XML 15 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest and dividend income:        
Interest and fees on loans $ 75,948 $ 66,190 $ 216,644 $ 193,884
Interest on deposits in other banks 181 65 367 178
Interest and dividends on securities:        
Taxable 5,175 4,732 15,081 13,558
Nontaxable 3,546 3,446 10,620 10,344
Total interest and dividend income 84,850 74,433 242,712 217,964
Interest expense:        
Interest on deposits 7,234 4,552 18,410 12,945
Interest on short-term borrowings 1,871 765 4,221 2,098
Interest on long-term borrowings 4,547 2,088 13,316 6,386
Total interest expense 13,652 7,405 35,947 21,429
Net interest income 71,198 67,028 206,765 196,535
Provision for credit losses 3,050 2,472 7,345 7,376
Net interest income after provision for credit losses 68,148 64,556 199,420 189,159
Noninterest income:        
Service charges on deposit accounts 5,153 4,965 14,945 14,454
Other service charges and fees 4,529 4,397 13,575 12,971
Fiduciary and asset management fees 2,794 2,844 8,313 7,315
Mortgage banking income, net 2,305 3,207 7,123 8,324
Gains on securities transactions, net 184 0 782 145
Bank owned life insurance income 1,377 1,389 4,837 4,122
Loan-related interest rate swap fees 416 1,303 2,627 3,056
Other operating income 778 845 2,228 2,470
Total noninterest income 17,536 18,950 54,430 52,857
Noninterest expenses:        
Salaries and benefits 29,769 30,493 92,499 87,061
Occupancy expenses 4,939 4,841 14,560 14,627
Furniture and equipment expenses 2,559 2,635 7,882 7,867
Printing, postage, and supplies 1,154 1,147 3,710 3,566
Communications expense 798 948 2,580 2,964
Technology and data processing 4,232 3,917 12,059 11,340
Professional services 1,985 1,895 5,734 6,432
Marketing and advertising expense 1,944 1,975 5,963 5,838
FDIC assessment premiums and other insurance 1,141 1,262 2,793 4,003
Other taxes 2,022 639 6,065 3,864
Loan-related expenses 1,349 1,531 3,959 3,638
OREO and credit-related expenses 1,139 503 2,023 1,965
Amortization of intangible assets 1,480 1,843 4,661 5,468
Training and other personnel costs 887 863 2,900 2,512
Merger-related costs 732 0 3,476 0
Other expenses 1,366 2,421 3,957 5,291
Total noninterest expenses 57,496 56,913 174,821 166,436
Income before income taxes 28,188 26,593 79,029 75,580
Income tax expense 7,530 6,192 21,292 18,881
Net income $ 20,658 $ 20,401 $ 57,737 $ 56,699
Basic earnings per common share (in usd per share) $ 0.47 $ 0.47 $ 1.32 $ 1.29
Diluted earnings per common share (in usd per share) 0.47 0.47 1.32 1.29
Dividends declared per common share (in usd per share) $ 0.20 $ 0.19 $ 0.6 $ 0.57
Basic weighted average number of common shares outstanding (in shares) 43,706,635 43,565,937 43,685,045 43,853,548
Diluted weighted average number of common shares outstanding (in shares) 43,792,058 43,754,915 43,767,502 43,967,725