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Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest Income        
Residential real estate loans $ 7,942 $ 7,220 $ 15,703 $ 14,307
Commercial loans 40,698 35,267 79,720 70,309
Consumer and other loans 8,018 7,583 15,762 15,226
Investment securities 21,959 23,893 44,918 48,208
Total interest income 78,617 73,963 156,103 148,050
Interest Expense        
Deposits 4,112 3,061 8,259 6,150
Securities sold under agreements to repurchase 232 192 473 402
Federal Home Loan Bank advances 2,217 2,447 4,412 4,961
Other borrowed funds 15 48 42 101
Subordinated debentures 793 780 1,565 1,554
Total interest expense 7,369 6,528 14,751 13,168
Net Interest Income 71,248 67,435 141,352 134,882
Provision for loan losses 282 239 1,047 1,361
Net interest income after provision for loan losses 70,966 67,196 140,305 133,521
Non-Interest Income        
Service charges and other fees 14,303 13,547 27,302 25,766
Miscellaneous loan fees and charges 1,142 1,200 2,299 2,229
Gain on sale of loans 7,600 4,778 13,030 8,373
Loss on sale of investments (98) (48) (93) (99)
Other income 2,855 3,027 5,957 5,623
Total non-interest income 25,802 22,504 48,495 41,892
Non-Interest Expense        
Compensation and employee benefits 32,729 28,988 64,973 57,622
Occupancy and equipment 7,810 6,733 15,172 13,346
Advertising and promotions 2,240 1,948 4,167 3,725
Data processing 1,593 2,032 2,842 3,320
Other real estate owned 1,377 566 2,135 1,073
Regulatory assessments and insurance 1,006 1,028 2,311 2,620
Core deposit intangibles amortization 755 693 1,486 1,403
Other expenses 12,435 10,685 22,356 19,634
Total non-interest expense 59,945 52,673 115,442 102,743
Income Before Income Taxes 36,823 37,027 73,358 72,670
Federal and state income tax expense 7,488 8,350 16,353 17,263
Net Income $ 29,335 $ 28,677 $ 57,005 $ 55,407
Basic earnings per share $ 0.39 $ 0.38 $ 0.76 $ 0.74
Diluted earnings per share 0.39 0.38 0.76 0.74
Dividends declared per share $ 0.19 $ 0.17 $ 0.37 $ 0.33
Average outstanding shares - basic 75,530,591 74,467,576 75,369,366 74,452,568
Average outstanding shares - diluted 75,565,655 74,499,660 75,407,621 74,491,459