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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest income:    
Real estate secured loans $ 63,835 $ 62,016
Commercial loans 22,821 26,143
Consumer loans 3,139 3,492
Available for sale debt securities, equity securities and Federal Home Loan Bank stock 7,951 5,612
Held to maturity debt securities 2,596 2,784
Deposits, Federal funds sold and other short-term investments 647 484
Total interest income 100,989 100,531
Interest expense:    
Deposits 5,187 7,417
Borrowed funds 1,168 2,809
Subordinated debt 108 305
Total interest expense 6,463 10,531
Net interest income 94,526 90,000
Provision benefit for credit losses (6,405) (15,001)
Net interest income after provision for credit losses 100,931 105,001
Non-interest income:    
Fees 6,889 7,192
Wealth management income 7,466 7,134
Insurance agency income 3,420 2,727
Bank-owned life insurance 1,179 2,567
Net gains on securities transactions 16 197
Other income 1,178 1,820
Total non-interest income 20,148 21,637
Non-interest expense:    
Compensation and employee benefits 37,067 35,312
Net occupancy expense 9,330 9,301
Data processing expense 5,344 4,393
FDIC insurance 1,205 1,770
Amortization of intangibles 859 972
Advertising and promotion expense 1,104 877
Credit loss benefit for off-balance sheet credit exposures (2,390) (875)
Other operating expenses 9,367 10,103
Total non-interest expense 61,886 61,853
Income before income tax expense 59,193 64,785
Income tax expense 15,231 16,226
Net income $ 43,962 $ 48,559
Basic earnings per share (usd per share) $ 0.58 $ 0.63
Weighted average basic shares outstanding (in shares) 75,817,971 76,516,543
Diluted earnings per share (usd per share) $ 0.58 $ 0.63
Weighted average diluted shares outstanding (in shares) 75,914,079 76,580,862