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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest Income        
Loans, including fees $ 155,080 $ 158,928 $ 319,065 $ 334,452
Investment securities:        
Taxable 13,898 15,171 27,588 31,465
Tax-exempt 5,921 5,323 11,574 10,031
Loans held for sale 199 509 671 829
Other interest income 1,575 766 2,711 3,297
Total Interest Income 176,673 180,697 361,609 380,074
Interest Expense        
Deposits 7,982 17,118 17,584 43,558
Short-term borrowings 137 517 325 4,590
Long-term borrowings 6,155 10,307 16,853 18,426
Total Interest Expense 14,274 27,942 34,762 66,574
Net Interest Income 162,399 152,755 326,847 313,500
Provision for credit losses (3,500) 19,570 (9,000) 63,600
Net Interest Income After Provision for Credit Losses 165,899 133,185 335,847 249,900
Non-Interest Income        
Non-interest income before investment securities gains 51,854 52,917 113,776 107,515
Investment securities gains, net 36 3,005 33,511 3,051
Total Non-Interest Income 51,890 55,922 147,287 110,566
Non-Interest Expense        
Salaries and employee benefits 78,367 81,012 160,953 161,240
Data processing and software 13,932 12,193 27,493 23,838
Net occupancy 12,494 13,144 26,476 26,630
Other outside services 8,178 7,600 16,668 15,481
State taxes 4,384 3,088 8,889 5,891
Equipment 3,424 3,193 6,852 6,611
Professional fees 2,651 3,331 5,430 7,533
FDIC insurance 2,282 2,133 4,906 4,941
Amortization of TCI 1,563 1,450 3,094 2,900
Marketing 1,348 1,303 2,350 2,882
Intangible amortization 178 132 293 264
Debt extinguishment 412 2,878 32,575 2,878
Other 11,618 11,549 23,236 24,469
Total Non-Interest Expense 140,831 143,006 319,215 285,558
Income Before Income Taxes 76,958 46,101 163,919 74,909
Income taxes 11,994 6,542 25,892 9,303
Net Income 64,964 39,559 138,027 65,606
Preferred stock dividends (2,562) 0 (5,153) 0
Net Income Available to Common Shareholders $ 62,402 $ 39,559 $ 132,874 $ 65,606
PER SHARE:        
Net Income (Basic) (in dollars per share) $ 0.38 $ 0.24 $ 0.81 $ 0.40
Net Income (Diluted) (in dollars per share) 0.38 0.24 0.81 0.40
Cash Dividends (in dollars per share) $ 0.14 $ 0.13 $ 0.28 $ 0.26
Other service charges and fees        
Non-Interest Income        
Non-interest income before investment securities gains $ 17,129 $ 16,748 $ 33,471 $ 35,167
Service charges on deposit accounts        
Non-Interest Income        
Non-interest income before investment securities gains 10,860 9,138 21,614 20,377
Investment management and trust services        
Non-Interest Income        
Non-interest income before investment securities gains 17,634 13,407 34,981 28,462
Mortgage banking income        
Non-Interest Income        
Non-interest income before investment securities gains 2,838 9,964 16,798 16,198
Other        
Non-Interest Income        
Non-interest income before investment securities gains $ 3,393 $ 3,660 $ 6,912 $ 7,311