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Consolidated 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
Advertising Expense $ 884 $ 1,215 $ 2,949 $ 3,107
Professional Fees 1,560 1,305 5,443 4,244
Amortization of Intangible Assets 1,310 1,449 4,037 4,704
Debit card expense 1,347 1,105 3,693 3,312
Loss on Contract Termination 0 684 0 684
Business Combination, Acquisition Related Costs 1,943 0 3,674 0
Software Maintenance 2,018 1,753 5,903 5,218
Interest income        
Interest and fees on loans 84,212 90,112 265,409 280,768
Interest Income, Securities, Operating, Taxable 7,792 7,218 21,603 23,006
Nontaxable interest and dividends on securities 4 9 14 27
Interest on loans held for sale 193 326 675 917
Interest on federal funds sold and short-term investments 815 254 1,654 546
Total interest and dividend income 93,016 97,919 289,355 305,264
Interest expense        
Interest on deposits 1,633 5,432 6,361 23,351
Interest on borrowings 1,292 1,604 3,965 5,628
Total interest expense 2,925 7,036 10,326 28,979
Net interest income 90,091 90,883 279,029 276,285
Provision for credit losses (10,000) 7,500 (17,500) 52,500
Net interest income after provision for credit losses 100,091 83,383 296,529 223,785
Noninterest income        
Deposit account fees 4,298 3,428 11,704 11,227
Interchange and ATM fees 3,441 3,044 9,229 13,154
Investment Banking, Advisory, Brokerage, and Underwriting Fees and Commissions 9,174 7,571 26,350 21,696
Mortgage banking income 2,825 7,704 11,270 13,570
Bank Owned Life Insurance Income 1,596 1,314 4,508 3,902
Gain Realized on Life Insurance Policies 0 0 (258) (692)
Loan level derivative income 586 2,457 875 8,918
Debt and Equity Securities, Unrealized Gain (Loss) 0 308 723 1,694
Other noninterest income 4,537 3,521 11,753 9,119
Total noninterest income 26,457 29,347 76,670 83,972
Noninterest expenses        
Salaries and employee benefits 42,235 38,409 124,759 113,027
Occupancy and equipment expenses 8,564 9,273 26,543 27,863
Data processing & facilities management 1,673 1,567 5,024 4,684
FDIC assessment 980 1,034 2,805 1,537
Professional Fees 1,560 1,305 5,443 4,244
Amortization of Intangible Assets 1,310 1,449 4,037 4,704
Debit card expense 1,347 1,105 3,693 3,312
Business Combination, Acquisition Related Costs 1,943 0 3,674 0
Software Maintenance 2,018 1,753 5,903 5,218
Other noninterest expenses 9,905 8,864 30,573 31,725
Total noninterest expenses 72,419 66,658 215,403 200,105
Income before income taxes 54,129 46,072 157,796 107,652
Current Federal, State and Local, Tax Expense (Benefit) 14,122 11,199 38,506 21,126
Net income $ 40,007 $ 34,873 $ 119,290 $ 86,526
Basic earnings per share (in dollars per share) $ 1.21 $ 1.06 $ 3.61 $ 2.59
Diluted earnings per share (in dollars per share) $ 1.21 $ 1.06 $ 3.61 $ 2.59
Weighted average common shares (basic) (in shares) 33,043,716 32,951,918 33,024,386 33,358,879
Common shares equivalents (in shares) 15,554 24,758 18,238 27,871
Weighted average common shares (diluted) (in shares) 33,059,270 32,976,676 33,042,624 33,386,750
Advertising Expense $ 884 $ 1,215 $ 2,949 $ 3,107
Retained Earnings [Member]        
Noninterest expenses        
Net income $ 40,007 $ 34,873 $ 119,290 $ 86,526
Cash dividends declared per common share (in dollars per share) $ 0.48 $ 0.46 $ 1.44 $ 1.38