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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest income:        
Real estate secured loans $ 44,541 $ 43,837 $ 131,424 $ 122,770
Commercial loans 13,767 13,961 40,875 36,056
Consumer loans 5,646 6,106 17,234 17,637
Securities available for sale and Federal Home Loan Bank Stock 5,672 6,410 17,708 20,155
Investment securities held to maturity 3,368 3,323 10,150 8,899
Deposits, Federal funds sold and other short-term investments 19 15 41 44
Total interest income 73,013 73,652 217,432 205,561
Interest expense:        
Deposits 3,639 4,054 10,851 11,479
Borrowed funds 6,827 6,629 20,432 18,511
Total interest expense 10,466 10,683 31,283 29,990
Net interest income 62,547 62,969 186,149 175,571
Provision for loan losses 1,400 1,500 3,100 3,400
Net interest income after provision for loan losses 61,147 61,469 183,049 172,171
Non-interest expense:        
Fees 6,230 6,126 19,465 16,002
Wealth management income 4,750 2,386 12,405 6,984
Bank-owned life insurance 1,247 1,349 3,913 4,228
Net gain on securities transactions 5 487 650 247
Other income (122) 961 2,922 2,291
Total non-interest income 12,110 11,309 39,355 29,752
Non-interest expense:        
Compensation and employee benefits 24,784 24,947 73,399 69,921
Net occupancy expense 6,186 5,950 19,935 17,662
Data processing expense 3,239 5,029 9,425 10,587
FDIC insurance 1,273 1,141 3,763 3,421
Amortization of intangibles 1,012 976 3,063 1,778
Advertising and promotion expense 598 1,281 2,740 3,427
Other operating expenses 6,522 6,509 20,845 20,898
Total non-interest expense 43,614 45,833 133,170 127,694
Income before income tax expense 29,643 26,945 89,234 74,229
Income tax expense 9,034 7,913 27,027 21,817
Net income $ 20,609 $ 19,032 $ 62,207 $ 52,412
Basic earnings per share (usd per share) $ 0.33 $ 0.30 $ 0.99 $ 0.88
Weighted average basic shares outstanding (in shares) 63,034,185 62,440,310 62,868,745 59,670,773
Diluted earnings per share (usd per share) $ 0.33 $ 0.30 $ 0.99 $ 0.88
Weighted average diluted shares outstanding (in shares) 63,198,299 62,559,207 63,029,389 59,804,205