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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest Income        
Interest and fees on loans $ 74,714 $ 66,105 $ 218,524 $ 188,529
Interest and dividends on investments:        
Taxable interest 6,995 7,899 22,871 23,031
Interest exempt from federal income taxes 398 410 1,231 1,231
Dividends 387 420 1,419 1,412
Interest on bank deposits 81 39 181 109
Total interest income 82,575 74,873 244,226 214,312
Interest Expense        
Interest on deposits 9,846 6,006 27,298 14,639
Interest on short-term borrowings 1,620 2,603 8,075 7,387
Interest on subordinated debentures 2,232 2,302 6,930 4,664
Interest on other long-term debt 362 76 656 228
Interest on lease obligations 70 73 210 221
Total interest expense 14,130 11,060 43,169 27,139
Net Interest Income 68,445 63,813 201,057 187,173
Provision for credit losses 2,708 2,961 9,638 11,032
Net Interest Income after Provision for Credit Losses 65,737 60,852 191,419 176,141
Noninterest Income        
Net securities gains 9 0 15 8,102
Trust income 2,325 2,206 6,221 6,014
Service charges on deposit accounts 4,954 4,589 13,792 13,418
Insurance and retail brokerage commissions 1,912 1,872 5,887 5,560
Income from bank owned life insurance 1,540 1,579 4,408 5,241
Gain on sale of mortgage loans 2,599 1,542 6,101 4,267
Gain on sale of other loans and assets 970 643 3,831 3,548
Card-related interchange income 5,629 5,044 15,800 14,929
Derivatives mark to market (45) 0 (88) 789
Swap fee income 421 528 1,634 1,115
Other income 1,865 1,754 5,356 5,125
Total noninterest income 22,179 19,757 62,957 68,108
Noninterest Expense        
Salaries and employee benefits 28,674 26,553 83,205 77,580
Net occupancy expense 4,521 4,341 13,878 12,932
Furniture and equipment expense 3,904 3,424 11,396 10,611
Data processing expense 2,825 2,853 7,988 7,764
Advertising and promotion 1,140 1,200 3,611 3,185
Intangible amortization 1,189 1,248 3,365 3,398
Intangible amortization 865 817 2,364 2,430
Collection and repossession expense 649 630 1,656 2,060
Other professional fees and services 969 962 2,755 3,000
FDIC insurance 35 217 1,164 1,590
Loss on sale or write-down of assets 152 181 1,398 875
Litigation and operational losses 308 435 1,264 811
Merger and acquisition related 3,738 24 3,772 1,634
Other Noninterest Expense 5,928 6,645 19,040 17,662
Total noninterest expense 54,897 49,530 156,856 145,532
Income Before Income Taxes 33,019 31,079 97,520 98,717
Income tax provision 6,375 5,930 19,007 18,217
Net Income $ 26,644 $ 25,149 $ 78,513 $ 80,500
Average Shares Outstanding (in shares) 98,267,229 100,226,647 98,363,539 98,998,497
Average Shares Outstanding Assuming Dilution (in shares) 98,547,898 100,490,812 98,615,787 99,197,568
Per Share Data:        
Basic Earnings per Share (in dollars per share) $ 0.27 $ 0.25 $ 0.80 $ 0.81
Diluted Earnings per Share (in dollars per share) 0.27 0.25 0.80 0.81
Cash Dividends Declared per Common Share (in dollars per share) $ 0.10 $ 0.09 $ 0.30 $ 0.26