XML 14 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Comprehensive 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        
Loans, including fees $ 105,968 $ 115,068 $ 215,327 $ 234,571
Interest and dividends on securities:        
Taxable 12,900 14,047 24,027 31,034
Tax-exempt 3,952 4,302 7,862 8,758
Total interest and dividends on securities 16,852 18,349 31,889 39,792
Other interest income 507 1,277 1,166 2,779
Total interest and dividend income 123,327 134,694 248,382 277,142
INTEREST EXPENSE        
Interest bearing demand deposits 1,009 1,350 2,052 4,745
Money market deposits 551 879 1,130 3,231
Savings deposits 261 297 525 1,220
Certificates of deposit 2,026 3,514 4,396 7,568
Total interest expense on deposits 3,847 6,040 8,103 16,764
Federal Home Loan Bank borrowings 1,781 7,293 4,195 15,525
Other short-term borrowings 40 279 159 1,149
Subordinated debt and junior subordinated debt 1,804 2,069 3,593 4,530
Total interest expense 7,472 15,681 16,050 37,968
NET INTEREST INCOME 115,855 119,013 232,332 239,174
Provision for credit losses (21,025) 61,841 (48,984) 91,661
Net interest income after provision for credit losses 136,880 57,172 281,316 147,513
NON-INTEREST INCOME        
Electronic banking fees 5,060 4,066 9,426 8,320
Net securities brokerage revenue 1,829 1,384 3,352 3,063
Bank-owned life insurance 1,707 1,752 3,416 3,521
Mortgage banking income 7,830 7,531 12,094 8,807
Net securities gains 477 1,299 756 2,790
Net gain (loss) on other real estate owned and other assets 4,014 (66) 4,189 103
Other income 3,171 6,369 11,537 10,171
Total non-interest income 36,112 32,860 69,320 60,869
NON-INTEREST EXPENSE        
Salaries and wages 37,435 36,773 74,324 75,683
Employee benefits 9,268 10,138 19,534 20,511
Net occupancy 6,427 6,634 13,605 13,717
Equipment and software 7,281 5,722 14,045 11,761
Marketing 1,802 1,567 4,185 2,705
FDIC insurance 181 2,395 1,462 4,508
Amortization of intangible assets 2,873 3,365 5,769 6,739
Restructuring and merger-related expense 1,222 468 2,074 5,633
Other operating expenses 17,323 18,440 35,141 35,578
Total non-interest expense 83,812 85,502 170,139 176,835
Income before provision for income taxes 89,180 4,530 180,497 31,547
Provision for income taxes 18,592 42 36,793 3,663
Net income 70,588 4,488 143,704 27,884
Preferred stock dividends 2,531   5,063  
Net income available to common shareholders $ 68,057 $ 4,488 $ 138,641 $ 27,884
EARNINGS PER COMMON SHARE        
Basic $ 1.02 $ 0.07 $ 2.07 $ 0.41
Diluted $ 1.01 $ 0.07 $ 2.06 $ 0.41
AVERAGE COMMON SHARES OUTSTANDING        
Basic 66,894,398 67,104,628 67,078,036 67,295,589
Diluted 67,066,592 67,181,755 67,239,548 67,410,460
DIVIDENDS DECLARED PER COMMON SHARE $ 0.33 $ 0.32 $ 0.66 $ 0.64
COMPREHENSIVE INCOME $ 73,371 $ 3,863 $ 124,931 $ 67,199
Total Trust Fees [Member]        
NON-INTEREST INCOME        
NON-INTEREST INCOME 7,148 6,202 14,780 13,154
Service Charges on Deposits [Member]        
NON-INTEREST INCOME        
NON-INTEREST INCOME $ 4,876 $ 4,323 $ 9,770 $ 10,940