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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income:        
Interest and fees on loans $ 73,895 $ 62,634 $ 137,624 $ 125,450
Interest and dividends on investment securities:        
Taxable 9,783 7,982 18,505 16,020
Exempt from federal taxes 855 858 1,647 1,737
Interest on deposits in banks 1,333 482 2,545 1,127
Interest on federal funds sold 3 3 5 5
Total interest income 85,869 71,959 160,326 144,339
Interest expense:        
Interest on deposits 5,011 3,108 9,129 6,336
Interest on securities sold under repurchase agreements 272 92 520 182
Interest on long-term debt 481 451 934 900
Interest on subordinated debentures held by subsidiary trusts 782 675 1,527 1,338
Total interest expense 6,546 4,326 12,110 8,756
Net interest income 79,323 67,633 148,216 135,583
Provision for loan losses 2,355 2,550 4,085 6,550
Net interest income after provision for loan losses 76,968 65,083 144,131 129,033
Non-interest income:        
Payment services revenues 10,225 8,648 18,670 16,639
Income from the origination and sale of loans 7,643 9,409 14,191 15,550
Investment Advisory, Management and Administrative Fees 5,084 5,166 10,097 9,741
Service charges on deposit accounts 5,060 4,626 9,410 9,089
Other service charges, commissions and fees 3,358 2,845 6,034 5,453
Investment securities gains, net 5 108 7 87
Other income 5,805 2,457 7,878 4,750
Non-recurring litigation recovery 0 3,750 0 3,750
Total non-interest income 37,180 37,009 66,287 65,059
Non-interest expense:        
Salaries and wages 28,037 26,707 53,778 51,389
Employee benefits 9,811 8,066 19,427 17,675
Outsourced technology services 6,000 4,800 11,300 9,632
Occupancy, net 5,180 4,284 9,969 8,948
Furniture and equipment 2,739 2,460 5,012 4,716
OREO expense, net of income 34 140 (14) 101
Professional fees 1,795 1,136 2,824 2,444
FDIC insurance premiums 786 1,198 1,661 2,456
Mortgage servicing rights amortization 707 722 1,319 1,356
Mortgage servicing rights impairment recovery (2) (20) (72) (5)
Core deposit intangibles amortization 1,062 827 1,692 1,654
Other expenses 14,117 12,575 26,358 24,198
Non-core acquisition expenses 10,133 0 10,838 0
Total non-interest expense 80,399 62,895 144,092 124,564
Income before income tax expense 33,749 39,197 66,326 69,528
Income tax expense 11,881 13,643 21,332 23,850
Net income $ 21,868 $ 25,554 $ 44,994 $ 45,678
Basic earnings per common share $ 0.46 $ 0.58 $ 0.97 $ 1.03
Diluted earnings per common share $ 0.45 $ 0.57 $ 0.96 $ 1.02