XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income        
Loans $ 88,347 $ 70,917 $ 178,291 $ 139,918
Mortgage-backed securities 3,593 3,946 7,437 7,987
Debt securities, equity investments and other 3,937 3,547 8,356 6,927
Total interest income 95,877 78,410 194,084 154,832
Interest expense        
Deposits 12,305 9,762 26,241 18,401
Borrowed funds 4,905 3,811 9,531 7,206
Total interest expense 17,210 13,573 35,772 25,607
Net interest income 78,667 64,837 158,312 129,225
Credit loss expense 9,649 356 19,618 976
Net interest income after credit loss expense 69,018 64,481 138,694 128,249
Other income        
Bankcard services revenue 2,741 2,679 5,222 4,964
Net gain on sales of loans 756 7 929 15
Net gain on equity investments 148 133 303 241
Net loss from other real estate operations (52) (121) (202) (127)
Income from Bank Owned Life Insurance 1,521 1,293 3,096 2,614
Commercial loan swap income 2,489 612 6,539 1,084
Other 19 112 44 422
Total other income 11,430 9,879 25,127 19,391
Operating expenses        
Compensation and employee benefits 27,935 23,704 57,820 46,118
Occupancy 5,268 4,399 10,544 8,929
Equipment 1,982 1,936 3,925 3,882
Marketing 753 1,137 1,522 2,067
Federal deposit insurance and regulatory assessments 1,133 802 1,800 1,634
Data processing 4,149 3,684 8,326 7,338
Check card processing 1,290 1,322 2,566 2,760
Professional fees 2,683 1,408 4,985 3,117
Other operating expense 5,262 3,882 9,064 7,251
Amortization of core deposit intangible 1,544 1,015 3,122 2,020
Branch consolidation expense 863 6,695 3,457 7,086
Merger related expenses 3,070 931 11,597 5,984
Total operating expenses 55,932 50,915 118,728 98,186
Income before provision for income taxes 24,516 23,445 45,093 49,454
Provision for income taxes 5,878 4,465 9,922 9,301
Net income $ 18,638 $ 18,980 $ 35,171 $ 40,153
Basic earnings per share (in dollars per share) $ 0.31 $ 0.37 $ 0.59 $ 0.80
Diluted earnings per share (in dollars per share) $ 0.31 $ 0.37 $ 0.58 $ 0.79
Average basic shares outstanding (in shares) 59,877 50,687 59,881 50,115
Average diluted shares outstanding (in shares) 59,999 51,290 60,122 50,728
Trust and asset management revenue        
Other income        
Other income $ 555 $ 569 $ 1,070 $ 1,067
Fees and service charges        
Other income        
Other income $ 3,253 $ 4,595 $ 8,126 $ 9,111