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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Interest and Dividend Income      
Loans, including fees $ 606,966 $ 526,706 $ 488,936
Mortgage loans held for sale, including fees 6,164 5,153 5,108
Investment securities:      
Taxable interest 47,380 38,815 31,562
Tax-exempt interest 5,785 5,862 6,668
Amortization of FDIC loss share receivable (23,500) (74,617) (97,849)
Other 4,063 2,896 2,772
Total interest and dividend income 646,858 504,815 437,197
Deposits:      
NOW and MMDA 27,226 18,483 18,933
Savings 740 325 309
Time deposits 19,137 14,282 16,604
Short-term borrowings 797 1,364 490
Long-term debt 11,200 10,250 10,617
Total interest expense 59,100 44,704 46,953
Net interest income 587,758 460,111 390,244
Provision for loan losses 30,908 19,060 5,145
Net interest income after provision for loan losses 556,850 441,051 385,099
Non-interest Income      
Mortgage income 81,122 51,797 64,197
Service charges on deposit accounts 42,197 35,573 28,871
Title revenue 22,837 20,492 20,526
Broker commissions 17,592 18,783 16,333
ATM/debit card fee income 13,989 12,023 9,510
Income from bank owned life insurance 4,356 5,473 3,647
Gain on sale of available for sale securities 1,575 771 2,277
Other non-interest income 36,725 28,716 23,597
Total non-interest income 220,393 173,628 168,958
Non-interest Expense      
Salaries and employee benefits 322,586 259,086 244,984
Net occupancy and equipment 68,541 59,571 58,037
Impairment of FDIC loss share receivables and other long-lived assets 6,954 6,437 37,893
Communication and delivery 13,506 12,029 12,024
Marketing and business development 13,176 11,707 10,143
Data processing 34,424 27,249 17,853
Amortization of acquisition intangibles 7,811 5,807 4,720
Professional services 22,368 18,975 18,217
Costs of OREO property, net 748 2,748 1,943
Credit and other loan related expense 16,653 13,692 15,853
Insurance 16,670 14,359 11,272
Travel and entertainment 9,525 9,033 8,126
Other non-interest expense 37,343 32,921 31,731
Total non-interest expense 570,305 473,614 472,796
Income before income tax expense 206,938 141,065 81,261
Income tax expense 64,094 35,683 16,133
Net Income 142,844 105,382 65,128
Income Available to Common Shareholders - Basic 142,844 105,382 65,128
Earnings Allocated to Unvested Restricted Stock (1,680) (1,651) (1,205)
Earnings Allocated to Common Shareholders $ 141,164 $ 103,731 $ 63,923
Earnings per common share - Basic (in usd per share) $ 3.69 $ 3.31 $ 2.20
Earnings per common share - Diluted (in usd per share) 3.68 3.30 2.20
Cash dividends declared per common share (in usd per share) $ 1.36 $ 1.36 $ 1.36
Comprehensive Income      
Net Income $ 142,844 $ 105,382 $ 65,128
Unrealized gains (losses) on securities:      
Unrealized holding gains (losses) arising during the period (net of tax effects of $4,374, $13,202, and $21,733, respectively) (8,124) 24,517 (40,362)
Reclassification adjustment for gains included in net income (net of tax effects of $551, $270 and $797, respectively) (1,024) (501) (1,480)
Unrealized gains (losses) on securities, net of tax (9,148) 24,016 (41,842)
Fair value of derivative instruments designated as cash flow hedges:      
Change in fair value of derivative instruments designated as cash flow hedges during the period (net of tax effects of $20, $0 and $334, respectively) 38 0 619
Reclassification adjustment for losses included in net income (net of tax effects of $0, $0 and $136, respectively) 0 0 255
Fair value of derivative instruments designated as cash flow hedges, net of tax 38 0 874
Other comprehensive income (loss), net of tax (9,110) 24,016 (40,968)
Comprehensive income $ 133,734 $ 129,398 $ 24,160