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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 income        
Loans, including fees $ 122,170 $ 96,428 $ 306,443 $ 292,853
Investment securities        
Taxable 26,331 20,088 72,066 58,219
Tax-exempt 5,014 4,282 14,361 14,196
Total interest on investment securities 31,345 24,370 86,427 72,415
Other earning assets 1,597 23 2,222 76
Total interest income 155,112 120,821 395,092 365,344
Interest expense        
Deposits 6,386 3,320 11,972 11,346
Short-term borrowings 6,158 68 8,041 188
Long-term borrowings 4,676 4,023 13,832 12,498
Total interest expense 17,220 7,411 33,845 24,032
Net interest income 137,892 113,410 361,247 341,312
Provision for Credit Losses-loans and leases 7,898 (8,193) (1,958) (9,499)
Provision for credit losses-unfunded commitments 386 (1,951) 3,641 (896)
Net interest income after provision for credit losses 129,608 123,554 359,564 351,707
Noninterest income        
Service Charges on Deposit Accounts 6,279 8,548 21,656 23,231
Trust and wealth management fees 5,487 5,896 17,858 17,742
Bankcard income 3,484 3,838 10,644 10,698
Client derivative fees 1,447 2,273 3,619 5,624
Foreign exchange income 11,752 9,191 35,373 31,985
Operating Lease, Lease Income 7,127 0 20,450 0
Net gain from sales of loans 3,729 8,586 12,842 26,529
Net gain (loss) on sales of investment securities (179) (314) (176) (745)
Net gain (loss) on equity securities (701) 108 (1,954) 381
Other 4,109 4,411 13,294 10,401
Total noninterest income 42,534 42,537 133,606 125,846
Noninterest expenses        
Salaries and employee benefits 66,808 61,717 195,747 183,754
Net occupancy 5,669 5,571 16,774 16,810
Furniture and equipment 3,222 3,318 9,990 10,658
Data processing 8,497 7,951 25,095 23,102
Marketing 2,523 2,435 6,546 5,831
Communication 657 669 1,993 2,253
Professional services 2,346 2,199 6,719 5,678
State intangible tax 1,090 1,202 3,311 3,605
FDIC assessments 1,885 1,466 5,021 4,177
Intangible assets amortization 2,783 2,479 8,612 7,438
Amortization of operating leases 5,746 0 14,302 0
Other 23,842 10,051 36,797 27,901
Total noninterest expenses 125,068 99,058 330,907 291,207
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total 47,074 67,033 162,263 186,346
Income tax (benefit) expense (8,631) 7,021 13,737 28,131
Net income $ 55,705 $ 60,012 $ 148,526 $ 158,215
Earnings per common share        
Basic $ 0.60 $ 0.64 $ 1.59 $ 1.65
Diluted $ 0.59 $ 0.63 $ 1.57 $ 1.64
Average common shares outstanding - basic 93,582,250 94,289,097 93,507,831 95,752,759
Average common shares outstanding - diluted 94,793,766 95,143,930 94,504,453 96,617,600