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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Interest and fees on loans $ 71,089 $ 78,031 $ 143,625 $ 149,820
Interest and dividends on investment securities:        
Taxable interest income 8,833 11,152 18,341 21,336
Non-taxable interest income 1,166 1,200 2,317 2,276
Other interest income 145 1,083 1,383 2,315
Total interest income 81,233 91,466 165,666 175,747
Interest expense:        
Deposits 7,721 14,154 19,948 26,654
Federal funds purchased and securities sold under agreements to repurchase 100 627 508 1,210
Short-term borrowings 118 494 185 685
Long-term debt 34 741 457 1,320
Senior notes 399 399 799 799
Subordinated notes 1,312 731 2,043 1,462
Junior subordinated debt owed to unconsolidated trusts 736 892 1,480 1,806
Total interest expense 10,420 18,038 25,420 33,936
Net interest income 70,813 73,428 140,246 141,811
Provision for credit losses 12,891 2,517 30,107 4,628
Net interest income after provision for credit losses 57,922 70,911 110,139 137,183
Non-interest income:        
Mortgage revenue 2,705 2,851 4,086 4,796
Income on bank owned life insurance 2,282 2,102 3,339 3,080
Net gains (losses) on sales of securities 125 (10) 1,699 (184)
Unrealized gains (losses) recognized on equity securities 190 (1,016) (797) (800)
Other income 1,726 1,068 2,549 3,142
Total non-interest income 27,964 27,896 55,481 53,841
Non-interest expense:        
Salaries, wages and employee benefits 28,555 34,268 62,558 66,609
Data processing 4,051 5,616 8,446 10,017
Net occupancy expense of premises 4,448 4,511 9,163 8,713
Furniture and equipment expenses 2,537 2,352 4,986 4,447
Professional fees 1,986 3,192 3,810 6,379
Amortization of intangible assets 2,519 2,412 5,076 4,506
Other expense 8,972 15,669 19,543 24,512
Total non-interest expense 53,068 68,020 113,582 125,183
Income before income taxes 32,818 30,787 52,038 65,841
Income taxes 7,012 6,702 10,868 16,287
Net income $ 25,806 $ 24,085 $ 41,170 $ 49,554
Basic earnings per common share (in dollars per share) $ 0.47 $ 0.43 $ 0.75 $ 0.91
Diluted earnings per common share (in dollars per share) 0.47 0.43 0.75 0.90
Dividends declared per share of common stock (in dollars per share) $ 0.22 $ 0.21 $ 0.44 $ 0.42
Wealth management fees        
Non-interest income:        
Non-interest income $ 10,193 $ 9,488 $ 21,748 $ 18,517
Fees for customer services        
Non-interest income:        
Non-interest income 7,025 9,696 15,386 17,793
Remittance processing        
Non-interest income:        
Non-interest income $ 3,718 $ 3,717 $ 7,471 $ 7,497