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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
INTEREST INCOME        
Loans $ 154,537 $ 140,004 $ 304,707 $ 291,030
Securities:        
Taxable interest 29,780 25,870 56,942 53,082
Tax-exempt interest 24,743 24,612 49,707 49,016
Total securities income 54,523 50,482 106,649 102,098
Federal funds and resell agreements 2,552 1,573 5,373 7,025
Interest-bearing due from banks 833 398 1,536 3,061
Trading securities 189 312 348 966
Total interest income 212,634 192,769 418,613 404,180
INTEREST EXPENSE        
Deposits 6,574 11,243 13,372 40,975
Federal funds and repurchase agreements 1,779 1,950 3,665 8,331
Other 3,210 1,347 6,390 2,704
Total interest expense 11,563 14,540 23,427 52,010
Net interest income 201,071 178,229 395,186 352,170
Provision for credit losses 24,000 21,500 16,500 109,500
Net interest income after provision for credit losses 177,071 156,729 378,686 242,670
NONINTEREST INCOME        
Trust and securities processing 53,863 46,321 108,697 93,321
Trading and investment banking 8,670 12,851 18,026 14,574
Service charges on deposit accounts 22,592 19,074 44,568 44,155
Insurance fees and commissions 245 533 665 792
Brokerage fees 2,592 5,753 5,926 15,613
Bankcard fees 16,063 12,916 30,736 29,461
Investment securities gains, net 15,455 4,579 7,119 8,099
Other 12,109 18,429 24,749 12,865
Total noninterest income 131,589 120,456 240,486 218,880
NONINTEREST EXPENSE        
Salaries and employee benefits 120,415 130,938 248,096 241,998
Occupancy, net 12,296 11,411 24,231 23,591
Equipment 19,196 21,502 38,811 42,743
Supplies and services 3,469 3,785 6,961 7,970
Marketing and business development 4,797 3,284 7,142 7,924
Processing fees 16,501 13,603 31,918 26,993
Legal and consulting 8,147 6,220 13,902 12,330
Bankcard 4,529 4,549 9,485 9,409
Amortization of other intangible assets 1,157 1,658 2,537 3,392
Regulatory fees 2,769 3,211 5,315 5,577
Other 8,062 8,372 13,886 15,225
Total noninterest expense 201,338 208,533 402,284 397,152
Income before income taxes 107,322 68,652 216,888 64,398
Income tax expense 19,910 8,123 36,833 7,308
NET INCOME $ 87,412 $ 60,529 $ 180,055 $ 57,090
PER SHARE DATA        
Net income – basic $ 1.81 $ 1.26 $ 3.74 $ 1.18
Net income – diluted 1.79 1.26 3.70 1.18
Dividends $ 0.32 $ 0.31 $ 0.64 $ 0.62
Weighted average shares outstanding – basic 48,294,952 47,991,283 48,196,345 48,340,579
Weighted average shares outstanding – diluted 48,698,319 48,077,810 48,604,140 48,491,526