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, 2021
Mar. 31, 2020
Interest and dividend income:    
Interest and fees on loans $ 128,006 $ 151,127
Interest on deposits in other banks 77 862
Interest and dividends on securities:    
Taxable 10,353 11,627
Nontaxable 9,237 7,709
Total interest and dividend income 147,673 171,325
Interest expense:    
Interest on deposits 9,128 28,513
Interest on short-term borrowings 48 1,340
Interest on long-term borrowings 3,599 6,464
Total interest expense 12,775 36,317
Net interest income 134,898 135,008
Provision for credit losses (13,624) 60,196
Net interest income after provision for credit losses 148,522 74,812
Noninterest income:    
Mortgage banking income 8,255 2,022
Gains on securities transactions 78 1,936
Bank owned life insurance income 2,265 2,049
Loan-related interest rate swap fees 1,754 3,948
Other operating income 3,101 2,141
Total noninterest income 30,985 28,907
Noninterest expenses:    
Salaries and benefits 52,660 50,117
Occupancy expenses 7,315 7,133
Furniture and equipment expenses 3,968 3,741
Technology and data processing 6,904 6,169
Professional services 4,960 3,307
Marketing and advertising expense 2,044 2,739
FDIC assessment premiums and other insurance 2,307 2,861
Other taxes 4,436 4,120
Loan-related expenses 1,877 2,697
OREO and credit-related expenses (114) 688
Amortization of intangible assets 3,730 4,401
Loss on debt extinguishment 14,695 0
Other expenses 7,155 7,672
Total noninterest expenses 111,937 95,645
Income from continuing operations before income taxes 67,570 8,074
Income tax expense 11,381 985
Net income 56,189 7,089
Dividends on preferred stock 2,967 0
Net Income available to common shareholders $ 53,222 $ 7,089
Basic earnings per common share (in dollars per share) $ 0.67 $ 0.09
Diluted earnings per common share (in dollars per share) 0.67 0.09
Dividends declared per common share (in dollars per share) $ 0.25 $ 0.25
Weighted average shares outstanding, basic (in shares) 78,863,468 79,290,352
Diluted weighted average number of common shares outstanding (in shares) 78,884,235 79,317,382
Service charges on deposit accounts    
Noninterest income:    
Noninterest income $ 5,509 $ 7,578
Other service charges, commissions and fees    
Noninterest income:    
Noninterest income 1,701 1,624
Interchange fees    
Noninterest income:    
Noninterest income 1,847 1,625
Fiduciary and asset management fees    
Noninterest income:    
Noninterest income $ 6,475 $ 5,984