XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Loans receivable:        
Taxable $ 84,162 $ 96,850 $ 268,126 $ 280,155
Tax exempt 5,395 4,500 16,069 12,897
Investment securities:        
Taxable 5,399 6,729 19,177 19,822
Tax exempt 10,931 8,335 30,285 22,660
Deposits with financial institutions 90 1,363 799 3,022
Federal Home Loan Bank stock 248 355 828 1,028
Total Interest Income 106,225 118,132 335,284 339,584
INTEREST EXPENSE        
Deposits 9,776 24,830 44,231 67,511
Federal funds purchased 5 15 118 225
Securities sold under repurchase agreements 83 385 527 1,057
Federal Home Loan Bank advances 1,749 1,894 5,317 5,400
Subordinated debentures and other borrowings 1,691 2,076 5,275 6,315
Total Interest Expense 13,304 29,200 55,468 80,508
NET INTEREST INCOME 92,921 88,932 279,816 259,076
Provision for loan losses 12,544 600 54,191 2,300
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 80,377 88,332 225,625 256,776
OTHER INCOME        
Net gains and fees on sales of loans 5,841 2,227 12,878 5,258
Increase in cash surrender value of life insurance 1,170 1,144 3,761 3,060
Gains on life insurance benefits 1 0 96 19
Net realized gains on sales of available for sale securities 1,817 393 9,497 3,376
Other income 132 524 1,425 1,918
Total Other Income 26,163 22,116 82,443 62,443
OTHER EXPENSES        
Salaries and employee benefits 39,187 38,942 114,128 104,679
Net occupancy 5,855 4,777 17,103 14,273
Equipment 4,956 4,030 13,789 11,789
Marketing 1,311 1,332 4,846 5,158
Outside data processing fees 3,776 4,435 10,593 12,048
Printing and office supplies 331 312 997 961
Intangible asset amortization 1,486 1,356 4,511 4,404
FDIC assessments 1,249 (668) 4,244 717
Other real estate owned and foreclosure expenses 717 294 1,906 2,362
Professional and other outside services 2,254 8,251 6,065 12,511
Other expenses 3,587 4,293 12,687 12,660
Total Other Expenses 64,709 67,354 190,869 181,562
INCOME BEFORE INCOME TAX 41,831 43,094 117,199 137,657
Income tax expense 5,621 6,337 13,734 21,027
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 36,210 $ 36,757 $ 103,465 $ 116,630
Per Share Data:        
Basic Net Income Available to Common Stockholders (in dollars per share) $ 0.67 $ 0.71 $ 1.91 $ 2.33
Diluted Net Income Available to Common Stockholders (in dollars per share) 0.67 0.71 1.91 2.32
Cash Dividends Paid (in dollars per share) $ 0.26 $ 0.26 $ 0.78 $ 0.74
Average Diluted Shares Outstanding (in shares) 53,970,598 51,569,557 54,277,882 50,227,380
Commercial and industrial loans        
Per Share Data:        
Increase in non-accrual loans     $ 4,700  
Service charges on deposit accounts        
OTHER INCOME        
Other income $ 5,209 $ 6,107 15,491 $ 16,639
Fiduciary and wealth management fees        
OTHER INCOME        
Other income 5,910 4,429 17,496 12,178
Card payment fees        
OTHER INCOME        
Other income 3,996 5,158 16,000 14,813
Derivative hedge fees        
OTHER INCOME        
Other income 1,715 1,684 4,696 3,952
Other customer fees        
OTHER INCOME        
Other income $ 372 $ 450 $ 1,103 $ 1,230