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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest income:      
Interest and fees on loans $ 314,779 $ 308,210 $ 286,165
Interest and dividends on taxable investments 62,538 65,904 63,504
Interest and dividends on nontaxable investments 11,961 11,613 13,064
Total interest income 389,278 385,727 362,733
Interest expense:      
Interest on deposits 16,761 20,460 10,658
Interest on borrowings 1,569 1,848 2,343
Interest on subordinated notes payable 670 346 0
Interest on subordinated debt held by unconsolidated subsidiary trusts 1,875 3,898 4,677
Total interest expense 20,875 26,552 17,678
Net interest income 368,403 359,175 345,055
Provision for credit losses 14,212 8,430 10,837
Net interest income after provision for credit losses 354,191 350,745 334,218
Noninterest revenues:      
Deposit service fees 57,370 65,602 70,384
Mortgage banking 5,301 523 1,400
Other banking services 3,753 4,358 3,568
Employee benefit services 101,329 97,167 92,279
Insurance services 32,372 32,199 30,317
Wealth management services 27,879 25,869 25,772
Unrealized (loss) gain on equity securities (6) 19 657
Gain (loss) on debt extinguishment 421 0 (318)
Gain on sales of investment securities, net 0 4,882 0
Total noninterest revenues 228,419 230,619 224,059
Expenses:      
Salaries and employee benefits 228,384 219,916 207,363
Occupancy and equipment 40,732 39,850 39,948
Data processing and communications 45,755 41,407 39,094
Amortization of intangible assets 14,297 15,956 18,155
Legal and professional fees 11,605 10,783 10,644
Business development and marketing 9,463 11,416 9,383
Litigation accrual 2,950 0 0
Acquisition expenses 4,933 8,608 (769)
Other expenses 18,415 24,090 21,471
Total noninterest expenses 376,534 372,026 345,289
Income before income taxes 206,076 209,338 212,988
Income taxes 41,400 40,275 44,347
Net income $ 164,676 $ 169,063 $ 168,641
Basic earnings per share (in dollars per share) $ 3.10 $ 3.26 $ 3.28
Diluted earnings per share (in dollars per share) $ 3.08 $ 3.23 $ 3.24