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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest and dividend income    
Loans and leases, including fees $ 271,746 $ 284,879
Mortgage loans held for sale, including fees 1,678 1,054
Taxable securities 23,481 33,916
Tax-exempt securities 1,921 2,209
Other 4,103 4,026
Total interest and dividend income 302,929 326,084
Interest expense    
Deposits 63,676 60,235
Short-term borrowings 266 5,716
Long-term debt 8,645 9,649
Total interest expense 72,587 75,600
Net interest income 230,342 250,484
Provision for expected credit losses 68,971 13,763
Net interest income after provision for expected credit losses 161,371 236,721
Non-interest income    
Income from bank owned life insurance 1,822 1,797
Other non-interest income 4,451 4,051
Total non-interest income 64,656 52,509
Non-interest expense    
Salaries and employee benefits 102,545 98,296
Net occupancy and equipment 19,984 18,564
Communication and delivery 3,677 3,700
Marketing and business development 3,710 4,118
Computer services expense 10,167 9,157
Professional services 5,322 4,450
Credit and other loan-related expense 3,643 2,859
Insurance 4,559 4,186
Travel and entertainment 2,740 2,430
Amortization of acquisition intangibles 4,187 5,009
Impairment of long-lived assets and other losses 3,317 1,064
Other non-interest expense 13,576 4,920
Total non-interest expense 177,427 158,753
Income before income tax expense 48,600 130,477
Income tax expense 12,175 30,346
Net income 36,425 100,131
Less: Preferred stock dividends 3,598 3,598
Net income available to common shareholders 32,827 96,533
Less: Earnings allocated to unvested restricted stock 367 933
Earnings allocated to common shareholders $ 32,460 $ 95,600
Earnings per common share - Basic (in usd per share) $ 0.62 $ 1.76
Earnings per common share - Diluted (in usd per share) 0.62 1.75
Cash dividends declared per common share (in usd per share) $ 0.47 $ 0.43
Comprehensive income    
Net income $ 36,425 $ 100,131
Unrealized gains on securities:    
Unrealized holding gains arising during the period (net of tax effects of $17,342 and $10,675, respectively) 56,424 41,408
Unrealized gains on securities, net of tax 56,424 41,408
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 $3,209 and $471, respectively) 10,441 (2,185)
Less: Reclassification adjustment for gains (losses) included in net income (net of tax effects of $136 and $75, respectively) 442 (227)
Fair value of derivative instruments designated as cash flow hedges, net of tax 9,999 (1,958)
Other comprehensive income (loss), net of tax 66,423 39,450
Comprehensive income 102,848 139,581
Mortgage income    
Non-interest income    
Non-interest income 23,245 11,849
Service charges on deposit accounts    
Non-interest income    
Non-interest income 12,525 12,810
Title revenue    
Non-interest income    
Non-interest income 5,936 5,225
Commission income    
Non-interest income    
Non-interest income 4,191 4,664
Broker commissions    
Non-interest income    
Non-interest income 2,127 1,953
ATM and debit card fee income    
Non-interest income    
Non-interest income 2,838 2,582
Credit card and merchant-related income    
Non-interest income    
Non-interest income 3,295 3,411
Trust department income    
Non-interest income    
Non-interest income $ 4,226 $ 4,167