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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
INTEREST INCOME:        
Interest and fees on loans and leases $ 69,809 $ 55,824 $ 138,234 $ 108,873
Interest on securities:        
Taxable 7,952 6,739 16,687 13,871
Nontaxable 3,566 2,874 7,076 5,790
Interest on federal funds sold 1 1 11 2
Interest on interest bearing deposits in other financial institutions 3 3 7 7
TOTAL INTEREST INCOME 81,331 65,441 162,015 128,543
INTEREST EXPENSE:        
Interest on deposits 4,021 3,819 8,194 7,991
Interest on short-term borrowings 519 212 848 410
Interest on other borrowings (includes $465 and $559 of interest expense related to derivatives reclassified from accumulated other comprehensive income for the three months ended June 30, 2016 and 2015, respectively, and $971 and $1,123 of interest expense related to derivatives reclassified from accumulated other comprehensive income for the six months ended June 30, 2016 and 2015, respectively) 3,673 3,766 7,148 8,568
TOTAL INTEREST EXPENSE 8,213 7,797 16,190 16,969
NET INTEREST INCOME 73,118 57,644 145,825 111,574
Provision for loan and lease losses 2,118 5,674 4,185 7,345
NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES 71,000 51,970 141,640 104,229
NONINTEREST INCOME:        
Service charges and fees 8,022 5,900 15,184 11,304
Loan servicing income 1,292 1,163 2,560 2,204
Trust fees 3,625 3,913 7,438 7,544
Brokerage and insurance commissions 886 916 1,908 2,003
Securities gains, net (includes $4,622 and $3,110 of net security gains reclassified from accumulated other comprehensive income for the three months ended June 30, 2016 and 2015, respectively, and $8,378 and $7,463 of net security gains reclassified from accumulated other comprehensive income for six months ended June 30, 2016 and 2015, respectively) 4,622 3,110 8,148 7,463
Net gains on sale of loans held for sale 11,270 14,599 22,335 28,341
Valuation allowance on commercial servicing rights (46) 0 (46) 0
Income on bank owned life insurance 591 459 1,113 983
Other noninterest income 764 601 1,964 1,482
TOTAL NONINTEREST INCOME 31,026 30,661 60,604 61,324
NONINTEREST EXPENSES:        
Salaries and employee benefits 41,985 36,851 83,699 73,489
Occupancy 5,220 4,028 10,223 8,287
Furniture and equipment 2,442 2,176 4,555 4,282
Professional fees 7,486 5,249 14,496 11,293
FDIC insurance assessments 1,120 899 2,288 1,855
Advertising 1,551 1,333 2,835 2,514
Intangible assets amortization 1,297 715 3,192 1,346
Other real estate and loan collection expenses 659 753 1,231 1,218
(Gain)/loss on sales/valuations of assets, net (43) 1,509 270 1,862
Other noninterest expenses 9,303 9,969 18,540 16,950
TOTAL NONINTEREST EXPENSES 71,020 63,482 141,329 123,096
Income (loss) before taxes 31,006 19,149 60,915 42,457
Income taxes (includes $1,551 and $952 of income tax expense reclassified from accumulated other comprehensive income for the three months ended June 30, 2016 and 2015, respectively, and $2,763 and $2,365 of income tax expense reclassified from accumulated other comprehensive income for the six months ended June 30, 2016 and 2015, respectively) 10,036 3,989 19,936 11,588
NET INCOME 20,970 15,160 40,979 30,869
Preferred dividends (52) (204) (220) (408)
Interest expense on convertible preferred debt 31 0 31 0
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 20,949 $ 14,956 $ 40,790 $ 30,461
EARNINGS PER COMMON SHARE - BASIC (in dollars per share) $ 0.85 $ 0.73 $ 1.69 $ 1.49
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share) 0.84 0.72 1.66 1.47
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.10 $ 0.10 $ 0.20 $ 0.20