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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest and Dividend Income        
Loans, including fees $ 167,784 $ 159,915 $ 497,344 $ 443,441
Mortgage loans held for sale, including fees 1,774 1,847 5,025 4,742
Investment securities:        
Taxable interest 12,042 12,184 38,584 33,906
Tax-exempt interest 1,773 1,546 5,107 4,111
Amortization of FDIC loss share receivable (3,935) (5,600) (12,484) (19,011)
Other 1,066 1,185 2,558 3,018
Total interest and dividend income 180,504 171,077 536,134 470,207
Deposits:        
NOW and MMDA 7,840 7,968 22,508 19,409
Savings 299 217 818 525
Time deposits 4,592 5,039 13,255 14,410
Short-term borrowings 753 116 1,900 699
Long-term debt 3,603 2,620 10,080 8,566
Total interest expense 17,087 15,960 48,561 43,609
Net interest income 163,417 155,117 487,573 426,598
Provision for loan losses 12,484 5,062 39,255 19,197
Net interest income after provision for loan losses 150,933 150,055 448,318 407,401
Non-interest Income        
Mortgage income 21,807 20,628 67,738 63,897
Service charges on deposit accounts 11,066 11,342 32,957 30,766
Title revenue 6,001 6,627 16,881 17,402
Broker commissions 3,797 3,839 11,332 13,462
ATM/debit card fee income 3,483 3,562 10,636 10,420
Income from bank owned life insurance 1,305 1,093 3,918 3,260
Gain on sale of available for sale securities 12 280 1,997 1,569
Other non-interest income 12,350 10,107 35,124 27,114
Total non-interest income 59,821 57,478 180,583 167,890
Non-interest Expense        
Salaries and employee benefits 85,028 82,416 250,875 239,131
Net occupancy and equipment 16,526 17,987 50,246 51,613
Communication and delivery 3,041 3,420 9,381 10,164
Marketing and business development 3,200 3,260 9,844 11,003
Data processing 6,076 6,727 18,095 27,928
Professional services 5,553 5,825 14,272 18,657
Credit and other loan related expense 1,928 5,241 7,530 14,154
Insurance 4,853 4,614 13,486 12,402
Travel and entertainment 1,915 2,248 6,236 7,489
Other non-interest expense 10,019 13,230 35,130 38,789
Total non-interest expense 138,139 144,968 415,095 431,330
Income before income tax expense 72,615 62,565 213,806 143,961
Income tax expense 24,547 20,090 72,159 45,524
Net Income 48,068 42,475 141,647 98,437
Preferred stock dividends (3,590) 0 (7,020) 0
Income Available to Common Shareholders - Basic 44,478 42,475 134,627 98,437
Earnings Allocated to Unvested Restricted Stock (462) (492) (1,464) (1,171)
Earnings Allocated to Common Shareholders - Basic $ 44,016 $ 41,983 $ 133,163 $ 97,266
Earnings per common share - Basic (in usd per share) $ 1.08 $ 1.04 $ 3.27 $ 2.60
Earnings per common share - Diluted (in usd per share) 1.08 1.03 3.26 2.59
Cash dividends declared per share (in usd per share) $ 0.36 $ 0.34 $ 1.04 $ 1.02
Comprehensive Income        
Net Income $ 48,068 $ 42,475 $ 141,647 $ 98,437
Unrealized gains (losses) on securities:        
Unrealized holding gains (losses) arising during the period (net of tax effects of $3,410, $6,681, $15,605 and $5,843, respectively) (6,334) 12,408 28,980 10,852
Reclassification adjustment for gains included in net income (net of tax effects of $4, $98, $699 and $549, respectively) (8) (182) (1,298) (1,020)
Unrealized gains (losses) on securities, net of tax (6,342) 12,226 27,682 9,832
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 $78, $1,837, $3,397 and $201, respectively) 146 (3,412) (6,309) (374)
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 146 (3,412) (6,309) (374)
Other comprehensive income, net of tax (6,196) 8,814 21,373 9,458
Comprehensive Income $ 41,872 $ 51,289 $ 163,020 $ 107,895