XML 14 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income:        
Interest and fees on loans $ 62,634 $ 60,402 $ 125,450 $ 119,773
Interest and dividends on investment securities:        
Taxable 7,982 8,000 16,020 15,971
Exempt from federal taxes 858 1,040 1,737 2,099
Interest on deposits in banks 482 271 1,127 660
Interest on federal funds sold 3 5 5 7
Total interest income 71,959 69,718 144,339 138,510
Interest expense:        
Interest on deposits 3,108 3,239 6,336 6,548
Interest on securities sold under repurchase agreements 92 53 182 107
Interest on long-term debt 451 538 900 1,052
Interest on subordinated debentures held by subsidiary trusts 675 600 1,338 1,190
Total interest expense 4,326 4,430 8,756 8,897
Net interest income 67,633 65,288 135,583 129,613
Provision for loan losses 2,550 1,340 6,550 2,435
Net interest income after provision for loan losses 65,083 63,948 129,033 127,178
Non-interest income:        
Payment services revenues 8,648 8,437 16,639 15,809
Income from the origination and sale of loans 9,409 8,802 15,550 14,708
Investment Advisory, Management and Administrative Fees 5,166 4,897 9,741 9,834
Service charges on deposit accounts 4,626 4,053 9,089 7,997
Other service charges, commissions and fees 2,845 2,736 5,453 5,231
Investment securities gains, net 108 46 87 52
Other income 2,457 2,792 4,750 6,050
Non-recurring litigation recovery 3,750 0 3,750 0
Total non-interest income 37,009 31,763 65,059 59,681
Non-interest expense:        
Salaries and wages 26,707 26,093 51,389 51,442
Employee benefits 8,066 8,063 17,675 15,979
Outsourced technology services 4,800 2,593 9,632 5,056
Occupancy, net 4,284 4,529 8,948 9,021
Furniture and equipment 2,460 3,703 4,716 7,496
OREO expense, net of income 140 (823) 101 (884)
Professional fees 1,136 1,514 2,444 2,815
FDIC insurance premiums 1,198 1,304 2,456 2,446
Mortgage servicing rights amortization 722 627 1,356 1,246
Mortgage servicing rights impairment recovery (20) (56) (5) (71)
Core deposit intangibles amortization 827 854 1,654 1,709
Other expenses 12,575 13,577 24,198 25,381
Non-core acquisition expenses 0 (7) 0 63
Total non-interest expense 62,895 61,971 124,564 121,699
Income before income tax expense 39,197 33,740 69,528 65,160
Income tax expense 13,643 11,518 23,850 21,958
Net income $ 25,554 $ 22,222 $ 45,678 $ 43,202
Basic earnings per common share $ 0.58 $ 0.49 $ 1.03 $ 0.95
Diluted earnings per common share $ 0.57 $ 0.49 $ 1.02 $ 0.94