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Unaudited 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 and dividend income:        
Interest and fees on loans $ 90,936 $ 92,143 $ 179,575 $ 187,681
Taxable interest and dividends on available for sale securities 12,457 7,600 22,663 15,778
Non-taxable interest and dividends on available for sale securities 1,857 1,905 3,713 3,826
Interest on federal funds sold and other short-term investments 431 284 863 801
Interest and dividends on trading securities 0 1 0 6
Total interest and dividend income 105,681 101,933 206,814 208,092
Interest expense:        
Interest on deposits 1,031 3,104 2,033 8,518
Interest on borrowings 42 74 82 673
Total interest expense 1,073 3,178 2,115 9,191
Net interest income 104,608 98,755 204,699 198,901
(Release of) provision for allowance for loan losses (3,300) 8,600 (3,880) 37,200
Net interest income after provision for loan losses 107,908 90,155 208,579 161,701
Noninterest income:        
Insurance commissions 23,664 22,697 51,811 50,174
Service charges on deposit accounts 5,708 4,364 11,075 10,462
Trust and investment advisory fees 6,074 5,194 11,737 10,289
Debit card processing fees 3,170 2,337 5,919 4,807
Interest rate swap (losses) income (1,164) 771 4,241 (5,238)
Income from investments held in rabbi trusts 4,216 7,745 6,062 1,002
Losses on trading securities, net 0 (1) 0 (3)
Gains on sales of mortgage loans held for sale, net 848 1,420 2,327 1,513
Gains on sales of securities available for sale, net 1 163 1,165 285
Other 3,216 2,967 6,608 7,735
Total noninterest income 45,733 47,657 100,945 81,026
Noninterest expense:        
Salaries and employee benefits 69,276 63,335 133,316 124,924
Office occupancy and equipment 8,094 8,615 16,311 17,304
Data processing 13,572 12,180 25,701 22,184
Professional services 6,439 4,396 10,587 8,085
Charitable contributions 0 2,797 0 3,984
Marketing 3,497 1,645 5,188 4,113
Loan expenses 1,854 2,036 3,701 3,148
FDIC insurance 985 944 1,933 1,850
Amortization of intangible assets 625 701 1,157 1,403
Other 2,993 4,116 3,490 8,942
Total noninterest expense 107,335 100,765 201,384 195,937
Income before income tax expense 46,306 37,047 108,140 46,790
Income tax expense 11,497 7,197 25,668 8,495
Net income $ 34,809 $ 29,850 $ 82,472 $ 38,295
Basic earnings per share (in dollars per share) $ 0.20 $ 0 $ 0.48 $ 0
Diluted earnings per share (in dollars per share) $ 0.20 $ 0 $ 0.48 $ 0