XML 25 R4.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Interest and fees on loans $ 120.0 $ 103.9 $ 352.3 $ 292.1
Interest and dividends on investment securities:        
Taxable 15.1 13.9 45.9 41.0
Exempt from federal taxes 0.5 0.6 1.5 1.8
Interest on deposits in banks 5.7 2.8 14.3 6.9
Total interest income 141.3 121.2 414.0 341.8
Interest expense:        
Interest on deposits 13.4 8.9 39.6 22.3
Interest on securities sold under repurchase agreements 1.0 0.7 3.1 1.8
Interest on other borrowed funds 0.0 0.1 0.0 0.2
Interest on other debt 0.3 0.4 1.0 0.9
Interest on subordinated debentures held by subsidiary trusts 1.1 1.1 3.5 3.0
Total interest expense 15.8 11.2 47.2 28.2
Net interest income 125.5 110.0 366.8 313.6
Provision for loan losses 2.6 2.0 10.1 7.0
Net interest income after provision for loan losses 122.9 108.0 356.7 306.6
Non-interest income:        
Mortgage banking revenues 10.5 6.7 24.3 19.3
Investment securities gains (losses), net 0.1 0.0 0.1 0.0
Other income 4.0 4.5 13.4 11.0
Total non-interest income 40.8 36.2 114.7 109.0
Non-interest expense:        
Salaries and wages 40.6 36.8 117.1 105.7
Employee benefits 11.9 11.9 40.3 35.5
Outsourced technology services 7.9 6.8 23.9 20.9
Occupancy, net 7.1 6.5 21.2 18.8
Furniture and equipment 3.3 3.5 10.2 9.5
OREO expense, net of income (0.8) 0.2 (0.5) 0.3
Professional fees 3.5 1.9 7.7 5.2
FDIC insurance premiums 0.4 1.4 3.5 4.3
Mortgage servicing rights amortization 1.2 0.8 3.1 2.3
Core deposit intangibles amortization 3.0 2.0 8.3 5.5
Other expenses 17.4 15.8 50.8 48.1
Acquisition related expenses 3.8 3.1 19.6 5.4
Total non-interest expense 99.3 90.7 305.2 261.5
Income before income tax expense 64.4 53.5 166.2 154.1
Income tax expense 15.3 12.1 37.6 34.3
Net income $ 49.1 $ 41.4 $ 128.6 $ 119.8
Earnings per common share, basic (in dollars per share) $ 0.76 $ 0.71 $ 2.03 $ 2.10
Earnings per common share, diluted (in dollars per share) $ 0.76 $ 0.71 $ 2.03 $ 2.09
Weighted average common shares outstanding, basic (in shares) 64,832,324 58,254,575 63,232,575 56,951,029
Weighted average common shares outstanding, diluted (in shares) 65,043,486 58,640,475 63,471,283 57,330,027
Payment services revenues        
Non-interest income:        
Revenue from Contract with Customer, Excluding Assessed Tax $ 10.8 $ 10.1 $ 30.7 $ 33.5
Wealth management revenues        
Non-interest income:        
Wealth management revenues 5.9 5.8 17.8 17.5
Service charges on deposit accounts        
Non-interest income:        
Revenue from Contract with Customer, Excluding Assessed Tax 5.3 5.7 15.7 16.6
Other service charges, commissions and fees        
Non-interest income:        
Revenue from Contract with Customer, Excluding Assessed Tax $ 4.2 $ 3.4 $ 12.7 $ 11.1