XML 19 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST INCOME        
Loans $ 176,910 $ 178,122 $ 364,476 $ 337,562
Interest bearing balances due from banks and federal funds sold 603 1,121 3,044 3,275
Investment securities 13,473 15,666 32,416 31,947
Mortgage loans held for sale 668 332 949 542
TOTAL INTEREST INCOME 191,654 195,241 400,885 373,326
INTEREST EXPENSE        
Deposits 18,006 34,796 49,283 65,546
Federal funds purchased and securities sold under agreements to repurchase 337 257 1,096 393
Other borrowings 4,963 6,219 9,840 13,012
Subordinated notes and debentures 4,667 4,541 9,502 8,952
TOTAL INTEREST EXPENSE 27,973 45,813 69,721 87,903
NET INTEREST INCOME 163,681 149,428 331,164 285,423
Provision for credit loss expense 26,915 7,079 53,049 16,364
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 136,766 142,349 278,115 269,059
NON-INTEREST INCOME        
Investment banking income 571 360 1,448 978
Bank owned life insurance income 1,445 1,260 2,743 2,055
Gain on sale of securities, net 390 2,823 32,485 5,563
Other income 9,809 6,065 22,610 10,221
TOTAL NON-INTEREST INCOME 50,227 39,934 132,621 74,726
NON-INTEREST EXPENSE        
Salaries and employee benefits 57,644 56,128 125,568 112,495
Occupancy expense, net 9,217 6,919 18,727 14,394
Furniture and equipment expense 6,144 4,206 11,867 7,564
Other real estate and foreclosure expense 274 591 599 1,228
Deposit insurance 2,838 2,510 5,313 4,550
Merger related costs 1,830 7,522 2,898 8,992
Other operating expenses 34,651 32,867 73,439 62,929
TOTAL NON-INTEREST EXPENSE 112,598 110,743 238,411 212,152
INCOME BEFORE INCOME TAXES 74,395 71,540 172,325 131,633
Provision for income taxes 15,593 15,616 36,287 28,014
NET INCOME 58,802 55,924 136,038 103,619
Preferred stock dividends 13 326 26 326
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 58,789 $ 55,598 $ 136,012 $ 103,293
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.54 $ 0.58 $ 1.23 $ 1.10
DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.54 $ 0.58 $ 1.22 $ 1.09
Trust income        
NON-INTEREST INCOME        
Non-interest income $ 7,253 $ 5,794 $ 14,404 $ 11,502
Service charges on deposit accounts        
NON-INTEREST INCOME        
Non-interest income 8,570 10,557 21,898 20,625
Other service charges and fees        
NON-INTEREST INCOME        
Non-interest income 1,489 1,312 3,077 2,601
Mortgage lending income        
NON-INTEREST INCOME        
Non-interest income 12,459 3,656 17,505 6,479
SBA lending income        
NON-INTEREST INCOME        
Non-interest income 245 895 541 1,392
Debit and credit card fees        
NON-INTEREST INCOME        
Non-interest income $ 7,996 $ 7,212 $ 15,910 $ 13,310