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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest Income        
Interest and fees on loans $ 69,515 $ 65,367 $ 133,909 $ 133,680
Interest and dividends on investments:        
Taxable interest 6,286 6,302 12,764 11,666
Interest exempt from federal income taxes 120 154 246 318
Dividends 149 138 284 281
Interest on bank deposits 658 90 769 167
Total interest income 76,728 72,051 147,972 146,112
Interest Expense        
Interest on deposits 797 1,433 1,610 3,485
Interest on short-term borrowings 18 27 39 58
Interest on subordinated debentures 2,143 2,136 4,272 4,264
Interest on other long-term debt 51 194 103 540
Interest on lease obligations 57 62 114 124
Total interest expense 3,066 3,852 6,138 8,471
Net Interest Income 73,662 68,199 141,834 137,641
Provision for credit losses 4,099 5,413 6,063 1,023
Net Interest Income after Provision for Credit Losses 69,563 62,786 135,771 136,618
Noninterest Income        
Net securities gains 0 10 2 16
Trust income 2,573 2,706 5,286 5,222
Service charges on deposit accounts 4,886 4,310 9,501 8,357
Insurance and retail brokerage commissions 2,486 1,978 4,758 4,150
Income from bank owned life insurance 1,383 1,509 2,891 3,460
Gain on sale of mortgage loans 1,561 3,084 2,843 8,130
Gain on sale of other loans and assets 1,099 2,111 3,418 3,801
Card-related interchange income 7,137 7,406 13,627 13,833
Derivatives mark to market 42 (277) 389 1,153
Swap fee income 1,154 1,252 1,607 1,398
Other income 2,188 1,997 4,163 3,921
Total noninterest income 24,509 26,086 48,485 53,441
Noninterest Expense        
Salaries and employee benefits 30,949 28,347 61,881 57,018
Net occupancy expense 4,170 3,881 8,957 8,654
Furniture and equipment expense 3,857 3,866 7,587 7,814
Data processing expense 3,470 3,192 6,658 6,244
Advertising and promotion 1,434 1,355 2,660 2,679
Intangible amortization 913 1,258 1,918 2,090
Intangible amortization 862 863 1,724 1,729
Other professional fees and services 1,197 1,091 2,418 1,842
FDIC insurance 702 438 1,400 1,134
Loss on sale or write-down of assets 86 43 161 52
Litigation and operational losses 629 556 1,229 1,035
COVID-19 Related Expenses 62 232 79 306
Branch consolidation expenses (202) (22) (104) 18
Other Noninterest Expense 7,550 6,442 14,835 12,786
Total noninterest expense 55,679 51,542 111,403 103,401
Income Before Income Taxes 38,393 37,330 72,853 86,658
Income tax provision 7,639 7,711 14,373 17,269
Net Income $ 30,754 $ 29,619 $ 58,480 $ 69,389
Average Shares Outstanding (in shares) 94,020,240 96,012,828 94,049,308 96,019,808
Average Shares Outstanding Assuming Dilution (in shares) 94,245,770 96,282,425 94,273,808 96,255,475
Per Share Data:        
Basic Earnings per Share (in dollars per share) $ 0.33 $ 0.31 $ 0.62 $ 0.72
Diluted Earnings per Share (in dollars per share) 0.33 0.31 0.62 0.72
Cash Dividends Declared per Common Share (in dollars per share) $ 0.120 $ 0.115 $ 0.235 $ 0.225