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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest and Dividend Income        
Loans, including fees $ 216,888 $ 167,784 $ 565,130 $ 497,344
Mortgage loans held for sale, including fees 1,209 1,774 3,429 5,025
Investment securities:        
Taxable interest 24,067 12,042 62,177 38,584
Tax-exempt interest 2,179 1,773 6,303 5,107
Amortization of FDIC loss share receivable 0 (3,935) 0 (12,484)
Other 2,629 1,066 7,041 2,558
Total interest and dividend income 246,972 180,504 644,080 536,134
Deposits:        
NOW and MMDA 15,633 7,840 38,940 22,508
Savings 401 299 1,050 818
Time deposits 5,766 4,592 14,980 13,255
Short-term borrowings 4,152 753 4,655 1,900
Long-term debt 4,137 3,603 11,111 10,080
Total interest expense 30,089 17,087 70,736 48,561
Net interest income 216,883 163,417 573,344 487,573
Provision for loan losses 18,514 12,484 36,718 39,255
Net interest income after provision for loan losses 198,369 150,933 536,626 448,318
Non-interest Income        
Mortgage income 16,050 21,807 49,895 67,738
Service charges on deposit accounts 12,534 11,066 35,097 32,957
Title revenue 5,643 6,001 16,574 16,881
Broker commissions 2,269 3,797 7,751 11,332
ATM/debit card fee income 3,658 3,483 11,043 10,636
Credit card and merchant-related income 3,724 3,501 10,470 8,888
Income from bank owned life insurance 1,263 1,305 3,815 3,918
Gain (loss) on sale of available for sale securities (242) 12 (183) 1,997
Other non-interest income 8,168 8,849 21,917 26,236
Total non-interest income 53,067 59,821 156,379 180,583
Non-interest Expense        
Salaries and employee benefits 106,970 85,028 275,140 250,875
Net occupancy and equipment 19,139 16,526 51,452 50,246
Communication and delivery 3,533 3,041 9,534 9,381
Marketing and business development 3,706 3,200 10,368 9,844
Data processing 12,899 6,076 27,146 18,095
Professional services 22,550 5,553 39,104 14,272
Credit and other loan related expense 7,532 1,928 15,838 7,530
Insurance 6,264 4,853 15,279 13,486
Travel and entertainment 2,601 1,915 7,837 6,236
Other non-interest expense 17,792 10,019 39,814 35,130
Total non-interest expense 202,986 138,139 491,512 415,095
Income before income tax expense 48,450 72,615 201,493 213,806
Income tax expense 18,806 24,547 69,358 72,159
Net Income 29,644 48,068 132,135 141,647
Less: Preferred stock dividends 3,598 3,590 8,146 7,020
Net Income Available to Common Shareholders 26,046 44,478 123,989 134,627
Less: Earnings allocated to unvested restricted stock 283 462 1,052 1,464
Earnings allocated to common shareholders $ 25,763 $ 44,016 $ 122,937 $ 133,163
Earnings per common share - Basic (in usd per share) $ 0.49 $ 1.08 $ 2.47 $ 3.27
Earnings per common share - Diluted (in usd per share) 0.49 1.08 2.45 3.26
Cash dividends declared per common share (in usd per share) $ 0.37 $ 0.36 $ 1.09 $ 1.04
Comprehensive Income        
Net income $ 29,644 $ 48,068 $ 132,135 $ 141,647
Unrealized gains (losses) on securities:        
Unrealized holding gains (losses) arising during the period (net of tax effects of $472, $3,410, $7,430, and $15,605, respectively) 877 (6,334) 13,799 28,980
Less: Reclassification adjustment for gains (losses) included in net income (net of tax effects of $85, $4, $64, and $699, respectively) (157) 8 (119) 1,298
Unrealized gains (losses) on securities, net of tax 1,034 (6,342) 13,918 27,682
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 $24, $78, $314, and $3,397, respectively) (158) 146 (1,081) (6,309)
Less: Reclassification adjustment for gains (losses) included in net income (net of tax effects of $55, $0, $134, and $0, respectively) (101) 0 (249) 0
Fair value of derivative instruments designated as cash flow hedges, net of tax (57) 146 (832) (6,309)
Other comprehensive income (loss), net of tax 977 (6,196) 13,086 21,373
Comprehensive income $ 30,621 $ 41,872 $ 145,221 $ 163,020