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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Interest and fees on loans $ 77,959 $ 75,907 $ 150,473 $ 155,621
Interest and dividends on taxable investments 24,899 16,789 47,491 31,964
Interest and dividends on nontaxable investments 3,317 2,664 5,907 5,440
Total interest income 106,175 95,360 203,871 193,025
Interest expense:        
Interest on deposits 2,691 2,963 5,256 6,075
Interest on borrowings 304 253 525 521
Interest on subordinated notes payable 39 39 77 77
Interest on subordinated debt held by unconsolidated subsidiary trusts 0 0 0 293
Total interest expense 3,034 3,255 5,858 6,966
Net interest income 103,141 92,105 198,013 186,059
Provision for credit losses 6,038 (4,338) 6,944 (10,057)
Net interest income after provision for credit losses 97,103 96,443 191,069 196,116
Noninterest revenues:        
Deposit service fees 16,138 14,236 32,293 28,316
Mortgage banking 269 331 424 1,019
Other banking services 870 980 1,609 1,834
Employee benefit services 28,921 27,477 58,501 54,010
Insurance services 9,780 8,209 20,189 16,362
Wealth management services 8,141 8,227 16,774 16,426
Unrealized (loss) gain on equity securities (22) 0 (20) 24
Total noninterest revenues 64,097 59,460 129,770 117,991
Noninterest expenses:        
Salaries and employee benefits 65,398 57,892 127,046 115,524
Occupancy and equipment 10,424 10,270 21,376 21,570
Data processing and communications 13,611 12,766 26,270 25,157
Amortization of intangible assets 3,851 3,246 7,583 6,597
Legal and professional fees 3,385 2,499 7,002 5,533
Business development and marketing 3,616 2,659 6,359 4,689
Acquisition expenses 3,960 4 4,259 31
Acquisition-related contingent consideration adjustment 400 0 400 0
Other expenses 5,779 4,207 9,936 7,688
Total noninterest expenses 110,424 93,543 210,231 186,789
Income before income taxes 50,776 62,360 110,608 127,318
Income taxes 10,971 14,416 23,748 26,524
Net income $ 39,805 $ 47,944 $ 86,860 $ 100,794
Basic earnings per share $ 0.74 $ 0.89 $ 1.61 $ 1.86
Diluted earnings per share $ 0.73 $ 0.88 $ 1.60 $ 1.85