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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income:        
Loans $ 77,048 $ 88,347 $ 154,956 $ 178,291
Debt securities 5,984 6,209 11,339 12,981
Equity investments and other 309 1,321 1,920 2,812
Total interest income 83,341 95,877 168,215 194,084
Interest expense:        
Deposits 6,325 12,305 14,821 26,241
Borrowed funds 3,000 4,905 5,774 9,531
Total interest expense 9,325 17,210 20,595 35,772
Net interest income 74,016 78,667 147,620 158,312
Credit loss (benefit) expense (6,460) 9,649 (7,080) 19,618
Net interest income after credit loss (benefit) expense 80,476 69,018 154,700 138,694
Other income:        
Bankcard services revenue 3,591 2,741 6,643 5,222
Net gain on sales of loans 1,279 756 3,195 929
Net gain on equity investments 576 148 8,863 303
Net loss from other real estate operations (1) (52) (9) (202)
Income from bank owned life insurance 1,716 1,521 3,131 3,096
Commercial loan swap income 73 2,489 1,184 6,539
Other 169 19 895 44
Total other income 11,803 11,430 32,638 25,127
Operating expenses:        
Compensation and employee benefits 29,912 27,935 58,278 57,820
Occupancy 5,314 5,268 10,375 10,544
Equipment 1,306 1,982 2,884 3,925
Marketing 625 753 1,059 1,522
Federal deposit insurance and regulatory assessments 1,099 1,133 2,963 1,800
Data processing 4,402 4,149 8,433 8,326
Check card processing 1,303 1,290 2,675 2,566
Professional fees 2,391 2,683 5,228 4,985
Other operating expense 3,485 4,338 6,838 8,140
Federal Home Loan Bank prepayment fees 0 924 0 924
Amortization of core deposit intangible 1,361 1,544 2,756 3,122
Branch consolidation expense 26 863 1,037 3,457
Merger related expenses 446 3,070 827 11,597
Total operating expenses 51,670 55,932 103,353 118,728
Income before provision for income taxes 40,609 24,516 83,985 45,093
Provision for income taxes 10,054 5,878 20,733 9,922
Net income 30,555 18,638 63,252 35,171
Dividends on preferred shares 1,004 0 2,008 0
Net income available to common stockholders $ 29,551 $ 18,638 $ 61,244 $ 35,171
Basic earnings per share (in dollars per share) $ 0.49 $ 0.31 $ 1.02 $ 0.59
Diluted earnings per share (in dollars per share) $ 0.49 $ 0.31 $ 1.02 $ 0.58
Average basic shares outstanding (in shares) 59,701 59,877 59,776 59,881
Average diluted shares outstanding (in shares) 59,966 59,999 60,040 60,122
Trust and asset management revenue        
Other income:        
Other income $ 591 $ 555 $ 1,190 $ 1,070
Fees and service charges        
Other income:        
Other income $ 3,809 $ 3,253 $ 7,546 $ 8,126