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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income:        
Real estate secured loans $ 47,692 $ 45,262 $ 140,712 $ 134,411
Commercial loans 18,964 16,093 53,884 46,419
Consumer loans 5,083 5,627 15,293 16,657
Securities available for sale and Federal Home Loan Bank Stock 6,540 5,576 19,651 17,074
Investment securities held to maturity 3,272 3,349 9,812 10,011
Deposits, Federal funds sold and other short-term investments 343 138 898 252
Total interest income 81,894 76,045 240,250 224,824
Interest expense:        
Deposits 4,988 4,441 14,093 12,397
Borrowed funds 6,694 6,633 19,855 20,477
Total interest expense 11,682 11,074 33,948 32,874
Net interest income 70,212 64,971 206,302 191,950
Provision for loan losses 500 1,000 3,700 4,200
Net interest income after provision for loan losses 69,712 63,971 202,602 187,750
Non-interest income:        
Fees 7,680 6,137 20,940 19,309
Wealth management income 4,592 4,262 13,314 13,084
Bank-owned life insurance 1,353 1,382 5,291 4,083
Net gain (loss) on securities transactions 36 (43) 47 54
Other income 1,451 2,328 2,804 4,378
Total non-interest income 15,112 14,066 42,396 40,908
Non-interest expense:        
Compensation and employee benefits 27,328 26,725 81,086 78,496
Net occupancy expense 6,105 6,227 19,255 18,729
Data processing expense 3,314 3,328 10,302 9,845
FDIC insurance 967 1,117 3,065 3,732
Amortization of intangibles 632 767 2,079 2,628
Advertising and promotion expense 907 787 2,709 2,567
Other operating expenses 7,027 6,899 21,248 20,628
Total non-interest expense 46,280 45,850 139,744 136,625
Income before income tax expense 38,544 32,187 105,254 92,033
Income tax expense 11,969 9,281 30,788 26,798
Net income $ 26,575 $ 22,906 $ 74,466 $ 65,235
Basic earnings per share (usd per share) $ 0.41 $ 0.36 $ 1.16 $ 1.03
Weighted average basic shares outstanding (in shares) 64,454,684 63,728,393 64,327,640 63,545,065
Diluted earnings per share (usd per share) $ 0.41 $ 0.36 $ 1.15 $ 1.02
Weighted average diluted shares outstanding (in shares) 64,645,278 63,934,886 64,519,710 63,727,723