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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest and Dividend Income        
Loans, including fees $ 165,569 $ 153,335 $ 329,560 $ 283,526
Mortgage loans held for sale, including fees 1,850 1,380 3,251 2,895
Investment securities:        
Taxable interest 12,994 10,930 26,542 21,722
Tax-exempt interest 1,670 1,260 3,334 2,565
Amortization of FDIC loss share receivable (4,163) (7,398) (8,549) (13,411)
Other 774 1,038 1,492 1,833
Total interest and dividend income 178,694 160,545 355,630 299,130
Deposits:        
NOW and MMDA 7,310 6,600 14,668 11,441
Savings 297 223 519 308
Time deposits 4,309 4,959 8,663 9,371
Short-term borrowings 662 220 1,147 583
Long-term debt 3,363 2,866 6,477 5,946
Total interest expense 15,941 14,868 31,474 27,649
Net interest income 162,753 145,677 324,156 271,481
Provision for loan losses 11,866 8,790 26,771 14,135
Net interest income after provision for loan losses 150,887 136,887 297,385 257,346
Non-interest Income        
Mortgage income 25,991 25,246 45,931 43,269
Service charges on deposit accounts 10,940 10,162 21,891 19,424
Title revenue 6,135 6,146 10,880 10,775
ATM/debit card fee income 3,650 3,583 7,153 6,858
Income from bank owned life insurance 1,411 1,075 2,613 2,167
Gain on sale of available for sale securities 1,789 903 1,985 1,289
Broker commissions 3,712 5,461 7,535 9,623
Other non-interest income 11,289 8,937 22,774 17,007
Total non-interest income 64,917 61,513 120,762 110,412
Non-interest Expense        
Salaries and employee benefits 85,105 84,019 165,847 156,715
Net occupancy and equipment 16,813 17,366 33,720 33,626
Communication and delivery 3,281 3,578 6,340 6,744
Marketing and business development 3,142 4,187 6,644 7,743
Data processing 6,101 11,440 12,019 21,201
Professional services 4,939 5,966 8,719 12,832
Credit and other loan related expense 2,931 4,730 5,602 8,913
Insurance 4,449 4,238 8,633 7,788
Travel and entertainment 1,938 2,726 4,321 5,241
Other non-interest expense 10,805 14,959 25,111 25,559
Total non-interest expense 139,504 153,209 276,956 286,362
Income before income tax expense 76,300 45,191 141,191 81,396
Income tax expense 25,490 14,355 47,612 25,434
Net Income 50,810 30,836 93,579 55,962
Preferred stock dividends (854) 0 (3,430) 0
Income Available to Common Shareholders - Basic 49,956 30,836 90,149 55,962
Earnings Allocated to Unvested Restricted Stock (540) (355) (1,003) (675)
Earnings Allocated to Common Shareholders - Basic $ 49,416 $ 30,481 $ 89,146 $ 55,287
Earnings per common share - Basic (in usd per share) $ 1.21 $ 0.79 $ 2.19 $ 1.54
Earnings per common share - Diluted (in usd per share) 1.21 0.79 2.18 1.54
Cash dividends declared per share (in usd per share) $ 0.34 $ 0.34 $ 0.68 $ 0.68
Comprehensive Income        
Net Income $ 50,810 $ 30,836 $ 93,579 $ 55,962
Unrealized gains (losses) on securities:        
Unrealized holding gains (losses) arising during the period (net of tax effects of $5,313, $6,246, $19,015 and $838, respectively) 9,867 (11,599) 35,314 (1,556)
Reclassification adjustment for gains included in net income (net of tax effects of $626, $316, $695 and $451, respectively) (1,163) (587) (1,290) (838)
Unrealized gains (losses) on securities, net of tax 8,704 (12,186) 34,024 (2,394)
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 $1,252, $1,636, $3,475 and $1,636, respectively) (2,328) 3,038 (6,455) 3,038
Reclassification adjustment for losses included in net income 0 0 0 0
Fair value of derivative instruments designated as cash flow hedges, net of tax (2,328) 3,038 (6,455) 3,038
Other comprehensive income, net of tax 6,376 (9,148) 27,569 644
Comprehensive Income $ 57,186 $ 21,688 $ 121,148 $ 56,606