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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Interest income:        
Interest and fees on loans $ 61,007 $ 54,901 $ 170,290 $ 165,247
Interest and dividends on investment securities:        
Taxable 7,259 7,660 22,208 23,377
Exempt from federal taxes 1,085 1,153 3,265 3,594
Interest on deposits in banks 374 207 830 717
Interest on federal funds sold 3 8 7 17
Total interest income 69,728 63,929 196,600 192,952
Interest expense:        
Interest on deposits 3,487 3,821 10,238 12,214
Interest on securities sold under repurchase agreements 52 58 181 232
Interest on other borrowed funds 27 0 27 0
Interest on long-term debt 482 487 1,431 1,450
Interest on preferred stock pending redemption 0 0 0 159
Interest on subordinated debentures held by subsidiary trusts 598 607 1,778 1,904
Total interest expense 4,646 4,973 13,655 15,959
Net interest income 65,082 58,956 182,945 176,993
Provision for loan losses 261 (3,000) (6,740) (2,125)
Net interest income after provision for loan losses 64,821 61,956 189,685 179,118
Non-interest income:        
Other service charges, commissions and fees 10,458 9,286 29,313 26,519
Income from the origination and sale of loans 7,346 7,934 18,386 28,652
Investment Advisory, Management and Administrative Fees 5,157 4,581 14,221 12,735
Service charges on deposit accounts 4,331 4,360 12,135 12,751
Investment securities gains, net (8) 30 80 26
Other income 2,079 1,416 5,905 5,322
Total non-interest income 29,363 27,607 80,040 86,005
Non-interest expense:        
Salaries and wages 25,914 22,806 72,796 69,681
Employee benefits 7,841 7,328 23,318 23,049
Occupancy, net 4,534 4,292 13,026 12,381
Furniture and equipment 3,338 3,147 9,696 9,362
Outsourced technology services 2,346 2,295 6,955 6,647
OREO expense, net of income (58) 18 (211) 999
Professional fees 1,233 1,135 3,881 3,398
FDIC insurance premiums 1,172 1,205 3,381 3,938
Mortgage servicing rights amortization 591 629 1,774 2,187
Mortgage servicing rights impairment recovery (61) (62) (117) (121)
Core deposit intangibles amortization 688 355 1,396 1,064
Other expenses 12,368 9,431 33,672 31,699
Non-core acquisition expenses 5,052 0 5,649 0
Total non-interest expense 64,958 52,579 175,216 164,284
Income before income tax expense 29,226 36,984 94,509 100,839
Income tax expense 10,071 13,172 32,884 35,478
Net income $ 19,155 $ 23,812 $ 61,625 $ 65,361
Basic earnings per common share $ 0.43 $ 0.54 $ 1.39 $ 1.50
Diluted earnings per common share $ 0.42 $ 0.54 $ 1.37 $ 1.49