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Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
INTEREST INCOME:        
Interest and fees on loans $ 39,942 $ 36,034 $ 80,289 $ 71,095
Interest on investment securities:        
Taxable 7,130 7,399 14,392 15,207
Exempt from federal income tax 10,745 9,861 21,411 18,981
Interest on federal funds sold and interest-bearing deposits in banks 64 50 124 130
Total interest income 57,881 53,344 116,216 105,413
INTEREST EXPENSE:        
Interest on deposits 1,033 902 2,086 1,829
Other 297 106 556 148
Total interest expense 1,330 1,008 2,642 1,977
Net interest income 56,551 52,336 113,574 103,436
PROVISION FOR LOAN LOSSES 2,058 1,554 4,386 2,844
Net interest income after provision for loan losses 54,493 50,782 109,188 100,592
NONINTEREST INCOME:        
Trust fees 4,726 4,740 9,380 9,472
Service charges on deposit accounts 4,404 4,021 8,818 7,789
ATM, interchange and credit card fees 5,840 5,445 11,521 10,415
Real estate mortgage operations 4,013 2,098 7,153 3,580
Net gain on sale of available-for-sale securities (includes $912 and $239 for the three months ended June 30, 2016 and 2015, respectively, and $914 and $244 for the six months ended June 30, 2016 and 2015, respectively, related to accumulated other comprehensive earnings reclassifications) 912 239 914 244
Net gain (loss) on sale of foreclosed assets 278 (49) 353 (19)
Net gain (loss) on sale of assets (74) (4) 439 1
Interest on loan recoveries 629 403 1,261 510
Other 710 916 1,419 1,715
Total noninterest income 21,438 17,809 41,258 33,707
NONINTEREST EXPENSE:        
Salaries and employee benefits 22,147 19,173 44,737 37,438
Net occupancy expense 2,583 2,394 5,214 4,590
Equipment expense 3,386 2,992 6,766 5,891
FDIC insurance premiums 818 749 1,642 1,498
ATM, interchange and credit card expenses 1,806 1,609 3,492 3,335
Professional and service fees 1,650 1,157 3,215 2,222
Printing, stationery and supplies 464 471 967 1,067
Amortization of intangible assets 199 72 398 162
Other 7,703 6,587 15,405 12,948
Total noninterest expense 40,756 35,204 81,836 69,151
EARNINGS BEFORE INCOME TAXES 35,175 33,387 68,610 65,148
INCOME TAX EXPENSE (includes $319 and $84 for the three months ended June 30, 2016 and 2015, respectively, and $320 and $85 for the six months ended June 30, 2016 and 2015, respectively, related to income tax expense from reclassification items) 8,366 8,080 16,105 15,845
NET EARNINGS $ 26,809 $ 25,307 $ 52,505 $ 49,303
EARNINGS PER SHARE, BASIC $ 0.41 $ 0.39 $ 0.80 $ 0.77
EARNINGS PER SHARE, ASSUMING DILUTION 0.41 0.39 0.79 0.77
DIVIDENDS PER SHARE $ 0.18 $ 0.16 $ 0.34 $ 0.30