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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest and Dividend Income        
Loans, including fees $ 159,915 $ 145,472 $ 443,441 $ 390,044
Mortgage loans held for sale, including fees 1,847 1,594 4,742 3,953
Investment securities:        
Taxable interest 12,184 9,552 33,906 28,411
Tax-exempt interest 1,546 1,442 4,111 4,500
Amortization of FDIC loss share receivable (5,600) (25,120) (19,011) (61,393)
Other 1,185 853 3,018 2,024
Total interest and dividend income 171,077 133,793 470,207 367,539
Deposits:        
NOW and MMDA 7,968 5,046 19,409 13,353
Savings 217 88 525 235
Time deposits 5,039 3,983 14,410 10,009
Short-term borrowings 116 406 699 1,022
Long-term debt 2,620 2,519 8,566 7,488
Total interest expense 15,960 12,042 43,609 32,107
Net interest income 155,117 121,751 426,598 335,432
Provision for loan losses 5,062 5,714 19,197 12,565
Net interest income after provision for loan losses 150,055 116,037 407,401 322,867
Non-interest Income        
Mortgage income 20,730 14,263 63,999 38,150
Service charges on deposit accounts 11,342 10,205 30,766 25,421
Title revenue 6,627 5,577 17,402 15,007
ATM/debit card fee income 3,562 3,287 10,420 8,691
Income from bank owned life insurance 1,093 1,047 3,260 4,423
Gain on sale of available for sale securities 280 582 1,569 609
Broker commissions 3,839 5,297 13,462 14,823
Other non-interest income 10,005 6,854 27,012 19,430
Total non-interest income 57,478 47,112 167,890 126,554
Non-interest Expense        
Salaries and employee benefits 82,416 64,934 239,131 193,641
Net occupancy and equipment 17,987 14,883 51,613 44,977
Impairment of FDIC loss share receivables and other long-lived assets 1,896 4,741 1,884 5,378
Communication and delivery 3,420 2,525 10,164 8,756
Marketing and business development 3,260 2,624 11,003 8,886
Data processing 6,727 5,693 27,928 21,196
Professional services 5,825 4,267 18,657 13,575
Credit and other loan related expense 5,241 4,569 14,154 11,208
Insurance 4,614 3,846 12,402 10,518
Travel and entertainment 2,248 2,289 7,489 6,745
Other non-interest expense 11,334 9,741 36,905 29,599
Total non-interest expense 144,968 120,112 431,330 354,479
Income before income tax expense 62,565 43,037 143,961 94,942
Income tax expense 20,090 12,144 45,524 25,497
Net Income 42,475 30,893 98,437 69,445
Income Available to Common Shareholders - Basic 42,475 30,893 98,437 69,445
Earnings Allocated to Unvested Restricted Stock (492) (462) (1,171) (1,114)
Earnings Allocated to Common Shareholders $ 41,983 $ 30,431 $ 97,266 $ 68,331
Earnings per common share - Basic (in usd per share) $ 1.04 $ 0.93 $ 2.60 $ 2.22
Earnings per common share - Diluted (in usd per share) 1.03 0.92 2.59 2.21
Cash dividends declared per share (in usd per share) $ 0.34 $ 0.34 $ 1.02 $ 1.02
Comprehensive Income        
Net Income $ 42,475 $ 30,893 $ 98,437 $ 69,445
Unrealized gains (losses) on securities:        
Unrealized holding gains (losses) arising during the period (net of tax effects of $6,681, $2,461, $5,843 and $8,955, respectively) 12,408 (4,571) 10,852 16,631
Reclassification adjustment for gains included in net income (net of tax effects of $98, $204, $549 and $213, respectively) (182) (378) (1,020) (396)
Unrealized gains (losses) on securities, net of tax 12,226 (4,949) 9,832 16,235
Fair value of derivative instruments designated as cash flow hedges:        
Change in fair value of derivative instruments designated as cash flow hedges during the period (net of tax effects of $1,837, $0, $201 and $0, respectively) (3,412) 0 (374) 0
Reclassification adjustment for losses included in net income 0 0 0 0
Fair value of derivative instruments designated as cash flow hedges, net of tax (3,412) 0 (374) 0
Other comprehensive income (loss), net of tax 8,814 (4,949) 9,458 16,235
Comprehensive Income $ 51,289 $ 25,944 $ 107,895 $ 85,680