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CONDENSED CONSOLIDATED STATEMENTS OF INCOME/(LOSS) - UNAUDITED - 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 $ 107,751 $ 106,279 $ 215,179 $ 182,161
Interest on loans held for sale 549 405 1,086 696
Interest on deposits with banks 47 155 93 335
Interest and dividends on investment securities:        
Taxable 4,373 6,650 8,272 12,782
Tax-advantaged 2,103 1,438 4,454 2,810
Interest on federal funds sold 0 0 0 1
Total interest income 114,823 114,927 229,084 198,785
Interest expense:        
Interest on deposits 3,851 12,284 8,681 25,802
Interest on retail repurchase agreements and federal funds purchased 43 600 96 1,180
Interest on advances from FHLB 373 (2,123) 2,649 1,022
Interest on subordinated debt 2,510 2,652 5,012 4,933
Total interest expense 6,777 13,413 16,438 32,937
Net interest income 108,046 101,514 212,646 165,848
Provision/ (credit) for credit losses (4,204) 58,686 (38,912) 83,155
Net interest income after provision/ (credit) for credit losses 112,250 42,828 251,558 82,693
Non-interest income:        
Investment securities gains 71 212 129 381
Insurance agency commissions 1,247 1,188 3,400 3,317
Income from bank owned life insurance 705 809 1,385 1,454
Other income 5,578 2,205 9,284 3,858
Total non-interest income 26,259 22,924 55,125 41,092
Non-interest expense:        
Salaries and employee benefits 38,990 34,297 75,642 62,350
Occupancy expense of premises 5,497 5,991 10,984 10,572
Equipment expense 3,020 3,219 6,242 5,970
Marketing 1,052 729 2,264 1,918
Outside data services 2,260 2,169 4,543 3,751
FDIC insurance 1,450 1,378 2,942 1,860
Amortization of intangible assets 1,659 1,998 3,356 2,598
Merger and acquisition expense 0 22,454 45 23,908
Professional fees and services 3,165 1,840 4,896 3,666
Other expenses 5,882 11,363 20,234 16,591
Total non-interest expense 62,975 85,438 131,148 133,184
Income/ (loss) before income tax expense/ (benefit) 75,534 (19,686) 175,535 (9,399)
Income tax expense/ (benefit) 18,271 (5,348) 42,808 (5,048)
Net income/ (loss) $ 57,263 $ (14,338) $ 132,727 $ (4,351)
Per share information:        
Basic net income per common share (in dollars per share) $ 1.20 $ (0.31) $ 2.79 $ (0.11)
Diluted net income per common share (in dollars per share) 1.19 (0.31) 2.77 (0.11)
Dividends declared per share (in dollars per share) $ 0.32 $ 0.30 $ 0.64 $ 0.60
Service charges on deposit accounts        
Non-interest income:        
Fees and commissions, mortgage banking and servicing $ 1,976 $ 1,223 $ 3,828 $ 3,476
Mortgage banking activities        
Non-interest income:        
Fees and commissions, mortgage banking and servicing 5,776 8,426 15,945 11,459
Wealth management income        
Non-interest income:        
Fees and commissions, mortgage banking and servicing 9,121 7,604 17,851 14,570
Bank card fees        
Non-interest income:        
Fees and commissions, mortgage banking and servicing $ 1,785 $ 1,257 $ 3,303 $ 2,577