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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income        
Loans, including fees $ 126,786 $ 123,397 $ 376,207 $ 320,607
Investment securities        
Taxable 22,180 21,801 70,031 56,315
Tax-exempt 4,457 3,807 13,051 9,532
Total interest on investment securities 26,637 25,608 83,082 65,847
Other earning assets 222 215 638 499
Total interest income 153,645 149,220 459,927 386,953
Interest expense        
Deposits 20,151 14,672 60,006 39,764
Short-term borrowings 7,199 6,052 19,805 12,847
Long-term borrowings 4,760 5,011 14,764 11,066
Total interest expense 32,110 25,735 94,575 63,677
Net interest income 121,535 123,485 365,352 323,276
Provision for Loan and Lease Losses 5,228 3,238 25,969 9,276
Net interest income after provision for loan and lease losses 116,307 120,247 339,383 314,000
Noninterest income        
Service Charges on Deposit Accounts 9,874 10,316 28,596 24,923
Trust and wealth management fees 3,718 3,728 11,731 11,379
Bankcard income 3,316 5,261 15,399 13,998
Client derivative fees 4,859 3,029 11,468 6,249
Foreign exchange income 1,708 0 1,725 0
Net gain from sales of loans 4,806 1,739 10,128 4,643
Net gain (loss) on sales/transfers of investment securities 105 (167) (110) (197)
Other 4,754 4,778 15,668 12,883
Total noninterest income 33,140 28,684 94,605 73,878
Noninterest expenses        
Salaries and employee benefits 53,212 50,852 155,109 137,485
Net occupancy 5,509 6,765 17,735 17,893
Furniture and equipment 4,120 4,072 11,758 11,410
Data processing 5,774 4,502 15,885 22,478
Marketing 1,346 2,502 4,928 5,947
Communication 910 785 2,385 2,362
Professional services 4,771 2,621 9,062 10,478
State intangible tax 1,445 1,223 4,062 3,066
FDIC assessments (1,097) 734 918 2,951
Intangible assets amortization 2,432 2,486 6,521 5,130
Other 7,804 8,873 20,740 21,258
Total noninterest expenses 86,226 85,415 249,103 240,458
Income before income taxes 63,221 63,516 184,885 147,420
Income tax expense 12,365 12,859 35,487 29,839
Net income $ 50,856 $ 50,657 $ 149,398 $ 117,581
Earnings per common share        
Basic $ 0.52 $ 0.52 $ 1.52 $ 1.37
Diluted 0.51 0.51 1.51 1.36
Cash dividends declared per share $ 0.23 $ 0.20 $ 0.67 $ 0.58
Average common shares outstanding - basic 98,517,025 97,411,201 98,177,802 85,602,116
Average common shares outstanding - diluted 99,077,723 98,484,228 98,723,173 86,639,927