XML 14 R3.htm IDEA: XBRL DOCUMENT v3.21.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest income:    
Loans and leases $ 57,864 $ 61,526
Investment securities, taxable 3,988 5,550
Investment securities, tax-exempt 174 264
Other 266 346
Total interest income 62,292 67,686
Interest expense:    
Deposits 3,526 10,851
Short-term borrowings 36 254
Subordinated notes 818 884
Long-term debt and mandatorily redeemable securities 500 853
Total interest expense 4,880 12,842
Net interest income 57,412 54,844
Provision for credit losses* 2,398 11,353 [1]
Net interest income after provision for loan and lease losses 55,014 43,491
Noninterest income:    
Mortgage banking 3,901 2,336
Insurance commissions 2,152 1,881
Equipment rental 4,629 6,630
Gains on investment securities available-for-sale 0 280
Other 3,077 2,669
Total noninterest income 25,869 24,622
Noninterest expense:    
Salaries and employee benefits 25,196 24,401
Net occupancy 2,719 2,721
Furniture and equipment 6,458 6,407
Professional fees 1,613 1,442
Supplies and communication 1,475 1,634
FDIC and other insurance 665 288
Business development and marketing 997 1,359
Loan and lease collection and repossession 129 763
Other 1,115 2,093
Total noninterest expense 44,140 46,535
Income before income taxes 36,743 21,578
Income tax expense 8,637 5,160
Net income 28,106 16,418
Net (income) loss attributable to noncontrolling interests (1) (5)
Net income available to common shareholders $ 28,105 $ 16,413
Per common share:    
Basic net income per common share (in dollars per share) $ 1.10 $ 0.64
Diluted net income per common share (in dollars per share) 1.10 0.64
Cash dividends (in dollars per share) $ 0.29 $ 0.29
Basic weighted average common shares outstanding (in shares) 25,320,930 25,523,356
Diluted weighted average common shares outstanding (in shares) 25,320,930 25,523,356
Trust and wealth advisory    
Noninterest income:    
Trust and wealth advisory, service charges on deposit accounts, and debit card income $ 5,481 $ 4,848
Service charges on deposit accounts    
Noninterest income:    
Trust and wealth advisory, service charges on deposit accounts, and debit card income 2,447 2,605
Debit card    
Noninterest income:    
Trust and wealth advisory, service charges on deposit accounts, and debit card income 4,182 3,373
Leased equipment    
Noninterest expense:    
Depreciation - leased equipment $ 3,773 $ 5,427
[1] *ASU 2016-13 adopted during the fourth quarter of 2020 therefore March 31, 2020 provision amount reflects the incurred loss method.