XML 17 R3.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest Income        
Interest and fees on loans $ 67,259 $ 67,474 $ 200,939 $ 207,290
Interest and dividends on investments:        
Taxable interest 6,560 5,598 18,226 19,064
Interest exempt from federal income taxes 142 268 460 850
Dividends 105 159 386 536
Interest on bank deposits 130 94 297 163
Total interest income 74,196 73,593 220,308 227,903
Interest Expense        
Interest on deposits 1,269 4,621 4,753 18,756
Interest on short-term borrowings 19 35 77 670
Interest on subordinated debentures 2,146 2,146 6,410 6,434
Interest on other long-term debt 56 356 596 1,065
Interest on lease obligations 61 66 185 199
Total interest expense 3,551 7,224 12,021 27,124
Net Interest Income 70,645 66,369 208,287 200,779
Provision for credit losses 330 11,212 1,353 49,038
Net Interest Income after Provision for Credit Losses 70,315 55,157 206,934 151,741
Noninterest Income        
Net securities gains 0 20 16 47
Trust income 3,118 2,554 8,340 6,774
Service charges on deposit accounts 4,770 4,035 13,127 12,066
Insurance and retail brokerage commissions 2,218 2,156 6,368 5,982
Income from bank owned life insurance 1,486 1,547 4,946 4,963
Gain on sale of mortgage loans 3,485 6,437 11,615 13,226
Gain on sale of other loans and assets 2,480 1,871 6,281 3,151
Card-related interchange income 7,052 6,441 20,885 17,589
Derivatives mark to market 218 (160) 1,371 (2,122)
Swap fee income 317 41 1,715 864
Other income 2,101 1,827 6,022 5,314
Total noninterest income 27,245 26,769 80,686 67,854
Noninterest Expense        
Salaries and employee benefits 31,066 28,823 88,084 87,573
Net occupancy expense 3,960 4,609 12,614 13,979
Furniture and equipment expense 4,052 4,033 11,866 11,468
Data processing expense 3,196 2,741 9,440 7,804
Advertising and promotion 1,150 1,115 3,829 3,800
Intangible amortization 1,257 1,254 3,347 3,246
Intangible amortization 868 939 2,597 2,792
Other professional fees and services 1,308 937 3,150 2,755
FDIC insurance 830 876 1,964 1,637
Loss on sale or write-down of assets 171 63 223 416
Litigation and operational losses 589 329 1,624 1,038
COVID-19 Related Expenses 50 125 357 567
Voluntary retirement plan expenses 0 3,304 0 3,304
Branch consolidation expenses 0 2,544 18 2,544
Other Noninterest Expense 6,530 6,555 19,316 18,351
Total noninterest expense 55,027 58,247 158,429 161,274
Income Before Income Taxes 42,533 23,679 129,191 58,321
Income tax provision 8,441 4,493 25,710 10,557
Net Income $ 34,092 $ 19,186 $ 103,481 $ 47,764
Average Shares Outstanding (in shares) 95,616,421 97,917,096 95,883,868 97,990,749
Average Shares Outstanding Assuming Dilution (in shares) 95,892,304 98,160,143 96,130,602 98,224,506
Per Share Data:        
Basic Earnings per Share (in dollars per share) $ 0.36 $ 0.20 $ 1.08 $ 0.49
Diluted Earnings per Share (in dollars per share) 0.36 0.20 1.08 0.49
Cash Dividends Declared per Common Share (in dollars per share) $ 0.115 $ 0.110 $ 0.340 $ 0.330