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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
INTEREST INCOME          
Loans $ 121,860 $ 121,476 $ 85,625 $ 243,336 $ 169,798
Investment securities and other interest-earning assets 10,554 9,767 7,074 20,321 13,728
Total interest income 132,414 131,243 92,699 263,657 183,526
INTEREST EXPENSE          
Deposits 15,991 13,284 7,756 29,275 13,670
FHLB advances and other borrowings 3,083 4,802 2,125 7,885 4,148
Subordinated debentures 2,699 1,751 1,647 4,450 3,256
Total interest expense 21,773 19,837 11,528 41,610 21,074
Net interest income before provision for credit losses 110,641 111,406 81,171 222,047 162,452
Provision for credit losses 334 1,526 1,761 1,860 4,014
Net interest income after provision for credit losses 110,307 109,880 79,410 220,187 158,438
NONINTEREST INCOME          
Loan servicing fees 409 398 292 807 637
Earnings on bank-owned life insurance 851 910 617 1,761 1,228
Net gain from sales of loans 902 1,729 3,843 2,631 6,801
Net gain from sales of investment securities 212 427 330 639 336
Other income 1,001 1,460 753 2,461 2,167
Total noninterest income 6,324 7,681 8,151 14,005 15,817
NONINTEREST EXPENSE          
Compensation and benefits 33,847 33,388 29,274 67,235 58,147
Premises and occupancy 7,517 7,535 5,045 15,052 9,826
Data processing 3,036 2,930 2,747 5,966 5,449
Other real estate owned operations, net 62 3 2 65 3
FDIC insurance premiums 740 800 581 1,540 1,192
Legal, audit and professional expense 3,545 2,998 1,816 6,543 3,655
Marketing expense 1,425 1,497 1,352 2,922 2,882
Office, telecommunications and postage expense 1,311 1,210 1,115 2,521 2,195
Loan expense 1,005 873 594 1,878 1,185
Deposit expense 3,668 3,583 2,302 7,251 3,978
Merger-related expense 5 655 943 660 1,879
Core deposit intangible (“CDI”) amortization 4,281 4,436 1,996 8,717 4,270
Other expense 3,494 3,669 2,309 7,163 5,223
Total noninterest expense 63,936 63,577 50,076 127,513 99,884
Net income before income taxes 52,695 53,984 37,485 106,679 74,371
Income tax 14,168 15,266 10,182 29,434 19,066
Net income $ 38,527 $ 38,718 $ 27,303 $ 77,245 $ 55,305
EARNINGS PER SHARE          
Basic (in dollars per share) $ 0.62 $ 0.62 $ 0.59 $ 1.24 $ 1.20
Diluted (in dollars per share) $ 0.62 $ 0.62 $ 0.58 $ 1.23 $ 1.18
WEIGHTED AVERAGE SHARES OUTSTANDING          
Basic (in shares) 61,308,046 61,987,605 46,053,077 61,645,940 45,973,727
Diluted (in shares) 61,661,773 62,285,783 46,702,968 61,980,133 46,678,123
Service charges on deposit accounts          
NONINTEREST INCOME          
Noninterest income $ 1,441 $ 1,330 $ 1,057 $ 2,771 $ 2,207
Other service fee income          
NONINTEREST INCOME          
Noninterest income 363 356 169 719 315
Debit card interchange fee income          
NONINTEREST INCOME          
Noninterest income $ 1,145 $ 1,071 $ 1,090 $ 2,216 $ 2,126