XML 21 R4.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest income:      
Real estate secured loans $ 224,925 $ 223,361 $ 215,231
Commercial loans 82,157 82,540 79,371
Consumer loans 16,922 18,579 19,906
Available for sale debt securities and Federal Home Loan Bank Stock 25,446 31,842 30,981
Held to maturity debt securities 11,461 12,424 12,606
Deposits, federal funds sold and other short-term investments 2,398 2,724 1,734
Total interest income 363,309 371,470 359,829
Interest expense:      
Deposits 33,589 45,494 30,693
Borrowed funds 16,638 28,003 28,460
Subordinated debentures 512 0 0
Total interest expense 50,739 73,497 59,153
Net interest income 312,570 297,973 300,676
Provision for credit losses 29,719 13,100 23,700
Net interest income after provision for credit losses 282,851 284,873 276,976
Non-interest income:      
Fees 23,847 28,321 28,084
Wealth management income 25,733 22,503 17,957
Insurance agency income 3,513    
Bank-owned life insurance 6,491 6,297 5,514
Net gain on securities transactions 81 72 2,221
Other income 12,766 6,601 4,900
Total non-interest income 72,431 63,794 58,676
Non-interest expense:      
Compensation and employee benefits 130,868 116,849 111,496
Net occupancy expense 27,142 25,895 25,056
Data processing expense 20,767 16,836 14,664
FDIC Insurance 3,116 1,316 3,482
Advertising and promotion expense 4,400 4,115 3,836
Provision for credit loss for off-balance sheet credit exposure 1,814 0 0
Amortization of intangibles 3,425 2,740 2,127
Other operating expenses 36,196 33,828 31,074
Total non-interest expenses 227,728 201,579 191,735
Income before income tax expense 127,554 147,088 143,917
Income tax expense 30,603 34,455 25,530
Net income $ 96,951 $ 112,633 $ 118,387
Basic earnings per share (in dollars per share) $ 1.39 $ 1.74 $ 1.82
Average basic shares outstanding (in shares) 69,548,499 64,604,224 64,942,886
Diluted earnings per share (in dollars per share) $ 1.39 $ 1.74 $ 1.82
Average diluted shares outstanding (in shares) 69,625,958 64,734,591 65,103,097