Consolidated Statements of Income - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
| Interest and dividend income: |
|
|
|
| Loans, including fees |
$ 131,836
|
$ 103,887
|
$ 97,548
|
| Debt securities: |
|
|
|
| Taxable |
25,303
|
14,753
|
6,349
|
| Tax exempt |
1,509
|
505
|
583
|
| Dividends |
2,118
|
837
|
387
|
| Interest bearing cash at Federal Reserve and other banks |
648
|
1,133
|
1,693
|
| Total interest and dividend income |
161,414
|
121,115
|
106,560
|
| Interest expense: |
|
|
|
| Deposits |
3,434
|
3,274
|
3,445
|
| Other borrowings |
4
|
4
|
4
|
| Junior subordinated debt |
1,978
|
1,403
|
1,247
|
| Total interest expense |
5,416
|
4,681
|
4,696
|
| Net interest income |
155,998
|
116,434
|
101,864
|
| Benefit from reversal of previously provided loan losses |
(2,210)
|
(4,045)
|
(715)
|
| Net interest income after provision for loan losses |
158,208
|
120,479
|
102,579
|
| Noninterest income: |
|
|
|
| Service charges and fees |
31,821
|
24,236
|
25,257
|
| Gain on sale of loans |
3,064
|
2,032
|
5,602
|
| Commissions on sale of non-deposit investment products |
3,349
|
2,995
|
2,983
|
| Increase in cash value of life insurance |
2,786
|
1,953
|
1,727
|
| Other |
4,327
|
3,300
|
1,260
|
| Total noninterest income |
45,347
|
34,516
|
36,829
|
| Noninterest expense: |
|
|
|
| Salaries and related benefits |
71,405
|
57,544
|
51,936
|
| Other |
59,436
|
52,835
|
41,668
|
| Total noninterest expense |
130,841
|
110,379
|
93,604
|
| Income before income taxes |
72,714
|
44,616
|
45,804
|
| Provision for income taxes |
28,896
|
18,508
|
18,405
|
| Net income |
$ 43,818
|
$ 26,108
|
$ 27,399
|
| Earnings per share: |
|
|
|
| Basic |
$ 1.93
|
$ 1.47
|
$ 1.71
|
| Diluted |
$ 1.91
|
$ 1.46
|
$ 1.69
|