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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
INTEREST INCOME        
Loans $ 162,438 $ 77,457 $ 456,041 $ 219,734
Interest bearing balances due from banks and federal funds sold 1,405 650 3,828 986
Investment securities 14,640 9,218 41,558 28,659
Mortgage loans held for sale 501 159 964 430
TOTAL INTEREST INCOME 178,984 87,484 502,391 249,809
INTEREST EXPENSE        
Deposits 24,390 6,030 58,448 15,050
Federal funds purchased and securities sold under agreements to repurchase 104 83 302 250
Other borrowings 6,240 1,875 16,520 4,628
Subordinated notes and debentures 5,282 677 12,350 1,870
TOTAL INTEREST EXPENSE 36,016 8,665 87,620 21,798
NET INTEREST INCOME 142,968 78,819 414,771 228,011
Provision for loan losses 10,345 5,462 28,528 16,792
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 132,623 73,357 386,243 211,219
NON-INTEREST INCOME        
Investment banking income 664 680 2,312 2,007
Bank owned life insurance income 1,105 725 3,310 2,402
Gain on sale of securities, net 54 3 53 2,302
Other income 4,942 7,276 14,151 15,178
TOTAL NON-INTEREST INCOME 33,725 36,332 109,308 102,136
NON-INTEREST EXPENSE        
Salaries and employee benefits 55,515 35,285 167,550 105,026
Occupancy expense, net 7,713 4,928 22,594 14,459
Furniture and equipment expense 3,761 4,840 12,184 13,833
Other real estate and foreclosure expense 538 1,071 2,940 2,177
Deposit insurance 2,248 1,020 6,232 2,480
Merger related costs 804 752 3,980 7,879
Other operating expenses 29,674 18,263 81,353 58,035
TOTAL NON-INTEREST EXPENSE 100,253 66,159 296,833 203,889
INCOME BEFORE INCOME TAXES 66,095 43,530 198,718 109,466
Provision for income taxes 10,902 14,678 38,651 35,429
NET INCOME $ 55,193 $ 28,852 $ 160,067 $ 74,037
BASIC EARNINGS PER SHARE (in dollars per share) [1] $ 0.60 $ 0.45 $ 1.74 $ 1.16
DILUTED EARNINGS PER SHARE (in dollars per share) [1] $ 0.59 $ 0.44 $ 1.72 $ 1.16
Trust income        
NON-INTEREST INCOME        
Non-interest income $ 6,277 $ 4,225 $ 17,148 $ 12,550
Service charges on deposit accounts        
NON-INTEREST INCOME        
Non-interest income 10,837 8,907 31,245 25,492
Other service charges and fees        
NON-INTEREST INCOME        
Non-interest income 1,201 2,433 5,968 7,145
Mortgage and SBA lending income        
NON-INTEREST INCOME        
Non-interest income 1,825 3,219 9,400 9,603
Debit and credit card fees        
NON-INTEREST INCOME        
Non-interest income $ 6,820 $ 8,864 $ 25,721 $ 25,457
[1] All per share amounts have been restated to reflect the effect of the two-for-one stock split on February 8, 2018.