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CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Loans receivable:        
Taxable $ 53,819 $ 46,037 $ 156,407 $ 134,908
Tax exempt 1,649 1,190 4,429 2,174
Investment securities:        
Taxable 3,992 4,374 12,522 13,522
Tax exempt 4,668 4,412 13,760 12,478
Deposits with financial institutions 55 25 283 93
Federal Reserve and Federal Home Loan Bank stock 193 500 906 1,509
Total Interest Income 64,376 56,538 188,307 164,684
INTEREST EXPENSE        
Deposits 3,926 3,715 12,028 10,917
Federal funds purchased 27 27 62 69
Securities sold under repurchase agreements 91 96 283 264
Federal Home Loan Bank advances 853 711 2,467 2,108
Subordinated debentures and term loans 1,797 1,666 5,368 4,996
Total Interest Expense 6,694 6,215 20,208 18,354
NET INTEREST INCOME 57,682 50,323 168,099 146,330
Provision for loan losses 1,900 3,240 417
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 55,782 50,323 164,859 145,913
OTHER INCOME        
Service charges on deposit accounts 4,667 4,445 13,228 12,083
Fiduciary activities 2,448 2,242 7,318 7,058
Other customer fees 4,777 4,156 14,531 12,425
Commission income 4 4,147
Earnings on cash surrender value of life insurance 614 710 3,387 2,097
Net gains and fees on sales of loans 1,989 1,905 5,166 5,175
Net realized gains on sales of available for sale securities 839 1,115 2,542 2,047
Gain on sale of insurance subsidiary 8,265
Other income 1,527 1,755 2,911 2,540
Total Other Income 16,861 16,332 49,083 55,837
OTHER EXPENSES        
Salaries and employee benefits 26,651 25,137 79,558 76,112
Net occupancy 4,348 3,726 12,429 11,019
Equipment 2,947 2,698 9,428 8,104
Marketing 630 847 2,218 2,578
Outside data processing fees 2,382 1,992 6,476 5,477
Printing and office supplies 314 343 1,047 1,010
Core deposit amortization 978 693 2,933 2,143
FDIC assessments 534 958 2,486 2,716
Other real estate owned and foreclosure expenses 637 1,675 2,303 2,917
Professional and other outside services 1,242 1,686 4,882 6,311
Other expenses 3,452 3,276 11,665 10,909
Total Other Expenses 44,115 43,031 135,425 129,296
INCOME BEFORE INCOME TAX 28,528 23,624 78,517 72,454
Income tax expense 7,469 6,557 19,759 21,247
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 21,059 $ 17,067 $ 58,758 $ 51,207
Per Share Data:        
Basic Net Income Available to Common Stockholders (in dollars per share) $ 0.51 $ 0.46 $ 1.44 $ 1.36
Diluted Net Income Available to Common Stockholders (in dollars per share) 0.51 0.45 1.43 1.35
Cash Dividends Paid (in dollars per share) $ 0.14 $ 0.11 $ 0.39 $ 0.3
Average Diluted Shares Outstanding (in shares) 41,025,784 38,118,199 40,970,215 38,053,986