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Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest Income        
Investment securities $ 22,437 $ 22,794 $ 67,355 $ 71,002
Residential real estate loans 7,878 7,950 23,581 22,257
Commercial loans 42,137 37,387 121,857 107,696
Consumer and other loans 7,915 7,559 23,677 22,785
Total interest income 80,367 75,690 236,470 223,740
Interest Expense        
Deposits 3,947 3,027 12,206 9,177
Securities sold under agreements to repurchase 261 225 734 627
Federal Home Loan Bank advances 2,273 2,356 6,685 7,317
Other borrowed funds 21 34 63 135
Subordinated debentures 807 788 2,372 2,342
Total interest expense 7,309 6,430 22,060 19,598
Net Interest Income 73,058 69,260 214,410 204,142
Provision for loan losses 826 360 1,873 1,721
Net interest income after provision for loan losses 72,232 68,900 212,537 202,421
Non-Interest Income        
Service charges and other fees 14,975 14,319 42,277 40,085
Miscellaneous loan fees and charges 1,055 1,342 3,354 3,571
Gain on sale of loans 7,326 6,000 20,356 14,373
Loss on sale of investments (31) (61) (124) (160)
Other income 2,474 2,832 8,431 8,455
Total non-interest income 25,799 24,432 74,294 66,324
Non-Interest Expense        
Compensation and employee benefits 33,534 30,142 98,507 87,764
Occupancy and equipment 7,887 6,961 23,059 20,307
Advertising and promotions 2,459 2,141 6,626 5,866
Data processing 1,258 1,472 4,100 4,792
Other real estate owned 1,047 602 3,182 1,675
Regulatory assessments and insurance 1,478 1,435 3,789 4,055
Core deposit intangibles amortization 720 692 2,206 2,095
Other expenses 10,729 10,793 33,085 30,427
Total non-interest expense 59,112 54,238 174,554 156,981
Income Before Income Taxes 38,919 39,094 112,277 111,764
Federal and state income tax expense 9,305 9,800 25,658 27,063
Net Income $ 29,614 $ 29,294 $ 86,619 $ 84,701
Basic earnings per share $ 0.39 $ 0.40 $ 1.15 $ 1.14
Diluted earnings per share 0.39 0.40 1.15 1.14
Dividends declared per share $ 0.19 $ 0.17 $ 0.56 $ 0.50
Average outstanding shares - basic 75,531,923 74,631,317 75,424,147 74,512,806
Average outstanding shares - diluted 75,586,453 74,676,124 75,469,355 74,554,263