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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income:        
Interest and fees on loans $ 75,825 $ 79,646 $ 231,446 $ 236,931
Interest and dividends on taxable investments 17,361 14,881 49,325 45,633
Interest and dividends on nontaxable investments 2,480 2,963 7,920 9,113
Total interest income 95,666 97,490 288,691 291,677
Interest expense:        
Interest on deposits 2,822 3,655 8,897 13,373
Interest on borrowings 195 292 716 1,280
Interest on subordinated notes payable 38 184 115 553
Interest on subordinated debt held by unconsolidated subsidiary trusts 0 394 293 1,501
Total interest expense 3,055 4,525 10,021 16,707
Net interest income 92,611 92,965 278,670 274,970
Provision for credit losses (944) 1,945 (11,001) 17,313
Net interest income after provision for credit losses 93,555 91,020 289,671 257,657
Noninterest revenues:        
Deposit service fees 15,442 14,260 43,758 42,722
Mortgage banking 460 3,908 1,479 6,199
Other banking services 996 924 2,830 2,574
Employee benefit services 29,923 25,159 83,933 74,593
Insurance services 9,176 8,531 25,538 24,772
Wealth management services 8,322 6,889 24,748 20,389
Unrealized (loss) gain on equity securities (10) (12) 14 (30)
Total noninterest revenues 64,309 59,659 182,300 171,219
Noninterest expenses:        
Salaries and employee benefits 62,883 57,280 178,407 170,252
Occupancy and equipment 9,867 10,134 31,437 30,627
Data processing and communications 12,966 12,096 38,123 33,342
Amortization of intangible assets 3,703 3,581 10,300 10,772
Legal and professional fees 3,352 2,365 8,885 8,577
Business development and marketing 2,383 3,145 7,071 7,162
Litigation accrual (100) 2,950 (100) 2,950
Acquisition expenses 102 796 133 4,537
Other expenses 5,280 4,619 12,969 13,313
Total noninterest expenses 100,436 96,966 287,225 281,532
Income before income taxes 57,428 53,713 184,746 147,344
Income taxes 12,092 10,904 38,616 29,153
Net income $ 45,336 $ 42,809 $ 146,130 $ 118,191
Basic earnings per share (in dollars per share) $ 0.84 $ 0.80 $ 2.70 $ 2.23
Diluted earnings per share (in dollars per share) $ 0.83 $ 0.79 $ 2.68 $ 2.22