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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest and dividend income        
Loans and leases, including fees $ 296,790 $ 283,125 $ 878,355 $ 791,670
Mortgage loans held for sale, including fees 1,936 1,037 4,578 3,027
Taxable securities 27,883 27,113 93,461 79,058
Tax-exempt securities 2,049 2,680 6,399 8,154
Other 4,520 3,112 12,436 9,524
Total interest and dividend income 333,178 317,067 995,229 891,433
Interest expense        
Deposits 70,753 44,401 196,854 108,804
Short-term borrowings 3,880 4,727 14,793 10,578
Long-term debt 9,212 8,714 28,426 23,824
Total interest expense 83,845 57,842 240,073 143,206
Net interest income 249,333 259,225 755,156 748,227
Provision for credit losses 8,986 11,384 33,504 27,290
Net interest income after provision for credit losses 240,347 247,841 721,652 720,937
Non-interest income        
Income from bank owned life insurance 1,760 1,744 5,307 4,287
Securities gains (losses), net 27 0 (987) (56)
Other non-interest income 7,114 3,583 15,415 10,971
Total non-interest income 63,674 53,087 175,008 151,593
Non-interest expense        
Salaries and employee benefits 103,257 101,159 304,928 313,190
Net occupancy and equipment 21,316 18,889 58,879 58,867
Communication and delivery 3,634 3,773 10,931 11,888
Marketing and business development 3,163 4,068 10,651 13,715
Computer services expense 9,638 9,036 28,178 30,738
Professional services 6,323 5,519 17,017 20,070
Credit and other loan related expense 4,532 4,830 11,532 14,313
Insurance 4,825 6,536 13,276 20,587
Travel and entertainment 2,185 1,846 7,353 7,880
Amortization of acquisition intangibles 4,410 5,382 14,205 16,595
Impairment of long-lived assets and other (gains) losses (309) 467 1,251 24,924
Other non-interest expense 9,688 7,557 22,832 21,143
Total non-interest expense 172,662 169,062 501,033 553,910
Income before income tax expense 131,359 131,866 395,627 318,620
Income tax expense 31,509 30,401 94,048 78,410
Net income 99,850 101,465 301,579 240,210
Less: Preferred stock dividends 3,599 3,599 8,146 8,146
Net income available to common shareholders 96,251 97,866 293,433 232,064
Less: Earnings allocated to unvested restricted stock 874 908 2,806 2,341
Earnings allocated to common shareholders $ 95,377 $ 96,958 $ 290,627 $ 229,723
Earnings per common share - Basic (in usd per share) $ 1.83 $ 1.74 $ 5.47 $ 4.17
Earnings per common share - Diluted (in usd per share) 1.82 1.73 5.43 4.14
Cash dividends declared per common share (in usd per share) $ 0.45 $ 0.39 $ 1.31 $ 1.15
Comprehensive income        
Net income $ 99,850 $ 101,465 $ 301,579 $ 240,210
Unrealized gains (losses) on securities:        
Unrealized holding gains (losses) arising during the period (net of tax effects of $2,294, $5,906, $27,805, and $24,578, respectively) 6,975 (22,220) 93,491 (92,460)
Less: Reclassification adjustment for gains (losses) included in net income (net of tax effects of $7, $0, $244, and $12, respectively) 20 0 (743) (44)
Unrealized gains (losses) on securities, net of tax 6,955 (22,220) 94,234 (92,416)
Fair value of derivative instruments designated as cash flow hedges:        
Change in fair value of derivative instruments designated as cash flow hedges during the period (net of tax effects of $86, $217, $903, and $1,266, respectively) (264) 818 1,992 4,762
Less: Reclassification adjustment for gains (losses) included in net income (net of tax effects of $53, $6, $154, and $47, respectively) (162) (22) (467) (178)
Fair value of derivative instruments designated as cash flow hedges, net of tax (102) 840 2,459 4,940
Other comprehensive income (loss), net of tax 6,853 (21,380) 96,693 (87,476)
Comprehensive income 106,703 80,085 398,272 152,734
Mortgage income        
Non-interest income        
Non-interest income 17,432 12,729 47,725 36,045
Service charges on deposit accounts        
Non-interest income        
Non-interest income 13,209 13,520 38,866 39,378
Title revenue        
Non-interest income        
Non-interest income 7,170 6,280 19,290 18,153
Broker commissions        
Non-interest income        
Non-interest income 1,800 2,627 5,797 7,244
ATM and debit card fee income        
Non-interest income        
Non-interest income 2,948 2,470 8,562 8,028
Credit card and merchant-related income        
Non-interest income        
Non-interest income 3,400 3,114 10,037 9,347
Trust department income        
Non-interest income        
Non-interest income 4,281 3,993 12,836 11,662
Commission income        
Non-interest income        
Non-interest income $ 4,533 $ 3,027 $ 12,160 $ 6,534