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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
INTEREST INCOME        
Loans, including fees $ 138,804 $ 176,910 $ 285,228 $ 364,476
Interest bearing balances due from banks and federal funds sold 651 603 1,449 3,044
Investment securities 27,128 13,473 48,701 32,416
Mortgage loans held for sale 386 668 1,025 949
TOTAL INTEREST INCOME 166,969 191,654 336,403 400,885
INTEREST EXPENSE        
Deposits 10,782 18,006 23,961 49,283
Federal funds purchased and securities sold under agreements to repurchase 192 337 437 1,096
Other borrowings 4,897 4,963 9,699 9,840
Subordinated notes and debentures 4,565 4,667 9,092 9,502
TOTAL INTEREST EXPENSE 20,436 27,973 43,189 69,721
NET INTEREST INCOME 146,533 163,681 293,214 331,164
Provision for credit loss expense (12,951) 21,915 (11,506) 45,049
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 159,484 141,766 304,720 286,115
NON-INTEREST INCOME        
Investment banking income 654 571 1,349 1,448
Bank owned life insurance income 2,038 1,445 3,561 2,743
Gain on sale of securities, net 5,127 390 10,598 32,485
Other income 8,110 9,809 18,370 22,610
TOTAL NON-INTEREST INCOME 47,924 48,806 98,264 129,851
NON-INTEREST EXPENSE        
Salaries and employee benefits 60,261 57,644 120,601 125,568
Occupancy expense, net 9,103 9,217 18,403 18,727
Furniture and equipment expense 4,859 6,144 10,274 11,867
Other real estate and foreclosure expense 863 274 1,206 599
Deposit insurance 1,687 2,838 2,995 5,313
Merger related costs 686 1,830 919 2,898
Other operating expenses 38,007 38,230 74,861 78,669
TOTAL NON-INTEREST EXPENSE 115,466 116,177 229,259 243,641
INCOME BEFORE INCOME TAXES 91,942 74,395 173,725 172,325
Provision for income taxes 17,018 15,593 31,381 36,287
NET INCOME 74,924 58,802 142,344 136,038
Preferred stock dividends 13 13 26 26
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 74,911 $ 58,789 $ 142,318 $ 136,012
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.69 $ 0.54 $ 1.31 $ 1.23
DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.69 $ 0.54 $ 1.31 $ 1.22
Trust income        
NON-INTEREST INCOME        
Non-interest income $ 7,238 $ 7,253 $ 13,904 $ 14,404
Service charges on deposit accounts        
NON-INTEREST INCOME        
Non-interest income 10,050 8,570 19,765 21,898
Other service charges and fees        
NON-INTEREST INCOME        
Non-interest income 2,048 1,489 3,970 3,077
Mortgage lending income        
NON-INTEREST INCOME        
Non-interest income 4,490 12,459 10,937 17,505
SBA lending income        
NON-INTEREST INCOME        
Non-interest income 287 245 527 541
Debit and credit card fees        
NON-INTEREST INCOME        
Non-interest income $ 7,882 $ 6,575 $ 15,283 $ 13,140