XML 23 R4.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income        
Interest and fees on loans $ 112,923 $ 72,082 $ 196,531 $ 139,266
Interest Income, Securities, Operating, Taxable 8,521 6,498 15,986 12,717
Nontaxable interest and dividends on securities 13 16 26 32
Interest on loans held for sale 40 30 71 49
Interest on federal funds sold and short-term investments 647 541 1,073 852
Total interest and dividend income 122,144 79,167 213,687 152,916
Interest expense        
Interest on deposits 11,178 4,587 18,206 8,522
Interest on borrowings 4,947 1,412 6,937 2,755
Total interest expense 16,125 5,999 25,143 11,277
Net interest income 106,019 73,168 188,544 141,639
Provision for loan losses 1,000 2,000 2,000 2,500
Net interest income after provision for loan losses 105,019 71,168 186,544 139,139
Noninterest income        
Deposit account fees 5,080 4,551 9,486 8,982
Interchange and ATM fees 5,794 4,769 10,310 8,942
Investment Banking, Advisory, Brokerage, and Underwriting Fees and Commissions 7,153 6,822 13,901 12,964
Mortgage banking income 3,410 1,038 4,216 1,908
Increase in cash surrender value of life insurance policies 1,296 998 2,268 1,945
Loan level derivative income 932 708 1,573 1,155
Other noninterest income 4,983 3,001 8,427 5,854
Total noninterest income 28,648 21,887 50,181 41,750
Noninterest expenses        
Salaries and employee benefits 38,852 30,288 71,969 61,388
Occupancy and equipment expenses 8,424 6,497 15,554 13,905
Data processing & facilities management 2,042 1,264 3,368 2,550
FDIC assessment 778 691 1,394 1,489
Advertising expense 1,282 1,166 2,495 2,289
Professional Fees 1,384 1,089 2,148 1,845
Amortization of Intangible Assets 1,572 512 2,429 1,162
Available-for-Sale Securities - Fixed Income Gross Realized Losses 1,462 0 1,462 0
Business Combination, Acquisition Related Costs 24,696 434 25,728 434
Software Maintenance 1,363 997 2,528 1,969
Other noninterest expenses 11,177 9,750 20,268 19,108
Total noninterest expenses 93,032 52,688 149,343 106,139
Income before income taxes 40,635 40,367 87,382 74,750
Provision for income taxes 10,007 9,249 21,529 16,077
Net income $ 30,628 $ 31,118 $ 65,853 $ 58,673
Basic earnings per share (in dollars per share) $ 0.89 $ 1.13 $ 2.11 $ 2.13
Diluted earnings per share (in dollars per share) $ 0.89 $ 1.13 $ 2.11 $ 2.13
Weighted average common shares (basic) (in shares) 34,313,492 27,526,653 31,226,985 27,506,724
Common shares equivalents (in shares) 41,878 54,525 48,381 61,480
Weighted average common shares (diluted) (in shares) 34,355,370 27,581,178 31,275,366 27,568,204
Retained Earnings [Member]        
Noninterest expenses        
Net income $ 30,628 $ 31,118    
Cash dividends declared per common share (in dollars per share) $ 0.44 $ 0.38 $ 0.88 $ 0.76