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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
INTEREST INCOME        
Loans, including fees $ 132,216 $ 163,180 $ 417,444 $ 527,656
Interest bearing balances due from banks and federal funds sold 763 623 2,212 3,667
Investment securities 30,717 14,910 79,418 47,326
Mortgage loans held for sale 230 1,012 1,255 1,961
TOTAL INTEREST INCOME 163,926 179,725 500,329 580,610
INTEREST EXPENSE        
Deposits 9,116 16,206 33,077 65,489
Federal funds purchased and securities sold under agreements to repurchase 70 335 507 1,431
Other borrowings 4,893 4,943 14,592 14,783
Subordinated notes and debentures 4,610 4,631 13,702 14,133
TOTAL INTEREST EXPENSE 18,689 26,115 61,878 95,836
NET INTEREST INCOME 145,237 153,610 438,451 484,774
Provision for credit loss expense (19,890) 22,981 (31,396) 68,030
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 165,127 130,629 469,847 416,744
NON-INTEREST INCOME        
Investment banking income 732 557 2,081 2,005
Bank owned life insurance income 2,573 1,591 6,134 4,334
Gain on sale of securities, net 5,248 22,305 15,846 54,790
Other income 6,220 5,380 24,590 27,990
TOTAL NON-INTEREST INCOME 48,550 69,479 145,214 198,008
NON-INTEREST EXPENSE        
Salaries and employee benefits 61,902 61,144 182,503 186,712
Occupancy expense, net 9,361 9,647 27,764 28,374
Furniture and equipment expense 4,895 6,231 15,169 18,098
Other real estate and foreclosure expense 339 602 1,545 1,201
Deposit insurance 1,870 2,244 4,865 7,557
Merger related costs 1,401 902 2,320 3,800
Other operating expenses 34,565 35,807 107,826 113,154
TOTAL NON-INTEREST EXPENSE 114,333 116,577 341,992 358,896
INCOME BEFORE INCOME TAXES 99,344 83,531 273,069 255,856
Provision for income taxes 18,770 17,633 50,151 53,920
NET INCOME 80,574 65,898 222,918 201,936
Preferred stock dividends 13 13 39 39
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 80,561 $ 65,885 $ 222,879 $ 201,897
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.75 $ 0.60 $ 2.06 $ 1.83
DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.74 $ 0.60 $ 2.05 $ 1.83
Trust income        
NON-INTEREST INCOME        
Non-interest income $ 7,145 $ 6,744 $ 21,049 $ 21,148
Service charges on deposit accounts        
NON-INTEREST INCOME        
Non-interest income 11,557 10,385 31,322 32,283
Other service charges and fees        
NON-INTEREST INCOME        
Non-interest income 1,964 1,764 5,934 4,841
Mortgage lending income        
NON-INTEREST INCOME        
Non-interest income 5,818 13,971 16,755 31,476
SBA lending income        
NON-INTEREST INCOME        
Non-interest income 191 304 718 845
Debit and credit card fees        
NON-INTEREST INCOME        
Non-interest income $ 7,102 $ 6,478 $ 20,785 $ 18,296