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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income        
Interest and fees on loans $ 88,814 $ 91,634 $ 181,197 $ 190,656
Interest Income, Securities, Operating, Taxable 7,184 7,831 13,811 15,788
Nontaxable interest and dividends on securities 5 9 10 18
Interest on loans held for sale 186 359 482 591
Interest on federal funds sold and short-term investments 513 132 839 292
Total interest and dividend income 96,702 99,965 196,339 207,345
Interest expense        
Interest on deposits 2,017 7,027 4,728 17,919
Interest on borrowings 1,331 1,840 2,673 4,024
Total interest expense 3,348 8,867 7,401 21,943
Net interest income 93,354 91,098 188,938 185,402
Provision for credit losses (5,000) 20,000 (7,500) 45,000
Net interest income after provision for credit losses 98,354 71,098 196,438 140,402
Noninterest income        
Deposit account fees 3,822 2,829 7,406 7,799
Interchange and ATM fees 3,068 5,214 5,788 10,110
Investment Banking, Advisory, Brokerage, and Underwriting Fees and Commissions 8,872 7,296 17,176 14,125
Mortgage banking income 2,705 5,005 8,445 5,866
Bank Owned Life Insurance Income 1,589 1,312 2,912 2,588
Gain Realized on Life Insurance Policies 0 (335) (258) (692)
Loan level derivative income 116 2,864 289 6,461
Debt and Equity Securities, Unrealized Gain (Loss) 436 1,386 723 1,386
Other noninterest income 4,359 1,949 7,216 5,598
Total noninterest income 24,967 28,190 50,213 54,625
Noninterest expenses        
Salaries and employee benefits 42,635 37,269 82,524 74,618
Occupancy and equipment expenses 8,706 9,273 17,979 18,590
Data processing & facilities management 1,686 1,459 3,351 3,117
FDIC assessment 775 503 1,825 503
Professional Fees 1,492 1,603 3,883 2,939
Amortization of Intangible Assets 1,293 1,433 2,685 2,964
Business Combination, Acquisition Related Costs 1,731 0 1,731 0
Software Maintenance 1,915 1,780 3,885 3,465
Other noninterest expenses 13,069 13,287 25,121 27,251
Total noninterest expenses 73,302 66,607 142,984 133,447
Income before income taxes 50,019 32,681 103,667 61,580
Current Federal, State and Local, Tax Expense (Benefit) 12,447 7,779 24,384 9,927
Net income $ 37,572 $ 24,902 $ 79,283 $ 51,653
Basic earnings per share (in dollars per share) $ 1.14 $ 0.76 $ 2.40 $ 1.54
Diluted earnings per share (in dollars per share) $ 1.14 $ 0.76 $ 2.40 $ 1.54
Weighted average common shares (basic) (in shares) 33,033,578 32,944,761 33,014,561 33,564,596
Common shares equivalents (in shares) 21,270 28,098 25,085 31,991
Weighted average common shares (diluted) (in shares) 33,054,848 32,972,859 33,039,646 33,596,587
Retained Earnings [Member]        
Noninterest expenses        
Net income $ 37,572 $ 24,902 $ 79,283 $ 51,653
Cash dividends declared per common share (in dollars per share) $ 0.48 $ 0.46 $ 0.96 $ 0.92