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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest, fee and dividend income        
Interest and fees on loans $ 74,998 $ 81,082 $ 230,996 $ 241,674
Securities available for sale 5,603 5,711 16,956 17,664
Securities held to maturity 3,734 4,586 11,751 14,892
Other 659 1,002 2,138 2,728
Total interest, fee and dividend income 84,994 92,381 261,841 276,958
Interest expense        
Deposits 4,267 10,745 18,183 29,805
Short-term borrowings 446 1,989 3,215 7,986
Long-term debt 398 498 1,184 1,391
Subordinated debt 1,375 0 1,503 0
Junior subordinated debt 565 1,095 2,186 3,404
Total interest expense 7,051 14,327 26,271 42,586
Net interest income 77,943 78,054 235,570 234,372
Provision for loan losses [1] 3,261 6,324 51,741 19,408
Net interest income after provision for loan losses 74,682 71,730 183,829 214,964
Noninterest income        
Service charges on deposit accounts 3,087 4,330 9,613 12,790
ATM and debit card fees 7,194 6,277 19,184 17,958
Retirement plan administration fees 9,685 7,600 26,840 23,170
Wealth management 7,695 7,630 21,791 21,315
Insurance 3,742 4,000 11,303 12,291
Bank owned life insurance income 1,255 1,556 4,010 4,119
Net securities gains (losses) 84 4,036 (548) 4,024
Other 4,985 4,291 15,968 12,115
Total noninterest income 37,727 39,720 108,161 107,782
Noninterest expense        
Salaries and employee benefits 40,451 39,352 120,918 117,275
Occupancy 5,294 5,335 16,354 17,053
Data processing and communications 4,058 4,492 12,370 13,599
Professional fees and outside services 3,394 3,535 10,694 10,562
Equipment 5,073 4,487 14,494 13,762
Office supplies and postage 1,530 1,667 4,621 4,835
FDIC expense (credit) 645 (20) 1,949 1,946
Advertising 530 677 1,461 1,821
Amortization of intangible assets 856 874 2,573 2,735
Loan collection and other real estate owned, net 620 976 2,365 2,722
Other 3,857 8,374 14,730 18,130
Total noninterest expense 66,308 69,749 202,529 204,440
Income before income tax expense 46,101 41,701 89,461 118,306
Income tax expense 10,988 9,322 19,267 26,245
Net income $ 35,113 $ 32,379 $ 70,194 $ 92,061
Earnings per share        
Basic (in dollars per share) $ 0.80 $ 0.74 $ 1.61 $ 2.10
Diluted (in dollars per share) $ 0.80 $ 0.73 $ 1.60 $ 2.09
[1] Beginning January 1, 2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on incurred loss methodology.