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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest income:      
Loans $ 158,450 $ 170,288 $ 158,691
Taxable investment securities 4,172 167 417
Tax-exempt investment securities 33,416 16,856 24,960
MBS 34,319 50,486 41,584
FHLB stock and equity investments 1,233 1,654 1,595
Other interest earning assets 238 1,336 1,918
Total interest income 231,828 240,787 229,165
Interest expense:      
Deposits 24,648 44,565 35,864
FHLB borrowings 11,397 17,719 12,813
Subordinated notes 6,301 5,661 5,659
Trust preferred subordinated debentures 1,829 2,775 2,610
Other borrowings 388 262 155
Total interest expense 44,563 70,982 57,101
Net interest income 187,265 169,805 172,064
Provision for credit losses 20,201 5,101 8,437
Net interest income after provision for credit losses 167,064 164,704 163,627
Noninterest income:      
Deposit services 24,359 26,038 25,082
Net gain (loss) on sale of securities available for sale 8,257 756 (1,839)
Gain on sale of loans 2,772 509 692
Trust fees 5,133 6,269 6,832
BOLI 2,554 2,307 2,923
Brokerage services 2,271 2,080 1,987
Other 4,386 4,409 5,096
Total noninterest income 49,732 42,368 40,773
Noninterest expense:      
Salaries and employee benefits 77,225 73,731 70,643
Net occupancy 14,369 13,128 13,814
Acquisition expense 0 0 2,413
Advertising, travel & entertainment 2,147 2,964 2,894
ATM expense 1,018 894 1,090
Professional fees 4,224 4,717 4,035
Software and data processing 4,957 4,537 3,996
Communications 1,984 1,941 1,847
FDIC insurance 1,124 859 1,871
Amortization of intangibles 3,617 4,418 5,213
Other 12,642 12,108 12,283
Total noninterest expense 123,307 119,297 120,099
Income before income tax expense 93,489 87,775 84,301
Income tax expense 11,336 13,221 10,163
Net income $ 82,153 $ 74,554 $ 74,138
Earnings per common share - basic (in dollars per share) $ 2.47 $ 2.21 $ 2.12
Earnings per common share - diluted (in dollars per share) 2.47 2.20 2.11
Cash dividends paid per common share $ 1.30 $ 1.26 $ 1.20