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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest and dividend income:        
Loans $ 58,096 $ 50,074 $ 169,468 $ 149,851
Taxable investment securities 1,569 1,537 4,831 4,638
Non-taxable investment securities 1,664 1,444 4,925 4,234
Mortgage-backed securities 3,267 3,079 10,266 9,126
Federal funds sold and other 916 469 2,347 1,381
Total interest and dividend income 65,512 56,603 191,837 169,230
Interest expense:        
Deposits 5,356 4,163 14,836 12,420
Federal Home Loan Bank borrowings 2,657 1,929 7,257 6,021
Junior subordinated debentures 761 591 2,148 1,753
Repurchase agreements and other short-term borrowings 111 49 182 117
Total interest expense 8,885 6,732 24,423 20,311
Net interest income 56,627 49,871 167,414 148,919
Provision/ (credit) for loan losses (432) (138) (6,727) (5,806)
Net interest income after provision/ (credit) for loan losses 57,059 50,009 174,141 154,725
Fees and other income:        
Investment management fees 11,274 10,717 33,194 32,002
Wealth advisory fees 13,279 12,750 39,063 38,013
Wealth management and trust fees 11,619 10,826 33,606 32,950
Other banking fee income 2,726 3,447 6,384 9,662
Gain on sale of loans, net 169 156 366 562
Gain/ (loss) on sale of investments, net 230 273 486 519
Gain/ (loss) on OREO, net 0 137 (46) 417
Other 970 1,706 1,738 704
Total fees and other income 40,267 40,012 114,791 114,829
Operating expense:        
Salaries and employee benefits 45,168 40,924 134,486 124,098
Occupancy and equipment 11,283 9,521 32,711 29,036
Professional services 3,308 2,290 9,728 8,820
Marketing and business development 2,216 1,623 5,847 5,604
Contract services and data processing 1,608 1,865 4,829 5,281
Amortization of intangibles 1,426 1,568 4,278 4,740
FDIC insurance 647 722 2,292 2,757
Restructuring 0 0 0 2,017
Other 3,690 3,157 11,776 10,757
Total operating expense 69,346 61,670 205,947 193,110
Income before income taxes 27,980 28,351 82,985 76,444
Income tax expense 8,289 8,652 24,805 23,716
Net income from continuing operations 19,691 19,699 58,180 52,728
Net income from discontinued operations 1,186 1,047 3,881 4,357
Net income before attrubution to noncontrolling interests 20,877 20,746 62,061 57,085
Less: Net income attributable to noncontrolling interests (1,074) (1,110) (3,190) (3,010)
Net income attributable to the Company 19,803 19,636 58,871 54,075
Adjustments to net income attributable to the Company to arrive at net income attributable to common shareholders (1,146) (1,006) (2,889) (2,265)
Net income attributable to common shareholders for earnings per share calculation $ 18,657 $ 18,630 $ 55,982 $ 51,810
Basic earnings per share attributable to common shareholders:        
From continuing operations: $ 0.21 $ 0.22 $ 0.63 $ 0.58
From discontinued operations: 0.01 0.01 0.05 0.05
Total attributable to common shareholders: 0.23 0.23 0.68 0.64
Diluted earnings per share attributable to common shareholders:        
From continuing operations: 0.21 0.21 0.61 0.57
From discontinued operations: 0.01 0.01 0.05 0.05
Total attributable to common shareholders: $ 0.22 $ 0.22 $ 0.66 $ 0.62
Common Stock [Member]        
Basic earnings per share attributable to common shareholders:        
Weighted average basic common shares outstanding 82,556,225 81,301,499 82,270,849 81,280,014
Diluted earnings per share attributable to common shareholders:        
Weighted average diluted common shares outstanding [1] 84,888,311 83,562,283 84,741,172 83,430,480
[1] The diluted EPS computations for the three and nine months ended September 30, 2017 and 2016 do not assume the conversion, exercise, or contingent issuance of the following shares for the following periods because the result would have been anti-dilutive for the periods indicated. As a result of the anti-dilution, the potential common shares excluded from the diluted EPS computation are as follows: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016Shares excluded due to exercise price exceeding the average market price of common shares during the period (total outstanding):(In thousands)Potential common shares from: Stock options48 224 74 285Total shares excluded due to exercise price exceeding the average market price of common shares during the period48 224 74 285