includes $1,512 and $676 for the three months ended June 30, 2020 and 2019, respectively, and $3,574 and $676 for the six months ended June 30, 2020 and 2019, respectively, related to accumulated other comprehensive earnings reclassifications) 1,512 676 3,574 676
Net gain on sale of foreclosed assets 52 53 53 122
Net gain (loss) on sale of assets (24) 6 92 6
Interest on loan recoveries 154 903 419 1,241
Other 2,221 1,864 3,905 3,425
Total noninterest income 36,919 27,976 65,651 52,413
NONINTEREST EXPENSE:        
Salaries, commissions and employee benefits 30,814 27,394 60,456 53,918
Loss from partial settlement of pension plan 0 0 0 900
Net occupancy expense 3,101 2,779 6,128 5,542
Equipment expense 2,010 2,331 4,085 4,784
FDIC insurance premiums 463 538 508 1,076
ATM, interchange and credit card expenses 2,610 2,427 5,595 4,810
Professional and service fees 2,497 1,987 5,090 3,820
Printing, stationery and supplies 533 502 1,099 868
Operational and other losses 728 480 1,304 746
Software amortization and expense 2,010 1,783 4,034 3,380
Amortization of intangible assets 508 264 1,017 532
Other 8,047 7,819 19,324 15,297
Total noninterest expense 53,321 48,304 108,640 95,673
EARNINGS BEFORE INCOME TAXES 64,133 50,687 108,599 96,304
INCOME TAX EXPENSE (includes $318 and $142 for the three months ended June 30, 2020 and 2019, respectively, and $751 and $142 for the six months ended June 30, 2020 and 2019, respectively, related to income tax expense from reclassification items) 10,663 8,594 17,898 15,959
NET EARNINGS $ 53,470 $ 42,093 $ 90,701 $ 80,345
EARNINGS PER SHARE, BASIC $ 0.38 $ 0.31 $ 0.64 $ 0.59
EARNINGS PER SHARE, DILUTED 0.38 0.31 0.64 0.59
DIVIDENDS PER SHARE $ 0.13 $ 0.12 $ 0.25 $ 0.23