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Business Segments (Tables)
3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Financial Information by Business Segment

Condensed financial information by business segment is presented below:

 

 

 

 

 

 

 

Trust and

 

 

 

 

 

 

 

Community

 

 

Investment

 

 

 

 

 

(unaudited, in thousands)

 

Banking

 

 

Services

 

 

Consolidated

 

For The Three Months Ended March 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Interest and dividend income

 

$

125,054

 

 

$

—

 

 

$

125,054

 

Interest expense

 

 

8,576

 

 

 

—

 

 

 

8,576

 

Net interest income

 

 

116,478

 

 

 

—

 

 

 

116,478

 

Provision for credit losses

 

 

(27,958

)

 

 

—

 

 

 

(27,958

)

Net interest income after provision for credit losses

 

 

144,436

 

 

 

—

 

 

 

144,436

 

Non-interest income

 

 

25,577

 

 

 

7,631

 

 

 

33,208

 

Non-interest expense

 

 

82,011

 

 

 

4,316

 

 

 

86,327

 

Income before provision for income taxes

 

 

88,002

 

 

 

3,315

 

 

 

91,317

 

Provision for income taxes

 

 

17,506

 

 

 

696

 

 

 

18,202

 

Net income

 

 

70,496

 

 

 

2,619

 

 

 

73,115

 

Preferred stock dividends

 

 

2,531

 

 

 

—

 

 

 

2,531

 

Net income available to common shareholders

 

$

67,965

 

 

$

2,619

 

 

$

70,584

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For The Three Months Ended March 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

Interest and dividend income

 

$

142,448

 

 

$

—

 

 

$

142,448

 

Interest expense

 

 

22,286

 

 

 

—

 

 

 

22,286

 

Net interest income

 

 

120,162

 

 

—

 

 

 

120,162

 

Provision for credit losses

 

 

29,821

 

 

 

—

 

 

 

29,821

 

Net interest income after provision for credit losses

 

 

90,341

 

 

 

—

 

 

 

90,341

 

Non-interest income

 

 

21,057

 

 

 

6,952

 

 

 

28,009

 

Non-interest expense

 

 

86,918

 

 

 

4,415

 

 

 

91,333

 

Income before provision for income taxes

 

 

24,480

 

 

 

2,537

 

 

 

27,017

 

Provision for income taxes

 

 

3,088

 

 

 

533

 

 

 

3,621

 

Net income available to common shareholders

 

$

21,392

 

 

$

2,004

 

 

$

23,396