Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v3.20.4
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest income:      
Interest and fees on loans $ 362,664 $ 354,308 $ 305,370
Taxable securities 22,122 17,008 12,654
Nontaxable securities 739 1,429 2,406
Federal funds sold 332 6,038 3,103
Other interest and dividends 3,165 12,020 3,094
Total interest income 389,022 390,803 326,627
Interest expense:      
Deposits 45,230 90,958 55,502
Borrowed funds 5,755 12,200 8,446
Total interest expense 50,985 103,158 63,948
Net interest income 338,037 287,645 262,679
Provision for credit losses (1) 42,434 22,638 21,402
Net interest income after provision for credit losses 295,603 265,007 241,277
Noninterest income:      
Securities gains 0 27 190
Increase in cash surrender value life insurance 6,310 3,746 3,130
Other operating income 1,615 1,743 1,239
Total noninterest income 30,116 23,982 19,440
Noninterest expenses:      
Salaries and employee benefits 61,414 57,783 51,849
Equipment and occupancy expense 10,070 9,272 8,423
Third party processing and other services 13,778 11,234 8,671
Professional services 4,242 4,235 3,646
FDIC and other regulatory assessments 4,354 2,975 3,869
Other real estate owned expense 2,163 415 790
Other operating expenses 15,490 16,214 14,627
Total noninterest expenses 111,511 102,128 91,875
Income before income taxes 214,208 186,861 168,842
Provision for income taxes 44,639 37,618 31,902
Net income 169,569 149,243 136,940
Dividends on preferred stock 63 63 63
Net income available to common stockholders $ 169,506 $ 149,180 $ 136,877
Basic earnings per common share (in dollars per share) $ 3.15 $ 2.79 $ 2.57
Diluted earnings per common share (in dollars per share) $ 3.13 $ 2.76 $ 2.53
Deposit Account [Member]      
Noninterest income:      
Noninterest income $ 7,528 $ 7,029 $ 6,547
Mortgage Banking [Member]      
Noninterest income:      
Noninterest income 8,747 4,361 2,784
Credit Card [Member]      
Noninterest income:      
Noninterest income $ 5,916 $ 7,076 $ 5,550