|
CONSOLIDATED STATEMENTS OF INCOME (USD $) In Thousands, except Per Share data, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| Interest income: |
|
|
|
| Interest and fees on loans |
$ 92,395 |
$ 92,233 |
$ 98,614 |
| Interest and dividends on investment securities: |
|
|
|
| Taxable interest income |
12,427 |
12,570 |
14,626 |
| Non-taxable interest income |
3,253 |
3,893 |
3,676 |
| Total interest income |
108,075 |
108,696 |
116,916 |
| Interest expense: |
|
|
|
| Deposits |
5,123 |
7,099 |
12,496 |
| Federal funds purchased and securities sold under agreements to repurchase |
186 |
186 |
279 |
| Short-term borrowings |
|
15 |
35 |
| Long-term debt |
7 |
125 |
648 |
| Junior subordinated debt owed to unconsolidated trusts |
1,183 |
1,206 |
1,312 |
| Total interest expense |
6,499 |
8,631 |
14,770 |
| Net interest income |
101,576 |
100,065 |
102,146 |
| Provision for loan losses |
2,000 |
7,500 |
16,500 |
| Net interest income after provision for loan losses |
99,576 |
92,565 |
85,646 |
| Other income: |
|
|
|
| Trust fees |
19,559 |
18,521 |
17,592 |
| Commissions and brokers' fees, net |
2,716 |
2,416 |
2,102 |
| Remittance processing |
9,421 |
8,354 |
8,426 |
| Service charges on deposit accounts |
12,038 |
11,947 |
11,646 |
| Other service charges and fees |
6,238 |
5,961 |
5,717 |
| Gain on sales of loans |
4,723 |
10,227 |
12,535 |
| Security gains, net |
776 |
553 |
1,597 |
| Other |
3,470 |
4,604 |
7,237 |
| Total other income |
58,941 |
62,583 |
66,852 |
| Other expense: |
|
|
|
| Salaries and wages |
51,734 |
52,891 |
53,668 |
| Employee benefits |
9,607 |
10,922 |
11,124 |
| Net occupancy expense of premises |
8,462 |
8,489 |
8,899 |
| Furniture and equipment expenses |
4,725 |
4,848 |
5,146 |
| Data processing |
10,879 |
10,465 |
11,061 |
| Amortization of intangible assets |
2,884 |
3,132 |
3,315 |
| Regulatory expense |
2,079 |
2,290 |
2,543 |
| OREO expense |
93 |
503 |
1,303 |
| Other |
17,746 |
18,771 |
22,585 |
| Total other expense |
108,209 |
112,311 |
119,644 |
| Income before income taxes |
50,308 |
42,837 |
32,854 |
| Income taxes |
17,534 |
14,111 |
10,497 |
| Net income |
32,774 |
28,726 |
22,357 |
| Preferred stock dividends |
727 |
3,633 |
3,633 |
| Net income available for common stockholders |
$ 32,047 |
$ 25,093 |
$ 18,724 |
| Basic earnings per common share (in dollars per share) |
$ 0.37 |
$ 0.29 |
$ 0.22 |
| Diluted earnings per common share (in dollars per share) |
$ 0.37 |
$ 0.29 |
$ 0.22 |