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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest income:    
Loans $ 82,468 $ 77,908
Debt securities 7,504 5,355
Equity investments and other 1,011 1,611
Total interest income 90,983 84,874
Interest expense:    
Deposits 4,041 8,496
Borrowed funds 2,715 2,774
Total interest expense 6,756 11,270
Net interest income 84,227 73,604
Credit loss expense (benefit) 1,851 (620)
Net interest income after credit loss expense (benefit) 82,376 74,224
Other income:    
Bankcard services revenue 2,963 3,052
Net gain on sales of loans 177 1,916
Net (loss) gain on equity investments (2,786) 8,287
Net loss from other real estate operations (2) (8)
Income from bank owned life insurance 2,103 1,415
Commercial loan swap income 2,781 1,111
Other (53) 726
Total other income 8,852 20,835
Operating expenses:    
Compensation and employee benefits 30,695 28,366
Occupancy 5,744 5,061
Equipment 1,370 1,578
Marketing 616 434
Federal deposit insurance and regulatory assessments 1,890 1,864
Data processing 5,736 4,031
Check card processing 982 1,372
Professional fees 3,322 2,837
Amortization of core deposit intangible 1,210 1,395
Branch consolidation expense, net 402 1,011
Merger related expenses 1,965 381
Other operating expense 3,563 3,353
Total operating expenses 57,495 51,683
Income before provision for income taxes 33,733 43,376
Provision for income taxes 7,974 10,679
Net income 25,759 32,697
Dividends on preferred shares 1,004 1,004
Net income available to common stockholders $ 24,755 $ 31,693
Basic earnings (loss) per share (in dollars per share) $ 0.42 $ 0.53
Diluted earnings (loss) per share (in dollars per share) $ 0.42 $ 0.53
Average basic shares outstanding (in shares) 58,739 59,840
Average diluted shares outstanding (in shares) 58,943 60,101
Trust and asset management revenue    
Other income:    
Other income $ 609 $ 599
Fees and service charges    
Other income:    
Other income $ 3,060 $ 3,737