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Condensed Consolidated 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
Interest Income        
Interest and fees on loans $ 67,474 $ 74,714 $ 207,290 $ 218,524
Interest and dividends on investments:        
Taxable interest 5,598 6,995 19,064 22,871
Interest exempt from federal income taxes 268 398 850 1,231
Dividends 159 387 536 1,419
Interest on bank deposits 94 81 163 181
Total interest income 73,593 82,575 227,903 244,226
Interest Expense        
Interest on deposits 4,621 9,846 18,756 27,298
Interest on short-term borrowings 35 1,620 670 8,075
Interest on subordinated debentures 2,146 2,232 6,434 6,930
Interest on other long-term debt 356 362 1,065 656
Interest on lease obligations 66 70 199 210
Total interest expense 7,224 14,130 27,124 43,169
Net Interest Income 66,369 68,445 200,779 201,057
Provision for credit losses 11,212 2,708 49,038 9,638
Net Interest Income after Provision for Credit Losses 55,157 65,737 151,741 191,419
Noninterest Income        
Net securities gains 20 9 47 15
Trust income 2,554 2,325 6,774 6,221
Service charges on deposit accounts 4,035 4,954 12,066 13,792
Insurance and retail brokerage commissions 2,156 1,912 5,982 5,887
Income from bank owned life insurance 1,547 1,540 4,963 4,408
Gain on sale of mortgage loans 6,437 2,599 13,226 6,101
Gain on sale of other loans and assets 1,871 970 3,151 3,831
Card-related interchange income 6,441 5,629 17,589 15,800
Derivatives mark to market (160) (45) (2,122) (88)
Swap fee income 41 421 864 1,634
Other income 1,827 1,865 5,314 5,356
Total noninterest income 26,769 22,179 67,854 62,957
Noninterest Expense        
Salaries and employee benefits 28,823 28,674 87,573 83,205
Net occupancy expense 4,609 4,521 13,979 13,878
Furniture and equipment expense 4,033 3,904 11,468 11,396
Data processing expense 2,741 2,825 7,804 7,988
Advertising and promotion 1,115 1,140 3,800 3,611
Intangible amortization 1,254 1,189 3,246 3,365
Intangible amortization 939 865 2,792 2,364
Other professional fees and services 937 969 2,755 2,755
FDIC insurance 876 35 1,637 1,164
Loss on sale or write-down of assets 63 152 416 1,398
Litigation and operational losses 329 308 1,038 1,264
Merger and acquisition related 0 3,738 0 3,772
COVID-19 Related Expenses 125 0 567 0
Voluntary retirement plan expenses 3,304 0 3,304 0
Branch consolidation expenses 2,544 0 2,544 0
Other Noninterest Expense 6,555 6,577 18,351 20,696
Total noninterest expense 58,247 54,897 161,274 156,856
Income Before Income Taxes 23,679 33,019 58,321 97,520
Income tax provision 4,493 6,375 10,557 19,007
Net Income $ 19,186 $ 26,644 $ 47,764 $ 78,513
Average Shares Outstanding (in shares) 97,917,096 98,267,229 97,990,749 98,363,539
Average Shares Outstanding Assuming Dilution (in shares) 98,160,143 98,547,898 98,224,506 98,615,787
Per Share Data:        
Basic Earnings per Share (in dollars per share) $ 0.20 $ 0.27 $ 0.49 $ 0.80
Diluted Earnings per Share (in dollars per share) 0.20 0.27 0.49 0.80
Cash Dividends Declared per Common Share (in dollars per share) $ 0.11 $ 0.10 $ 0.33 $ 0.30