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Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest Income        
Investment securities $ 19,987 $ 21,827 $ 63,305 $ 68,747
Residential real estate loans 8,326 8,538 24,594 24,947
Commercial loans 59,875 47,694 166,027 139,199
Consumer and other loans 8,276 7,885 24,198 23,501
Total interest income 96,464 85,944 278,124 256,394
Interest Expense        
Deposits 4,564 4,550 13,505 13,905
Securities sold under agreements to repurchase 537 289 1,362 882
Federal Home Loan Bank advances 1,398 1,527 4,642 4,844
Other borrowed funds 21 17 55 49
Subordinated debentures 1,132 935 3,228 2,737
Total interest expense 7,652 7,318 22,792 22,417
Net Interest Income 88,812 78,626 255,332 233,977
Provision for loan losses 3,327 626 7,938 1,194
Net interest income after provision for loan losses 85,485 78,000 247,394 232,783
Non-Interest Income        
Service charges and other fees 17,307 16,307 50,435 46,760
Miscellaneous loan fees and charges 1,211 1,195 3,283 3,379
Gain on sale of loans 9,141 9,592 23,031 23,841
Gain (loss) on sale of investments 77 (594) (545) (706)
Other income 3,449 1,793 8,326 6,030
Total non-interest income 31,185 28,293 84,530 79,304
Non-Interest Expense        
Compensation and employee benefits 41,297 38,370 120,041 112,871
Occupancy and equipment 6,500 6,168 19,706 19,287
Advertising and promotions 2,239 2,098 6,381 6,308
Data processing 3,647 3,982 10,180 10,982
Other real estate owned 817 215 1,532 819
Regulatory assessments and insurance 1,214 1,158 3,362 3,732
Core deposit intangibles amortization 640 777 1,880 2,362
Other expenses 12,198 12,412 34,123 35,636
Total non-interest expense 68,552 65,180 197,205 191,997
Income Before Income Taxes 48,118 41,113 134,719 120,090
Federal and state income tax expense 11,639 10,156 33,298 30,000
Net Income $ 36,479 $ 30,957 $ 101,421 $ 90,090
Basic earnings per share $ 0.47 $ 0.40 $ 1.31 $ 1.18
Diluted earnings per share 0.47 0.40 1.31 1.18
Dividends declared per share $ 0.51 $ 0.20 $ 0.93 $ 0.60
Average outstanding shares - basic 78,004,450 76,288,640 77,379,514 76,195,550
Average outstanding shares - diluted 78,065,942 76,350,873 77,442,944 76,247,051