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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest income:        
Interest and fees on loans $ 67,164 $ 58,504 $ 192,071 $ 169,258
Interest on mortgage-backed securities 6,662 4,955 18,251 14,132
Interest and dividends on investment securities:        
Taxable 14 14 47 137
Tax-exempt 1,065 1,125 3,260 3,387
Other interest income 510 412 1,550 1,256
Total interest income 75,415 65,010 215,179 188,170
Interest expense:        
Interest on deposits 7,977 3,862 19,585 10,278
Interest on senior debt 1,179 1,807 3,538 6,049
Interest on Federal Home Loan Bank advances 2,097 2,402 7,096 6,057
Interest on federal funds purchased and securities sold under agreements to repurchase 381 273 1,261 709
Interest on trust preferred borrowings 677 500 1,871 1,418
Interest on other borrowings 7 37 28 113
Total interest expense 12,318 8,881 33,379 24,624
Net interest income 63,097 56,129 181,800 163,546
Provision for loan losses 3,716 2,896 9,864 6,901
Net interest income after provision for loan losses 59,381 53,233 171,936 156,645
Noninterest income:        
Securities gains, net 0 736 21 1,764
Unrealized gains on equity investments 3,249 0 18,595 0
Realized gain on sale of equity investment 3,757 0 3,757 0
Loan fee income 693 483 1,859 1,483
Bank owned life insurance income 96 546 328 1,124
Total non interest income 41,901 32,441 124,355 92,209
Noninterest expense:        
Salaries, benefits and other compensation 30,641 29,172 91,438 86,231
Occupancy expense 4,697 4,756 14,953 14,602
Equipment expense 3,258 2,922 9,523 9,544
Data processing and operations expenses 1,962 1,817 5,765 5,185
Professional fees 2,358 2,248 6,403 6,552
Marketing expense 1,499 712 3,341 2,268
Early extinguishment of debt 0 695 0 695
FDIC expenses 518 560 1,632 1,683
Loan workout and OREO expenses (19) 484 1,088 1,504
Corporate development expense 3,794 153 4,251 857
(Recovery of) provision for legal settlement (7,938) 0 (7,938) 0
(Recovery of) provision for fraud loss (10) 0 (1,675) 0
Other operating expense 11,694 10,644 34,916 29,275
Total non interest expenses 52,454 54,163 163,697 158,396
Income before taxes 48,828 31,511 132,594 90,458
Income tax provision 9,893 10,942 27,569 30,382
Net income $ 38,935 $ 20,569 $ 105,025 $ 60,076
Earnings per share:        
Basic (in dollars per share) $ 1.22 $ 0.65 $ 3.32 $ 1.91
Diluted (in dollars per share) $ 1.20 $ 0.64 $ 3.26 $ 1.86
Credit/debit card and ATM income        
Noninterest income:        
Deposit service charges $ 11,239 $ 9,350 $ 31,753 $ 26,406
Investment management and fiduciary income        
Noninterest income:        
Deposit service charges 10,029 8,809 29,462 25,683
Deposit service charges        
Noninterest income:        
Deposit service charges 4,670 4,695 13,964 13,652
Mortgage banking activities, net        
Noninterest income:        
Deposit service charges 1,509 1,756 4,938 4,785
Other income        
Noninterest income:        
Deposit service charges $ 6,659 $ 6,066 $ 19,678 $ 17,312