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Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest Income    
Investment securities $ 21,014 $ 21,351
Residential real estate loans 11,526 10,779
Commercial loans 98,684 83,539
Consumer and other loans 11,641 10,447
Total interest income 142,865 126,116
Interest Expense    
Deposits 5,581 5,341
Securities sold under agreements to repurchase 989 802
Federal Home Loan Bank advances 346 3,055
Other borrowed funds 128 38
Subordinated debentures 1,452 1,668
Total interest expense 8,496 10,904
Net Interest Income 134,369 115,212
Credit loss expense 22,744 57
Net interest income after credit loss expense 111,625 115,155
Non-Interest Income    
Service charges and other fees 14,020 18,015
Miscellaneous loan fees and charges 1,285 967
Gain on sale of loans 11,862 5,798
Gain on sale of debt securities 863 213
Other income 5,242 3,481
Total non-interest income 33,272 28,474
Non-Interest Expense    
Compensation and employee benefits 59,660 52,728
Occupancy and equipment 9,219 8,437
Advertising and promotions 2,487 2,388
Data processing 5,282 3,892
Other real estate owned 112 139
Regulatory assessments and insurance 1,090 1,285
Core deposit intangibles amortization 2,533 1,694
Other expenses 11,545 12,267
Total non-interest expense 91,928 82,830
Income Before Income Taxes 52,969 60,799
Federal and state income tax expense 9,630 11,667
Net Income $ 43,339 $ 49,132
Basic earnings per share $ 0.46 $ 0.58
Diluted earnings per share 0.46 0.58
Dividends declared per share $ 0.29 $ 0.26
Average outstanding shares - basic 93,287,670 84,549,974
Average outstanding shares - diluted 93,359,792 84,614,248