CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2016 |
Sep. 30, 2015 |
Sep. 30, 2016 |
Sep. 30, 2015 |
|
| Interest income | ||||
| Loans, including fees | $ 66,997 | $ 58,694 | $ 194,820 | $ 167,744 |
| Investment securities | ||||
| Taxable | 10,326 | 9,986 | 32,405 | 28,875 |
| Tax-exempt | 1,083 | 1,163 | 3,401 | 3,419 |
| Total interest on investment securities | 11,409 | 11,149 | 35,806 | 32,294 |
| Other earning assets | (1,081) | (1,168) | (3,323) | (3,511) |
| Total interest income | 77,325 | 68,675 | 227,303 | 196,527 |
| Interest expense | ||||
| Deposits | 5,600 | 4,861 | 16,587 | 14,302 |
| Short-term borrowings | 1,368 | 374 | 3,591 | 930 |
| Long-term borrowings | 1,539 | 281 | 4,620 | 876 |
| Total interest expense | 8,507 | 5,516 | 24,798 | 16,108 |
| Net interest income | 68,818 | 63,159 | 202,505 | 180,419 |
| Provision for loan and lease losses | 1,687 | 2,647 | 7,379 | 7,777 |
| Net interest income after provision for loan and lease losses | 67,131 | 60,512 | 195,126 | 172,642 |
| Noninterest income | ||||
| Service charges on deposit accounts | 5,056 | 4,934 | 13,892 | 14,260 |
| Trust and wealth management fees | 3,236 | 3,134 | 9,959 | 10,042 |
| Bankcard income | 2,984 | 2,909 | 8,996 | 8,501 |
| Client derivative fees | 1,210 | 1,604 | 4,104 | 3,444 |
| Net gains from sales of loans | 2,066 | 1,758 | 5,093 | 5,146 |
| Net gains on sales of investment securities | 398 | 409 | 234 | 1,503 |
| FDIC loss sharing income | (638) | (973) | (1,144) | (2,323) |
| Accelerated discount on covered/formerly covered loans | 491 | 3,820 | 2,653 | 10,006 |
| Other | 2,146 | 2,760 | 8,868 | 8,804 |
| Total noninterest income | 16,949 | 20,355 | 52,655 | 59,383 |
| Noninterest expenses | ||||
| Salaries and employee benefits | 32,093 | 27,768 | 91,234 | 82,160 |
| Net occupancy | 4,543 | 4,510 | 13,991 | 13,895 |
| Furniture and equipment | 2,139 | 2,165 | 6,482 | 6,537 |
| Data processing | 2,828 | 2,591 | 8,311 | 8,020 |
| Marketing | 641 | 810 | 2,507 | 2,671 |
| Communication | 527 | 531 | 1,485 | 1,659 |
| Professional services | 1,460 | 4,092 | 4,572 | 7,789 |
| State intangible tax | 639 | 579 | 1,917 | 1,733 |
| FDIC assessments | 1,048 | 1,103 | 3,292 | 3,307 |
| Loss (gain) - other real estate owned | (112) | 196 | (259) | 1,089 |
| Loss sharing expense | 270 | 574 | 555 | 1,451 |
| Other | 5,029 | 8,073 | 17,151 | 19,535 |
| Total noninterest expenses | 51,105 | 52,992 | 151,238 | 149,846 |
| Income before income taxes | 32,975 | 27,875 | 96,543 | 82,179 |
| Income tax expense | 10,125 | 9,202 | 31,311 | 26,936 |
| Net income | $ 22,850 | $ 18,673 | $ 65,232 | $ 55,243 |
| Earnings per common share | ||||
| Basic | $ 0.37 | $ 0.31 | $ 1.07 | $ 0.90 |
| Diluted | 0.37 | 0.30 | 1.05 | 0.89 |
| Cash dividends declared per share | $ 0.16 | $ 0.16 | $ 0.48 | $ 0.48 |
| Average common shares outstanding - basic | 61,280,283 | 61,135,749 | 61,170,845 | 61,088,794 |
| Average common shares outstanding - diluted | 62,086,067 | 61,987,795 | 61,962,961 | 61,858,724 |