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CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Loans receivable:        
Taxable $ 88,479 $ 71,491 $ 251,409 $ 187,234
Tax exempt 3,761 2,851 10,989 7,676
Investment securities:        
Taxable 5,514 4,524 16,044 13,012
Tax exempt 6,493 5,455 18,865 15,549
Deposits with financial institutions 270 284 1,034 442
Federal Home Loan Bank stock 283 242 950 635
Total Interest Income 104,800 84,847 299,291 224,548
INTEREST EXPENSE        
Deposits 13,685 6,710 34,852 15,971
Federal funds purchased 229 175 670 506
Securities sold under repurchase agreements 174 133 519 331
Federal Home Loan Bank advances 2,137 1,464 6,141 3,619
Subordinated debentures and term loans 2,089 1,945 6,136 5,602
Total Interest Expense 18,314 10,427 48,318 26,029
NET INTEREST INCOME 86,486 74,420 250,973 198,519
Provision for loan losses 1,400 2,083 5,563 7,343
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 85,086 72,337 245,410 191,176
OTHER INCOME        
Increase in cash surrender value of life insurance 961 1,058 2,946 2,773
Gains on life insurance benefits 0 517 198 2,671
Net gains and fees on sales of loans 1,841 2,317 5,262 5,209
Net realized gains on sales of available for sale securities 1,285 332 4,016 1,497
Other income 1,110 1,064 3,368 2,288
Total Other Income 19,527 18,668 57,279 51,948
OTHER EXPENSES        
Salaries and employee benefits 32,936 33,244 97,354 86,052
Net occupancy 4,586 4,371 13,604 12,552
Equipment 3,483 3,478 10,707 9,192
Marketing 1,216 1,021 3,574 2,378
Outside data processing fees 3,422 3,162 9,848 8,864
Printing and office supplies 334 366 992 905
Intangible asset amortization 1,650 1,698 5,094 3,592
FDIC assessments 856 704 2,286 1,853
Other real estate owned and foreclosure expenses 455 330 1,219 1,592
Professional and other outside services 1,844 5,843 5,174 10,843
Other expenses 4,240 4,491 12,361 11,300
Total Other Expenses 55,022 58,708 162,213 149,123
INCOME BEFORE INCOME TAX 49,591 32,297 140,476 94,001
Income tax expense 8,478 7,939 23,050 22,314
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 41,113 $ 24,358 $ 117,426 $ 71,687
Per Share Data:        
Basic Net Income Available to Common Stockholders (in dollars per share) $ 0.83 $ 0.50 $ 2.38 $ 1.64
Diluted Net Income Available to Common Stockholders (in dollars per share) 0.83 0.50 2.37 1.63
Cash Dividends Paid (in dollars per share) $ 0.22 $ 0.18 $ 0.62 $ 0.51
Average Diluted Shares Outstanding (in shares) 49,492,019 48,643,774 49,458,185 44,063,219
Service charges on deposit accounts        
OTHER INCOME        
Other income $ 5,619 $ 5,044 $ 15,434 $ 13,656
Fiduciary and wealth management fees        
OTHER INCOME        
Other income 3,673 3,783 11,064 10,556
Other customer fees        
OTHER INCOME        
Other income $ 5,038 $ 4,553 $ 14,991 $ 13,298