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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income:        
Interest and fees on loans $ 61,404 $ 71,089 $ 123,969 $ 143,625
Interest and dividends on investment securities:        
Taxable interest income 9,081 8,833 17,692 18,341
Non-taxable interest income 958 1,166 1,963 2,317
Other interest income 245 145 395 1,383
Total interest income 71,688 81,233 144,019 165,666
Interest expense:        
Deposits 3,295 7,721 7,027 19,948
Federal funds purchased and securities sold under agreements to repurchase 60 100 117 508
Short-term borrowings 64 118 83 185
Long-term debt 116 34 145 457
Senior notes 399 399 799 799
Subordinated notes 2,480 1,312 4,956 2,043
Junior subordinated debt owed to unconsolidated trusts 732 736 1,457 1,480
Total interest expense 7,146 10,420 14,584 25,420
Net interest income 64,542 70,813 129,435 140,246
Provision for credit losses (1,700) 12,891 (8,496) 30,107
Net interest income after provision for credit losses 66,242 57,922 137,931 110,139
Non-interest income:        
Income on bank owned life insurance 1,476 2,282 2,440 3,339
Net gains (losses) on sales of securities 94 125 119 1,699
Unrealized gains (losses) recognized on equity securities 804 190 2,420 (797)
Other income 2,928 1,726 4,063 2,549
Total non-interest income 33,011 27,964 64,456 55,481
Non-interest expense:        
Salaries, wages, and employee benefits 34,889 28,555 65,273 62,558
Data processing 4,819 4,051 9,099 8,446
Net occupancy expense of premises 4,246 4,448 8,809 9,163
Furniture and equipment expenses 2,066 2,537 4,092 4,986
Professional fees 2,311 1,986 4,256 3,810
Amortization of intangible assets 2,650 2,519 5,051 5,076
Interchange expense 1,442 1,198 2,926 2,367
Other expense 10,202 7,774 17,618 17,176
Total non-interest expense 62,625 53,068 117,124 113,582
Income before income taxes 36,628 32,818 85,263 52,038
Income taxes 6,862 7,012 17,681 10,868
Net income $ 29,766 $ 25,806 $ 67,582 $ 41,170
Basic earnings per common share (in dollars per share) $ 0.54 $ 0.47 $ 1.23 $ 0.75
Diluted earnings per common share (in dollars per share) 0.53 0.47 1.22 0.75
Dividends declared per share of common stock (in dollars per share) $ 0.23 $ 0.22 $ 0.46 $ 0.44
Wealth management fees        
Non-interest income:        
Non-interest income $ 13,002 $ 10,193 $ 25,586 $ 21,748
Fees for customer services        
Non-interest income:        
Non-interest income 8,611 7,025 16,648 15,386
Remittance processing        
Non-interest income:        
Non-interest income 4,349 3,718 8,767 7,471
Mortgage revenue        
Non-interest income:        
Mortgage revenue $ 1,747 $ 2,705 $ 4,413 $ 4,086