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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
INTEREST INCOME        
Loans $ 70,438,000 $ 38,622,000 $ 121,424,000 $ 78,753,000
Federal funds sold 73,000 2,000 102,000 3,000
Investment securities 8,050,000 4,766,000 13,929,000 9,315,000
Mortgage loans held for sale 375,000 168,000 522,000 237,000
Assets held in trading accounts 4,000 5,000 8,000 10,000
Interest bearing balances due from banks 229,000 279,000 439,000 558,000
TOTAL INTEREST INCOME 79,169,000 43,842,000 136,424,000 88,876,000
INTEREST EXPENSE        
Deposits 4,195,000 2,235,000 7,139,000 4,505,000
Federal funds purchased and securities sold under agreements to repurchase 57,000 31,000 121,000 84,000
Other borrowings 1,151,000 988,000 2,203,000 1,998,000
Subordinated debentures 559,000 160,000 793,000 317,000
TOTAL INTEREST EXPENSE 5,962,000 3,414,000 10,256,000 6,904,000
NET INTEREST INCOME 73,207,000 40,428,000 126,168,000 81,972,000
Provision for loan losses 3,006,000 1,602,000 4,177,000 2,510,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 70,201,000 38,826,000 121,991,000 79,462,000
NON-INTEREST INCOME        
Trust income 2,070,000 1,553,000 4,321,000 3,091,000
Service charges on deposit accounts 8,031,000 6,792,000 14,394,000 12,860,000
Other service charges and fees 3,130,000 859,000 4,955,000 1,684,000
Mortgage lending income 3,449,000 1,262,000 5,710,000 2,074,000
Investment banking income 593,000 154,000 1,487,000 336,000
Debit and credit card fees 6,486,000 5,801,000 12,134,000 11,444,000
Bank owned life insurance income 746,000 377,000 1,318,000 705,000
Gain (loss) on sale of securities   38,000 (38,000) 38,000
Net (loss) on assets covered by FDIC loss share agreements (3,056,000) (6,268,000) (5,727,000) (13,639,000)
Other income 3,863,000 4,820,000 5,253,000 5,984,000
TOTAL NON-INTEREST INCOME 25,312,000 15,388,000 43,807,000 24,577,000
NON-INTEREST EXPENSE        
Salaries and employee benefits 35,475,000 20,982,000 62,246,000 43,447,000
Occupancy expense, net 5,051,000 3,285,000 8,627,000 7,155,000
Furniture and equipment expense 3,241,000 2,215,000 6,420,000 4,229,000
Other real estate and foreclosure expense 1,017,000 375,000 1,398,000 1,248,000
Deposit insurance 1,096,000 1,085,000 1,966,000 1,753,000
Merger related costs 1,247,000 1,354,000 11,666,000 2,627,000
Other operating expenses 18,041,000 10,546,000 30,213,000 23,923,000
TOTAL NON-INTEREST EXPENSE 65,168,000 39,842,000 122,536,000 84,382,000
INCOME BEFORE INCOME TAXES 30,345,000 14,372,000 43,262,000 19,657,000
Provision for income taxes 10,250,000 4,464,000 14,432,000 5,396,000
NET INCOME 20,095,000 9,908,000 28,830,000 14,261,000
Preferred stock dividends 77,000   103,000  
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 20,018,000 $ 9,908,000 $ 28,727,000 $ 14,261,000
BASIC EARNINGS PER SHARE (in Dollars per share) $ 0.67 $ 0.61 $ 1.10 $ 0.88
DILUTED EARNINGS PER SHARE (in Dollars per share) [1] $ 0.67 $ 0.60 $ 1.10 $ 0.87
[1] EPS are computed independently for each quarter and therefore the sum of each quarterly EPS may not equal the year-to-date EPS. As a result of the large stock issuances during 2015 as part of the Company's acquisitions, the computed independent quarterly average common shares outstanding and the computed year-to-date average common shares differ significantly. For purposes of calculating a roll-forward amount for year-to-date EPS, diluted EPS for the second quarter would require a computed amount of $0.71, producing a difference of $.04 from actual second quarter diluted EPS of $0.67. This difference is based on the direct result of the varying denominator for each period presented.