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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
INTEREST INCOME:    
Interest and fees on loans $ 102,369 $ 112,439
Interest on securities:    
Taxable 32,620 30,443
Nontaxable 6,202 4,503
Interest on federal funds sold 0 1
Interest on interest bearing deposits in other financial institutions 71 66
TOTAL INTEREST INCOME 141,262 147,452
INTEREST EXPENSE:    
Interest on deposits 2,977 4,395
Interest on short-term borrowings 46 152
Interest on other borrowings (includes $0 and $(591) of interest benefit related to derivatives reclassified from accumulated other comprehensive income (loss) for the three months ended March 31, 2022 and 2021, respectively) 3,560 3,300
TOTAL INTEREST EXPENSE 6,583 7,847
NET INTEREST INCOME 134,679 139,605
Provision (benefit) for credit losses 3,245 (648)
NET INTEREST INCOME AFTER PROVISION (BENEFIT) FOR CREDIT LOSSES 131,434 140,253
NONINTEREST INCOME:    
Loan servicing income 286 838
Securities gains (losses), net (includes $1,991 and $(30) of net security gains (losses) reclassified from accumulated other comprehensive income (loss) for the three months ended March 31, 2022 and 2021, respectively) 2,872 (30)
Unrealized gain on equity securities, net (283) (110)
Net gains on sale of loans held for sale 3,411 6,420
Valuation adjustment on servicing rights 1,658 917
Income on bank owned life insurance 524 829
Other noninterest income 3,902 1,152
TOTAL NONINTEREST INCOME 34,569 30,317
NONINTEREST EXPENSES:    
Salaries and employee benefits 66,174 59,062
Occupancy 7,362 7,918
Furniture and equipment 3,519 3,093
Professional fees 15,156 13,490
Advertising 1,555 1,469
Core deposit and customer relationship intangibles amortization 2,054 2,516
Other real estate and loan collection expenses 195 135
Loss on sales/valuations of assets, net 46 194
Acquisition, integration and restructuring costs 576 2,928
Partnership investment in tax credit projects 77 35
Other noninterest expenses 14,083 11,583
TOTAL NONINTEREST EXPENSES 110,797 102,423
INCOME BEFORE INCOME TAXES 55,206 68,147
Income taxes (includes $503 and $143 of income tax expense reclassified from accumulated other comprehensive income (loss) for the three months ended March 31, 2022 and 2021, respectively) 12,117 15,333
NET INCOME 43,089 52,814
Preferred dividends (2,013) (2,013)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 41,076 $ 50,801
EARNINGS PER COMMON SHARE - BASIC (in dollars per share) $ 0.97 $ 1.20
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share) 0.97 1.20
CASH DIVIDENDS DECLARED PER COMMON SHARE (in dollars per share) $ 0.27 $ 0.22
Service charges and fees    
NONINTEREST INCOME:    
Revenue from contract with customers $ 15,251 $ 13,671
Trust fees    
NONINTEREST INCOME:    
Revenue from contract with customers 6,079 5,777
Brokerage and insurance commissions    
NONINTEREST INCOME:    
Revenue from contract with customers $ 869 $ 853