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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
INTEREST INCOME        
Loans $ 76,432,000 $ 40,082,000 $ 197,857,000 $ 118,834,000
Federal funds sold 15,000 12,000 118,000 16,000
Investment securities 8,335,000 4,717,000 22,264,000 14,032,000
Mortgage loans held for sale 291,000 269,000 813,000 506,000
Assets held in trading accounts 4,000 3,000 11,000 13,000
Interest bearing balances due from banks 122,000 132,000 561,000 691,000
TOTAL INTEREST INCOME 85,199,000 45,215,000 221,624,000 134,092,000
INTEREST EXPENSE        
Deposits 4,158,000 2,232,000 11,297,000 6,737,000
Federal funds purchased and securities sold under agreements to repurchase 55,000 55,000 177,000 194,000
Other borrowings 1,812,000 996,000 4,014,000 2,995,000
Subordinated debentures 498,000 160,000 1,292,000 477,000
TOTAL INTEREST EXPENSE 6,523,000 3,443,000 16,780,000 10,403,000
NET INTEREST INCOME 78,676,000 41,772,000 204,844,000 123,689,000
Provision for loan losses 1,615,000 1,128,000 5,792,000 3,638,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 77,061,000 40,644,000 199,052,000 120,051,000
NON-INTEREST INCOME        
Trust income 2,215,000 1,838,000 6,536,000 4,929,000
Service charges on deposit accounts 8,488,000 6,238,000 22,881,000 19,098,000
Other service charges and fees 3,089,000 808,000 8,044,000 2,490,000
Mortgage lending income 3,446,000 1,812,000 9,156,000 3,885,000
Investment banking income 663,000 284,000 1,808,000 620,000
Debit and credit card fees 6,879,000 5,769,000 19,013,000 17,213,000
Bank owned life insurance income 748,000 411,000 2,066,000 1,117,000
Gain (loss) on sale of securities 40,000 (18,000) 2,000 20,000
Net (loss) on assets covered by FDIC loss share agreements (9,085,000) (3,744,000) (14,812,000) (17,303,000)
Other income 7,006,000 2,637,000 12,262,000 8,619,000
TOTAL NON-INTEREST INCOME 23,489,000 16,035,000 66,956,000 40,688,000
NON-INTEREST EXPENSE        
Salaries and employee benefits 37,417,000 20,892,000 99,662,000 64,338,000
Occupancy expense, net 4,812,000 3,204,000 13,440,000 10,338,000
Furniture and equipment expense 4,202,000 2,363,000 10,621,000 6,592,000
Other real estate and foreclosure expense 2,297,000 1,864,000 3,694,000 3,112,000
Deposit insurance 1,013,000 877,000 2,979,000 2,630,000
Merger related costs 857,000 3,628,000 12,523,000 6,255,000
Other operating expenses 17,314,000 11,526,000 47,189,000 35,492,000
TOTAL NON-INTEREST EXPENSE 67,912,000 44,354,000 190,108,000 128,757,000
INCOME BEFORE INCOME TAXES 32,638,000 12,325,000 75,900,000 31,982,000
Provision for income taxes 10,963,000 3,537,000 25,395,000 8,933,000
NET INCOME 21,675,000 8,788,000 50,505,000 23,049,000
Preferred stock dividends 77,000   180,000  
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 21,598,000 $ 8,788,000 $ 50,325,000 $ 23,049,000
BASIC EARNINGS PER SHARE (in Dollars per share) $ 0.72 $ 0.52 $ 1.84 $ 1.40
DILUTED EARNINGS PER SHARE (in Dollars per share) [1] $ 0.72 $ 0.52 $ 1.83 $ 1.39
[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 $0.74, producing a difference of $.02 from actual third quarter diluted EPS of $0.72. This difference is based on the direct result of the varying denominator for each period presented.