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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest Income        
Loans, including fees $ 164,171 $ 155,080 $ 313,908 $ 319,065
Investment securities: 24,144 19,819 46,497 39,162
Loans held for sale 260 199 501 671
Other interest income 1,724 1,575 2,394 2,711
Total Interest Income 190,299 176,673 363,300 361,609
Interest Expense        
Deposits 5,796 7,982 11,401 17,584
Short-term borrowings 190 137 311 325
Long-term borrowings 5,482 6,155 11,447 16,853
Total Interest Expense 11,468 14,274 23,159 34,762
Net Interest Income 178,831 162,399 340,141 326,847
Provision for credit losses 1,500 (3,500) (5,450) (9,000)
Net Interest Income After Provision for Credit Losses 177,331 165,899 345,591 335,847
Non-Interest Income        
Non-interest income before investment securities gains 58,383 51,854 113,620 113,776
Investment securities gains, net 8 36 27 33,511
Total Non-Interest Income 58,391 51,890 113,647 147,287
Non-Interest Expense        
Salaries and employee benefits 85,404 78,367 169,868 160,953
Data processing and software 14,685 13,932 29,000 27,493
Net occupancy 13,587 12,494 28,109 26,476
Other outside services 8,764 8,178 16,931 16,668
State taxes 3,568 4,384 6,605 8,889
Equipment 3,422 3,424 6,845 6,852
FDIC insurance 2,961 2,282 6,170 4,906
Professional fees 2,013 2,651 3,805 5,430
Marketing 1,326 1,348 2,646 2,350
Intangible amortization 177 178 353 293
Debt extinguishment 0 412 0 32,575
Merger-related expenses 1,027 0 1,428 0
Other 12,796 13,181 23,948 26,330
Total Non-Interest Expense 149,730 140,831 295,708 319,215
Income Before Income Taxes 85,992 76,958 163,530 163,919
Income taxes 16,003 11,994 29,253 25,892
Net Income 69,989 64,964 134,277 138,027
Preferred stock dividends (2,562) (2,562) (5,124) (5,153)
Net Income Available to Common Shareholders $ 67,427 $ 62,402 $ 129,153 $ 132,874
PER SHARE:        
Net Income (Basic) (in dollars per share) $ 0.42 $ 0.38 $ 0.80 $ 0.81
Net Income (Diluted) (in dollars per share) 0.42 0.38 0.80 0.81
Cash Dividends (in dollars per share) $ 0.15 $ 0.14 $ 0.30 $ 0.28
Commercial banking        
Non-Interest Income        
Non-interest income before investment securities gains $ 20,359 $ 17,129 $ 36,367 $ 33,471
Consumer banking        
Non-Interest Income        
Non-interest income before investment securities gains 12,472 10,860 24,146 21,614
Wealth management        
Non-Interest Income        
Non-interest income before investment securities gains 18,274 17,634 37,702 34,981
Mortgage banking        
Non-Interest Income        
Non-interest income before investment securities gains 3,768 2,838 8,344 16,798
Other        
Non-Interest Income        
Non-interest income before investment securities gains $ 3,510 $ 3,393 $ 7,061 $ 6,912