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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income:        
Interest and fees on loans $ 74,067 $ 71,152 $ 147,770 $ 140,593
Interest and dividends on taxable investments 17,427 16,517 33,514 32,041
Interest on nontaxable investments 2,858 3,336 5,749 6,775
Total interest income 94,352 91,005 187,033 179,409
Interest expense:        
Interest on deposits 4,560 2,381 8,667 4,513
Interest on borrowings 429 446 1,050 926
Interest on subordinated debt held by unconsolidated subsidiary trusts 1,063 1,332 2,157 2,500
Total interest expense 6,052 4,159 11,874 7,939
Net interest income 88,300 86,846 175,159 171,470
Provision for loan losses 1,400 2,448 3,822 6,127
Net interest income after provision for loan losses 86,900 84,398 171,337 165,343
Noninterest revenues:        
Deposit service fees 15,996 18,964 31,860 38,141
Other banking revenues 1,147 1,163 2,683 2,406
Employee benefit services 23,787 22,542 47,841 45,548
Insurance services 8,329 7,415 16,191 14,774
Wealth management services 6,578 6,496 12,927 13,202
Gain on sale of investment securities, net 4,882 0 4,882 0
Unrealized (loss) gain on equity securities (13) (21) 18 (21)
Total noninterest revenues 60,706 56,559 116,402 114,050
Noninterest expenses:        
Salaries and employee benefits 54,008 52,402 107,387 104,261
Occupancy and equipment 9,619 9,437 19,907 19,968
Data processing and communications 10,401 10,212 19,800 18,954
Amortization of intangible assets 3,904 4,555 8,034 9,353
Legal and professional fees 2,684 2,745 5,404 5,525
Business development and marketing 3,140 2,654 5,928 4,714
Acquisition expenses 1,194 71 1,728 63
Other expenses 6,226 4,036 11,640 9,605
Total noninterest expenses 91,176 86,112 179,828 172,443
Income before income taxes 56,430 54,845 107,911 106,950
Income taxes 11,415 10,239 20,950 22,238
Net income $ 45,015 $ 44,606 $ 86,961 $ 84,712
Basic earnings per share (in dollars per share) $ 0.87 $ 0.87 $ 1.68 $ 1.65
Diluted earnings per share (in dollars per share) $ 0.86 $ 0.86 $ 1.66 $ 1.63