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Business Segments (Tables)
6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Financial Information by Business Segment

Condensed financial information by business segment is presented below:

 

 

 

 

 

 

 

Trust and

 

 

 

 

 

 

 

Community

 

 

Investment

 

 

 

 

 

(unaudited, in thousands)

 

Banking

 

 

Services

 

 

Consolidated

 

For The Three Months Ended June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Interest and dividend income

 

$

119,543

 

 

$

 

 

$

119,543

 

Interest expense

 

 

21,083

 

 

 

 

 

 

21,083

 

Net interest income

 

 

98,460

 

 

 

 

 

 

98,460

 

Provision for credit losses

 

 

2,747

 

 

 

 

 

 

2,747

 

Net interest income after provision for credit losses

 

 

95,713

 

 

 

 

 

 

95,713

 

Non-interest income

 

 

24,817

 

 

 

6,339

 

 

 

31,156

 

Non-interest expense

 

 

67,957

 

 

 

3,995

 

 

 

71,952

 

Income before provision for income taxes

 

 

52,573

 

 

 

2,344

 

 

 

54,917

 

Provision for income taxes

 

 

9,611

 

 

 

492

 

 

 

10,103

 

Net income

 

$

42,962

 

 

$

1,852

 

 

$

44,814

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For The Three Months Ended June 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

Interest and dividend income

 

$

98,888

 

 

$

 

 

$

98,888

 

Interest expense

 

 

16,541

 

 

 

 

 

 

16,541

 

Net interest income

 

 

82,347

 

 

 

 

 

 

82,347

 

Provision for credit losses

 

 

1,708

 

 

 

 

 

 

1,708

 

Net interest income after provision for credit losses

 

 

80,639

 

 

 

 

 

 

80,639

 

Non-interest income

 

 

17,656

 

 

 

5,752

 

 

 

23,408

 

Non-interest expense

 

 

60,026

 

 

 

3,517

 

 

 

63,543

 

Income before provision for income taxes

 

 

38,269

 

 

 

2,235

 

 

 

40,504

 

Provision for income taxes

 

 

6,865

 

 

 

470

 

 

 

7,335

 

Net income

 

$

31,404

 

 

$

1,765

 

 

$

33,169

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Six Months Ended June 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Interest and dividend income

 

$

238,596

 

 

$

 

 

$

238,596

 

Interest expense

 

 

41,774

 

 

 

 

 

 

41,774

 

Net interest income

 

 

196,822

 

 

 

 

 

 

196,822

 

Provision for credit losses

 

 

5,254

 

 

 

 

 

 

5,254

 

Net interest income after provision for credit losses

 

 

191,568

 

 

 

 

 

 

191,568

 

Non-interest income

 

 

45,475

 

 

 

13,454

 

 

 

58,929

 

Non-interest expense

 

 

138,233

 

 

 

8,152

 

 

 

146,385

 

Income before provision for income taxes

 

 

98,810

 

 

 

5,302

 

 

 

104,112

 

Provision for income taxes

 

 

17,848

 

 

 

1,113

 

 

 

18,961

 

Net income

 

$

80,962

 

 

$

4,189

 

 

$

85,151

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Six Months Ended June 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

Interest and dividend income

 

$

185,203

 

 

$

 

 

$

185,203

 

Interest expense

 

 

29,667

 

 

 

 

 

 

29,667

 

Net interest income

 

 

155,536

 

 

 

 

 

 

155,536

 

Provision for credit losses

 

 

3,876

 

 

 

 

 

 

3,876

 

Net interest income after provision for credit losses

 

 

151,660

 

 

 

 

 

 

151,660

 

Non-interest income

 

 

35,236

 

 

 

12,255

 

 

 

47,491

 

Non-interest expense

 

 

110,920

 

 

 

7,194

 

 

 

118,114

 

Income before provision for income taxes

 

 

75,976

 

 

 

5,061

 

 

 

81,037

 

Provision for income taxes

 

 

13,276

 

 

 

1,063

 

 

 

14,339

 

Net income

 

$

62,700

 

 

$

3,998

 

 

$

66,698