XML 14 R4.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 96,415 $ 78,538 $ 191,917 $ 147,671
Interest and dividends on securities:        
Taxable 16,444 14,194 33,175 25,738
Tax-exempt 5,142 5,055 10,684 9,890
Total interest and dividends on securities 21,586 19,249 43,859 35,628
Other interest income 1,542 1,101 2,820 1,904
Total interest and dividend income 119,543 98,888 238,596 185,203
INTEREST EXPENSE        
Interest bearing demand deposits 4,314 3,150 8,259 5,673
Money market deposits 2,009 1,093 3,908 1,972
Savings deposits 678 227 1,200 416
Certificates of deposit 4,098 2,977 8,001 5,513
Total interest expense on deposits 11,099 7,447 21,368 13,574
Federal Home Loan Bank borrowings 6,287 5,953 12,624 10,451
Other short-term borrowings 1,483 973 3,039 1,532
Subordinated debt and junior subordinated debt 2,214 2,168 4,743 4,110
Total interest expense 21,083 16,541 41,774 29,667
NET INTEREST INCOME 98,460 82,347 196,822 155,536
Provision for credit losses 2,747 1,708 5,254 3,876
Net interest income after provision for credit losses 95,713 80,639 191,568 151,660
NON-INTEREST INCOME        
Electronic banking fees 7,154 5,728 13,046 10,558
Net securities brokerage revenue 1,973 1,809 3,833 3,479
Bank-owned life insurance 1,340 1,128 2,659 3,884
Mortgage banking income 1,618 1,670 2,674 2,776
Net securities gains 2,909 358 3,566 319
Net gain on other real estate owned and other assets 376 229 512 491
Other income 3,250 1,588 6,438 3,760
Total non-interest income 31,156 23,408 58,929 47,491
NON-INTEREST EXPENSE        
Salaries and wages 31,646 26,872 62,585 51,878
Employee benefits 9,705 7,965 19,694 14,877
Net occupancy 5,385 4,103 10,951 8,759
Equipment 4,818 4,095 9,651 8,044
Marketing 1,254 1,405 2,497 2,521
FDIC insurance 1,155 868 2,508 1,526
Amortization of intangible assets 2,465 1,312 4,978 2,397
Restructuring and merger-related expense 81 5,412 3,188 5,657
Other operating expenses 15,443 11,511 30,333 22,455
Total non-interest expense 71,952 63,543 146,385 118,114
Income before provision for income taxes 54,917 40,504 104,112 81,037
Provision for income taxes 10,103 7,335 18,961 14,339
NET INCOME $ 44,814 $ 33,169 $ 85,151 $ 66,698
EARNINGS PER COMMON SHARE        
Basic $ 0.82 $ 0.71 $ 1.56 $ 1.47
Diluted $ 0.82 $ 0.71 $ 1.56 $ 1.47
AVERAGE COMMON SHARES OUTSTANDING        
Basic 54,628,029 46,498,305 54,613,346 45,281,264
Diluted 54,733,521 46,639,780 54,724,209 45,417,010
DIVIDENDS DECLARED PER COMMON SHARE $ 0.31 $ 0.29 $ 0.62 $ 0.58
COMPREHENSIVE INCOME $ 67,025 $ 26,893 $ 127,135 $ 45,904
Total Trust Fees [Member]        
NON-INTEREST INCOME        
NON-INTEREST INCOME 6,339 5,752 13,454 12,255
Service Charges on Deposits [Member]        
NON-INTEREST INCOME        
NON-INTEREST INCOME $ 6,197 $ 5,146 $ 12,747 $ 9,969