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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest Income        
Loans $ 136,104,000 $ 140,819,000 $ 269,878,000 $ 288,605,000
Investment securities 16,217,000 20,386,000 31,924,000 40,624,000
Other short-term investments 1,679,000 839,000 3,348,000 3,042,000
Total interest income 154,000,000 162,044,000 305,150,000 332,271,000
Interest Expense        
Deposits 3,131,000 10,077,000 6,588,000 27,194,000
Borrowed funds 3,112,000 3,156,000 6,219,000 8,997,000
Senior and subordinated debt 3,469,000 3,577,000 6,940,000 7,271,000
Total interest expense 9,712,000 16,810,000 19,747,000 43,462,000
Net interest income 144,288,000 145,234,000 285,403,000 288,809,000
Provision for loan losses 0 32,649,000 6,098,000 72,181,000
Net interest income after provision for loan losses 144,288,000 112,585,000 279,305,000 216,628,000
Noninterest Income        
Wealth management fees 14,555,000 11,942,000 28,704,000 24,303,000
Service charges on deposit accounts 10,778,000 9,125,000 20,758,000 20,906,000
Mortgage banking income 6,749,000 3,477,000 16,936,000 5,265,000
Card-based fees 4,764,000 3,180,000 9,320,000 7,148,000
Capital market products income 1,954,000 694,000 4,043,000 5,416,000
Other service charges, commissions, and fees 2,823,000 2,078,000 5,584,000 4,760,000
Net securities losses 0 0 0 (1,005,000)
Other income 4,647,000 2,495,000 6,728,000 5,560,000
Total noninterest income 46,270,000 32,991,000 92,073,000 72,353,000
Noninterest Expense        
Salaries and employee benefits 64,211,000 63,672,000 130,612,000 126,531,000
Net occupancy and equipment expense 13,654,000 15,116,000 28,406,000 29,343,000
Technology and related costs 10,453,000 9,853,000 20,737,000 18,401,000
Professional services 7,568,000 8,880,000 15,627,000 19,270,000
Net OREO expense 160,000 126,000 749,000 546,000
Other expenses 17,569,000 17,434,000 34,139,000 32,849,000
Acquisition and integration related expenses 7,773,000 5,249,000 8,018,000 10,721,000
Optimization costs 31,000 0 1,556,000 0
Total noninterest expense 121,419,000 120,330,000 239,844,000 237,661,000
Income before income tax expense 69,139,000 25,246,000 131,534,000 51,320,000
Income tax expense 18,018,000 6,182,000 35,390,000 12,650,000
Net income 51,121,000 19,064,000 96,144,000 38,670,000
Preferred dividends (4,034,000) (1,037,000) (8,068,000) (1,037,000)
Net income applicable to unvested restricted shares (521,000) (187,000) (1,007,000) (379,000)
Net income applicable to common shareholders $ 46,566,000 $ 17,840,000 $ 87,069,000 $ 37,254,000
Per Common Share Data        
Basic earnings per common share (in dollars per share) $ 0.41 $ 0.16 $ 0.77 $ 0.33
Diluted earnings per common share (in dollars per share) 0.41 0.16 0.77 0.33
Dividends declared per common share (in dollars per share) $ 0.14 $ 0.14 $ 0.28 $ 0.28
Weighted-average common shares outstanding (in Shares) 112,865 113,145 112,980 111,533
Weighted-average diluted common shares outstanding (in Shares) 113,640 113,336 113,737 111,872