XML 20 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income        
Interest and fees on loans $ 175,345 $ 117,010 $ 346,587 $ 229,411
Interest on taxable securities 9,347 9,383 19,429 18,426
Interest on nontaxable securities 157 102 314 258
Interest on deposits in other banks and federal funds sold 169 2,533 1,456 5,862
Total interest income 185,018 129,028 367,786 253,957
Interest expense        
Interest on deposits 14,273 23,454 38,375 45,138
Interest on other borrowings 6,931 3,923 17,652 7,773
Total interest expense 21,204 27,377 56,027 52,911
Net interest income 163,814 101,651 311,759 201,046
Provision for loan losses 68,449 4,668 105,496 8,076
Provision for unfunded commitments 19,712 0 23,712 0
Provision for credit losses 88,161 4,668 129,208 8,076
Net interest income after provision for credit losses 75,653 96,983 182,551 192,970
Noninterest income        
Service charges on deposit accounts 9,922 12,168 21,766 23,814
Mortgage banking activity 104,925 18,523 140,258 33,200
Other service charges, commissions and fees 1,130 803 2,258 1,592
Net gain on securities 14 69 5 135
Other noninterest income 4,969 3,673 11,052 7,266
Total noninterest income 120,960 35,236 175,339 66,007
Noninterest expense        
Salaries and employee benefits 95,168 38,331 171,114 76,663
Occupancy and equipment expense 13,807 7,834 25,835 16,038
Data processing and communications expenses 10,514 8,388 22,468 16,779
Credit resolution-related expenses 950 979 3,148 1,890
Advertising and marketing expense 1,455 1,987 3,813 3,728
Amortization of intangible assets 5,601 3,121 11,232 6,253
Merger and conversion charges 895 3,475 1,435 5,532
Other noninterest expenses 27,378 17,136 54,776 29,793
Total noninterest expense 155,768 81,251 293,821 156,676
Income before income tax expense 40,845 50,968 64,069 102,301
Income tax expense 8,609 12,064 12,511 23,492
Net income 32,236 38,904 51,558 78,809
Other comprehensive income        
Net unrealized holding gains (losses) arising during period on investment securities available for sale, net of tax expense (benefit) of $(13), $4,765, $5,743 and $5,793 (49) 17,927 21,604 21,794
Reclassification adjustment for gains on investment securities included in earnings, net of tax of $0, $13, $0 and $25 0 (48) 0 (94)
Unrealized gains (losses) on cash flow hedges arising during period, net of tax expense (benefit) of $30, $(64), $4 and $(110) 111 (239) 14 (412)
Other comprehensive income 62 17,640 21,618 21,288
Total comprehensive income $ 32,298 $ 56,544 $ 73,176 $ 100,097
Basic earnings per common share (in dollars per share) $ 0.47 $ 0.82 $ 0.74 $ 1.66
Diluted earnings per common share (in dollars per share) $ 0.47 $ 0.82 $ 0.74 $ 1.66
Weighted average common shares outstanding (in thousands)        
Basic (in shares) 69,192 47,311 69,235 47,354
Diluted (in shares) 69,293 47,338 69,413 47,395