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CONSOLIDATED STATEMENTS OF INCOME - 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 $ 75,907 $ 78,720 $ 155,621 $ 157,285
Interest and dividends on taxable investments 16,789 15,423 31,964 30,752
Interest and dividends on nontaxable investments 2,664 3,049 5,440 6,150
Total interest income 95,360 97,192 193,025 194,187
Interest expense:        
Interest on deposits 2,963 4,173 6,075 9,718
Interest on borrowings 253 430 521 988
Interest on subordinated notes payable 39 184 77 369
Interest on subordinated debt held by unconsolidated subsidiary trusts 0 454 293 1,107
Total interest expense 3,255 5,241 6,966 12,182
Net interest income 92,105 91,951 186,059 182,005
Provision for credit losses (4,338) 9,774 (10,057) 15,368
Net interest income after provision for credit losses 96,443 82,177 196,116 166,637
Noninterest revenues:        
Deposit service fees 14,236 12,179 28,316 28,462
Mortgage banking 331 1,375 1,019 2,291
Other banking services 980 755 1,834 1,650
Employee benefit services 27,477 24,068 54,010 49,434
Insurance services 8,209 8,183 16,362 16,241
Wealth management services 8,227 6,366 16,426 13,500
Unrealized gain (loss) on equity securities 0 12 24 (18)
Total noninterest revenues 59,460 52,938 117,991 111,560
Noninterest expenses:        
Salaries and employee benefits 57,892 54,721 115,524 112,972
Occupancy and equipment 10,270 9,754 21,570 20,493
Data processing and communications 12,766 10,833 25,157 21,246
Amortization of intangible assets 3,246 3,524 6,597 7,191
Legal and professional fees 2,499 3,061 5,533 6,212
Business development and marketing 2,659 1,504 4,689 4,017
Acquisition expenses 4 3,372 31 3,741
Other expenses 4,207 4,134 7,688 8,694
Total noninterest expenses 93,543 90,903 186,789 184,566
Income before income taxes 62,360 44,212 127,318 93,631
Income taxes 14,416 8,964 26,524 18,249
Net income $ 47,944 $ 35,248 $ 100,794 $ 75,382
Basic earnings per share (in dollars per share) $ 0.89 $ 0.67 $ 1.86 $ 1.44
Diluted earnings per share (in dollars per share) $ 0.88 $ 0.66 $ 1.85 $ 1.43