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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income:        
Loans, including fees $ 91,816 $ 97,764 $ 183,930 $ 196,994
Investment securities:        
Taxable 5,014 15,092 9,889 31,580
Tax-exempt 377 653 772 1,419
Other interest income 772 141 1,262 269
Total interest income 97,979 113,650 195,853 230,262
Interest expense:        
Savings deposits 990 1,161 1,919 4,396
Time deposits 2,929 5,319 6,127 11,289
Securities sold under repurchase agreements 142 148 283 613
Other borrowings 1,908 2,088 3,797 4,914
Junior subordinated deferrable interest debentures 702 1,080 1,410 2,353
Total interest expense 6,671 9,796 13,536 23,565
Net interest income 91,308 103,854 182,317 206,697
Provision for credit losses 1,144 10,989 2,336 27,825
Net interest income after provision for credit losses 90,164 92,865 179,981 178,872
Non-interest income:        
Investment securities transactions, net     (4) (5)
Other investments, net 58,920 617 63,005 386
Other income 7,634 6,840 11,264 11,649
Total non-interest income 97,906 33,596 134,143 68,726
Non-interest expense:        
Employee compensation and benefits 30,548 32,319 60,710 68,649
Occupancy 6,530 5,770 12,147 12,669
Depreciation of bank premises and equipment 6,436 7,190 13,235 14,299
Professional fees 2,281 3,913 5,117 7,883
Deposit insurance assessments 927 202 1,814 202
Net expense, other real estate owned 3,668 2,835 4,913 5,837
Advertising 1,456 1,892 2,879 3,876
Software and software maintenance 4,526 5,257 8,966 9,748
Other 13,582 14,530 22,358 27,726
Total non-interest expense 69,954 73,908 132,139 150,889
Income before income taxes 118,116 52,553 181,985 96,709
Provision for income taxes 26,090 11,044 39,188 20,361
Net income $ 92,026 $ 41,509 $ 142,797 $ 76,348
Basic earnings per common share:        
Weighted average number of shares outstanding (in shares) 63,362,817 63,295,597 63,335,289 64,183,093
Net income (in dollars per share) $ 1.45 $ 0.66 $ 2.25 $ 1.19
Fully diluted earnings per common share:        
Weighted average number of shares outstanding (in shares) 63,518,556 63,397,199 63,469,284 64,313,011
Net income (in dollars per share) $ 1.45 $ 0.65 $ 2.25 $ 1.19
Services charges on deposit accounts        
Non-interest income:        
Service charges $ 15,774 $ 12,880 $ 30,677 $ 30,517
Other service charges, commissions and fees, Banking        
Non-interest income:        
Service charges 13,233 11,229 25,416 22,395
Other service charges, commissions and fees, Non-banking        
Non-interest income:        
Service charges $ 2,345 $ 2,030 $ 3,785 $ 3,784