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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income        
Interest and fees on loans $ 65,163 $ 69,809 $ 189,132 $ 213,434
Interest and dividends on investment securities:        
Taxable interest income 11,324 8,466 29,016 26,807
Non-taxable interest income 915 1,141 2,878 3,458
Other interest income 462 213 857 1,596
Total interest income 77,864 79,629 221,883 245,295
Interest expense        
Deposits 3,059 6,105 10,086 26,053
Federal funds purchased and securities sold under agreements to repurchase 60 88 177 596
Short-term borrowings 112 30 195 215
Long-term debt 270 38 415 495
Senior notes 400 400 1,199 1,199
Subordinated notes 2,480 2,475 7,436 4,518
Junior subordinated debt owed to unconsolidated trusts 728 740 2,185 2,220
Total interest expense 7,109 9,876 21,693 35,296
Net interest income 70,755 69,753 200,190 209,999
Provision for credit losses (1,869) 5,549 (10,365) 35,656
Net interest income after provision for credit losses 72,624 64,204 210,555 174,343
Noninterest income        
Income on bank owned life insurance 999 1,022 3,439 4,361
Net gains (losses) on sales of securities (5) 11 114 1,710
Unrealized gains (losses) recognized on equity securities 62 (437) 2,482 (1,234)
Other income 3,071 3,339 7,134 5,888
Total noninterest income 33,259 32,285 97,715 87,766
Noninterest expense        
Salaries, wages, and employee benefits 41,949 32,839 107,222 95,397
Data processing 7,782 3,937 16,881 12,383
Net occupancy expense of premises 4,797 4,256 13,606 13,419
Furniture and equipment expenses 2,208 2,325 6,300 7,311
Professional fees 1,361 1,698 5,617 5,508
Amortization of intangible assets 3,149 2,493 8,200 7,569
Interchange expense 1,434 1,223 4,360 3,590
Other expense 10,807 7,771 28,425 24,947
Total noninterest expense 73,487 56,542 190,611 170,124
Income before income taxes 32,396 39,947 117,659 91,985
Income taxes 6,455 9,118 24,136 19,986
Net income $ 25,941 $ 30,829 $ 93,523 $ 71,999
Basic earnings per common share (in dollars per share) $ 0.46 $ 0.56 $ 1.69 $ 1.32
Diluted earnings per common share (in dollars per share) 0.46 0.56 1.67 1.31
Dividends declared per share of common stock (in dollars per share) $ 0.23 $ 0.22 $ 0.69 $ 0.66
Wealth management fees        
Noninterest income        
Non-interest income $ 13,749 $ 10,548 $ 39,335 $ 32,296
Fees for customer services        
Noninterest income        
Non-interest income 9,288 8,014 25,936 23,400
Remittance processing        
Noninterest income        
Non-interest income 4,355 3,995 13,122 11,466
Mortgage revenue        
Noninterest income        
Mortgage revenue $ 1,740 $ 5,793 $ 6,153 $ 9,879