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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income:        
Interest and fees on loans $ 60,402 $ 55,565 $ 119,773 $ 109,283
Interest and dividends on investment securities:        
Taxable 8,000 7,309 15,971 14,949
Exempt from federal taxes 1,040 1,083 2,099 2,180
Interest on deposits in banks 271 225 660 456
Interest on federal funds sold 5 3 7 4
Total interest income 69,718 64,185 138,510 126,872
Interest expense:        
Interest on deposits 3,239 3,327 6,548 6,751
Interest on securities sold under repurchase agreements 53 63 107 129
Interest on long-term debt 538 476 1,052 949
Interest on subordinated debentures held by subsidiary trusts 600 592 1,190 1,180
Total interest expense 4,430 4,458 8,897 9,009
Net interest income 65,288 59,727 129,613 117,863
Provision for loan losses 1,340 (2,001) 2,435 (7,001)
Net interest income after provision for loan losses 63,948 61,728 127,178 124,864
Non-interest income:        
Other service charges, commissions and fees 11,173 9,699 21,040 18,855
Income from the origination and sale of loans 8,802 6,380 14,708 11,040
Investment Advisory, Management and Administrative Fees 4,897 4,609 9,834 9,064
Service charges on deposit accounts 4,053 3,929 7,997 7,804
Investment securities gains, net 46 17 52 88
Other income 2,799 1,937 5,921 3,826
Total non-interest income 31,770 26,571 59,552 50,677
Non-interest expense:        
Salaries and wages 26,093 24,440 51,442 46,882
Employee benefits 8,070 7,164 15,850 15,477
Occupancy, net 4,529 4,253 9,021 8,492
Furniture and equipment 3,703 3,157 7,496 6,358
Outsourced technology services 2,593 2,309 5,056 4,609
OREO expense, net of income (823) (134) (884) (153)
Professional fees 1,514 1,278 2,815 2,648
FDIC insurance premiums 1,304 1,093 2,446 2,209
Mortgage servicing rights amortization 627 583 1,246 1,183
Mortgage servicing rights impairment recovery (56) (11) (71) (56)
Core deposit intangibles amortization 854 354 1,709 708
Other expenses 13,577 10,837 25,381 21,304
Non-core acquisition expenses (7) 597 63 597
Total non-interest expense 61,978 55,920 121,570 110,258
Income before income tax expense 33,740 32,379 65,160 65,283
Income tax expense 11,518 11,302 21,958 22,813
Net income $ 22,222 $ 21,077 $ 43,202 $ 42,470
Basic earnings per common share $ 0.49 $ 0.48 $ 0.95 $ 0.96
Diluted earnings per common share $ 0.49 $ 0.47 $ 0.94 $ 0.95