XML 42 R29.htm IDEA: XBRL DOCUMENT v3.10.0.1
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
12 Months Ended
Dec. 31, 2018
Selected Quarterly Financial Information [Abstract]  
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

Results of operations on a quarterly basis for the years ended December 31, 2018, 2017 and 2016 were as follows (dollars in thousands except for per share data):
 
Year Ended December 31, 2018
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Interest income
$
104,820

 
$
112,423

 
$
117,648

 
$
128,741

Interest expense
5,447

 
7,360

 
8,570

 
11,282

Net interest income before provision for loan losses
99,373

 
105,063

 
109,078

 
117,459

Provision for loan losses
2,000

 
2,000

 
2,000

 
2,500

Net interest income
97,373

 
103,063

 
107,078

 
114,959

Non-interest income
21,362

 
21,217

 
20,411

 
21,018

Non-interest expense
81,706

 
82,637

 
81,632

 
95,396

Income before provision for income taxes
37,029

 
41,643

 
45,857

 
40,581

Provision for income taxes
8,239

 
9,219

 
8,084

 
3,053

Net income
$
28,790

 
$
32,424

 
$
37,773

 
$
37,528

Basic earnings per share
$
0.89

 
$
1.01

 
$
1.17

 
$
1.10

Diluted earnings per share
0.89

 
1.00

 
1.17

 
1.09

Dividends declared
0.35

 
0.85

 
0.38

 
0.38

 
Year Ended December 31, 2017
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Interest income
$
99,096

 
$
104,436

 
$
105,278

 
$
103,475

Interest expense
4,242

 
4,730

 
5,068

 
5,211

Net interest income before provision for loan losses
94,854

 
99,706

 
100,210

 
98,264

Provision for loan losses
2,000

 
2,000

 
2,000

 
2,000

Net interest income
92,854

 
97,706

 
98,210

 
96,264

Non-interest income
19,048

 
20,396

 
18,081

 
27,675

Non-interest expense
76,281

 
79,857

 
80,331

 
82,501

Income before provision for income taxes
35,621

 
38,245

 
35,960

 
41,438

Provision for income taxes
11,828

 
12,791

 
10,883

 
54,986

Net income (loss)
$
23,793

 
$
25,454

 
$
25,077

 
$
(13,548
)
Basic earnings (loss) per share
$
0.72

 
$
0.77

 
$
0.76

 
$
(0.41
)
Diluted earnings (loss) per share
0.72

 
0.77

 
0.76

 
(0.41
)
Dividends declared
0.25

 
1.25

 
0.25

 
0.25


 
Year Ended December 31, 2016
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Interest income
$
95,301

 
$
97,321

 
$
97,849

 
$
101,007

Interest expense
4,258

 
4,173

 
4,141

 
3,836

Net interest income before provision for loan losses
91,043

 
93,148

 
93,708

 
97,171

Provision for loan losses

 
2,000

 
2,000

 
2,030

Net interest income
91,043

 
91,148

 
91,708

 
95,141

Non-interest income
19,959

 
20,537

 
23,512

 
19,463

Non-interest expense
84,034

 
79,887

 
79,092

 
79,857

Income before provision for income taxes
26,968

 
31,798

 
36,128

 
34,747

Provision for income taxes
9,194

 
10,841

 
12,277

 
11,943

Net income
$
17,774

 
$
20,957

 
$
23,851

 
$
22,804

Basic earnings per share
$
0.52

 
$
0.62

 
$
0.70

 
$
0.69

Diluted earnings per share
0.52

 
0.61

 
0.70

 
0.69

Dividends declared
0.21

 
0.21

 
0.23

 
0.23


The quarterly amounts shown above for 2018 and 2017 reflect the adoption of the Accounting Standards Update, Revenue From Contracts with Customers (see Note 2 in this Form 10-K for additional information). The quarterly amounts for 2016 are not updated.