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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest and fees on loans      
Taxable $ 196,733 $ 181,451 $ 150,295
Tax exempt 951 814 729
Interest and dividends on securities      
Taxable 8,909 9,717 9,218
Tax exempt 7,127 6,079 5,102
Interest on short-term investments 1,490 909 354
Total interest income 215,210 198,970 165,698
Interest on deposits 57,148 44,913 27,026
Interest on borrowings      
Short-term 1,311 1,143 1,446
Long-term 1,704 1,643 1,334
Total interest expense 60,163 47,699 29,806
NET INTEREST INCOME 155,047 151,271 135,892
Provision for loan losses 3,235 6,400 3,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 151,812 144,871 132,892
NONINTEREST INCOME      
Wealth advisory fees 6,835 6,344 5,481
Investment brokerage fees 1,687 1,458 1,273
Service charges on deposit accounts 15,717 15,831 13,696
Loan and service fees 9,911 9,291 7,900
Merchant and interchange fee income 2,641 2,461 2,279
Bank owned life insurance income 1,890 1,244 1,768
Mortgage banking income 1,626 1,150 982
Net securities gains (losses) 142 (50) 32
Other income 4,548 2,573 2,629
Total noninterest income 44,997 40,302 36,040
NONINTEREST EXPENSE      
Salaries and employee benefits 49,434 48,353 45,306
Net occupancy expense 5,295 5,149 4,595
Equipment costs 5,521 5,243 4,629
Data processing fees and supplies 10,407 9,685 8,233
Corporate and business development 4,371 5,066 4,744
FDIC insurance and other regulatory fees 638 1,701 1,798
Professional fees 4,644 3,798 3,574
Other expense 9,114 7,234 6,419
Total noninterest expense 89,424 86,229 79,298
INCOME BEFORE INCOME TAX EXPENSE 107,385 98,944 89,634
Income tax expense 20,338 18,533 32,304
NET INCOME $ 87,047 $ 80,411 $ 57,330
BASIC WEIGHTED AVERAGE COMMON SHARES 25,588,404 25,288,533 25,181,208
BASIC EARNINGS PER COMMON SHARE $ 3.40 $ 3.18 $ 2.28
DILUTED WEIGHTED AVERAGE COMMON SHARES 25,758,893 25,727,831 25,663,381
DILUTED EARNINGS PER COMMON SHARE $ 3.38 $ 3.13 $ 2.23