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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
INTEREST INCOME        
Loans $ 178,122 $ 150,253 $ 337,562 $ 293,603
Interest bearing balances due from banks and federal funds sold 1,121 1,414 3,275 2,423
Investment securities 16,594 14,296 33,906 26,918
Mortgage loans held for sale 332 305 542 463
TOTAL INTEREST INCOME 196,169 166,268 375,285 323,407
INTEREST EXPENSE        
Deposits 34,796 18,461 65,546 34,058
Federal funds purchased and securities sold under agreements to repurchase 257 88 393 198
Other borrowings 6,219 5,141 13,012 10,280
Subordinated notes and debentures 4,541 5,741 8,952 7,068
TOTAL INTEREST EXPENSE 45,813 29,431 87,903 51,604
NET INTEREST INCOME 150,356 136,837 287,382 271,803
Provision for loan losses 7,079 9,033 16,364 18,183
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 143,277 127,804 271,018 253,620
NON-INTEREST INCOME        
Investment banking income 360 814 978 1,648
Bank owned life insurance income 1,260 1,102 2,055 2,205
Gain (loss) on sale of securities, net 2,823 (7) 5,563 (1)
Other income 5,137 5,202 8,262 9,209
TOTAL NON-INTEREST INCOME 39,006 38,048 72,767 75,583
NON-INTEREST EXPENSE        
Salaries and employee benefits 56,128 55,678 112,495 112,035
Occupancy expense, net 6,919 7,921 14,394 14,881
Furniture and equipment expense 4,206 4,020 7,564 8,423
Other real estate and foreclosure expense 591 1,382 1,228 2,402
Deposit insurance 2,510 1,856 4,550 3,984
Merger related costs 7,522 1,465 8,992 3,176
Other operating expenses 32,867 26,185 62,929 51,679
TOTAL NON-INTEREST EXPENSE 110,743 98,507 212,152 196,580
INCOME BEFORE INCOME TAXES 71,540 67,345 131,633 132,623
Provision for income taxes 15,616 13,783 28,014 27,749
NET INCOME 55,924 53,562 103,619 104,874
Preferred stock dividends 326 0 326 0
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 55,598 $ 53,562 $ 103,293 $ 104,874
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.58 $ 0.58 $ 1.10 $ 1.14
DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.58 $ 0.58 $ 1.09 $ 1.13
Trust income        
NON-INTEREST INCOME        
Non-interest income $ 5,794 $ 5,622 $ 11,502 $ 10,871
Service charges on deposit accounts        
NON-INTEREST INCOME        
Non-interest income 10,557 10,063 20,625 20,408
Other service charges and fees        
NON-INTEREST INCOME        
Non-interest income 1,312 2,017 2,601 4,767
Mortgage lending income        
NON-INTEREST INCOME        
Non-interest income 3,656 2,780 6,479 6,252
SBA lending income        
NON-INTEREST INCOME        
Non-interest income 895 350 1,392 1,323
Debit and credit card fees        
NON-INTEREST INCOME        
Non-interest income $ 7,212 $ 10,105 $ 13,310 $ 18,901