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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
INTEREST INCOME:      
Interest and fees on loans $ 424,615 $ 393,871 $ 304,006
Interest on securities:      
Taxable 73,147 54,131 38,365
Nontaxable 9,868 14,120 19,698
Interest on federal funds sold 4 0 42
Interest on interest bearing deposits in other financial institutions 6,695 3,698 1,547
TOTAL INTEREST INCOME 514,329 465,820 363,658
INTEREST EXPENSE:      
Interest on deposits 63,734 35,667 18,279
Interest on short-term borrowings 1,748 1,696 678
Interest on other borrowings (includes $170, $179, and $1,290 of interest expense related to derivatives reclassified from accumulated other comprehensive income (loss) for the years ended December 31, 2019, 2018, and 2017, respectively) 15,118 14,503 14,393
TOTAL INTEREST EXPENSE 80,600 51,866 33,350
NET INTEREST INCOME 433,729 413,954 330,308
Provision for loan losses 16,657 24,013 15,563
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 417,072 389,941 314,745
NONINTEREST INCOME:      
Revenue from contract with customers 75,342 71,612 59,034
Loan servicing income 4,843 7,292 5,636
Securities gains, net (includes $7,659, $1,085, and $6,764 of net security gains reclassified from accumulated other comprehensive income (loss) for the years ended December 31, 2019, 2018, and 2017, respectively) 7,659 1,085 6,973
Unrealized gain on equity securities, net 525 212 0
Net gains on sale of loans held for sale 15,555 21,450 22,251
Valuation allowance on servicing rights (911) (46) 21
Income on bank owned life insurance 3,785 2,793 2,772
Other noninterest income 9,410 4,762 5,335
TOTAL NONINTEREST INCOME 116,208 109,160 102,022
NONINTEREST EXPENSES:      
Salaries and employee benefits 200,541 196,118 171,407
Occupancy 25,450 25,328 22,244
Furniture and equipment 12,100 12,529 11,061
Professional fees 50,022 43,510 36,474
Advertising 10,028 9,565 7,229
Core deposit intangibles and customer relationship intangibles amortization 11,972 9,355 6,077
Other real estate and loan collection expenses 1,035 3,038 2,461
(Gain) loss on sales/valuations of assets, net (19,422) 2,208 2,475
Restructuring expenses 3,227 2,564 0
Other noninterest expenses 54,208 49,673 38,247
TOTAL NONINTEREST EXPENSES 349,161 353,888 297,675
INCOME BEFORE INCOME TAXES 184,119 145,213 119,092
Income taxes (includes $1,890, $165, and $2,042 of income tax expense reclassified from accumulated other comprehensive income (loss) for the years ended December 31, 2019, 2018, and 2017, respectively) 34,990 28,215 43,820
NET INCOME 149,129 116,998 75,272
Preferred dividends 0 (39) (58)
Interest expense on convertible preferred debt 0 0 12
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 149,129 $ 116,959 $ 75,226
EARNINGS PER COMMON SHARE - BASIC (in dollars per share) $ 4.14 $ 3.54 $ 2.67
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share) 4.14 3.52 2.65
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.68 $ 0.59 $ 0.51
Service charges and fees      
NONINTEREST INCOME:      
Revenue from contract with customers $ 52,157 $ 48,706 $ 39,183
Trust fees      
NONINTEREST INCOME:      
Revenue from contract with customers 19,399 18,393 15,818
Brokerage and insurance commissions      
NONINTEREST INCOME:      
Revenue from contract with customers $ 3,786 $ 4,513 $ 4,033