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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income:        
Loans, including fees $ 90,614 $ 104,688 $ 287,608 $ 313,057
Investment securities:        
Taxable 8,469 18,040 40,049 56,942
Tax-exempt 605 1,019 2,024 4,045
Other interest income 295 372 564 998
Total interest income 99,983 124,119 330,245 375,042
Interest expense:        
Savings deposits 1,028 4,023 5,424 12,515
Time deposits 4,292 5,680 15,581 15,102
Securities sold under repurchase agreements 164 640 777 1,820
Other borrowings 1,930 3,144 6,844 10,151
Junior subordinated deferrable interest debentures 756 1,414 3,109 5,045
Total interest expense 8,170 14,901 31,735 44,633
Net interest income 91,813 109,218 298,510 330,409
Provision for credit losses 8,770 5,278 36,595 15,363
Net interest income after provision for credit losses 83,043 103,940 261,915 315,046
Non-interest income:        
Investment securities transactions, net   (2) (5) (12)
Other investments, net 3,235 2,440 3,621 4,685
Other income 5,574 4,813 17,223 11,866
Total non-interest income 40,117 42,697 108,843 113,242
Non-interest expense:        
Employee compensation and benefits 31,718 37,038 100,367 110,693
Occupancy 6,677 7,294 19,346 20,251
Depreciation of bank premises and equipment 7,049 7,127 21,348 21,140
Professional fees 4,121 4,744 12,004 12,081
Deposit insurance assessments 810 829 1,012 2,471
Net expense, other real estate owned 1,341 1,578 7,178 3,776
Advertising 1,413 1,987 5,289 6,150
Software and software maintenance 4,964 4,691 14,712 14,191
Other 11,960 15,778 39,686 42,877
Total non-interest expense 70,053 81,066 220,942 233,630
Income before income taxes 53,107 65,571 149,816 194,658
Provision for income taxes 10,365 14,127 30,726 41,288
Net income $ 42,742 $ 51,444 $ 119,090 $ 153,370
Basic earnings per common share:        
Weighted average number of shares outstanding (in shares) 63,269,966 65,449,159 63,876,496 65,571,124
Net income (in dollars per share) $ 0.68 $ 0.79 $ 1.86 $ 2.34
Fully diluted earnings per common share:        
Weighted average number of shares outstanding (in shares) 63,386,292 65,636,116 64,001,883 65,777,552
Net income (in dollars per share) $ 0.67 $ 0.78 $ 1.86 $ 2.33
Services charges on deposit accounts        
Non-interest income:        
Service charges $ 15,037 $ 18,723 $ 45,554 $ 53,593
Other service charges, commissions and fees, Banking        
Non-interest income:        
Service charges 14,471 14,708 36,866 37,348
Other service charges, commissions and fees, Non-banking        
Non-interest income:        
Service charges $ 1,800 $ 2,015 $ 5,584 $ 5,762