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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income        
Loans and lease financing $ 122,298 $ 146,883 $ 257,269 $ 291,289
Available-for-sale securities 17,529 24,784 38,739 49,270
Other 792 2,151 3,143 5,820
Total interest income 140,619 173,818 299,151 346,379
Interest expense        
Deposits 8,583 23,693 24,183 46,890
Short-term and long-term borrowings 4,214 4,512 8,463 8,787
Total interest expense 12,797 28,205 32,646 55,677
Net interest income 127,822 145,613 266,505 290,702
Provision for credit losses 55,446 3,870 96,646 9,550
Net interest income after provision for credit losses 72,376 141,743 169,859 281,152
Noninterest income        
Service charges on deposit accounts 5,927 8,123 14,877 16,183
Credit and debit card fees 10,870 16,629 25,819 33,284
Other service charges and fees 7,912 9,403 16,451 18,532
Trust and investment services income 8,664 8,931 18,255 17,549
Bank-owned life insurance 4,432 3,390 6,692 7,203
Investment securities (losses) gains, net (211) 21 (126) (2,592)
Other 8,062 2,276 12,916 5,686
Total noninterest income 45,656 48,773 94,884 95,845
Noninterest expense        
Salaries and employee benefits 42,414 42,185 87,243 87,045
Contracted services and professional fees 15,478 14,303 31,533 27,948
Occupancy 7,302 7,286 14,545 14,272
Equipment 5,207 4,544 9,915 8,828
Regulatory assessment and fees 2,100 2,149 4,046 3,596
Advertising and marketing 1,402 1,980 3,225 3,946
Card rewards program 5,163 7,664 12,178 14,396
Other 12,384 13,179 25,231 25,882
Total noninterest expense 91,450 93,290 187,916 185,913
Income before provision for income taxes 26,582 97,226 76,827 191,084
Provision for income taxes 6,533 24,793 17,913 48,727
Net income $ 20,049 $ 72,433 $ 58,914 $ 142,357
Basic earnings per share (in dollars per share) $ 0.15 $ 0.54 $ 0.45 $ 1.06
Diluted earnings per share (in dollars per share) $ 0.15 $ 0.54 $ 0.45 $ 1.06
Basic weighted-average outstanding shares (in shares) 129,856,730 134,420,380 129,876,218 134,655,217
Diluted weighted-average outstanding shares (in shares) 130,005,195 134,652,008 130,163,722 134,924,331