XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST INCOME        
Loans $ 140,004 $ 161,838 $ 291,030 $ 319,099
Securities:        
Taxable interest 25,870 26,700 53,082 52,091
Tax-exempt interest 24,612 21,988 49,016 42,685
Total securities income 50,482 48,688 102,098 94,776
Federal funds and resell agreements 1,573 2,526 7,025 6,151
Interest-bearing due from banks 398 2,768 3,061 6,667
Trading securities 312 842 966 1,276
Total interest income 192,769 216,662 404,180 427,969
INTEREST EXPENSE        
Deposits 11,243 39,516 40,975 77,350
Federal funds and repurchase agreements 1,950 9,347 8,331 17,611
Other 1,347 1,385 2,704 2,726
Total interest expense 14,540 50,248 52,010 97,687
Net interest income 178,229 166,414 352,170 330,282
Provision for credit losses [1] 21,500 11,000 109,500 [2] 23,350 [2]
Net interest income after provision for credit losses 156,729 155,414 242,670 306,932
NONINTEREST INCOME        
Trust and securities processing 46,321 42,903 93,321 84,860
Trading and investment banking 12,851 5,453 14,574 11,034
Service charges on deposit accounts 19,074 20,747 44,155 42,028
Insurance fees and commissions 533 465 792 803
Brokerage fees 5,753 7,077 15,613 14,320
Bankcard fees 12,916 16,439 29,461 33,506
Gains (losses) on sales of securities available for sale, net 4,006 (1,403) 5,233 (594)
Other 19,002 13,717 15,731 26,823
Total noninterest income 120,456 105,398 218,880 212,780
NONINTEREST EXPENSE        
Salaries and employee benefits 130,938 114,454 241,998 230,486
Occupancy, net 11,411 11,539 23,591 23,282
Equipment 21,502 18,824 42,743 38,508
Supplies and services 3,785 4,285 7,970 8,158
Marketing and business development 3,284 7,304 7,924 12,217
Processing fees 13,603 13,096 26,993 25,228
Legal and consulting 6,220 7,496 12,330 13,129
Bankcard 4,549 4,701 9,409 9,046
Amortization of other intangible assets 1,658 1,251 3,392 2,578
Regulatory fees 3,211 2,910 5,577 5,800
Other 8,372 7,527 15,225 15,581
Total noninterest expense 208,533 193,387 397,152 384,013
Income before income taxes 68,652 67,425 64,398 135,699
Income tax expense 8,123 10,466 7,308 20,996
NET INCOME $ 60,529 $ 56,959 $ 57,090 $ 114,703
PER SHARE DATA        
Net income – basic $ 1.26 $ 1.17 $ 1.18 $ 2.35
Net income – diluted 1.26 1.16 1.18 2.34
Dividends $ 0.31 $ 0.30 $ 0.62 $ 0.60
Weighted average shares outstanding – basic 47,991,283 48,777,732 48,340,579 48,745,124
Weighted average shares outstanding – diluted 48,077,810 49,039,692 48,491,526 49,018,787
[1] For the three and six months ended June 30, 2019, this line represents the Provision for loan losses. See further discussion of this change in Note 3, “New Accounting Pronouncements.
[2] For the six months ended June 30, 2019, this line represents the Provision for loan losses. See further discussion of this change in Note 3, “New Accounting Pronouncements.