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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Document Period End Date     Sep. 30, 2020  
Interest income        
Loans, including fees $ 103,249 $ 126,786 $ 324,924 $ 376,207
Investment securities        
Taxable 17,906 22,180 55,387 70,031
Tax-exempt 4,884 4,457 14,403 13,051
Total interest on investment securities 22,790 26,637 69,790 83,082
Other earning assets 31 222 220 638
Total interest income 126,070 153,645 394,934 459,927
Interest expense        
Deposits 7,886 20,151 36,002 60,006
Short-term borrowings 51 7,199 6,412 19,805
Long-term borrowings 5,953 4,760 14,482 14,764
Total interest expense 13,890 32,110 56,896 94,575
Net interest income 112,180 121,535 338,038 365,352
Provision for Credit Losses [1] 15,299 5,228 57,038 25,969
Provision for credit losses [1] (1,925) (216) 2,013 (342)
Net interest income after provision for loan and lease losses 98,806 116,523 278,987 339,725
Noninterest income        
Service Charges on Deposit Accounts 7,356 9,874 21,792 28,596
Trust and wealth management fees 3,855 3,718 12,438 11,731
Bankcard income 3,124 3,316 8,666 15,399
Client derivative fees 2,203 4,859 8,292 11,468
Foreign exchange income 10,530 1,708 27,072 1,725
Net gain from sales of loans 18,594 4,806 38,087 10,128
Net gain (loss) on sales/transfers of investment securities 2 105 (55) (110)
Other 3,835 4,754 11,316 15,668
Total noninterest income 49,499 33,140 127,608 94,605
Noninterest expenses        
Salaries and employee benefits 63,769 53,212 174,516 155,109
Net occupancy 5,625 5,509 17,107 17,735
Furniture and equipment 3,638 4,120 11,372 11,758
Data processing 6,837 5,774 20,245 15,885
Marketing 1,856 1,346 4,415 4,928
Communication 855 910 2,652 2,385
Professional services 2,443 4,771 6,923 9,062
State intangible tax 1,514 1,445 4,544 4,062
FDIC assessments 1,350 (1,097) 4,045 918
Intangible assets amortization 2,779 2,432 8,362 6,521
Other 6,845 8,020 21,685 21,082
Total noninterest expenses 97,511 86,442 275,866 249,445
Income before income taxes 50,794 63,221 130,729 184,885
Income tax expense 9,317 12,365 23,231 35,487
Net income $ 41,477 $ 50,856 $ 107,498 $ 149,398
Earnings per common share        
Basic $ 0.43 $ 0.52 $ 1.10 $ 1.52
Diluted 0.42 0.51 1.10 1.51
Cash dividends declared per share $ 0.23 $ 0.23 $ 0.69 $ 0.67
Average common shares outstanding - basic 97,247,080 98,517,025 97,400,942 98,177,802
Average common shares outstanding - diluted 98,008,733 99,077,723 98,117,463 98,723,173
[1] Beginning January 1, 2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on incurred loss methodology.