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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest and fees on loans      
Taxable $ 176,538 $ 196,733 $ 181,451
Tax exempt 647 951 814
Interest and dividends on securities      
Taxable 6,973 8,909 9,717
Tax exempt 8,577 7,127 6,079
Interest on short-term investments 368 1,490 909
Total interest income 193,103 215,210 198,970
Interest on deposits 29,342 57,148 44,913
Interest on borrowings      
Short-term 506 1,311 1,143
Long-term 247 1,704 1,643
Total interest expense 30,095 60,163 47,699
NET INTEREST INCOME 163,008 155,047 151,271
Provision for loan losses 14,770 3,235 6,400
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 148,238 151,812 144,871
NONINTEREST INCOME      
Wealth advisory fees 7,468 6,835 6,344
Investment brokerage fees 1,670 1,687 1,458
Service charges on deposit accounts 10,110 15,717 15,831
Loan and service fees 10,085 9,911 9,291
Merchant and interchange fee income 2,408 2,641 2,461
Bank owned life insurance income 2,105 1,890 1,244
Interest rate swap fee income 5,089 1,691 475
Mortgage banking income 3,911 1,626 1,150
Net securities gains (losses) 433 142 (50)
Other income 3,564 2,857 2,098
Total noninterest income 46,843 44,997 40,302
NONINTEREST EXPENSE      
Salaries and employee benefits 49,413 48,742 47,645
Net occupancy expense 5,851 5,295 5,149
Equipment costs 5,766 5,521 5,243
Data processing fees and supplies 11,864 10,407 9,685
Corporate and business development 3,093 4,371 5,066
FDIC insurance and other regulatory fees 1,707 638 1,701
Professional fees 5,314 4,644 3,798
Other expense 8,197 9,806 7,942
Total noninterest expense 91,205 89,424 86,229
INCOME BEFORE INCOME TAX EXPENSE 103,876 107,385 98,944
Income tax expense 19,539 20,338 18,533
NET INCOME $ 84,337 $ 87,047 $ 80,411
BASIC WEIGHTED AVERAGE COMMON SHARES 25,469,242 25,588,404 25,288,533
BASIC EARNINGS PER COMMON SHARE $ 3.31 $ 3.40 $ 3.18
DILUTED WEIGHTED AVERAGE COMMON SHARES 25,573,941 25,758,893 25,727,831
DILUTED EARNINGS PER COMMON SHARE $ 3.30 $ 3.38 $ 3.13
Wealth advisory fees      
NONINTEREST INCOME      
Wealth advisory fees $ 7,468 $ 6,835 $ 6,344