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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest Income        
Loans $ 105,496 $ 116,585 $ 212,862 $ 225,001
Taxable securities 18,343 15,918 39,431 33,333
Tax-exempt securities 2,257 2,712 4,559 5,681
Deposits in banks 136 207 277 295
Total interest income 126,232 135,422 257,129 264,310
Interest Expense        
Deposits 2,094 4,976 5,736 9,474
FHLB advances and FRB borrowings 1,796 4,708 6,025 7,393
Subordinated debentures 468 468 936 936
Other borrowings 23 154 159 369
Total interest expense 4,381 10,306 12,856 18,172
Net Interest Income 121,851 125,116 244,273 246,138
Provision for credit losses 33,500 218 75,000 1,580
Net interest income after provision for credit losses 88,351 124,898 169,273 244,558
Noninterest Income        
Deposit account and treasury management fees 6,092 9,035 13,880 18,015
Card revenue 3,079 3,763 6,597 7,425
Financial services and trust revenue 3,163 3,425 6,228 6,382
Loan revenue 5,607 3,596 10,197 5,985
Bank owned life insurance 1,618 1,597 3,214 3,116
Investment securities gains, net 16,425 285 16,674 2,132
Other 1,275 3,947 1,676 4,289
Total noninterest income 37,259 25,648 58,466 47,344
Noninterest Expense        
Compensation and employee benefits 46,043 52,015 100,885 104,100
Occupancy 8,812 8,712 18,009 17,521
Data processing 5,454 4,601 10,294 9,270
Legal and professional fees 3,483 6,554 5,585 11,127
Amortization of intangibles 2,210 2,649 4,520 5,397
B&O taxes 1,244 1,411 1,868 3,287
Advertising and promotion 837 870 2,142 1,844
Regulatory premiums 1,034 956 1,068 1,940
Net benefit of operation of OREO (200) (705) (188) (592)
Other 11,916 9,665 20,921 17,534
Total noninterest expense 80,833 86,728 165,104 171,428
Income before income taxes 44,777 63,818 62,635 120,474
Income tax provision 8,195 12,094 11,425 22,879
Net Income $ 36,582 $ 51,724 $ 51,210 $ 97,595
Earnings per common share        
Basic $ 0.52 $ 0.71 $ 0.72 $ 1.33
Diluted $ 0.52 $ 0.71 $ 0.72 $ 1.33
Weighted average number of common shares outstanding 70,679 72,451 70,942 72,486
Weighted average number of diluted common shares outstanding 70,711 72,451 70,981 72,487