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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest Income        
Interest and fees on loans $ 68,076 $ 73,389 $ 139,816 $ 143,810
Interest and dividends on investments:        
Taxable interest 6,493 7,712 13,466 15,876
Interest exempt from federal income taxes 267 415 582 833
Dividends 113 495 377 1,032
Interest on bank deposits 32 46 69 100
Total interest income 74,981 82,057 154,310 161,651
Interest Expense        
Interest on deposits 5,686 9,277 14,135 17,452
Interest on short-term borrowings 47 3,017 635 6,455
Interest on subordinated debentures 2,142 2,343 4,288 4,697
Interest on other long-term debt 354 224 709 295
Interest on lease obligations 66 70 133 140
Total interest expense 8,295 14,931 19,900 29,039
Net Interest Income 66,686 67,126 134,410 132,612
Provision for credit losses 6,859 2,835 37,826 6,930
Net Interest Income after Provision for Credit Losses 59,827 64,291 96,584 125,682
Noninterest Income        
Net securities gains 8 6 27 6
Trust income 2,109 1,970 4,220 3,896
Service charges on deposit accounts 3,286 4,593 8,031 8,838
Insurance and retail brokerage commissions 1,831 2,014 3,826 3,975
Income from bank owned life insurance 1,800 1,442 3,416 2,868
Gain on sale of mortgage loans 4,243 2,074 6,789 3,502
Gain on sale of other loans and assets 581 1,777 1,280 2,861
Card-related interchange income 5,886 5,441 11,148 10,171
Derivatives mark to market (221) (17) (1,962) (43)
Swap fee income 609 820 823 1,213
Other income 1,680 1,786 3,487 3,491
Total noninterest income 21,812 21,906 41,085 40,778
Noninterest Expense        
Salaries and employee benefits 28,773 27,311 58,750 54,531
Net occupancy expense 4,397 4,441 9,370 9,357
Furniture and equipment expense 3,657 3,824 7,435 7,492
Data processing expense 2,596 2,619 5,063 5,163
Advertising and promotion 1,535 1,231 2,685 2,471
Intangible amortization 1,254 1,260 1,992 2,176
Intangible amortization 919 745 1,853 1,499
Collection and repossession expense 341 460 905 1,007
Other professional fees and services 920 1,032 1,818 1,786
FDIC insurance 733 555 761 1,129
Loss on sale or write-down of assets 140 1,181 353 1,246
Litigation and operational losses 319 555 709 956
Off-Balance Sheet, Credit Loss, Liability, Change in Method, Credit Loss Expense (Reversal) 887 612 (1,652) 231
COVID-19 Related Expenses 419 0 442 0
Other Noninterest Expense 5,866 6,403 12,543 12,915
Total noninterest expense 52,756 52,229 103,027 101,959
Income Before Income Taxes 28,883 33,968 34,642 64,501
Income tax provision 5,032 6,688 6,064 12,632
Net Income $ 23,851 $ 27,280 $ 28,578 $ 51,869
Average Shares Outstanding (in shares) 97,932,333 98,346,674 98,027,980 98,412,492
Average Shares Outstanding Assuming Dilution (in shares) 98,146,854 98,600,609 98,254,429 98,651,810
Per Share Data:        
Basic Earnings per Share (in dollars per share) $ 0.24 $ 0.28 $ 0.29 $ 0.53
Diluted Earnings per Share (in dollars per share) 0.24 0.28 0.29 0.53
Cash Dividends Declared per Common Share (in dollars per share) $ 0.11 $ 0.10 $ 0.22 $ 0.20