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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest and dividend income:        
Loans $ 178,956 $ 156,189 $ 541,763 $ 447,110
Investment securities 20,248 13,808 52,760 44,222
Money market investments and interest-bearing cash accounts 968 405 1,750 2,950
Total interest income and dividend income 200,172 170,402 596,273 494,282
Interest expense:        
Deposits 9,682 16,088 32,806 52,739
Loans payable 0 0 0 21
Securities sold under agreements to repurchase 2,571 1,484 7,392 5,282
Advances from FHLB 1,899 2,778 6,428 8,656
Other borrowings 1,277 1,356 3,856 5,029
Total interest expense 15,429 21,706 50,482 71,727
Net interest income 184,743 148,696 545,791 422,555
Provision for credit losses - (benefit) expense:        
Loans and finance leases (8,734) 48,078 (49,479) 158,531
Provision for credit losses (benefit) expense (12,082) 46,914 (53,489) 163,294
Net interest income after provision for credit losses 196,825 101,782 599,280 259,261
Non-interest income:        
Service charges and fees on deposit accounts 8,690 5,848 25,782 16,280
Mortgage banking activities 6,098 7,099 19,775 14,573
Net gain on sales of investment securities 0 5,288 0 13,380
Gain on early extinguishment of debt 0 94 0 94
Insurance commission income 2,318 1,473 9,774 7,436
Other non-interest income 12,840 10,132 35,455 29,263
Total non-interest income 29,946 29,934 90,786 81,026
Non-interest expenses:        
Employees' compensation and benefits 50,220 43,063 150,776 125,454
Occupancy and equipment 23,306 19,064 71,664 50,567
Business promotion 3,370 3,046 9,565 8,982
Professional fees 13,554 11,563 48,019 35,324
Taxes, other than income taxes 5,238 4,510 17,013 11,967
Federal Deposit Insurance Corporation ("FDIC") deposit insurance 1,381 1,630 5,291 4,588
Net (gain) loss on OREO and OREO expenses (2,288) 1,019 (529) 3,018
Credit and debit card processing expenses 5,573 4,859 16,646 12,747
Communications 2,250 2,246 7,119 5,975
Merger and restructuring costs 2,268 10,441 24,582 14,188
Other non-interest expenses 9,164 6,067 27,363 16,668
Total non-interest expenses 114,036 107,508 377,509 289,478
Income before income taxes 112,735 24,208 312,557 50,809
Income tax expense (benefit) 37,057 (4,405) 105,171 (1,326)
Net income 75,678 28,613 207,386 52,135
Net income attributable to common stockholders $ 75,009 $ 27,944 $ 205,379 $ 50,128
Net income per common share:        
Basic $ 0.36 $ 0.13 $ 0.97 $ 0.23
Diluted $ 0.36 $ 0.13 $ 0.96 $ 0.23
Debt Securities [Member]        
Provision for credit losses - (benefit) expense:        
Provision for Other Credit Losses $ (2,377) $ (361) $ (664) $ 2,404
Unfunded Loan Commitment [Member]        
Provision for credit losses - (benefit) expense:        
Provision for Other Credit Losses $ (971) $ (803) $ (3,346) $ 2,359