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Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest Income        
Investment securities $ 21,827 $ 22,437 $ 68,747 $ 67,355
Residential real estate loans 8,538 7,878 24,947 23,581
Commercial loans 47,694 42,137 139,199 121,857
Consumer and other loans 7,885 7,915 23,501 23,677
Total interest income 85,944 80,367 256,394 236,470
Interest Expense        
Deposits 4,550 3,947 13,905 12,206
Securities sold under agreements to repurchase 289 261 882 734
Federal Home Loan Bank advances 1,527 2,273 4,844 6,685
Other borrowed funds 17 21 49 63
Subordinated debentures 935 807 2,737 2,372
Total interest expense 7,318 7,309 22,417 22,060
Net Interest Income 78,626 73,058 233,977 214,410
Provision for loan losses 626 826 1,194 1,873
Net interest income after provision for loan losses 78,000 72,232 232,783 212,537
Non-Interest Income        
Service charges and other fees 16,307 15,357 46,760 43,868
Miscellaneous loan fees and charges 1,195 1,055 3,379 3,354
Gain on sale of loans 9,592 7,326 23,841 20,356
Loss on sale of investments (594) (31) (706) (124)
Other income 1,793 2,092 6,030 6,840
Total non-interest income 28,293 25,799 79,304 74,294
Non-Interest Expense        
Compensation and employee benefits 38,370 33,534 112,871 98,507
Occupancy and equipment 6,168 6,435 19,287 18,927
Advertising and promotions 2,098 2,459 6,308 6,626
Data processing 4,080 2,710 11,391 8,232
Other real estate owned 215 1,047 819 3,182
Regulatory assessments and insurance 1,158 1,478 3,732 3,789
Core deposit intangibles amortization 777 720 2,362 2,206
Other expenses 12,314 10,729 35,227 33,085
Total non-interest expense 65,180 59,112 191,997 174,554
Income Before Income Taxes 41,113 38,919 120,090 112,277
Federal and state income tax expense 10,156 9,305 30,000 25,658
Net Income $ 30,957 $ 29,614 $ 90,090 $ 86,619
Basic earnings per share $ 0.40 $ 0.39 $ 1.18 $ 1.15
Diluted earnings per share 0.40 0.39 1.18 1.15
Dividends declared per share $ 0.20 $ 0.19 $ 0.60 $ 0.56
Average outstanding shares - basic 76,288,640 75,531,923 76,195,550 75,424,147
Average outstanding shares - diluted 76,350,873 75,586,453 76,247,051 75,469,355