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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income        
Loans, including fees $ 126,365 $ 122,290 $ 249,421 $ 197,210
Investment securities        
Taxable 23,616 20,844 47,851 34,514
Tax-exempt 4,336 4,068 8,594 5,725
Total interest on investment securities 27,952 24,912 56,445 40,239
Other earning assets 206 177 416 284
Total interest income 154,523 147,379 306,282 237,733
Interest expense        
Deposits 20,612 14,794 39,855 25,092
Short-term borrowings 6,646 4,132 12,606 6,795
Long-term borrowings 4,963 4,474 10,004 6,055
Total interest expense 32,221 23,400 62,465 37,942
Net interest income 122,302 123,979 243,817 199,791
Provision for Loan and Lease Losses 6,658 3,735 20,741 6,038
Net interest income after provision for loan and lease losses 115,644 120,244 223,076 193,753
Noninterest income        
Service Charges on Deposit Accounts 9,819 9,568 18,722 14,607
Trust and wealth management fees 3,943 3,697 8,013 7,651
Bankcard income 6,497 5,343 12,083 8,737
Client derivative fees 4,905 1,463 6,609 3,220
Net gain from sales of loans 3,432 2,316 5,322 2,904
Net gain (loss) on sales/transfers of investment securities (37) (30) (215) (30)
Other 6,079 5,899 10,931 8,105
Total noninterest income 34,638 28,256 61,465 45,194
Noninterest expenses        
Salaries and employee benefits 53,985 55,531 101,897 86,633
Net occupancy 5,596 6,631 12,226 11,128
Furniture and equipment 4,222 5,298 7,638 7,338
Data processing 4,984 14,304 10,111 17,976
Marketing 1,976 2,644 3,582 3,445
Communication 747 1,118 1,475 1,577
Professional services 2,039 5,659 4,291 7,857
State intangible tax 1,307 1,078 2,617 1,843
FDIC assessments 1,065 1,323 2,015 2,217
Amortization of Intangible Assets 2,044 2,364 4,089 2,644
Other 6,413 6,805 12,936 12,385
Total noninterest expenses 84,378 102,755 162,877 155,043
Income before income taxes 65,904 45,745 121,664 83,904
Income tax expense 13,201 9,327 23,122 16,980
Net income $ 52,703 $ 36,418 $ 98,542 $ 66,924
Earnings per common share        
Basic $ 0.54 $ 0.37 $ 1.01 $ 0.84
Diluted 0.53 0.37 1.00 0.83
Cash dividends declared per share $ 0.22 $ 0.19 $ 0.44 $ 0.38
Average common shares outstanding - basic 98,083,799 97,347,533 98,005,379 79,599,709
Average common shares outstanding - diluted 98,648,384 98,432,072 98,542,947 80,629,495