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CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Loans receivable:        
Taxable $ 85,319 $ 84,162 $ 257,426 $ 268,126
Tax exempt 5,591 5,395 16,475 16,069
Investment securities:        
Taxable 7,788 5,399 21,923 19,177
Tax exempt 14,464 10,931 39,920 30,285
Deposits with financial institutions 218 90 461 799
Federal Home Loan Bank stock 168 248 434 828
Total Interest Income 113,548 106,225 336,639 335,284
INTEREST EXPENSE        
Deposits 5,707 9,776 17,730 44,231
Federal funds purchased 0 5 4 118
Securities sold under repurchase agreements 77 83 239 527
Federal Home Loan Bank advances 1,389 1,749 4,283 5,317
Subordinated debentures and other borrowings 1,660 1,691 4,976 5,275
Total Interest Expense 8,833 13,304 27,232 55,468
NET INTEREST INCOME 104,715 92,921 309,407 279,816
Provision for credit losses - loans 0 12,544 0 54,191
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 104,715 80,377 309,407 225,625
OTHER INCOME        
Net gains and fees on sales of loans 3,955 5,841 16,266 12,878
Increase in cash surrender value of life insurance 1,198 1,170 3,592 3,761
Gains on life insurance benefits 1,270 1 1,417 96
Net realized gains on sales of available for sale securities 1,756 1,817 5,316 9,497
Other income 1,144 132 2,393 1,425
Total Other Income 28,501 26,163 83,476 82,443
OTHER EXPENSES        
Salaries and employee benefits 43,314 39,187 124,563 114,128
Net occupancy 5,576 5,855 17,682 17,103
Equipment 4,529 4,956 14,407 13,789
Marketing 1,676 1,311 3,922 4,846
Outside data processing fees 4,794 3,776 13,736 10,593
Printing and office supplies 265 331 861 997
Intangible asset amortization 1,463 1,486 4,284 4,511
FDIC assessments 1,552 1,249 4,381 4,244
Other real estate owned and foreclosure expenses (91) 717 821 1,906
Professional and other outside services 2,767 2,254 8,286 6,065
Other expenses 5,539 3,587 13,834 12,687
Total Other Expenses 71,384 64,709 206,777 190,869
INCOME BEFORE INCOME TAX 61,832 41,831 186,106 117,199
Income tax expense 9,062 5,621 28,308 13,734
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 52,770 $ 36,210 $ 157,798 $ 103,465
Per Share Data:        
Basic Net Income Available to Common Stockholders (in dollars per share) $ 0.98 $ 0.67 $ 2.93 $ 1.91
Diluted Net Income Available to Common Stockholders (in dollars per share) 0.98 0.67 2.92 1.91
Cash Dividends Paid (in dollars per share) $ 0.29 $ 0.26 $ 0.84 $ 0.78
Average Diluted Shares Outstanding (in shares) 53,959,765 53,970,598 54,093,063 54,277,882
Service charges on deposit accounts        
OTHER INCOME        
Other income $ 6,249 $ 5,209 $ 17,109 $ 15,491
Fiduciary and wealth management fees        
OTHER INCOME        
Other income 7,352 5,910 21,284 17,496
Card payment fees        
OTHER INCOME        
Other income 4,156 3,996 12,682 16,000
Derivative hedge fees        
OTHER INCOME        
Other income 1,028 1,715 2,288 4,696
Other customer fees        
OTHER INCOME        
Other income $ 393 $ 372 $ 1,129 $ 1,103