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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
INTEREST INCOME        
Loans $ 179,971 $ 162,438 $ 517,533 $ 456,041
Interest bearing balances due from banks and federal funds sold 1,586 1,405 4,861 3,828
Investment securities 15,367 14,640 49,273 41,558
Mortgage loans held for sale 382 501 924 964
TOTAL INTEREST INCOME 197,306 178,984 572,591 502,391
INTEREST EXPENSE        
Deposits 36,936 24,390 102,482 58,448
Federal funds purchased and securities sold under agreements to repurchase 249 104 642 302
Other borrowings 5,381 6,240 18,393 16,520
Subordinated notes and debentures 4,576 5,282 13,528 12,350
TOTAL INTEREST EXPENSE 47,142 36,016 135,045 87,620
NET INTEREST INCOME 150,164 142,968 437,546 414,771
Provision for loan losses 21,973 10,345 38,337 28,528
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 128,191 132,623 399,209 386,243
NON-INTEREST INCOME        
Investment banking income 513 664 1,491 2,312
Bank owned life insurance income 1,302 1,105 3,357 3,310
Gain on sale of securities, net 7,374 54 12,937 53
Other income 43,821 4,942 52,083 14,151
TOTAL NON-INTEREST INCOME 83,775 33,725 156,542 109,308
NON-INTEREST EXPENSE        
Salaries and employee benefits 52,065 55,515 164,560 167,550
Occupancy expense, net 8,342 7,713 22,736 22,594
Furniture and equipment expense 4,898 3,761 12,462 12,184
Other real estate and foreclosure expense 1,125 538 2,353 2,940
Deposit insurance 0 2,248 4,550 6,232
Merger related costs 2,556 804 11,548 3,980
Other operating expenses 37,879 29,674 100,808 81,353
TOTAL NON-INTEREST EXPENSE 106,865 100,253 319,017 296,833
INCOME BEFORE INCOME TAXES 105,101 66,095 236,734 198,718
Provision for income taxes 23,275 10,902 51,289 38,651
NET INCOME 81,826 55,193 185,445 160,067
Preferred stock dividends 0 0 326 0
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 81,826 $ 55,193 $ 185,119 $ 160,067
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.85 $ 0.60 $ 1.95 $ 1.74
DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.84 $ 0.59 $ 1.94 $ 1.72
Trust income        
NON-INTEREST INCOME        
Non-interest income $ 6,108 $ 6,277 $ 17,610 $ 17,148
Service charges on deposit accounts        
NON-INTEREST INCOME        
Non-interest income 10,825 10,837 31,450 31,245
Other service charges and fees        
NON-INTEREST INCOME        
Non-interest income 1,308 1,201 3,909 5,968
Mortgage lending income        
NON-INTEREST INCOME        
Non-interest income 4,509 1,521 10,988 7,773
SBA lending income        
NON-INTEREST INCOME        
Non-interest income 956 304 2,348 1,627
Debit and credit card fees        
NON-INTEREST INCOME        
Non-interest income $ 7,059 $ 6,820 $ 20,369 $ 25,721