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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest Income        
Interest and fees on loans $ 78,722 $ 67,259 $ 212,631 $ 200,939
Interest and dividends on investments:        
Taxable interest 6,080 6,560 18,844 18,226
Interest exempt from federal income taxes 117 142 363 460
Dividends 204 105 488 386
Interest on bank deposits 577 130 1,346 297
Total interest income 85,700 74,196 233,672 220,308
Interest Expense        
Interest on deposits 1,028 1,269 2,638 4,753
Interest on short-term borrowings 50 19 89 77
Interest on subordinated debentures 2,157 2,146 6,429 6,410
Interest on other long-term debt 48 56 151 596
Interest on lease obligations 57 61 171 185
Total interest expense 3,340 3,551 9,478 12,021
Net Interest Income 82,360 70,645 224,194 208,287
Provision for credit losses 5,923 330 11,986 1,353
Net Interest Income after Provision for Credit Losses 76,437 70,315 212,208 206,934
Noninterest Income        
Net securities gains 0 0 2 16
Trust income 2,777 3,118 8,063 8,340
Service charges on deposit accounts 5,194 4,770 14,695 13,127
Insurance and retail brokerage commissions 2,048 2,218 6,806 6,368
Income from bank owned life insurance 1,419 1,486 4,310 4,946
Gain on sale of mortgage loans 1,485 3,485 4,328 11,615
Gain on sale of other loans and assets 1,093 2,480 4,511 6,281
Card-related interchange income 6,980 7,052 20,607 20,885
Derivatives mark to market 6 218 395 1,371
Swap fee income 2,326 317 3,933 1,715
Other income 2,586 2,101 6,749 6,022
Total noninterest income 25,914 27,245 74,399 80,686
Noninterest Expense        
Salaries and employee benefits 32,486 31,066 94,367 88,084
Net occupancy expense 4,629 3,960 13,586 12,614
Furniture and equipment expense 4,005 4,052 11,592 11,866
Data processing expense 3,721 3,196 10,379 9,440
Advertising and promotion 1,278 1,150 3,938 3,829
Intangible amortization 1,569 1,257 3,487 3,347
Intangible amortization 746 868 2,470 2,597
Other professional fees and services 1,204 1,308 3,622 3,150
FDIC insurance 796 830 2,196 1,964
Loss on sale or write-down of assets 54 171 215 223
Litigation and operational losses 758 589 1,987 1,624
Merger and acquisition related 448 0 448 0
COVID-19 Related Expenses 39 50 118 357
Branch consolidation expenses 0 0 (104) 18
Other Noninterest Expense 8,168 6,530 23,003 19,316
Total noninterest expense 59,901 55,027 171,304 158,429
Income Before Income Taxes 42,450 42,533 115,303 129,191
Income tax provision 8,482 8,441 22,855 25,710
Net Income $ 33,968 $ 34,092 $ 92,448 $ 103,481
Average Shares Outstanding (in shares) 93,194,854 95,616,421 93,761,360 95,883,868
Average Shares Outstanding Assuming Dilution (in shares) 93,450,259 95,892,304 93,994,158 96,130,602
Per Share Data:        
Basic Earnings per Share (in dollars per share) $ 0.36 $ 0.36 $ 0.99 $ 1.08
Diluted Earnings per Share (in dollars per share) 0.36 0.36 0.98 1.08
Cash Dividends Declared per Common Share (in dollars per share) $ 0.120 $ 0.115 $ 0.355 $ 0.340