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Condensed Consolidated Statements of Earnings and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest income:        
Loans and leases, including fees $ 48,822 $ 46,923 $ 139,686 $ 135,137
Investment securities:        
Investment securities available-for-sale 14,734 17,647 50,171 49,991
Investment securities held-to-maturity 3,436 40 3,510 125
Total investment income 18,170 17,687 53,681 50,116
Dividends from FHLB stock 509 518 2,392 1,648
Federal funds sold 167 112 496 363
Interest-earning deposits with other institutions 63 55 171 309
Total interest income 67,731 65,295 196,426 187,573
Interest expense:        
Deposits 1,333 1,228 3,933 3,636
Borrowings 371 2,724 2,486 8,283
Junior subordinated debentures 110 105 323 315
Total interest expense 1,814 4,057 6,742 12,234
Net interest income before recapture of provision for loan losses 65,917 61,238 189,684 175,339
Recapture of provision for loan losses (2,500) (1,000) (4,500) (16,100)
Net interest income after recapture of provision for loan losses 68,417 62,238 194,184 191,439
Noninterest income:        
Service charges on deposit accounts 3,930 4,065 11,843 11,798
Trust and investment services 2,275 2,045 6,607 6,103
Bankcard services 805 868 2,380 2,569
BOLI income 491 613 1,948 1,852
Gain on sale of loans held-for-sale 0 0 0 5,330
Decrease in FDIC loss sharing asset, net 0 (479) (803) (3,653)
Gain on OREO, net 158 127 414 262
Other 754 770 2,380 2,296
Total noninterest income 8,413 8,009 24,769 26,557
Noninterest expense:        
Salaries and employee benefits 20,395 19,366 59,338 57,170
Occupancy and equipment 3,853 4,147 11,218 11,548
Professional services 1,937 2,080 4,617 5,090
Software licenses and maintenance 901 1,324 2,924 3,399
Promotion 1,297 1,349 3,825 3,956
Recapture of provision for unfunded loan commitments 0 (1,250) (500) (1,250)
Amortization of intangible assets 220 466 727 781
Debt termination expense 0 0 13,870 0
OREO expense 28 102 363 240
Acquisition related expenses 75 640 75 1,932
Other 4,036 4,257 12,290 12,096
Total noninterest expense 32,742 32,481 108,747 94,962
Earnings before income taxes 44,088 37,766 110,206 123,034
Income taxes 16,202 13,471 39,674 44,594
Net earnings 27,886 24,295 70,532 78,440
Other comprehensive income:        
Unrealized gain/(loss) on securities arising during the period 18,674 (10,291) 5,974 47,272
Less: Reclassification adjustment for net loss on securities included in net income 22 0 22 0
Other comprehensive income (loss), before tax 18,696 (10,291) 5,996 47,272
Less: Income tax benefit (expense) related to items of other comprehensive income (loss) (7,852) 4,322 (2,518) (19,854)
Other comprehensive income (loss), net of tax 10,844 (5,969) 3,478 27,418
Comprehensive income $ 38,730 $ 18,326 $ 74,010 $ 105,858
Basic earnings per common share $ 0.26 $ 0.23 $ 0.66 $ 0.74
Diluted earnings per common share 0.26 0.23 0.66 0.74
Cash dividends declared per common share $ 0.12 $ 0.10 $ 0.36 $ 0.30