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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
INTEREST INCOME        
Loans $ 159,242 $ 142,441 $ 463,949 $ 433,471
Securities:        
Taxable interest 33,307 26,393 90,249 79,475
Tax-exempt interest 24,458 25,377 74,165 74,393
Total securities income 57,765 51,770 164,414 153,868
Federal funds and resell agreements 2,389 2,248 7,762 9,273
Interest-bearing due from banks 1,699 299 3,235 3,360
Trading securities 231 259 579 1,225
Total interest income 221,326 197,017 639,939 601,197
INTEREST EXPENSE        
Deposits 6,741 9,284 20,113 50,259
Federal funds and repurchase agreements 1,596 1,730 5,261 10,061
Other 3,224 1,619 9,614 4,323
Total interest expense 11,561 12,633 34,988 64,643
Net interest income 209,765 184,384 604,951 536,554
Provision for credit losses (5,000) 16,000 11,500 125,500
Net interest income after provision for credit losses 214,765 168,384 593,451 411,054
NONINTEREST INCOME        
Trust and securities processing 56,914 50,552 165,611 143,873
Trading and investment banking 5,936 8,678 23,962 23,252
Service charges on deposit accounts 19,881 19,650 64,449 63,805
Insurance fees and commissions 285 259 950 1,051
Brokerage fees 2,899 4,819 8,825 20,432
Bankcard fees 17,198 15,295 47,934 44,756
Investment securities (losses) gains, net (3,510) (475) 3,609 7,624
Other 8,304 14,218 33,053 27,083
Total noninterest income 107,907 112,996 348,393 331,876
NONINTEREST EXPENSE        
Salaries and employee benefits 124,986 124,194 373,082 366,192
Occupancy, net 12,207 12,027 36,438 35,618
Equipment 19,701 20,968 58,512 63,711
Supplies and services 3,379 3,442 10,340 11,412
Marketing and business development 4,863 3,038 12,005 10,962
Processing fees 16,562 12,812 48,480 39,805
Legal and consulting 7,646 7,244 21,548 19,574
Bankcard 4,795 4,834 14,280 14,243
Amortization of other intangible assets 1,110 1,524 3,647 4,916
Regulatory fees 3,186 2,309 8,501 7,886
Other 10,434 5,603 24,320 20,828
Total noninterest expense 208,869 197,995 611,153 595,147
Income before income taxes 113,803 83,385 330,691 147,783
Income tax expense 19,336 10,293 56,169 17,601
NET INCOME $ 94,467 $ 73,092 $ 274,522 $ 130,182
PER SHARE DATA        
Net income – basic $ 1.96 $ 1.52 $ 5.69 $ 2.70
Net income – diluted 1.94 1.52 5.64 2.69
Dividends $ 0.37 $ 0.31 $ 1.01 $ 0.93
Weighted average shares outstanding – basic 48,319,414 47,947,056 48,237,819 48,208,447
Weighted average shares outstanding – diluted 48,742,883 48,068,438 48,658,290 48,352,145