Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

v3.20.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income:        
Interest and fees on loans $ 89,564 $ 90,767 $ 268,332 $ 264,901
Taxable securities 5,858 4,367 16,104 12,306
Nontaxable securities 166 316 610 1,155
Federal funds sold 16 1,768 327 4,985
Other interest and dividends 506 3,912 2,584 9,269
Total interest income 96,110 101,130 287,957 292,616
Interest expense:        
Deposits 9,876 24,787 37,377 71,172
Borrowed funds 1,152 3,338 4,624 9,576
Total interest expense 11,028 28,125 42,001 80,748
Net interest income 85,082 73,005 245,956 211,868
Provision for loan losses 12,284 6,985 36,151 16,754
Net interest income after provision for loan losses 72,798 66,020 209,805 195,114
Noninterest income:        
Securities gains 0 34 0 28
Increase in cash surrender value life insurance 1,733 787 4,650 2,327
Other operating income 262 453 972 1,172
Total noninterest income 8,172 6,210 21,879 16,930
Noninterest expenses:        
Salaries and employee benefits 14,994 15,499 46,444 44,103
Equipment and occupancy expense 2,556 2,387 7,390 6,933
Third party processing and other services 3,281 2,923 10,360 8,058
Professional services 955 887 2,994 3,072
FDIC and other regulatory assessments (credits) 1,061 (296) 2,988 1,804
OREO expense 119 78 2,023 312
Other operating expenses 3,607 3,683 11,110 12,227
Total noninterest expenses 26,573 25,161 83,309 76,509
Income before income taxes 54,397 47,069 148,375 135,535
Provision for income taxes 11,035 9,506 29,787 27,329
Net income 43,362 37,563 118,588 108,206
Preferred stock dividends 0 0 31 31
Net income available to common stockholders $ 43,362 $ 37,563 $ 118,557 $ 108,175
Basic earnings per common share (in dollars per share) $ 0.80 $ 0.70 $ 2.20 $ 2.02
Diluted earnings per common share (in dollars per share) $ 0.80 $ 0.69 $ 2.19 $ 2.00
Deposit Account [Member]        
Noninterest income:        
Noninterest income $ 1,818 $ 1,735 $ 5,557 $ 5,223
Mortgage Banking [Member]        
Noninterest income:        
Noninterest income 2,519 1,333 5,697 2,995
Credit Card [Member]        
Noninterest income:        
Noninterest income $ 1,840 $ 1,868 $ 5,003 $ 5,185