|
Consolidated Statements of Comprehensive 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: |
|
|
|
| Loans, including fees |
$ 96,664 |
$ 93,439 |
$ 92,493 |
| Investment securities: |
|
|
|
| Taxable interest income |
4,505 |
3,567 |
4,474 |
| Nontaxable interest income |
413 |
443 |
570 |
| Federal funds sold and bank deposits |
85 |
114 |
33 |
| Total interest income |
101,667 |
97,563 |
97,570 |
| Interest expense: |
|
|
|
| Deposits |
9,707 |
10,418 |
11,073 |
| Other borrowings |
406 |
810 |
1,763 |
| Subordinated debt |
1,113 |
2,733 |
4,242 |
| Total interest expense |
11,226 |
13,961 |
17,078 |
| Net interest income |
90,441 |
83,602 |
80,492 |
| Provision for loan losses |
531 |
5,440 |
13,420 |
| Net interest income after provision for loan losses |
89,910 |
78,162 |
67,072 |
| Noninterest income: |
|
|
|
| Service charges on deposit accounts |
4,438 |
4,156 |
4,686 |
| Other fees and charges |
4,349 |
3,871 |
3,360 |
| Mortgage banking activities |
55,781 |
66,560 |
56,332 |
| Indirect lending activities |
18,457 |
9,040 |
6,414 |
| SBA lending activities |
4,987 |
3,640 |
4,944 |
| Bank owned life insurance |
1,673 |
1,273 |
1,307 |
| Securities gains |
0 |
189 |
307 |
| Other |
5,635 |
8,149 |
10,611 |
| Total noninterest income |
95,320 |
96,878 |
87,961 |
| Noninterest expense: |
|
|
|
| Salaries and employee benefits |
67,006 |
57,645 |
47,832 |
| Commissions |
19,988 |
24,676 |
21,817 |
| Occupancy |
12,985 |
10,342 |
9,253 |
| Communication |
3,897 |
3,031 |
2,502 |
| Other |
34,878 |
36,631 |
33,993 |
| Total noninterest expense |
138,754 |
132,325 |
115,397 |
| Income before income tax expense |
46,476 |
42,715 |
39,636 |
| Income tax expense |
16,440 |
15,077 |
14,309 |
| Net income |
30,036 |
27,638 |
25,327 |
| Preferred stock dividends and accretion of discount |
0 |
(2,463) |
(3,293) |
| Net income available to common equity |
30,036 |
25,175 |
22,034 |
| Earnings per common share: |
|
|
|
| Basic earnings per share (in dollars per share) |
$ 1.41 |
$ 1.35 |
$ 1.47 |
| Diluted earnings per share (in dollars per share) |
$ 1.28 |
$ 1.21 |
$ 1.32 |
| Change in net unrealized gains/(losses) on available-for-sale securities, net of income taxes of $1,130, $1,508, and $17 |
1,846 |
(2,460) |
25 |
| Adjustment for net gains included in net income, net of tax of $0, $72, and $117 |
0 |
(117) |
(190) |
| Other comprehensive income (loss), net of tax |
1,846 |
(2,577) |
(165) |
| Total comprehensive income |
$ 31,882 |
$ 25,061 |
$ 25,162 |