XML 50 R4.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest income:    
Interest and fees on loans $ 72,536 $ 71,789
Interest and dividends on investment securities:    
Taxable interest income 9,508 10,184
Non-taxable interest income 1,151 1,076
Other interest income 1,238 1,232
Total interest income 84,433 84,281
Interest expense:    
Deposits 12,227 12,500
Federal funds purchased and securities sold under agreements to repurchase 408 583
Short-term borrowings 67 191
Long-term debt 423 579
Senior notes 400 400
Subordinated notes 731 731
Junior subordinated debt owed to unconsolidated trusts 744 914
Total interest expense 15,000 15,898
Net interest income 69,433 68,383
Provision for loan losses 17,216 2,111
Net interest income after provision for loan losses 52,217 66,272
Non-interest income:    
Mortgage revenue 1,381 1,945
Income on bank owned life insurance 1,057 978
Net gains on sales of securities 1,574 (174)
Unrealized (losses) gains recognized on equity securities (987) 216
Other income 823 2,074
Total non-interest income 27,517 25,945
Non-interest expense:    
Salaries, wages and employee benefits 34,003 32,341
Data processing 4,395 4,401
Net occupancy expense of premises 4,715 4,202
Furniture and equipment expenses 2,449 2,095
Professional fees 1,824 3,187
Amortization of intangible assets 2,557 2,094
Other expense 10,571 8,843
Total non-interest expense 60,514 57,163
Income before income taxes 19,220 35,054
Income taxes 3,856 9,585
Net income $ 15,364 $ 25,469
Basic earnings per common share (in dollars per share) $ 0.28 $ 0.48
Diluted earnings per common share (in dollars per share) 0.28 0.48
Dividends declared per share of common stock (in dollars per share) $ 0.22 $ 0.21
Wealth management fees    
Non-interest income:    
Non-interest income $ 11,555 $ 9,029
Fees for customer services    
Non-interest income:    
Non-interest income 8,361 8,097
Remittance processing    
Non-interest income:    
Non-interest income $ 3,753 $ 3,780