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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest and Dividend Income        
Loans, including fees $ 270,476 $ 179,266 $ 508,545 $ 348,242
Mortgage loans held for sale, including fees 836 1,248 1,990 2,219
Investment securities:        
Taxable interest 26,617 20,246 51,945 38,110
Tax-exempt interest 2,708 2,060 5,474 4,124
Other 3,186 1,755 6,412 4,413
Total interest and dividend income 303,823 204,575 574,366 397,108
Deposits:        
NOW and MMDA 26,533 12,207 47,761 23,306
Savings 521 329 953 649
Time deposits 9,105 4,576 15,689 9,214
Short-term borrowings 3,327 227 5,851 504
Long-term debt 8,224 3,593 15,110 6,974
Total interest expense 47,710 20,932 85,364 40,647
Net interest income 256,113 183,643 489,002 356,461
Provision for loan and lease losses 7,595 12,050 15,581 18,204
Net interest income after provision for loan and lease losses 248,518 171,593 473,421 338,257
Non-interest Income        
Mortgage income 13,721 19,730 23,316 33,845
Service charges on deposit accounts 12,950 11,410 25,858 22,563
Title revenue 6,846 6,190 11,873 10,931
Broker commissions 2,396 2,562 4,617 5,109
ATM/debit card fee income 2,925 2,646 5,558 5,129
Credit card and merchant-related income 3,326 2,727 6,233 5,025
Trust Department Income 4,243 2,026 7,669 3,939
Income from bank owned life insurance 1,261 1,241 2,543 2,552
Gain (loss) on sale of available for sale securities 3 59 (56) 59
Other non-interest income 6,269 5,247 10,895 9,810
Total non-interest income 53,940 53,838 98,506 98,962
Non-interest Expense        
Salaries and employee benefits 107,445 86,317 212,031 168,170
Net occupancy and equipment 19,931 16,292 39,978 32,313
Communication and delivery 4,213 2,956 8,115 6,000
Marketing and business development 4,895 3,238 9,647 6,662
Data processing 9,309 6,713 21,702 13,074
Professional services 7,160 11,219 14,551 16,553
Credit and other loan related expense 5,190 3,780 9,808 8,306
Insurance 6,946 4,486 14,051 9,016
Travel and entertainment 2,797 2,753 6,034 5,237
Amortization of acquisition intangibles 6,111 1,651 11,213 3,421
Errors, fines, and losses 15,700 544 24,457 3,202
Other non-interest expense 7,180 5,431 13,586 12,222
Total non-interest expense 196,877 145,380 385,173 284,176
Income before income tax expense 105,581 80,051 186,754 153,043
Income tax expense 30,457 28,033 48,009 50,552
Net Income 75,124 52,018 138,745 102,491
Less: Preferred stock dividends 949 949 4,547 4,548
Net Income Available to Common Shareholders 74,175 51,069 134,198 97,943
Less: Earnings allocated to unvested restricted stock 767 361 1,409 707
Earnings allocated to common shareholders $ 73,408 $ 50,708 $ 132,789 $ 97,236
Earnings per common share - Basic (in usd per share) $ 1.31 $ 1.00 $ 2.42 $ 2.01
Earnings per common share - Diluted (in usd per share) 1.30 0.99 2.41 1.99
Cash dividends declared per common share (in usd per share) $ 0.38 $ 0.36 $ 0.76 $ 0.72
Comprehensive Income        
Net income $ 75,124 $ 52,018 $ 138,745 $ 102,491
Unrealized gains (losses) on securities:        
Unrealized holding gains (losses) arising during the period (net of tax effects of $4,449, $4,537, $18,672, and $6,958, respectively) (16,734) 8,426 (70,240) 12,922
Less: Reclassification adjustment for gains (losses) included in net income (net of tax effects of $1, $21, $12, and $21, respectively) 2 38 (44) 38
Unrealized gains (losses) on securities, net of tax (16,736) 8,388 (70,196) 12,884
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 $371, $537, $1,048, and $497, respectively) 1,395 (996) 3,944 (923)
Less: Reclassification adjustment for gains (losses) included in net income (net of tax effects of $11, $55, $42, and $80, respectively) (40) (103) (156) (148)
Fair value of derivative instruments designated as cash flow hedges, net of tax 1,435 (893) 4,100 (775)
Other comprehensive income (loss), net of tax (15,301) 7,495 (66,096) 12,109
Comprehensive income $ 59,823 $ 59,513 $ 72,649 $ 114,600