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Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest Income        
Investment securities $ 21,379 $ 23,037 $ 43,318 $ 46,920
Residential real estate loans 8,350 8,124 16,268 16,409
Commercial loans 56,182 47,002 106,152 91,505
Consumer and other loans 8,121 7,906 15,922 15,616
Total interest income 94,032 86,069 181,660 170,450
Interest Expense        
Deposits 4,501 4,560 8,941 9,355
Securities sold under agreements to repurchase 443 275 825 593
Federal Home Loan Bank advances 1,734 1,665 3,244 3,317
Other borrowed funds 19 14 34 32
Subordinated debentures 1,077 910 2,096 1,802
Total interest expense 7,774 7,424 15,140 15,099
Net Interest Income 86,258 78,645 166,520 155,351
Provision for loan losses 3,013 0 4,611 568
Net interest income after provision for loan losses 83,245 78,645 161,909 154,783
Non-Interest Income        
Service charges and other fees 17,495 15,772 33,128 30,453
Miscellaneous loan fees and charges 1,092 1,163 2,072 2,184
Gain on sale of loans 7,532 8,257 13,890 14,249
Loss on sale of investments (522) (220) (622) (112)
Other income 2,059 1,787 4,877 4,237
Total non-interest income 27,656 26,759 53,345 51,011
Non-Interest Expense        
Compensation and employee benefits 39,498 37,560 78,744 74,501
Occupancy and equipment 6,560 6,443 13,206 13,119
Advertising and promotions 2,169 2,085 4,142 4,210
Data processing 3,411 3,938 6,535 7,311
Other real estate owned 442 214 715 604
Regulatory assessments and insurance 1,087 1,066 2,148 2,574
Core deposit intangibles amortization 639 788 1,240 1,585
Other expenses 11,503 12,367 21,923 22,913
Total non-interest expense 65,309 64,461 128,653 126,817
Income Before Income Taxes 45,592 40,943 86,601 78,977
Federal and state income tax expense 11,905 10,492 21,659 19,844
Net Income $ 33,687 $ 30,451 $ 64,942 $ 59,133
Basic earnings per share $ 0.43 $ 0.40 $ 0.84 $ 0.78
Diluted earnings per share 0.43 0.40 0.84 0.78
Dividends declared per share $ 0.21 $ 0.20 $ 0.42 $ 0.40
Average outstanding shares - basic 77,546,236 76,170,734 77,061,867 76,148,493
Average outstanding shares - diluted 77,592,325 76,205,069 77,125,677 76,191,655