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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest income:        
Interest and fees on loans $ 62,062 $ 61,007 $ 181,835 $ 170,290
Interest and dividends on investment securities:        
Taxable 7,410 7,259 23,381 22,208
Exempt from federal taxes 962 1,085 3,061 3,265
Interest on deposits in banks 342 374 1,002 830
Interest on federal funds sold 4 3 11 7
Total interest income 70,780 69,728 209,290 196,600
Interest expense:        
Interest on deposits 3,241 3,487 9,789 10,238
Interest on securities sold under repurchase agreements 55 52 162 181
Interest on other borrowed funds 0 27 0 27
Interest on long-term debt 544 482 1,596 1,431
Interest on subordinated debentures held by subsidiary trusts 610 598 1,800 1,778
Total interest expense 4,450 4,646 13,347 13,655
Net interest income 66,330 65,082 195,943 182,945
Provision for loan losses 1,098 261 3,533 (6,740)
Net interest income after provision for loan losses 65,232 64,821 192,410 189,685
Non-interest income:        
Other service charges, commissions and fees 11,095 10,458 32,135 29,313
Income from the origination and sale of loans 7,983 7,346 22,691 18,386
Investment Advisory, Management and Administrative Fees 5,233 5,157 15,067 14,221
Service charges on deposit accounts 4,379 4,331 12,376 12,135
Investment securities gains, net 23 (8) 75 80
Other income 1,769 2,079 7,690 5,905
Total non-interest income 30,482 29,363 90,034 80,040
Non-interest expense:        
Salaries and wages 25,460 25,914 76,902 72,796
Employee benefits 7,312 7,841 23,162 23,318
Occupancy, net 4,413 4,534 13,434 13,026
Furniture and equipment 3,849 3,338 11,345 9,696
Outsourced technology services 2,520 2,346 7,576 6,955
OREO expense, net of income (720) (58) (1,604) (211)
Professional fees 1,916 1,233 4,731 3,881
FDIC insurance premiums 1,190 1,172 3,636 3,381
Mortgage servicing rights amortization 617 591 1,863 1,774
Mortgage servicing rights impairment recovery (76) (61) (147) (117)
Core deposit intangibles amortization 842 688 2,551 1,396
Other expenses 12,613 12,368 37,994 33,672
Loss contingency expenses 5,000 4,000 5,000 4,000
Non-core acquisition expenses 566 1,052 629 1,649
Total non-interest expense 65,502 64,958 187,072 175,216
Income before income tax expense 30,212 29,226 95,372 94,509
Income tax expense 10,050 10,071 32,008 32,884
Net income $ 20,162 $ 19,155 $ 63,364 $ 61,625
Basic earnings per common share $ 0.45 $ 0.43 $ 1.40 $ 1.39
Diluted earnings per common share $ 0.44 $ 0.42 $ 1.39 $ 1.37