XML 16 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest and dividend income:        
Loans $ 191,740 $ 178,956 $ 544,788 $ 541,763
Investment securities 26,289 20,248 76,027 52,760
Money market investments and interest-bearing cash accounts 4,654 968 8,347 1,750
Total interest and dividend income 222,683 200,172 629,162 596,273
Interest expense:        
Deposits 9,978 9,682 25,324 32,806
Securities sold under agreements to repurchase 1,993 2,571 6,147 7,392
Advances from FHLB 529 1,899 2,667 6,428
Other borrowings 2,273 1,277 5,304 3,856
Total interest expense 14,773 15,429 39,442 50,482
Net interest income 207,910 184,743 589,720 545,791
Provision for credit losses - expense (benefit):        
Loans and finance leases 14,352 (8,734) 10,028 (49,479)
Provision for credit losses - expense (benefit) 15,783 (12,082) 11,984 (53,489)
Net interest income after provision for credit losses 192,127 196,825 577,736 599,280
Non-interest income:        
Service charges and fees on deposit accounts 9,820 8,690 28,649 25,782
Mortgage banking activities 3,400 6,098 12,688 19,775
Insurance commission income 2,624 2,318 10,845 9,774
Other non-interest income 13,849 12,840 41,310 35,455
Total non-interest income 29,693 29,946 93,492 90,786
Non-interest expenses:        
Employees' compensation and benefits 52,939 50,220 153,797 150,776
Occupancy and equipment 22,543 23,306 66,434 71,664
Business promotion 5,136 3,370 12,641 9,565
Professional service fees 12,549 13,554 35,179 48,019
Taxes, other than income taxes 5,349 5,238 15,056 17,013
FDIC deposit insurance 1,466 1,381 4,605 5,291
Net gain on OREO operations (1,064) (2,288) (3,269) (529)
Credit and debit card processing expenses 6,410 5,573 16,374 16,646
Communications 2,272 2,250 6,401 7,119
Merger and restructuring costs 0 2,268 0 24,582
Other non-interest expenses 7,589 9,164 22,956 27,363
Total non-interest expenses 115,189 114,036 330,174 377,509
Income before income taxes 106,631 112,735 341,054 312,557
Income tax expense 32,028 37,057 109,156 105,171
Net income 74,603 75,678 231,898 207,386
Net income attributable to common stockholders $ 74,603 $ 75,009 $ 231,898 $ 205,379
Net income per common share:        
Basic $ 0.40 $ 0.36 $ 1.20 $ 0.97
Diluted $ 0.40 $ 0.36 $ 1.19 $ 0.96
Unfunded Loan Commitment [Member]        
Provision for credit losses - expense (benefit):        
Other credit losses $ 2,071 $ (971) $ 2,705 $ (3,346)
Debt Securities [Member]        
Provision for credit losses - expense (benefit):        
Other credit losses $ (640) $ (2,377) $ (749) $ (664)