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Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
INTEREST INCOME:        
Interest and fees on loans $ 42,749 $ 40,411 $ 123,643 $ 120,700
Interest on investment securities:        
Taxable 8,074 6,775 23,848 21,167
Exempt from federal income tax 11,091 10,808 33,991 32,220
Interest on federal funds sold and interest-bearing deposits in banks 640 99 1,037 222
Total interest income 62,554 58,093 182,519 174,309
INTEREST EXPENSE:        
Interest on deposits 2,228 1,112 5,748 3,197
Other 638 254 978 811
Total interest expense 2,866 1,366 6,726 4,008
Net interest income 59,688 56,727 175,793 170,301
PROVISION FOR LOAN LOSSES 1,415 3,833 5,090 8,219
Net interest income after provision for loan losses 58,273 52,894 170,703 162,082
NONINTEREST INCOME:        
Trust fees 6,040 5,066 17,804 14,446
Service charges on deposit accounts 5,083 4,796 14,517 13,614
ATM, interchange and credit card fees 6,340 6,000 19,102 17,521
Real estate mortgage operations 3,891 4,697 11,496 11,849
Net gain on sale of available-for-sale securities (includes $1,075 and $239 for the three months ended September 30, 2017 and 2016, respectively, and $1,825 and $1,153 for the nine months ended September 30, 2017 and 2016, respectively, related to accumulated other comprehensive earnings reclassifications) 1,075 239 1,825 1,153
Net gain (loss) on sale of foreclosed assets (11) (10) (42) 343
Net gain (loss) on sale of assets (15) (168) (211) 271
Interest on loan recoveries 405 709 896 1,970
Other 1,452 823 3,328 2,243
Total noninterest income 24,260 22,152 68,715 63,410
NONINTEREST EXPENSE:        
Salaries and employee benefits 24,143 22,931 70,867 67,668
Net occupancy expense 2,711 2,672 8,081 7,886
Equipment expense 3,294 3,420 10,397 10,186
FDIC insurance premiums 561 513 1,657 2,155
ATM, interchange and credit card expenses 2,001 1,859 5,517 5,352
Professional and service fees 2,036 1,883 5,878 5,099
Printing, stationery and supplies 449 536 1,423 1,504
Operational and other losses 1,081 533 2,639 1,452
Amortization of intangible assets 143 172 477 570
Other 7,545 7,484 22,955 21,968
Total noninterest expense 43,964 42,003 129,891 123,840
EARNINGS BEFORE INCOME TAXES 38,569 33,043 109,527 101,652
INCOME TAX EXPENSE (includes $376 and $84 for the three months ended September 30, 2017 and 2016, respectively, and $639 and $404 for the nine months ended September 30, 2017 and 2016, respectively, related to income tax expense from reclassification items) 9,195 7,440 25,300 23,544
NET EARNINGS $ 29,374 $ 25,603 $ 84,227 $ 78,108
EARNINGS PER SHARE, BASIC $ 0.44 $ 0.39 $ 1.27 $ 1.18
EARNINGS PER SHARE, ASSUMING DILUTION 0.44 0.39 1.27 1.18
DIVIDENDS PER SHARE $ 0.19 $ 0.18 $ 0.56 $ 0.52