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CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Loans receivable:        
Taxable $ 92,824 $ 84,663 $ 183,305 $ 162,930
Tax exempt 4,244 3,632 8,397 7,228
Investment securities:        
Taxable 6,998 5,434 13,093 10,530
Tax exempt 7,454 6,246 14,325 12,372
Deposits with financial institutions 784 633 1,659 764
Federal Home Loan Bank stock 335 263 673 667
Total Interest Income 112,639 100,871 221,452 194,491
INTEREST EXPENSE        
Deposits 23,087 12,165 42,681 21,167
Federal funds purchased 117 61 210 441
Securities sold under repurchase agreements 342 172 672 345
Federal Home Loan Bank advances 1,692 1,845 3,506 4,004
Subordinated debentures and term loans 2,123 2,057 4,239 4,047
Total Interest Expense 27,361 16,300 51,308 30,004
NET INTEREST INCOME 85,278 84,571 170,144 164,487
Provision for loan losses 500 1,663 1,700 4,163
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 84,778 82,908 168,444 160,324
OTHER INCOME        
Increase in cash surrender value of life insurance 927 907 1,916 1,985
Gains on life insurance benefits 19 100 19 198
Net gains and fees on sales of loans 1,736 1,600 3,031 3,421
Net realized gains on sales of available for sale securities 1,843 1,122 2,983 2,731
Other income 1,064 681 1,394 1,185
Total Other Income 21,614 18,191 40,327 37,752
OTHER EXPENSES        
Salaries and employee benefits 32,709 32,192 65,737 64,418
Net occupancy 4,469 4,348 9,496 9,018
Equipment 4,117 3,556 7,759 7,224
Marketing 2,752 1,474 3,826 2,358
Outside data processing fees 3,929 3,462 7,613 6,426
Printing and office supplies 334 324 649 658
Intangible asset amortization 1,520 1,718 3,048 3,444
FDIC assessments 678 711 1,385 1,430
Other real estate owned and foreclosure expenses 903 362 2,068 764
Professional and other outside services 2,376 1,789 4,260 3,330
Other expenses 3,800 3,568 8,367 8,121
Total Other Expenses 57,587 53,504 114,208 107,191
INCOME BEFORE INCOME TAX 48,805 47,595 94,563 90,885
Income tax expense 7,749 7,961 14,690 14,572
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 41,056 $ 39,634 $ 79,873 $ 76,313
Per Share Data:        
Basic Net Income Available to Common Stockholders (in dollars per share) $ 0.83 $ 0.80 $ 1.62 $ 1.55
Diluted Net Income Available to Common Stockholders (in dollars per share) 0.83 0.80 1.61 1.54
Cash Dividends Paid (in dollars per share) $ 0.26 $ 0.22 $ 0.48 $ 0.40
Average Diluted Shares Outstanding (in shares) 49,549,887 49,451,406 49,545,152 49,440,045
Service charges on deposit accounts        
OTHER INCOME        
Other income $ 5,437 $ 5,038 $ 10,532 $ 9,815
Fiduciary and wealth management fees        
OTHER INCOME        
Other income 3,931 3,595 7,749 7,391
Card payment fees        
OTHER INCOME        
Other income 4,829 4,462 9,655 9,056
Other customer fees        
OTHER INCOME        
Other income 341 455 780 897
Derivative hedge fees        
OTHER INCOME        
Other income $ 1,487 $ 231 $ 2,268 $ 1,073