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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 $ 158,804 $ 186,001 $ 493,256 $ 558,055
Investment securities:        
Taxable 13,150 15,565 44,615 46,935
Tax-exempt 5,449 3,673 15,481 10,222
Loans held for sale 728 466 1,557 1,056
Other interest income 1,028 2,709 4,324 6,879
Total Interest Income 179,159 208,414 559,233 623,147
INTEREST EXPENSE        
Deposits 14,631 35,737 58,189 97,974
Short-term borrowings 370 4,156 4,960 12,200
Long-term borrowings 10,042 7,260 28,468 23,854
Total Interest Expense 25,043 47,153 91,617 134,028
Net Interest Income 154,116 161,260 467,616 489,119
Provision for credit losses 7,080 2,170 70,680 12,295
Net Interest Income After Provision for Credit Losses 147,036 159,090 396,936 476,824
NON-INTEREST INCOME        
Non-interest income before investment securities gains 63,246 55,321 170,761 156,147
Investment securities gains, net 2 4,492 3,053 4,733
Total Non-Interest Income 63,248 59,813 173,814 160,879
NON-INTEREST EXPENSE        
Salaries and employee benefits 79,227 78,211 240,467 234,959
Net occupancy 13,221 12,368 39,851 39,746
Data processing and software 12,285 11,590 36,123 33,211
Other outside services 7,617 12,163 23,098 31,774
Professional fees 2,879 3,331 10,412 10,261
Equipment 3,711 3,459 10,322 10,100
State taxes 2,692 2,523 8,583 7,005
FDIC insurance 1,578 239 6,519 5,603
Marketing 1,147 3,322 4,029 8,345
Amortization of TCI 1,694 1,533 4,594 4,516
Intangible amortization 132 1,071 397 1,285
Prepayment penalty on FHLB advances 0 4,326 2,878 4,326
Other 12,962 12,634 37,431 37,631
Total Non-Interest Expense 139,147 146,770 424,705 428,762
Income Before Income Taxes 71,137 72,133 146,045 208,941
Income taxes 9,529 10,025 18,832 30,391
Net Income $ 61,607 $ 62,108 $ 127,213 $ 178,550
PER SHARE:        
Net Income (Basic) (in dollars per share) $ 0.38 $ 0.38 $ 0.78 $ 1.06
Net Income (Diluted) (in dollars per share) 0.38 0.37 0.78 1.06
Cash Dividends (in dollars per share) $ 0.13 $ 0.13 $ 0.39 $ 0.39
Investment management and trust services        
NON-INTEREST INCOME        
Non-interest income before investment securities gains $ 14,943 $ 13,867 $ 43,405 $ 41,259
Other service charges and fees        
NON-INTEREST INCOME        
Non-interest income before investment securities gains 18,311 18,788 53,477 53,055
Service charges on deposit accounts        
NON-INTEREST INCOME        
Non-interest income before investment securities gains 10,423 13,333 30,800 37,077
Mortgage banking income        
NON-INTEREST INCOME        
Non-interest income before investment securities gains 16,801 6,658 32,998 18,023
Other        
NON-INTEREST INCOME        
Non-interest income before investment securities gains $ 2,769 $ 2,675 $ 10,080 $ 6,733