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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest Income        
Interest and fees on loans $ 89,296 $ 102,297 $ 278,979 $ 302,007
Interest and dividends on investment securities 4,141 4,904 14,139 15,740
Interest on balances with other banks and short-term investments 384 1,762 2,104 4,533
Interest on federal funds sold 12 71 84 167
Total interest income 93,833 109,034 295,306 322,447
Interest Expense        
Interest on deposits 10,995 24,576 44,055 67,937
Interest on customer repurchase agreements 84 82 257 255
Interest on short-term borrowings 505 408 1,363 1,983
Interest on long-term borrowings 3,211 2,979 9,486 8,937
Total interest expense 14,795 28,045 55,161 79,112
Net Interest Income 79,038 80,989 240,145 243,335
Provision for Credit Losses 6,607 3,186 40,654 10,146
Provision for Unfunded Commitments (2,078) 0 974 0
Net Interest Income After Provision For Credit Losses 74,509 77,803 198,517 233,189
Noninterest Income        
Service charges on deposits 1,061 1,494 3,428 4,794
Gain on sale of loans 12,226 2,563 16,249 5,874
Gain on sale of investment securities 115 153 1,650 1,628
Increase in the cash surrender value of bank owned life insurance 413 431 1,655 1,285
Other income 4,029 1,673 12,827 5,384
Total noninterest income 17,844 6,314 35,809 18,965
Noninterest Expense        
Salaries and employee benefits 19,388 19,095 54,289 60,482
Premises and equipment expenses 5,125 3,503 12,414 11,007
Marketing and advertising 928 1,210 3,117 3,626
Data processing 2,700 2,183 7,955 7,161
Legal, accounting and professional fees 3,097 3,625 14,064 8,074
FDIC insurance 2,152 85 5,556 2,327
Other expenses 3,525 3,772 11,759 12,459
Total noninterest expense 36,915 33,473 109,154 105,136
Income Before Income Tax Expense 55,438 50,644 125,172 147,018
Income Tax Expense 14,092 14,149 31,847 39,531
Net Income $ 41,346 $ 36,495 $ 93,325 $ 107,487
Earnings Per Common Share        
Basic net income per common share (in dollars per share) $ 1.28 $ 1.07 $ 2.88 $ 3.12
Diluted net income per common share (in dollars per share) $ 1.28 $ 1.07 $ 2.88 $ 3.12