XML 19 R5.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest income:      
Loans $ 315,237 $ 349,221 $ 279,931
Debt securities 22,033 24,116 23,811
Equity investments and other 4,822 6,271 5,052
Total interest income 342,092 379,608 308,794
Interest expense:      
Deposits 25,210 48,290 38,432
Borrowed funds 11,544 18,367 14,391
Total interest expense 36,754 66,657 52,823
Net interest income 305,338 312,951 255,971
Credit loss (benefit) expense (11,832) 59,404 1,636
Net interest income after credit loss (benefit) expense 317,170 253,547 254,335
Other income:      
Bankcard services revenue 13,360 11,417 10,263
Net gain on sales of loans 3,186 8,278 16
Net gain on equity investments 7,145 21,214 267
Net (loss) gain from other real estate operations (15) 35 (330)
Income from bank owned life insurance 6,832 6,424 5,420
Commercial loan swap income 4,095 8,080 5,285
Other 1,159 618 642
Total other income 51,931 73,926 42,165
Operating expenses:      
Compensation and employee benefits 120,014 114,155 89,912
Occupancy 20,481 20,782 17,159
Equipment 5,443 7,769 7,719
Marketing 2,169 3,117 3,469
Federal deposit insurance and regulatory assessments 6,155 4,871 2,227
Data processing 21,570 17,467 14,814
Check card processing 5,182 5,458 5,956
Professional fees 11,043 12,247 9,338
Federal Home Loan Bank (“FHLB”) advance prepayment fees 0 14,257 0
Amortization of core deposit intangible 5,453 6,186 4,027
Branch consolidation expense 12,337 7,623 9,050
Merger related expenses 1,503 15,947 10,503
Other operating expense 15,510 16,552 14,968
Total operating expenses 226,860 246,431 189,142
Income before provision for income taxes 142,241 81,042 107,358
Provision for income taxes 32,165 17,733 18,784
Net income 110,076 63,309 88,574
Dividends on preferred shares (4,016) (2,097) 0
Net income available to common stockholders $ (106,060) $ (61,212) $ (88,574)
Basic earnings per share (in dollars per share) $ 1.79 $ 1.02 $ 1.77
Diluted earnings per share (in dollars per share) $ 1.78 $ 1.02 $ 1.75
Average basic shares outstanding (in shares) 59,406 59,919 50,166
Average diluted shares outstanding (in shares) 59,649 60,072 50,746
Trust and asset management revenue      
Other income:      
Trust and asset management revenue and fees and service charges $ 2,336 $ 2,052 $ 2,102
Fees and service charges      
Other income:      
Trust and asset management revenue and fees and service charges $ 13,833 $ 15,808 $ 18,500