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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest and Dividend Income        
Loans, including fees $ 283,125 $ 216,888 $ 791,670 $ 565,130
Mortgage loans held for sale, including fees 1,037 1,209 3,027 3,429
Investment securities:        
Taxable interest 27,113 24,067 79,058 62,177
Tax-exempt interest 2,680 2,179 8,154 6,303
Other 3,112 2,629 9,524 7,041
Total interest and dividend income 317,067 246,972 891,433 644,080
Deposits:        
NOW and MMDA 31,367 15,633 79,128 38,940
Savings 550 401 1,503 1,050
Time deposits 12,484 5,766 28,173 14,980
Short-term borrowings 4,727 4,152 10,578 4,655
Long-term debt 8,714 4,137 23,824 11,111
Total interest expense 57,842 30,089 143,206 70,736
Net interest income 259,225 216,883 748,227 573,344
Provision for loan and lease losses 11,097 18,514 26,678 36,718
Net interest income after provision for loan and lease losses 248,128 198,369 721,549 536,626
Non-interest Income        
Income from bank owned life insurance 1,744 1,263 4,287 3,815
Gain (loss) on sale of available for sale securities 0 (242) (56) (183)
Other non-interest income 6,607 5,481 17,502 15,291
Total non-interest income 53,087 50,843 151,593 149,805
Non-interest Expense        
Salaries and employee benefits 101,159 106,970 313,190 275,140
Net occupancy and equipment 18,889 19,139 58,867 51,452
Communication and delivery 3,773 3,533 11,888 9,534
Marketing and business development 4,068 3,706 13,715 10,368
Data processing 9,036 12,300 30,738 25,374
Professional services 5,519 22,550 20,070 39,104
Credit and other loan related expense 5,117 7,532 14,925 15,838
Insurance 6,536 6,264 20,587 15,279
Travel and entertainment 1,846 2,601 7,880 7,837
Amortization of acquisition intangibles 5,382 4,527 16,595 7,948
Errors, fines, and losses 467 4,714 24,924 7,916
Other non-interest expense 7,557 6,926 21,143 19,148
Total non-interest expense 169,349 200,762 554,522 484,938
Income before income tax expense 131,866 48,450 318,620 201,493
Income tax expense 30,401 18,806 78,410 69,358
Net Income 101,465 29,644 240,210 132,135
Less: Preferred stock dividends 3,599 3,598 8,146 8,146
Net Income Available to Common Shareholders 97,866 26,046 232,064 123,989
Less: Earnings allocated to unvested restricted stock 908 283 2,341 1,052
Earnings allocated to common shareholders $ 96,958 $ 25,763 $ 229,723 $ 122,937
Earnings per common share - Basic (in usd per share) $ 1.74 $ 0.49 $ 4.17 $ 2.47
Earnings per common share - Diluted (in usd per share) 1.73 0.49 4.14 2.45
Cash dividends declared per common share (in usd per share) $ 0.39 $ 0.37 $ 1.15 $ 1.09
Comprehensive Income        
Net income $ 101,465 $ 29,644 $ 240,210 $ 132,135
Unrealized gains (losses) on securities:        
Unrealized holding gains (losses) arising during the period (net of tax effects of $5,906, $472, $24,578, and $7,430, respectively) (22,220) 877 (92,460) 13,799
Less: Reclassification adjustment for gains (losses) included in net income (net of tax effects of $0, $85, $12, and $64, respectively) 0 (157) (44) (119)
Unrealized gains (losses) on securities, net of tax (22,220) 1,034 (92,416) 13,918
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 $217, $24, $1,266, and $314, respectively) 818 (158) 4,762 (1,081)
Less: Reclassification adjustment for gains (losses) included in net income (net of tax effects of $6, $55, $47, and $134, respectively) (22) (101) (178) (249)
Fair value of derivative instruments designated as cash flow hedges, net of tax 840 (57) 4,940 (832)
Other comprehensive income (loss), net of tax (21,380) 977 (87,476) 13,086
Comprehensive income 80,085 30,621 152,734 145,221
Mortgage income        
Non-interest Income        
Non-interest Income 12,732 16,050 36,048 49,895
Service charges on deposit accounts        
Non-interest Income        
Non-interest Income 13,520 12,534 39,378 35,097
Title revenue        
Non-interest Income        
Non-interest Income 6,280 5,643 18,153 16,574
Broker commissions        
Non-interest Income        
Non-interest Income 2,627 2,094 7,244 7,203
ATM/debit card fee income        
Non-interest Income        
Non-interest Income 2,470 2,486 8,028 7,615
Credit card and merchant-related income        
Non-interest Income        
Non-interest Income 3,114 2,848 9,347 7,873
Trust department income        
Non-interest Income        
Non-interest Income $ 3,993 $ 2,686 $ 11,662 $ 6,625