XML 56 R4.htm IDEA: XBRL DOCUMENT v3.19.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Interest and fees on loans and leases $ 45,861 $ 40,531 $ 135,169 $ 116,620
Interest and dividends on investment securities:        
Taxable interest 7,178 8,490 22,968 26,050
Tax-exempt interest 708 920 2,388 2,786
Dividends 14 26 46 44
Interest on deposits in other banks 33 109 147 310
Dividends on Federal Home Loan Bank stock 186 60 508 145
Total interest income 53,980 50,136 161,226 145,955
Interest on deposits:        
Demand 207 181 598 554
Savings and money market 1,549 593 3,847 1,421
Time 4,432 4,744 14,391 12,203
Interest on short-term borrowings 1,130 146 3,146 237
Interest on long-term debt 1,013 1,147 3,104 3,221
Total interest expense 8,331 6,811 25,086 17,636
Net interest income 45,649 43,325 136,140 128,319
Provision (credit) for loan and lease losses 1,532 (59) 4,219 262
Net interest income after provision (credit) for loan and lease losses 44,117 43,384 131,921 128,057
Other operating income:        
Mortgage banking income 1,764 1,923 4,789 5,545
Service charges on deposit accounts 2,125 2,189 6,247 6,169
Other service charges and fees 3,724 3,286 10,479 9,697
Income from fiduciary activities 1,126 1,159 3,220 3,132
Equity in earnings of unconsolidated subsidiaries 86 71 165 151
Fees on foreign exchange 170 220 539 708
Investment securities gains 36 0 36 0
Income from bank-owned life insurance 645 1,055 2,511 1,874
Loan placement fees 230 115 486 532
Net gain on sales of foreclosed assets 17 0 17 0
Other 343 802 3,544 1,596
Total other operating income 10,266 10,820 32,033 29,404
Other operating expense:        
Salaries and employee benefits 20,631 19,011 61,083 56,299
Net occupancy 3,697 3,488 10,680 10,114
Equipment 1,067 1,048 3,211 3,160
Amortization of core deposit premium 0 669 0 2,006
Communication expense 1,008 903 2,645 2,547
Legal and professional services 1,933 1,528 5,231 5,118
Computer software expense 2,713 2,672 7,870 7,244
Advertising expense 711 612 2,134 1,841
Foreclosed asset expense 15 212 223 537
Other 3,159 3,882 12,312 12,174
Total other operating expense 34,934 34,025 105,389 101,040
Income before income taxes 19,449 20,179 58,565 56,421
Income tax expense 4,895 4,986 14,440 12,727
Net income $ 14,554 $ 15,193 $ 44,125 $ 43,694
Per common share data:        
Basic earnings per common share (in dollars per share) $ 0.51 $ 0.52 $ 1.54 $ 1.48
Diluted earnings per common share (in dollars per share) 0.51 0.52 1.53 1.47
Cash dividends declared (in dollars per share) $ 0.23 $ 0.21 $ 0.67 $ 0.61
Weighted average common shares outstanding used in computation:        
Basic shares (in shares) 28,424,898 29,297,465 28,575,369 29,536,536
Diluted shares (in shares) 28,602,338 29,479,812 28,762,057 29,743,238