XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
INTEREST INCOME        
Interest and fees on loans $ 52,739 $ 55,142 $ 160,000 $ 164,754
Interest on investment securities:        
Taxable interest income 4,958 5,130 15,203 14,859
Tax-exempt interest income 189 212 470 820
Other, principally overnight investments 802 1,898 2,688 6,705
Total interest income 58,688 62,382 178,361 187,138
INTEREST EXPENSE        
Savings, checking and money market accounts 1,440 2,560 5,132 6,904
Time deposits of $100,000 or more 1,747 3,519 6,994 10,219
Other time deposits 346 518 1,254 1,375
Borrowings 422 2,007 2,865 7,092
Total interest expense 3,955 8,604 16,245 25,590
Net interest income 54,733 53,778 162,116 161,548
Provision for loan losses 6,120 (1,105) 31,008 (913)
Net interest income after provision for loan losses 48,613 54,883 131,108 162,461
NONINTEREST INCOME        
Service charges on deposit accounts 2,567 3,388 8,193 9,543
Other service charges, commissions and fees 6,190 5,067 14,883 14,623
Fees from presold mortgage loans 4,864 1,275 9,725 2,677
Commissions from sales of insurance and financial products 2,357 2,203 6,515 6,436
SBA consulting fees 1,956 663 6,722 2,847
SBA loan sale gains 2,929 1,917 5,541 7,048
Bank-owned life insurance income 633 651 1,904 1,928
Securities gains (losses), net 0 97 8,024 97
Other gains (losses), net (44) (105) (157) (331)
Total noninterest income 21,452 15,156 61,350 44,868
NONINTEREST EXPENSES        
Salaries expense 22,127 19,833 62,843 58,530
Employee benefits expense 3,918 4,144 12,312 13,150
Total personnel expense 26,045 23,977 75,155 71,680
Occupancy expense 2,856 2,786 8,538 8,269
Equipment related expenses 1,049 1,231 3,214 3,783
Merger and acquisition expenses 0 0 0 213
Intangibles amortization expense 928 1,163 2,961 3,737
Foreclosed property losses, net 90 273 284 899
Other operating expenses 9,471 9,016 29,264 28,723
Total noninterest expenses 40,439 38,446 119,416 117,304
Income before income taxes 29,626 31,593 73,042 90,025
Income tax expense 6,329 6,574 15,213 18,862
Net income $ 23,297 $ 25,019 $ 57,829 $ 71,163
Earnings per common share:        
Basic (in dollars per share) $ 0.81 $ 0.84 $ 1.99 $ 2.39
Diluted (in dollars per share) 0.81 0.84 1.99 2.39
Dividends declared per common share (in dollars per share) $ 0.18 $ 0.12 $ 0.54 $ 0.36
Weighted average common shares outstanding:        
Basic (in shares) 28,857,111 29,542,001 28,962,576 29,585,383
Diluted (in shares) 28,940,018 29,684,105 29,102,953 29,759,459