Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

v3.19.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income:        
Interest and fees on loans $ 88,610 $ 73,620 $ 174,134 $ 143,294
Taxable securities 4,193 3,127 7,939 5,872
Nontaxable securities 393 623 839 1,279
Federal funds sold 1,998 694 3,217 1,245
Other interest and dividends 2,593 332 5,357 715
Total interest income 97,787 78,396 191,486 152,405
Interest expense:        
Deposits 24,240 11,714 46,385 21,335
Borrowed funds 3,462 2,160 6,238 4,112
Total interest expense 27,702 13,874 52,623 25,447
Net interest income 70,085 64,522 138,863 126,958
Provision for loan losses 4,884 4,121 9,769 8,260
Net interest income after provision for loan losses 65,201 60,401 129,094 118,698
Noninterest income:        
Securities (losses) gains (6) 0 (6) 4
Increase in cash surrender value life insurance 778 786 1,540 1,563
Other operating income 392 352 719 629
Total noninterest income 5,778 4,941 10,720 9,357
Noninterest expenses:        
Salaries and employee benefits 14,339 13,098 28,604 26,394
Equipment and occupancy expense 2,287 2,113 4,546 4,067
Professional services 1,191 924 2,185 1,729
FDIC and other regulatory assessments 1,081 1,159 2,100 2,292
OREO expense 212 160 234 476
Other operating expenses 6,912 6,038 13,679 11,593
Total noninterest expenses 26,022 23,492 51,348 46,551
Income before income taxes 44,957 41,850 88,466 81,504
Provision for income taxes 9,324 8,310 17,823 15,361
Net income 35,633 33,540 70,643 66,143
Preferred stock dividends 31 31 31 31
Net income available to common stockholders $ 35,602 $ 33,509 $ 70,612 $ 66,112
Basic earnings per common share (in dollars per share) $ 0.67 $ 0.63 $ 1.32 $ 1.24
Diluted earnings per common share (in dollars per share) $ 0.66 $ 0.62 $ 1.31 $ 1.22
Deposit Account [Member]        
Noninterest income:        
Noninterest income $ 1,786 $ 1,653 $ 3,488 $ 3,238
Mortgage Banking [Member]        
Noninterest income:        
Noninterest income 1,087 789 1,662 1,307
Credit Card [Member]        
Noninterest income:        
Noninterest income $ 1,741 $ 1,361 $ 3,317 $ 2,616