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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Loans, including fees $ 97,764 $ 105,564 $ 196,994 $ 208,369
Investment securities:        
Taxable 15,092 19,602 31,580 38,902
Tax-exempt 653 1,377 1,419 3,026
Other interest income 141 317 269 626
Total interest income 113,650 126,860 230,262 250,923
Interest expense:        
Savings deposits 1,161 4,249 4,396 8,492
Time deposits 5,319 5,044 11,289 9,422
Securities sold under repurchase agreements 148 591 613 1,180
Other borrowings 2,088 3,513 4,914 7,007
Junior subordinated deferrable interest debentures 1,080 1,681 2,353 3,631
Total interest expense 9,796 15,078 23,565 29,732
Net interest income 103,854 111,782 206,697 221,191
Provision for credit loss expenses 10,989 2,665 27,825 10,085
Net interest income after provision for probable loan losses 92,865 109,117 178,872 211,106
Non-interest income:        
Investment securities transactions, net   (6) (5) (10)
Other investments, net 617 (1,703) 386 2,245
Other income 6,840 4,513 11,649 7,053
Total non-interest income 33,596 34,416 68,726 70,545
Non-interest expense:        
Employee compensation and benefits 32,319 37,246 68,649 73,655
Occupancy 5,770 6,580 12,669 12,957
Depreciation of bank premises and equipment 7,190 7,032 14,299 14,013
Professional fees 3,913 3,745 7,883 7,337
Deposit insurance assessments 202 859 202 1,642
Net expense, other real estate owned 2,835 1,203 5,837 2,198
Advertising 1,892 2,081 3,876 4,163
Software and software maintenance 5,257 5,003 9,748 9,500
Other 14,530 15,864 27,726 27,099
Total non-interest expense 73,908 79,613 150,889 152,564
Income before income taxes 52,553 63,920 96,709 129,087
Provision for income taxes 11,044 13,900 20,361 27,161
Net income $ 41,509 $ 50,020 $ 76,348 $ 101,926
Basic earnings per common share:        
Weighted average number of shares outstanding (in shares) 63,295,597 65,648,090 64,183,093 65,633,117
Net income (in dollars per share) $ 0.66 $ 0.76 $ 1.19 $ 1.55
Fully diluted earnings per common share:        
Weighted average number of shares outstanding (in shares) 63,397,199 65,867,234 64,313,011 65,849,281
Net income (in dollars per share) $ 0.65 $ 0.76 $ 1.19 $ 1.55
Services charges on deposit accounts        
Non-interest income:        
Service charges $ 12,880 $ 17,610 $ 30,517 $ 34,870
Other service charges, commissions and fees, Banking        
Non-interest income:        
Service charges 11,229 11,764 22,395 22,640
Other service charges, commissions and fees, Non-banking        
Non-interest income:        
Service charges $ 2,030 $ 2,238 $ 3,784 $ 3,747