Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest and dividend income:    
Interest and fees on loans $ 151,127 $ 144,115
Interest on deposits in other banks 862 473
Interest and dividends on securities:    
Taxable 11,627 13,081
Nontaxable 7,709 7,983
Total interest and dividend income 171,325 165,652
Interest expense:    
Interest on deposits 28,513 24,430
Interest on short-term borrowings 1,340 6,551
Interest on long-term borrowings 6,464 7,124
Total interest expense 36,317 38,105
Net interest income 135,008 127,547
Provision for credit losses 60,196 3,792
Net interest income after provision for credit losses 74,812 123,755
Noninterest income:    
Mortgage banking income 2,022 1,454
Gains (losses) on securities transactions 1,936 151
Bank owned life insurance income 2,049 2,055
Loan-related interest rate swap fees 3,948 1,460
Other operating income 2,141 897
Total noninterest income 28,907 24,938
Noninterest expenses:    
Salaries and benefits 50,117 48,007
Occupancy expenses 7,133 7,399
Furniture and equipment expenses 3,741 3,396
Printing, postage, and supplies 1,290 1,242
Technology and data processing 6,169 5,676
Professional services 3,307 2,958
Marketing and advertising expense 2,739 2,383
FDIC assessment premiums and other insurance 2,861 2,639
Other taxes 4,120 3,764
Loan-related expenses 2,697 2,289
OREO and credit-related expenses 688 684
Amortization of intangible assets 4,401 4,218
Training and other personnel costs 1,571 1,144
Merger-related costs 0 18,122
Rebranding expense 0 407
Other expenses 4,811 2,400
Total noninterest expenses 95,645 106,728
Income from continuing operations before income taxes 8,074 41,965
Income tax expense 985 6,249
Income from continuing operations 7,089 35,716
Discontinued operations:    
Income (loss) from operations of discontinued mortgage segment 0 (115)
Income tax expense (benefit) 0 (30)
Net income (loss) on discontinued operations 0 (85)
Net income $ 7,089 $ 35,631
Basic earnings per common share (in dollars per share) $ 0.09 $ 0.47
Diluted earnings per common share (in dollars per share) 0.09 0.47
Dividends declared per common share (in dollars per share) $ 0.25 $ 0.23
Basic weighted average number of common shares outstanding (in shares) 79,290,352 76,472,189
Diluted weighted average number of common shares outstanding (in shares) 79,317,382 76,533,066
Service charges on deposit accounts    
Noninterest income:    
Noninterest income $ 7,578 $ 7,158
Other service charges, commissions and fees    
Noninterest income:    
Noninterest income 1,624 1,664
Interchange fees    
Noninterest income:    
Noninterest income 1,625 5,045
Fiduciary and asset management fees    
Noninterest income:    
Noninterest income $ 5,984 $ 5,054