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CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Loans receivable:        
Taxable $ 71,491 $ 53,819 $ 187,234 $ 156,407
Tax exempt 2,851 1,649 7,676 4,429
Investment securities:        
Taxable 4,524 3,992 13,012 12,522
Tax exempt 5,455 4,668 15,549 13,760
Deposits with financial institutions 284 55 442 283
Federal Reserve and Federal Home Loan Bank stock 242 193 635 906
Total Interest Income 84,847 64,376 224,548 188,307
INTEREST EXPENSE        
Deposits 6,710 3,926 15,971 12,028
Federal funds purchased 175 27 506 62
Securities sold under repurchase agreements 133 91 331 283
Federal Home Loan Bank advances 1,464 853 3,619 2,467
Subordinated debentures and term loans 1,945 1,797 5,602 5,368
Total Interest Expense 10,427 6,694 26,029 20,208
NET INTEREST INCOME 74,420 57,682 198,519 168,099
Provision for loan losses 2,083 1,900 7,343 3,240
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 72,337 55,782 191,176 164,859
OTHER INCOME        
Service charges on deposit accounts 5,044 4,667 13,656 13,228
Fiduciary activities 2,995 2,448 8,244 7,318
Other customer fees 5,341 4,777 15,610 14,531
Increase in cash surrender value of life insurance 1,058 906 2,773 2,784
Gains on life insurance benefits 517 (292) 2,671 603
Net gains and fees on sales of loans 2,317 1,989 5,209 5,166
Net realized gains on sales of available for sale securities 332 839 1,497 2,542
Other income 1,064 1,527 2,288 2,911
Total Other Income 18,668 16,861 51,948 49,083
OTHER EXPENSES        
Salaries and employee benefits 33,244 26,651 86,052 79,558
Net occupancy 4,371 4,348 12,552 12,429
Equipment 3,478 2,947 9,192 9,428
Marketing 1,021 630 2,378 2,218
Outside data processing fees 3,162 2,382 8,864 6,476
Printing and office supplies 366 314 905 1,047
Intangible asset amortization 1,698 978 3,592 2,933
FDIC assessments 704 534 1,853 2,486
Other real estate owned and foreclosure expenses 330 637 1,592 2,303
Professional and other outside services 5,843 1,242 10,843 4,882
Other expenses 4,491 3,452 11,300 11,665
Total Other Expenses 58,708 44,115 149,123 135,425
INCOME BEFORE INCOME TAX 32,297 28,528 94,001 78,517
Income tax expense 7,939 7,469 22,314 19,759
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 24,358 $ 21,059 $ 71,687 $ 58,758
Per Share Data:        
Basic Net Income Available to Common Stockholders (in dollars per share) $ 0.50 $ 0.51 $ 1.64 $ 1.44
Diluted Net Income Available to Common Stockholders (in dollars per share) 0.50 0.51 1.63 1.43
Cash Dividends Paid (in dollars per share) $ 0.18 $ 0.14 $ 0.51 $ 0.39
Average Diluted Shares Outstanding (in shares) 48,643,774 41,025,784 44,063,219 40,970,215