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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income:        
Loans $ 85,080 $ 78,429 $ 169,199 $ 153,041
Mortgage-backed securities 5,987 8,034 13,912 15,085
Investment securities and other 3,188 1,543 5,854 3,050
Total interest income 94,255 88,006 188,965 171,176
Interest expense:        
Deposits 9,991 7,651 19,040 14,949
Securities sold under agreements to repurchase 2,106 1,840 4,892 2,918
Advances from FHLB and other borrowings 559 448 1,121 822
Subordinated capital notes 514 479 1,038 905
Total interest expense 13,170 10,418 26,091 19,594
Net interest income 81,085 77,588 162,874 151,582
Provision for loan losses, net 17,705 14,747 29,954 30,207
Net interest income after provision for loan and lease losses 63,380 62,841 132,920 121,375
Non-interest income:        
Banking service revenue 10,776 11,144 21,241 21,607
Wealth management revenue 6,669 6,262 12,551 12,281
Mortgage banking activities 629 988 1,835 2,745
Total banking and financial service revenues 18,074 18,394 35,627 36,633
Sale of securities 4,776 0 4,776 0
Early extinguishment of debt (7) 0 (7) 0
Other non-interest income 105 309 208 584
Total non-interest income, net 22,948 18,703 40,604 37,217
Non-interest expense:        
Compensation and employee benefits 19,875 18,099 40,216 38,707
Occupancy, equipment and infrastructure costs 7,511 9,166 15,257 16,934
Electronic banking charges 5,128 5,415 10,193 10,382
Professional and service fees 3,427 3,146 6,635 5,840
Loss on sale of foreclosed real estate, other repossessed assets and credit related expenses 2,584 2,289 5,950 5,934
Information technology expenses 2,200 2,000 4,707 4,009
Taxes, other than payroll and income taxes 2,142 2,384 4,295 4,645
Advertising, business promotion, and strategic initiatives 1,315 1,024 2,526 2,371
Insurance 1,277 1,482 2,423 2,960
Loan servicing and clearing expenses 1,160 1,227 2,368 2,388
Merger and restructuring charges 1,000 0 1,000 0
Communication 859 815 1,599 1,700
Printing, postage, stationary and supplies 636 605 1,214 1,249
Director and investor relations 330 337 560 577
Other 2,008 4,311 4,661 6,725
Total non-interest expense 51,452 52,300 103,604 104,421
Income before income taxes 34,876 29,244 69,920 54,171
Income tax expense 10,897 9,595 22,471 17,605
Net income 23,979 19,649 47,449 36,566
Less: dividends on preferred stock (1,628) (3,465) (3,256) (6,930)
Income available to common shareholders $ 22,351 $ 16,184 $ 44,193 $ 29,636
Earnings per common share:        
Basic $ 0.44 $ 0.36 $ 0.86 $ 0.67
Diluted $ 0.43 $ 0.35 $ 0.86 $ 0.65
Average common shares outstanding and equivalents 51,680 51,226 51,652 51,157
Cash dividends per share of common stock $ 0.07 $ 0.06 $ 0.14 $ 0.12