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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest Income        
Loans $ 112,656 $ 109,748 $ 337,657 $ 318,187
Taxable securities 16,457 14,654 49,790 39,285
Tax-exempt securities 2,556 3,069 8,237 9,196
Deposits in banks 864 104 1,159 600
Total interest income 132,533 127,575 396,843 367,268
Interest Expense        
Deposits 6,863 3,193 16,337 8,274
FHLB advances 2,569 966 9,962 2,351
Subordinated debentures 468 468 1,404 1,404
Other borrowings 183 152 552 288
Total interest expense 10,083 4,779 28,255 12,317
Net Interest Income 122,450 122,796 368,588 354,951
Provision for loan and lease losses 299 3,153 1,879 12,980
Net interest income after provision for loan and lease losses 122,151 119,643 366,709 341,971
Noninterest Income        
Deposit account and treasury management fees 9,015 9,266 27,030 26,689
Card revenue 4,006 3,714 11,431 16,143
Financial services and trust revenue 3,226 2,975 9,608 8,924
Loan revenue 3,855 3,282 9,840 9,522
Bank owned life insurance 1,528 1,402 4,644 4,540
Investment securities gains (losses), net 0 (62) 2,132 (73)
Other 6,400 442 10,689 2,109
Total noninterest income 28,030 21,019 75,374 67,854
Noninterest Expense        
Compensation and employee benefits 54,459 49,419 158,559 148,938
Occupancy 8,645 8,321 26,166 27,718
Data processing 5,102 4,466 14,372 14,957
Legal and professional fees 5,683 4,695 16,810 12,103
Amortization of intangibles 2,632 3,070 8,029 9,346
B&O taxes (1) [1] 1,325 1,478 4,612 4,254
Advertising and promotion 1,752 1,472 3,596 4,523
Regulatory premiums (38) 904 1,902 2,778
Net cost (benefit) of operation of OREO (90) 485 (682) 1,244
Other (1) [1] 7,606 8,531 25,140 27,610
Total noninterest expense 87,076 82,841 258,504 253,471
Income before income taxes 63,105 57,821 183,579 156,354
Income tax provision 12,378 11,406 35,257 28,220
Net Income $ 50,727 $ 46,415 $ 148,322 $ 128,134
Earnings per common share        
Basic $ 0.70 $ 0.63 $ 2.04 $ 1.75
Diluted $ 0.70 $ 0.63 $ 2.04 $ 1.75
Weighted average number of common shares outstanding 71,803 72,427 72,256 72,370
Weighted average number of diluted common shares outstanding 71,803 72,432 72,257 72,374
[1] Beginning the first quarter of 2019, B&O taxes are reported separately from other taxes, licenses and fees, which are now reported under “other noninterest expense.” Prior periods have been reclassified to conform to current period presentation.