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Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Loans including fees:        
Taxable $ 124,488 $ 124,261 $ 370,594 $ 377,725
Nontaxable 3,119 3,312 9,647 10,390
Investment securities:        
Taxable 24,773 23,839 73,305 76,593
Nontaxable 9,469 8,615 27,862 24,909
Money market and other interest-earning investments 177 59 313 442
Total interest income 162,026 160,086 481,721 490,059
Interest Expense        
Deposits 2,578 5,297 8,469 24,393
Federal funds purchased and interbank borrowings 0 12 0 1,296
Securities sold under agreements to repurchase 90 160 305 729
Federal Home Loan Bank advances 5,326 6,709 15,953 21,321
Other borrowings 2,460 2,335 7,375 7,305
Total interest expense 10,454 14,513 32,102 55,044
Net interest income 151,572 145,573 449,619 435,015
Provision for credit losses (4,613) 0 (26,898) 39,495
Net interest income after provision for credit losses 156,185 145,573 476,517 395,520
Noninterest Income        
Wealth management fees 10,134 9,239 30,576 27,547
Service charges on deposit accounts 8,926 8,698 25,564 26,357
Debit card and ATM fees 4,942 5,276 15,668 15,106
Mortgage banking revenue 10,870 18,110 35,222 46,542
Investment product fees 6,475 5,351 18,381 16,070
Capital markets income 6,017 5,428 15,603 15,935
Company-owned life insurance 2,355 2,830 7,852 8,878
Debt securities gains (losses), net 1,207 4,921 3,892 10,606
Other income 3,589 4,906 9,977 13,681
Total noninterest income 54,515 64,759 162,735 180,722
Noninterest Expense        
Salaries and employee benefits 71,005 69,860 211,762 215,589
Occupancy 12,757 13,930 41,683 42,308
Equipment 3,756 3,754 12,231 12,912
Marketing 3,267 2,140 7,961 7,632
Data processing 11,508 9,628 35,558 28,724
Communication 2,372 2,241 7,661 7,335
Professional fees 3,416 3,083 14,668 10,921
FDIC assessment 1,628 1,319 4,461 4,942
Amortization of intangibles 2,779 3,459 8,763 10,847
Amortization of tax credit investments 1,736 3,115 4,751 8,917
Other expense 7,050 7,705 19,133 48,972
Total noninterest expense 121,274 120,234 368,632 399,099
Income before income taxes 89,426 90,098 270,620 177,143
Income tax expense 17,680 12,154 49,270 24,854
Net income $ 71,746 $ 77,944 $ 221,350 $ 152,289
Net income per common share - basic (in dollars per share) $ 0.43 $ 0.47 $ 1.34 $ 0.92
Net income per common share - diluted (in dollars per share) $ 0.43 $ 0.47 $ 1.33 $ 0.92
Weighted average number of common shares outstanding - basic (in shares) 165,258 164,773 165,144 165,748
Weighted average number of common shares outstanding - diluted (in shares) 165,939 165,419 165,862 166,370
Dividends per common share (in dollars per share) $ 0.14 $ 0.14 $ 0.42 $ 0.42