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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income        
Loans, including fees $ 97,091 $ 97,494 $ 184,273 $ 196,425
Investment securities        
Taxable 23,639 19,524 45,735 38,131
Tax-exempt 4,916 4,871 9,347 9,914
Total interest on investment securities 28,555 24,395 55,082 48,045
Other earning assets 497 25 618 53
Total interest income 126,143 121,914 239,973 244,523
Interest expense        
Deposits 2,963 3,693 5,586 8,026
Short-term borrowings 1,373 53 1,690 120
Long-term borrowings 4,612 4,142 9,156 8,475
Total interest expense 8,948 7,888 16,432 16,621
Net interest income 117,195 114,026 223,541 227,902
Provision for Credit Losses-loans and leases (4,267) (4,756) (9,856) (1,306)
Provision for credit losses-unfunded commitments 3,481 517 3,255 1,055
Net interest income after provision for credit losses 117,981 118,265 230,142 228,153
Noninterest income        
Service Charges on Deposit Accounts 7,648 7,537 15,377 14,683
Trust and wealth management fees 6,311 6,216 12,371 11,846
Bankcard income 3,823 3,732 7,160 6,860
Client derivative fees 1,353 1,795 2,152 3,351
Foreign exchange income 13,470 12,037 23,621 22,794
Operating Lease, Lease Income 7,247 0 13,323 0
Net gain from sales of loans 5,241 8,489 9,113 17,943
Net gain (loss) on sales/transfers of investment securities 0 (265) 3 (431)
Net gain (loss) on equity securities (1,054) 161 (1,253) 273
Other 5,747 3,285 9,212 5,990
Total noninterest income 49,786 42,987 91,079 83,309
Noninterest expenses        
Salaries and employee benefits 64,992 60,784 128,939 122,037
Net occupancy 5,359 5,535 11,105 11,239
Furniture and equipment 3,201 3,371 6,768 7,340
Data processing 8,334 7,864 16,598 15,151
Marketing 2,323 2,035 4,023 3,396
Communication 670 746 1,336 1,584
Professional services 2,214 2,029 4,373 3,479
State intangible tax 1,090 1,201 2,221 2,403
FDIC assessments 1,677 1,362 3,136 2,711
Intangible assets amortization 2,915 2,480 5,829 4,959
Amortization of operating leases 4,687 0 8,556 0
Other 5,765 12,236 13,148 17,850
Total noninterest expenses 103,227 99,643 206,032 192,149
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total 64,540 61,609 115,189 119,313
Income tax expense 13,020 10,721 22,368 21,110
Net income $ 51,520 $ 50,888 $ 92,821 $ 98,203
Earnings per common share        
Basic $ 0.55 $ 0.53 $ 0.99 $ 1.02
Diluted $ 0.55 $ 0.52 $ 0.98 $ 1.01
Average common shares outstanding - basic 93,555,131 96,123,645 93,470,005 96,496,720
Average common shares outstanding - diluted 94,449,817 97,009,712 94,357,392 97,366,640