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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
INTEREST INCOME        
Loans $ 150,253 $ 73,549 $ 293,603 $ 142,277
Interest bearing balances due from banks and federal funds sold 1,414 214 2,423 336
Investment securities 14,296 9,990 26,918 19,441
Mortgage loans held for sale 305 145 463 271
TOTAL INTEREST INCOME 166,268 83,898 323,407 162,325
INTEREST EXPENSE        
Deposits 18,461 4,816 34,058 9,020
Federal funds purchased and securities sold under agreements to repurchase 88 92 198 167
Other borrowings 5,141 1,559 10,280 2,753
Subordinated notes and debentures 5,741 619 7,068 1,193
TOTAL INTEREST EXPENSE 29,431 7,086 51,604 13,133
NET INTEREST INCOME 136,837 76,812 271,803 149,192
Provision for loan losses 9,033 7,023 18,183 11,330
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 127,804 69,789 253,620 137,862
NON-INTEREST INCOME        
Investment banking income 814 637 1,648 1,327
Bank owned life insurance income 1,102 859 2,205 1,677
(Loss) gain on sale of securities, net (7) 2,236 (1) 2,299
Other income 5,202 4,281 9,209 7,902
TOTAL NON-INTEREST INCOME 38,048 35,744 75,583 65,804
NON-INTEREST EXPENSE        
Salaries and employee benefits 55,678 34,205 112,035 69,741
Occupancy expense, net 7,921 4,868 14,881 9,531
Furniture and equipment expense 4,020 4,550 8,423 8,993
Other real estate and foreclosure expense 1,382 517 2,402 1,106
Deposit insurance 1,856 780 3,984 1,460
Merger related costs 1,465 6,603 3,176 7,127
Other operating expenses 26,185 19,885 51,679 39,772
TOTAL NON-INTEREST EXPENSE 98,507 71,408 196,580 137,730
INCOME BEFORE INCOME TAXES 67,345 34,125 132,623 65,936
Provision for income taxes 13,783 11,060 27,749 20,751
NET INCOME $ 53,562 $ 23,065 $ 104,874 $ 45,185
BASIC EARNING PER SHARE (in dollars per share) [1] $ 0.58 $ 0.36 $ 1.14 $ 0.72
DILUTED EARNING PER SHARE (in dollars per share) [1] $ 0.58 $ 0.36 $ 1.13 $ 0.71
Trust income        
NON-INTEREST INCOME        
Non-interest income $ 5,622 $ 4,113 $ 10,871 $ 8,325
Service charges on deposit accounts        
NON-INTEREST INCOME        
Non-interest income 10,063 8,483 20,408 16,585
Other service charges and fees        
NON-INTEREST INCOME        
Non-interest income 2,017 2,515 4,767 4,712
Mortgage and SBA lending income        
NON-INTEREST INCOME        
Non-interest income 3,130 3,961 7,575 6,384
Debit and credit card fees        
NON-INTEREST INCOME        
Non-interest income $ 10,105 $ 8,659 $ 18,901 $ 16,593
[1] All per share amounts have been restated to reflect the effect of the two-for-one stock split on February 8, 2018.