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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest and dividend income:        
Loans $ 179,261 $ 182,834 $ 353,048 $ 362,807
Investment securities 26,491 18,192 49,738 32,512
Money market investments and interest-bearing cash accounts 2,873 433 3,693 782
Total interest and dividend income 208,625 201,459 406,479 396,101
Interest expense:        
Deposits 7,694 10,782 15,346 23,124
Securities sold under agreements to repurchase 1,972 2,543 4,154 4,821
Advances from FHLB 1,075 2,066 2,138 4,529
Other borrowings 1,698 1,285 3,031 2,579
Total interest expense 12,439 16,676 24,669 35,053
Net interest income 196,186 184,783 381,810 361,048
Provision for credit losses - expense (benefit):        
Loans and finance leases 12,665 (26,302) (4,324) (40,745)
Provision for credit losses - expense (benefit) 10,003 (26,155) (3,799) (41,407)
Net interest income after provision for credit losses 186,183 210,938 385,609 402,455
Non-interest income:        
Service charges and fees on deposit accounts 9,466 8,788 18,829 17,092
Mortgage banking activities 4,082 6,404 9,288 13,677
Insurance commission income 2,946 2,215 8,221 7,456
Other non-interest income 14,447 12,477 27,461 22,615
Total non-interest income 30,941 29,884 63,799 60,840
Non-interest expenses:        
Employees' compensation and benefits 51,304 49,714 100,858 100,556
Occupancy and equipment 21,505 24,116 43,891 48,358
Business promotion 4,042 3,225 7,505 6,195
Professional service fees 12,036 16,764 22,630 34,465
Taxes, other than income taxes 4,689 5,576 9,707 11,775
FDIC deposit insurance 1,466 1,922 3,139 3,910
Net (gain) loss on OREO and OREO expenses (1,485) (139) (2,205) 1,759
Credit and debit card processing expenses 5,843 6,795 9,964 11,073
Communications 1,978 2,407 4,129 4,869
Merger and restructuring costs 0 11,047 0 22,314
Other non-interest expenses 6,948 8,745 15,367 18,199
Total non-interest expenses 108,326 130,172 214,985 263,473
Income before income taxes 108,798 110,650 234,423 199,822
Income tax expense 34,103 40,092 77,128 68,114
Net income 74,695 70,558 157,295 131,708
Net income attributable to common stockholders $ 74,695 $ 69,889 $ 157,295 $ 130,370
Net income per common share:        
Basic $ 0.38 $ 0.33 $ 0.80 $ 0.61
Diluted $ 0.38 $ 0.33 $ 0.80 $ 0.60
Debt Securities [Member]        
Provision for credit losses - expense (benefit):        
Other credit losses $ (3,474) $ 1,816 $ (109) $ 1,713
Unfunded Loan Commitment [Member]        
Provision for credit losses - expense (benefit):        
Other credit losses $ 812 $ (1,669) $ 634 $ (2,375)