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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED - 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 $ 104,384 $ 106,560 $ 319,563 $ 288,721
Interest on loans held for sale 379 398 1,465 1,094
Interest on deposits with banks 302 84 395 419
Interest and dividends on investment securities:        
Taxable 3,958 4,488 12,230 17,270
Tax-advantaged 2,106 1,454 6,560 4,264
Interest on federal funds sold 0 0 0 1
Total interest income 111,129 112,984 340,213 311,769
Interest expense:        
Interest on deposits 3,521 9,439 12,202 35,241
Interest on retail repurchase agreements and federal funds purchased 43 551 139 1,731
Interest on advances from FHLB 0 2,841 2,649 3,863
Interest on subordinated debt 961 2,669 5,973 7,602
Total interest expense 4,525 15,500 20,963 48,437
Net interest income 106,604 97,484 319,250 263,332
Provision/ (credit) for credit losses (8,229) 7,003 (47,141) 90,158
Net interest income after provision/ (credit) for credit losses 114,833 90,481 366,391 173,174
Non-interest income:        
Investment securities gains 49 51 178 432
Insurance agency commissions 2,285 2,122 5,685 5,439
Income from bank owned life insurance 818 708 2,203 2,162
Other income 3,025 1,418 12,309 5,276
Total non-interest income 24,394 29,390 79,519 70,482
Non-interest expense:        
Salaries and employee benefits 38,653 36,041 114,295 98,391
Occupancy expense of premises 5,728 5,575 16,712 16,147
Equipment expense 3,214 3,133 9,456 9,103
Marketing 1,376 1,305 3,640 3,223
Outside data services 2,317 2,614 6,860 6,365
FDIC insurance 361 1,340 3,303 3,200
Amortization of intangible assets 1,635 1,968 4,991 4,566
Merger and acquisition expense 0 1,263 45 25,171
Professional fees and services 3,031 1,800 7,927 5,466
Other expenses 6,866 5,898 27,100 22,489
Total non-interest expense 63,181 60,937 194,329 194,121
Income before income tax expense 76,046 58,934 251,581 49,535
Income tax expense 19,070 14,292 61,878 9,244
Net income $ 56,976 $ 44,642 $ 189,703 $ 40,291
Per share information:        
Basic net income/ (loss) per common share (in dollars per share) $ 1.21 $ 0.94 $ 4.00 $ 0.93
Diluted net income/ (loss) per share (in dollars per share) 1.20 0.94 3.98 0.93
Dividends declared per share (in dollars per share) $ 0.32 $ 0.30 $ 0.96 $ 0.90
Service charges on deposit accounts        
Non-interest income:        
Fees and commissions, mortgage banking and servicing $ 2,108 $ 1,673 $ 5,936 $ 5,149
Mortgage banking activities        
Non-interest income:        
Fees and commissions, mortgage banking and servicing 4,942 14,108 20,887 25,567
Wealth management income        
Non-interest income:        
Fees and commissions, mortgage banking and servicing 9,392 7,785 27,243 22,355
Bank card fees        
Non-interest income:        
Fees and commissions, mortgage banking and servicing $ 1,775 $ 1,525 $ 5,078 $ 4,102