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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 income:        
Loans, including fees $ 87,630 $ 91,816 $ 169,118 $ 183,930
Investment securities:        
Taxable 16,938 5,014 30,128 9,889
Tax-exempt 351 377 701 772
Other interest income 4,665 772 6,069 1,262
Total interest income 109,584 97,979 206,016 195,853
Interest expense:        
Savings deposits 1,296 990 2,397 1,919
Time deposits 2,277 2,929 4,781 6,127
Securities sold under repurchase agreements 241 142 425 283
Other borrowings 1,907 1,908 3,795 3,797
Junior subordinated deferrable interest debentures 962 702 1,671 1,410
Total interest expense 6,683 6,671 13,069 13,536
Net interest income 102,901 91,308 192,947 182,317
Provision for credit losses 3,735 1,144 5,216 2,336
Net interest income after provision for credit losses 99,166 90,164 187,731 179,981
Non-interest income:        
Investment securities transactions, net       (4)
Other investments, net 1,219 58,920 4,101 63,005
Other income 8,798 7,634 17,890 11,264
Total non-interest income 43,242 97,906 86,754 134,143
Non-interest expense:        
Employee compensation and benefits 31,045 30,548 62,164 60,710
Occupancy 6,189 6,530 12,461 12,147
Depreciation of bank premises and equipment 5,455 6,436 10,930 13,235
Professional fees 2,942 2,281 5,260 5,117
Deposit insurance assessments 1,979 927 3,036 1,814
Net operations, other real estate owned (47) 3,668 (455) 4,913
Advertising 1,455 1,456 2,895 2,879
Software and software maintenance 4,372 4,526 8,549 8,966
Other 15,366 13,582 28,034 22,358
Total non-interest expense 68,756 69,954 132,874 132,139
Income before income taxes 73,652 118,116 141,611 181,985
Provision for income taxes 15,681 26,090 30,147 39,188
Net income $ 57,971 $ 92,026 $ 111,464 $ 142,797
Basic earnings per common share:        
Weighted average number of shares outstanding (in shares) 62,950,103 63,362,817 63,150,061 63,335,289
Net income (in dollars per share) $ 0.92 $ 1.45 $ 1.77 $ 2.25
Fully diluted earnings per common share:        
Weighted average number of shares outstanding (in shares) 63,085,429 63,518,556 63,290,738 63,469,284
Net income (in dollars per share) $ 0.92 $ 1.45 $ 1.76 $ 2.25
Services charges on deposit accounts        
Non-interest income:        
Service charges $ 18,248 $ 15,774 $ 35,505 $ 30,677
Other service charges, commissions and fees, Banking        
Non-interest income:        
Service charges 12,935 13,233 25,451 25,416
Other service charges, commissions and fees, Non-banking        
Non-interest income:        
Service charges $ 2,042 $ 2,345 $ 3,807 $ 3,785