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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Interest and fees on loans $ 79,931 $ 72,256 $ 227,701 $ 212,849
Interest and dividends on taxable investments 15,862 15,421 49,376 47,462
Interest on nontaxable investments 2,854 3,226 8,603 10,001
Total interest income 98,647 90,903 285,680 270,312
Interest expense:        
Interest on deposits 5,859 2,764 14,526 7,277
Interest on borrowings 347 796 1,397 1,722
Interest on subordinated notes payable 161 0 161 0
Interest on subordinated debt held by unconsolidated subsidiary trusts 1,004 1,145 3,161 3,645
Total interest expense 7,371 4,705 19,245 12,644
Net interest income 91,276 86,198 266,435 257,668
Provision for loan losses 1,751 2,215 5,573 8,342
Net interest income after provision for loan losses 89,525 83,983 260,862 249,326
Noninterest revenues:        
Deposit service fees 16,920 16,127 48,780 54,268
Other banking revenues 945 1,536 3,628 3,942
Employee benefit services 24,329 23,265 72,170 68,813
Insurance services 8,527 8,270 24,718 23,044
Wealth management services 6,363 6,168 19,290 19,370
Gain on sales of investment securities, net 0 0 4,882 0
Unrealized gain on equity securities 10 743 28 722
Loss on debt extinguishment 0 (318) 0 (318)
Total noninterest revenues 57,094 55,791 173,496 169,841
Noninterest expenses:        
Salaries and employee benefits 56,061 51,062 163,448 155,323
Occupancy and equipment 9,801 9,770 29,708 29,738
Data processing and communications 10,675 10,509 30,475 29,463
Amortization of intangible assets 3,960 4,427 11,994 13,780
Legal and professional fees 2,595 2,522 7,999 8,047
Business development and marketing 2,604 2,587 8,532 7,301
Acquisition expenses 6,061 (832) 7,789 (769)
Other expenses 5,172 5,188 16,812 14,793
Total noninterest expenses 96,929 85,233 276,757 257,676
Income before income taxes 49,690 54,541 157,601 161,491
Income taxes 10,472 11,435 31,422 33,673
Net income $ 39,218 $ 43,106 $ 126,179 $ 127,818
Basic earnings per share (in dollars per share) $ 0.76 $ 0.84 $ 2.44 $ 2.49
Diluted earnings per share (in dollars per share) $ 0.75 $ 0.83 $ 2.41 $ 2.46