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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income:        
Loans, including fees $ 169,002 $ 186,870 $ 512,444 $ 561,990
Securities:        
Taxable 22,560 32,122 71,950 87,125
Tax-exempt 58,073 57,328 175,968 175,067
Interest-bearing deposits 1,512 8,759 10,894 27,226
Federal funds sold and resell agreements 19 1,194 884 4,323
Total interest income 251,166 286,273 772,140 855,731
Interest expense:        
Deposits 5,397 25,637 27,677 79,655
Federal funds purchased and repurchase agreements 482 5,040 4,005 15,276
Junior subordinated deferrable interest debentures 700 1,425 2,893 4,401
Subordinated notes 1,164 1,164 3,492 3,492
Federal Home Loan Bank advances 0 0 318 0
Total interest expense 7,743 33,266 38,385 102,824
Net interest income 243,423 253,007 733,755 752,907
Credit loss expense 20,302 8,001 227,474 25,404
Net interest income after credit loss expense 223,121 245,006 506,281 727,503
Non-interest income:        
Trust and investment management fees 31,469 31,649 97,002 93,794
Service charges on deposit accounts 19,812 22,941 60,043 65,529
Insurance commissions and fees 11,456 11,683 38,609 40,207
Interchange and debit card transaction fees 3,503 4,117 9,724 11,265
Other charges, commissions and fees 8,370 10,108 25,398 28,103
Net gain (loss) on securities transactions 0 96 108,989 265
Other 8,991 8,630 34,352 29,484
Total non-interest income 83,601 89,224 374,117 268,647
Non-interest expense:        
Salaries and wages 93,323 93,812 282,485 277,078
Employee benefits 16,074 21,002 59,824 64,579
Net occupancy 25,466 24,202 76,116 64,602
Technology, furniture and equipment 26,482 22,415 77,768 66,236
Deposit insurance 2,372 2,491 7,796 7,752
Intangible amortization 212 274 710 904
Other 38,221 44,668 121,293 132,722
Total non-interest expense 202,150 208,864 625,992 613,873
Income before income taxes 104,572 125,366 254,406 382,277
Income taxes 9,516 13,530 11,525 42,359
Net income 95,056 111,836 242,881 339,918
Preferred stock dividends 0 2,016 2,016 6,047
Redemption of preferred stock 0 0 5,514 0
Net income available to common shareholders $ 95,056 $ 109,820 $ 235,351 $ 333,871
Earnings per common share:        
Basic $ 1.50 $ 1.74 $ 3.72 $ 5.28
Diluted $ 1.50 $ 1.73 $ 3.71 $ 5.24