XML 68 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
INTEREST INCOME:        
Interest and fees on loans and leases $ 55,824 $ 48,101 $ 108,873 $ 94,485
Interest on securities:        
Taxable 6,739 7,447 13,871 15,208
Nontaxable 2,874 3,708 5,790 6,830
Interest on federal funds sold 1 0 2 0
Interest on interest bearing deposits in other financial institutions 3 7 7 14
TOTAL INTEREST INCOME 65,441 59,263 128,543 116,537
INTEREST EXPENSE:        
Interest on deposits 3,819 4,577 7,991 9,355
Interest on short-term borrowings 212 202 410 428
Interest on other borrowings (includes $559 and $573 of interest expense related to derivatives reclassified from accumulated other comprehensive income for the three months ended June 30, 2015 and 2014, respectively, and $1,123 and $1,094 of interest expense related to derivatives reclassified from accumulated other comprehensive income for the six months ended June 30, 2015 and 2014, respectively) 3,766 3,685 8,568 7,343
TOTAL INTEREST EXPENSE 7,797 8,464 16,969 17,126
NET INTEREST INCOME 57,644 50,799 111,574 99,411
Provision for loan and lease losses 5,674 2,751 7,345 9,082
NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES 51,970 48,048 104,229 90,329
NONINTEREST INCOME:        
Service charges and fees 5,900 5,254 11,304 10,150
Loan servicing income 1,163 1,393 2,204 2,904
Trust fees 3,913 3,343 7,544 6,553
Brokerage and insurance commissions 916 1,158 2,003 2,281
Securities gains, net (includes $3,110 and $854 of net security gains reclassified from accumulated other comprehensive income for the three months ended June 30, 2015 and 2014, respectively, and $7,463 and $1,635 of net security gains reclassified from accumulated other comprehensive income for six months ended June 30, 2015 and 2014, respectively) 3,110 854 7,463 1,635
Gain (loss) on trading account securities 0 0 0 (38)
Net gains on sale of loans held for sale 14,599 8,796 28,341 15,175
Income on bank owned life insurance 459 339 983 702
Other noninterest income 601 398 1,482 1,023
TOTAL NONINTEREST INCOME 30,661 21,535 61,324 40,385
NONINTEREST EXPENSES:        
Salaries and employee benefits 36,851 32,563 73,489 64,882
Occupancy 4,028 3,984 8,287 8,034
Furniture and equipment 2,176 2,085 4,282 3,975
Professional fees 5,249 4,214 11,293 8,740
FDIC insurance assessments 899 980 1,855 1,960
Advertising 1,333 1,511 2,514 2,699
Intangible assets amortization 715 591 1,346 1,215
Other real estate and loan collection expenses 753 518 1,218 1,570
Loss on sales/valuations of assets, net 1,509 1,379 1,862 1,542
Other noninterest expenses 9,969 6,834 16,950 12,580
TOTAL NONINTEREST EXPENSES 63,482 54,659 123,096 107,197
INCOME BEFORE INCOME TAXES 19,149 14,924 42,457 23,517
Income taxes (includes $952 and $105 of income tax expense reclassified from accumulated other comprehensive income for the three months ended June 30, 2015 and 2014, respectively, and $2,365 and $202 of income tax expense reclassified from accumulated other comprehensive income for the six months ended June 30, 2015 and 2014, respectively) 3,989 4,150 11,588 5,853
NET INCOME 15,160 10,774 30,869 17,664
Preferred dividends and discount (204) (204) (408) (408)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 14,956 $ 10,570 $ 30,461 $ 17,256
EARNINGS PER COMMON SHARE - BASIC (in dollars per share) $ 0.73 $ 0.57 $ 1.49 $ 0.94
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share) 0.72 0.56 1.47 0.92
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.10 $ 0.10 $ 0.20 $ 0.20