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CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Loans receivable:        
Taxable $ 59,386 $ 52,099 $ 115,743 $ 102,588
Tax exempt 2,492 1,465 4,825 2,780
Investment securities:        
Taxable 4,180 4,202 8,488 8,530
Tax exempt 5,091 4,583 10,094 9,092
Deposits with financial institutions 114 122 158 228
Federal Reserve and Federal Home Loan Bank stock 204 233 393 713
Total Interest Income 71,467 62,704 139,701 123,931
INTEREST EXPENSE        
Deposits 5,137 4,039 9,261 8,102
Federal funds purchased 103 7 331 35
Securities sold under repurchase agreements 110 92 198 192
Federal Home Loan Bank advances 1,177 818 2,155 1,614
Subordinated debentures and term loans 1,840 1,786 3,657 3,571
Total Interest Expense 8,367 6,742 15,602 13,514
NET INTEREST INCOME 63,100 55,962 124,099 110,417
Provision for loan losses 2,875 790 5,260 1,340
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 60,225 55,172 118,839 109,077
OTHER INCOME        
Service charges on deposit accounts 4,438 4,416 8,612 8,561
Fiduciary activities 2,609 2,376 5,249 4,870
Other customer fees 5,406 4,695 10,269 9,754
Increase in cash surrender value of life insurance 817 873 1,715 1,878
Gains on life insurance benefits 2,154 424 2,154 895
Net gains and fees on sales of loans 1,617 1,717 2,892 3,177
Net realized gains on sales of available for sale securities 567 706 1,165 1,703
Other income 826 1,178 1,224 1,384
Total Other Income 18,434 16,385 33,280 32,222
OTHER EXPENSES        
Salaries and employee benefits 27,076 25,570 52,808 52,907
Net occupancy 3,965 4,059 8,181 8,081
Equipment 2,907 3,243 5,714 6,481
Marketing 792 851 1,357 1,588
Outside data processing fees 3,086 2,025 5,702 4,094
Printing and office supplies 275 369 539 733
Core deposit amortization 991 977 1,894 1,955
FDIC assessments 579 1,002 1,149 1,952
Other real estate owned and foreclosure expenses 731 915 1,262 1,666
Professional and other outside services 3,266 1,478 5,000 3,640
Other expenses 3,648 4,346 6,809 8,213
Total Other Expenses 47,316 44,835 90,415 91,310
INCOME BEFORE INCOME TAX 31,343 26,722 61,704 49,989
Income tax expense 7,207 6,716 14,375 12,290
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 24,136 $ 20,006 $ 47,329 $ 37,699
Per Share Data:        
Basic Net Income Available to Common Stockholders (in dollars per share) $ 0.57 $ 0.50 $ 1.14 $ 0.93
Diluted Net Income Available to Common Stockholders (in dollars per share) 0.57 0.49 1.13 0.92
Cash Dividends Paid (in dollars per share) $ 0.18 $ 0.14 $ 0.33 $ 0.25
Average Diluted Shares Outstanding (in shares) 42,243,539 40,969,111 41,735,021 40,941,485