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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
INTEREST INCOME    
Loans $ 187,566 $ 159,440
Interest bearing balances due from banks and federal funds sold 2,441 2,154
Investment securities 18,943 16,281
Mortgage loans held for sale 281 210
TOTAL INTEREST INCOME 209,231 178,085
INTEREST EXPENSE    
Deposits 31,277 30,750
Federal funds purchased and securities sold under agreements to repurchase 759 136
Other borrowings 4,877 6,793
Subordinated notes and debentures 4,835 4,411
TOTAL INTEREST EXPENSE 41,748 42,090
NET INTEREST INCOME 167,483 135,995
Provision for credit loss expense 26,134 9,285
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 141,349 126,710
NON-INTEREST INCOME    
Investment banking income 877 618
Bank owned life insurance income 1,298 795
Gain on sale of securities, net 32,095 2,740
Other income 12,801 4,156
TOTAL NON-INTEREST INCOME 82,394 34,792
NON-INTEREST EXPENSE    
Salaries and employee benefits 67,924 56,367
Occupancy expense, net 9,510 7,475
Furniture and equipment expense 5,723 3,358
Other real estate and foreclosure expense 325 637
Deposit insurance 2,475 2,040
Merger related costs 1,068 1,470
Other operating expenses 38,788 30,062
TOTAL NON-INTEREST EXPENSE 125,813 101,409
INCOME BEFORE INCOME TAXES 97,930 60,093
Provision for income taxes 20,694 12,398
NET INCOME 77,236 47,695
Preferred stock dividends 13 0
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 77,223 $ 47,695
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.68 $ 0.52
DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.68 $ 0.51
Trust income    
NON-INTEREST INCOME    
Non-interest income $ 7,151 $ 5,708
Service charges on deposit accounts    
NON-INTEREST INCOME    
Non-interest income 13,328 10,068
Other service charges and fees    
NON-INTEREST INCOME    
Non-interest income 1,588 1,289
Mortgage lending income    
NON-INTEREST INCOME    
Non-interest income 5,046 2,823
SBA lending income    
NON-INTEREST INCOME    
Non-interest income 296 497
Debit and credit card fees    
NON-INTEREST INCOME    
Non-interest income $ 7,914 $ 6,098