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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
INTEREST INCOME    
Loans $ 151,026 $ 157,261
Securities:    
Taxable interest 27,212 25,391
Tax-exempt interest 24,404 20,697
Total securities income 51,616 46,088
Federal funds and resell agreements 5,452 3,625
Interest-bearing due from banks 2,663 3,899
Trading securities 654 434
Total interest income 211,411 211,307
INTEREST EXPENSE    
Deposits 29,732 37,834
Federal funds and repurchase agreements 6,381 8,264
Other 1,357 1,341
Total interest expense 37,470 47,439
Net interest income 173,941 163,868
Provision for credit losses [1] 88,000 12,350
Net interest income after provision for credit losses 85,941 151,518
NONINTEREST INCOME    
Trust and securities processing 47,000 41,957
Trading and investment banking 1,723 5,581
Service charges on deposit accounts 25,081 21,281
Insurance fees and commissions 259 338
Brokerage fees 9,860 7,243
Bankcard fees 16,545 17,067
Gains on sales of securities available for sale, net 1,227 809
Other (3,271) 13,106
Total noninterest income 98,424 107,382
NONINTEREST EXPENSE    
Salaries and employee benefits 111,060 116,032
Occupancy, net 12,180 11,743
Equipment 21,241 19,684
Supplies and services 4,185 3,873
Marketing and business development 4,640 4,913
Processing fees 13,390 12,132
Legal and consulting 6,110 5,633
Bankcard 4,860 4,345
Amortization of other intangible assets 1,734 1,327
Regulatory fees 2,366 2,890
Other 6,853 8,054
Total noninterest expense 188,619 190,626
(Loss) income before income taxes (4,254) 68,274
Income tax (benefit) expense (815) 10,530
NET (LOSS) INCOME $ (3,439) $ 57,744
PER SHARE DATA    
Net (loss) income – basic $ (0.07) $ 1.19
Net (loss) income – diluted (0.07) 1.18
Dividends $ 0.31 $ 0.30
Weighted average shares outstanding – basic 48,689,876 48,712,153
Weighted average shares outstanding – diluted 48,689,876 48,998,571
[1] For the three months ended March 31, 2019, this line represents the Provision for loan losses. See further discussion of this change in Note 3, “New Accounting Pronouncements.