XML 20 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Loans receivable:      
Taxable $ 342,501 $ 263,704 $ 210,302
Tax exempt 14,862 10,694 6,525
Investment securities:      
Taxable 21,597 17,489 16,415
Tax exempt 25,509 21,379 18,622
Deposits with financial institutions 2,241 736 350
Federal Reserve and Federal Home Loan Bank stock 1,234 894 1,098
Total Interest Income 407,944 314,896 253,312
INTEREST EXPENSE      
Deposits 51,542 23,806 15,914
Federal funds purchased 718 561 102
Securities sold under repurchase agreements 762 477 374
Federal Home Loan Bank advances 7,832 5,196 3,264
Subordinated debentures and term loans 8,233 7,572 7,185
Total Interest Expense 69,087 37,612 26,839
NET INTEREST INCOME 338,857 277,284 226,473
Provision for loan losses 7,227 9,143 5,657
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 331,630 268,141 220,816
OTHER INCOME      
Increase in cash surrender value of life insurance 4,020 3,906 3,630
Gains on life insurance benefits 198 2,671 643
Net gains and fees on sales of loans 7,029 7,564 7,052
Net realized gains on sales of available for sale securities 4,269 2,631 3,389
Other income 5,192 2,970 3,594
Total Other Income 76,459 71,009 65,203
OTHER EXPENSES      
Salaries and employee benefits 131,704 119,812 102,552
Net occupancy 18,341 16,976 16,997
Equipment 14,334 13,090 12,497
Marketing 4,681 3,739 3,008
Outside data processing fees 13,215 12,242 9,148
Printing and office supplies 1,425 1,283 1,348
Intangible asset amortization 6,719 5,647 3,910
FDIC assessments 2,920 2,564 3,036
Other real estate owned and foreclosure expenses 1,470 1,903 2,877
Professional and other outside services 8,176 12,757 6,516
Other expenses 16,966 15,543 15,470
Total Other Expenses 219,951 205,556 177,359
INCOME BEFORE INCOME TAX 188,138 133,594 108,660
Income tax expense 28,999 37,524 27,609
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 159,139 $ 96,070 $ 81,051
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS PER SHARE DATA:      
Basic (in dollars per share) $ 3.23 $ 2.13 $ 1.99
Diluted (in dollars per share) $ 3.22 $ 2.12 $ 1.98
Service charges on deposit accounts      
OTHER INCOME      
OTHER INCOME $ 20,950 $ 18,722 $ 17,762
Fiduciary activities      
OTHER INCOME      
OTHER INCOME 14,906 14,682 12,591
Other customer fees      
OTHER INCOME      
OTHER INCOME $ 19,895 $ 17,863 $ 16,542