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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 $ 71,101 $ 75,797 $ 141,563 $ 148,733
Interest and dividends on investment securities:        
Taxable 995 1,712 2,083 3,778
Tax-exempt 608 647 1,374 1,460
Dividends 263 442 519 842
Interest on federal funds sold and other short-term investments 84 79 133 578
Total interest income 73,051 78,677 145,672 155,391
Interest expense        
Deposits 6,424 13,597 14,009 30,809
Borrowings 3,618 4,290 7,491 8,511
Total interest expense 10,042 17,887 21,500 39,320
Net interest income 63,009 60,790 124,172 116,071
(Reversal of) provision for credit losses (1,649) 15,000 (7,415) 31,000
Net interest income after (reversal of) provision for credit losses 64,658 45,790 131,587 85,071
Noninterest income        
Deposit, loan and other income 2,222 3,212 3,390 4,499
Income on bank owned life insurance 1,185 1,128 2,249 2,095
Net gains on sale of loans held-for-sale 847 237 1,554 630
Gain on sale of branches 674
Net gains (losses) on equity securities 23 44 (164) 222
Net gains on sales/redemption of securities available-for-sale 195 195 29
Total noninterest income 4,472 4,621 7,898 7,475
Noninterest expenses        
Salaries and employee benefits 15,351 14,529 30,983 29,122
Occupancy and equipment 3,187 3,156 6,591 6,627
FDIC insurance 580 1,093 1,515 1,949
Professional and consulting 2,117 1,673 4,073 3,247
Marketing and advertising 278 426 519 730
Data processing 1,603 1,586 3,139 3,059
Merger and restructuring expenses 5,146 14,640
Amortization of core deposit intangibles 508 652 1,015 1,304
Increase in value of acquisition price 2,333 2,333
Other components of net periodic pension expense (67) (29) (134) (59)
Other expenses 2,702 2,498 5,043 5,169
Total noninterest expenses 26,259 33,063 52,744 68,121
Income before income tax expense 42,871 17,348 86,741 24,425
Income tax expense 10,652 2,516 21,523 3,563
Net income $ 32,219 $ 14,832 $ 65,218 $ 20,862
Earnings per common share:        
Basic $ 0.81 $ 0.37 $ 1.64 $ 0.53
Diluted $ 0.81 $ 0.37 $ 1.63 $ 0.52