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Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest Income        
Investment securities $ 23,037 $ 21,959 $ 46,920 $ 44,918
Residential real estate loans 8,124 7,942 16,409 15,703
Commercial loans 47,002 40,698 91,505 79,720
Consumer and other loans 7,906 8,018 15,616 15,762
Total interest income 86,069 78,617 170,450 156,103
Interest Expense        
Deposits 4,560 4,112 9,355 8,259
Securities sold under agreements to repurchase 275 232 593 473
Federal Home Loan Bank advances 1,665 2,217 3,317 4,412
Other borrowed funds 14 15 32 42
Subordinated debentures 910 793 1,802 1,565
Total interest expense 7,424 7,369 15,099 14,751
Net Interest Income 78,645 71,248 155,351 141,352
Provision for loan losses 0 282 568 1,047
Net interest income after provision for loan losses 78,645 70,966 154,783 140,305
Non-Interest Income        
Service charges and other fees 15,772 15,062 30,453 28,511
Miscellaneous loan fees and charges 1,163 1,142 2,184 2,299
Gain on sale of loans 8,257 7,600 14,249 13,030
Loss on sale of investments (220) (98) (112) (93)
Other income 1,787 2,096 4,237 4,748
Total non-interest income 26,759 25,802 51,011 48,495
Non-Interest Expense        
Compensation and employee benefits 37,560 32,729 74,501 64,973
Occupancy and equipment 6,443 6,432 13,119 12,492
Advertising and promotions 2,085 2,240 4,210 4,167
Data processing 3,938 2,971 7,311 5,522
Other real estate owned 214 1,377 604 2,135
Regulatory assessments and insurance 1,066 1,006 2,574 2,311
Core deposit intangibles amortization 788 755 1,585 1,486
Other expenses 12,367 12,435 22,913 22,356
Total non-interest expense 64,461 59,945 126,817 115,442
Income Before Income Taxes 40,943 36,823 78,977 73,358
Federal and state income tax expense 10,492 7,488 19,844 16,353
Net Income $ 30,451 $ 29,335 $ 59,133 $ 57,005
Basic earnings per share $ 0.40 $ 0.39 $ 0.78 $ 0.76
Diluted earnings per share 0.40 0.39 0.78 0.76
Dividends declared per share $ 0.20 $ 0.19 $ 0.40 $ 0.37
Average outstanding shares - basic 76,170,734 75,530,591 76,148,493 75,369,366
Average outstanding shares - diluted 76,205,069 75,565,655 76,191,655 75,407,621