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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest and dividends on securities      
Taxable $ 29,206 $ 29,718 $ 35,354
Nontaxable 577 454 555
Interest and fees on loans 251,471 254,366 250,535
Interest on interest bearing deposits and other investments 2,990 2,497 3,379
Total Interest Income 284,244 287,035 289,823
Interest Expense      
Interest on deposits 3,605 6,920 16,621
Interest on time certificates 2,788 13,365 21,776
Interest on securities sold under agreement to repurchase 141 283 1,431
Interest on Federal Home Loan Bank (“FHLB”) borrowings 0 1,540 3,010
Interest on subordinated debt 1,685 2,184 3,367
Total Interest Expense 8,219 24,292 46,205
Net Interest Income 276,025 262,743 243,618
Provision for credit losses (9,421) 38,179 10,999
Net Interest Income After Provision for Credit Losses 285,446 224,564 232,619
Noninterest Income:      
Service charges on deposit accounts 9,777 9,429 11,529
Interchange income 16,231 13,711 13,399
Wealth management income 9,628 7,507 6,352
Mortgage banking fees 11,782 14,696 6,490
Marine finance fees 665 690 1,053
SBA gains 1,531 685 2,472
BOLI income 4,154 3,561 3,674
SBIC income 6,778 1,373 904
Other 10,759 8,683 9,642
Noninterest income, excluding securities gains (losses) 71,305 60,335 55,515
Securities (losses) gains, net (includes net gains of $2.2 million for 2021, net gains of $0.2 million for 2020 and net gains of $6.2 million for 2019 in other comprehensive income reclassifications) (578) 1,235 1,217
Total Noninterest Income 70,727 61,570 56,732
Noninterest Expense:      
Salaries and wages 97,283 88,539 73,829
Employee benefits 17,873 15,544 13,697
Outsourced data processing costs 19,919 19,053 15,077
Telephone / data lines 3,223 2,984 2,958
Occupancy 14,140 14,150 14,284
Furniture and equipment 5,390 5,874 6,245
Marketing 4,583 4,833 4,161
Legal and professional fees 11,376 9,167 8,553
FDIC assessments 2,405 1,268 881
Amortization of intangibles 5,033 5,857 5,826
Foreclosed property expense and net (gain) loss on sale (264) 2,263 51
Provision for credit losses on unfunded commitments 133 185 0
Other 16,341 15,835 15,177
Total Noninterest Expense 197,435 185,552 160,739
Income Before Income Taxes 158,738 100,582 128,612
Income taxes 34,335 22,818 29,873
Net Income $ 124,403 $ 77,764 $ 98,739
Net income per share of common stock      
Diluted (in dollars per share) $ 2.18 $ 1.44 $ 1.90
Basic (in dollars per share) $ 2.20 $ 1.45 $ 1.92
Average common shares outstanding      
Diluted (in shares) 57,088 53,930 52,029
Basic (in shares) 56,586 53,502 51,449