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Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest Income        
Investment securities $ 28,730 $ 25,833 $ 56,036 $ 46,847
Residential real estate loans 9,541 12,098 19,687 23,624
Commercial loans 110,829 106,343 224,370 205,027
Consumer and other loans 10,856 11,130 21,415 22,771
Total interest income 159,956 155,404 321,508 298,269
Interest Expense        
Deposits 2,804 4,587 5,818 10,168
Securities sold under agreements to repurchase 651 908 1,340 1,897
Federal Home Loan Bank advances 0 268 0 614
Other borrowed funds 177 172 351 300
Subordinated debentures 855 1,250 1,718 2,702
Total interest expense 4,487 7,185 9,227 15,681
Net Interest Income 155,469 148,219 312,281 282,588
Provision for credit losses (5,653) 16,929 (5,605) 36,114
Net interest income after provision for credit losses 161,122 131,290 317,886 246,474
Non-Interest Income        
Service charges and other fees 13,795 11,366 26,587 25,386
Miscellaneous loan fees and charges 2,923 1,682 5,701 2,967
Gain on sale of loans 16,106 25,858 37,730 37,720
(Loss) gain on sale of debt securities (61) 128 223 991
Other income 2,759 2,190 5,402 7,432
Total non-interest income 35,522 41,224 75,643 74,496
Non-Interest Expense        
Compensation and employee benefits 64,109 57,981 126,577 117,641
Occupancy and equipment 9,208 9,357 18,723 18,576
Advertising and promotions 2,906 2,138 5,277 4,625
Data processing 5,661 5,042 10,867 10,324
Other real estate owned 48 75 60 187
Regulatory assessments and insurance 1,702 1,037 3,581 2,127
Core deposit intangibles amortization 2,488 2,613 4,976 5,146
Other expenses 13,960 16,521 26,606 31,625
Total non-interest expense 100,082 94,764 196,667 190,251
Income Before Income Taxes 96,562 77,750 196,862 130,719
Federal and state income tax expense 18,935 14,306 38,433 23,936
Net Income $ 77,627 $ 63,444 $ 158,429 $ 106,783
Basic earnings per share (in dollars per share) $ 0.81 $ 0.67 $ 1.66 $ 1.13
Diluted earnings per share (in dollars per share) 0.81 0.66 1.66 1.13
Dividends declared per share (in dollars per share) $ 0.32 $ 0.29 $ 0.63 $ 0.58
Average outstanding shares - basic (in shares) 95,505,877 95,405,493 95,485,839 94,346,582
Average outstanding shares - diluted (in shares) 95,580,904 95,430,403 95,565,591 94,395,930