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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest Income        
Interest and fees on loans $ 65,367 $ 68,076 $ 133,680 $ 139,816
Interest and dividends on investments:        
Taxable interest 6,302 6,493 11,666 13,466
Interest exempt from federal income taxes 154 267 318 582
Dividends 138 113 281 377
Interest on bank deposits 90 32 167 69
Total interest income 72,051 74,981 146,112 154,310
Interest Expense        
Interest on deposits 1,433 5,686 3,485 14,135
Interest on short-term borrowings 27 47 58 635
Interest on subordinated debentures 2,136 2,142 4,264 4,288
Interest on other long-term debt 194 354 540 709
Interest on lease obligations 62 66 124 133
Total interest expense 3,852 8,295 8,471 19,900
Net Interest Income 68,199 66,686 137,641 134,410
Provision for credit losses 5,413 6,859 1,023 37,826
Net Interest Income after Provision for Credit Losses 62,786 59,827 136,618 96,584
Noninterest Income        
Net securities gains 10 8 16 27
Trust income 2,706 2,109 5,222 4,220
Service charges on deposit accounts 4,310 3,286 8,357 8,031
Insurance and retail brokerage commissions 1,978 1,831 4,150 3,826
Income from bank owned life insurance 1,509 1,800 3,460 3,416
Gain on sale of mortgage loans 3,084 4,243 8,130 6,789
Gain on sale of other loans and assets 2,111 581 3,801 1,280
Card-related interchange income 7,406 5,886 13,833 11,148
Derivatives mark to market (277) (221) 1,153 (1,962)
Swap fee income 1,252 609 1,398 823
Other income 1,997 1,680 3,921 3,487
Total noninterest income 26,086 21,812 53,441 41,085
Noninterest Expense        
Salaries and employee benefits 28,347 28,773 57,018 58,750
Net occupancy expense 3,881 4,397 8,654 9,370
Furniture and equipment expense 3,866 3,657 7,814 7,435
Data processing expense 3,192 2,596 6,244 5,063
Advertising and promotion 1,355 1,535 2,679 2,685
Intangible amortization 1,258 1,254 2,090 1,992
Intangible amortization 863 919 1,729 1,853
Other professional fees and services 1,091 920 1,842 1,818
FDIC insurance 438 733 1,134 761
Loss on sale or write-down of assets 43 140 52 353
Litigation and operational losses 556 319 1,035 709
COVID-19 Related Expenses 232 419 306 442
Branch consolidation expenses (22) 0 18 0
Other Noninterest Expense 6,442 7,094 12,786 11,796
Total noninterest expense 51,542 52,756 103,401 103,027
Income Before Income Taxes 37,330 28,883 86,658 34,642
Income tax provision 7,711 5,032 17,269 6,064
Net Income $ 29,619 $ 23,851 $ 69,389 $ 28,578
Average Shares Outstanding (in shares) 96,012,828 97,932,333 96,019,808 98,027,980
Average Shares Outstanding Assuming Dilution (in shares) 96,282,425 98,146,854 96,255,475 98,254,429
Per Share Data:        
Basic Earnings per Share (in dollars per share) $ 0.31 $ 0.24 $ 0.72 $ 0.29
Diluted Earnings per Share (in dollars per share) 0.31 0.24 0.72 0.29
Cash Dividends Declared per Common Share (in dollars per share) $ 0.115 $ 0.110 $ 0.225 $ 0.220