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CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Loans receivable:        
Taxable $ 46,037 $ 43,981 $ 134,908 $ 128,329
Tax exempt 1,190 61 2,174 180
Investment securities:        
Taxable 4,374 5,046 13,522 14,902
Tax exempt 4,412 3,683 12,478 10,691
Deposits with financial institutions 25 18 93 76
Federal Reserve and Federal Home Loan Bank stock 500 501 1,509 1,648
Total Interest Income 56,538 53,290 164,684 155,826
INTEREST EXPENSE        
Deposits 3,715 2,853 10,917 8,276
Federal funds purchased 27 102 69 174
Securities sold under repurchase agreements 96 74 264 457
Federal Home Loan Bank advances 711 734 2,108 2,092
Subordinated debentures and term loans 1,666 1,661 4,996 4,950
Total Interest Expense 6,215 5,424 18,354 15,949
NET INTEREST INCOME $ 50,323 47,866 146,330 139,877
Provision for loan losses 1,600 417 1,600
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES $ 50,323 46,266 145,913 138,277
OTHER INCOME        
Service charges on deposit accounts 4,445 4,119 12,083 11,768
Fiduciary activities 2,242 2,152 7,058 6,724
Other customer fees 4,156 3,991 12,425 11,773
Commission income 4 1,723 4,147 5,877
Earnings on cash surrender value of life insurance 710 1,524 2,097 2,925
Net gains and fees on sales of loans 1,905 1,458 5,175 3,340
Net realized gains on sales of available for sale securities $ 1,115 $ 910 2,047 $ 2,335
Gain on sale of insurance subsidiary 8,265
Other income $ 2,322 $ 2,535 4,467 $ 5,283
Total Other Income 16,899 18,412 57,764 50,025
OTHER EXPENSES        
Salaries and employee benefits 25,137 24,173 76,112 72,904
Net occupancy 3,726 3,401 11,019 10,543
Equipment 2,698 2,187 8,104 7,022
Marketing 847 1,070 2,578 2,628
Outside data processing fees 1,992 1,853 5,477 5,723
Printing and office supplies 343 350 1,010 1,201
Core deposit amortization 693 592 2,143 1,776
FDIC assessments 958 920 2,716 2,843
Other real estate owned and foreclosure expenses 1,835 2,618 4,436 6,988
Professional and other outside services 1,686 1,573 6,311 4,483
Other expenses 3,683 3,839 11,317 10,804
Total Other Expenses 43,598 42,576 131,223 126,915
INCOME BEFORE INCOME TAX 23,624 22,102 72,454 61,387
Income tax expense 6,557 5,980 21,247 16,485
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 17,067 $ 16,122 $ 51,207 $ 44,902
Per Share Data:        
Basic Net Income Available to Common Stockholders (in dollars per share) $ 0.46 $ 0.45 $ 1.36 $ 1.25
Diluted Net Income Available to Common Stockholders (in dollars per share) 0.45 0.45 1.35 1.24
Cash Dividends Paid (in dollars per share) $ 0.11 $ 0.08 $ 0.3 $ 0.21
Average Diluted Shares Outstanding (in shares) 38,118,199 36,328,981 38,053,986 36,295,386