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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - 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 $ 69,809 $ 78,083 $ 213,434 $ 227,903
Interest and dividends on investment securities:        
Taxable interest income 8,466 10,247 26,807 31,583
Non-taxable interest income 1,141 1,180 3,458 3,456
Other interest income 213 2,181 1,596 4,496
Total interest income 79,629 91,691 245,295 267,438
Interest expense:        
Deposits 6,105 14,753 26,053 41,407
Federal funds purchased and securities sold under agreements to repurchase 88 579 596 1,789
Short-term borrowings 30 200 215 885
Long-term debt 38 700 495 2,020
Senior notes 400 400 1,199 1,199
Subordinated notes 2,475 731 4,518 2,193
Junior subordinated debt owed to unconsolidated trusts 740 852 2,220 2,658
Total interest expense 9,876 18,215 35,296 52,151
Net interest income 69,753 73,476 209,999 215,287
Provision for credit losses 5,549 3,411 35,656 8,039
Net interest income after provision for credit losses 64,204 70,065 174,343 207,248
Non-interest income:        
Mortgage revenue 5,793 3,331 9,879 8,127
Income on bank owned life insurance 1,022 1,573 4,361 4,653
Net gains (losses) on sales of securities 11 296 1,710 112
Unrealized gains (losses) recognized on equity securities (437) 65 (1,234) (735)
Other income 3,339 3,228 5,888 6,370
Total non-interest income 32,285 30,936 87,766 84,777
Non-interest expense:        
Salaries, wages and employee benefits 32,839 38,747 95,397 105,356
Data processing 3,937 5,032 12,383 15,049
Net occupancy expense of premises 4,256 4,652 13,419 13,365
Furniture and equipment expenses 2,325 2,489 7,311 6,936
Professional fees 1,698 2,622 5,508 9,001
Amortization of intangible assets 2,493 2,360 7,569 6,866
Other expense 8,994 12,219 28,537 36,731
Total non-interest expense 56,542 68,121 170,124 193,304
Income before income taxes 39,947 32,880 91,985 98,721
Income taxes 9,118 8,052 19,986 24,339
Net income $ 30,829 $ 24,828 $ 71,999 $ 74,382
Basic earnings per common share (in dollars per share) $ 0.56 $ 0.45 $ 1.32 $ 1.36
Diluted earnings per common share (in dollars per share) 0.56 0.45 1.31 1.35
Dividends declared per share of common stock (in dollars per share) $ 0.22 $ 0.21 $ 0.66 $ 0.63
Wealth management fees        
Non-interest income:        
Non-interest income $ 10,548 $ 8,821 $ 32,296 $ 27,338
Fees for customer services        
Non-interest income:        
Non-interest income 8,014 9,842 23,400 27,635
Remittance processing        
Non-interest income:        
Non-interest income $ 3,995 $ 3,780 $ 11,466 $ 11,277