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Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest Income        
Investment securities $ 21,892 $ 22,370 $ 43,243 $ 42,512
Residential real estate loans 11,410 10,149 22,189 18,934
Commercial loans 88,043 75,824 171,582 141,339
Consumer and other loans 11,040 9,372 21,487 17,996
Total interest income 132,385 117,715 258,501 220,781
Interest Expense        
Deposits 5,624 4,617 10,965 8,533
Securities sold under agreements to repurchase 886 486 1,688 971
Federal Home Loan Bank advances 3,847 2,513 6,902 4,602
Other borrowed funds 38 26 76 42
Subordinated debentures 1,694 1,519 3,362 2,787
Total interest expense 12,089 9,161 22,993 16,935
Net Interest Income 120,296 108,554 235,508 203,846
Provision for loan losses 0 4,718 57 5,513
Net interest income after provision for loan losses 120,296 103,836 235,451 198,333
Non-Interest Income        
Service charges and other fees 20,025 18,804 38,040 35,675
Miscellaneous loan fees and charges 1,192 2,243 2,159 3,720
Gain on sale of loans 7,762 8,142 13,560 14,239
Gain (loss) on sale of debt securities 134 (56) 347 (389)
Other income 1,721 2,695 5,202 4,669
Total non-interest income 30,834 31,828 59,308 57,914
Non-Interest Expense        
Compensation and employee benefits 51,973 49,023 104,701 94,744
Occupancy and equipment 8,180 7,662 16,617 14,936
Advertising and promotions 2,767 2,530 5,155 4,700
Data processing 4,062 4,241 7,954 8,208
Other real estate owned 191 211 330 283
Regulatory assessments and insurance 1,848 1,329 3,133 2,535
Core deposit intangibles amortization 1,865 1,748 3,559 2,804
Other expenses 15,284 15,051 27,551 27,212
Total non-interest expense 86,170 81,795 169,000 155,422
Income Before Income Taxes 64,960 53,869 125,759 100,825
Federal and state income tax expense 12,568 9,485 24,235 17,882
Net Income $ 52,392 $ 44,384 $ 101,524 $ 82,943
Basic earnings per share $ 0.61 $ 0.53 $ 1.19 $ 1.00
Diluted earnings per share 0.61 0.52 1.19 1.00
Dividends declared per share $ 0.27 $ 0.26 $ 0.53 $ 0.49
Average outstanding shares - basic 85,826,290 84,514,257 85,191,658 82,671,816
Average outstanding shares - diluted 85,858,286 84,559,268 85,241,238 82,734,407