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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income:        
Loans, including fees $ 168,365 $ 152,896 $ 336,693 $ 295,166
Investment securities:        
Taxable 37,137 32,175 73,400 61,984
Tax-exempt 1,539 1,569 3,085 3,147
Other interest income 8,631 11,484 14,583 25,976
Total interest income 215,672 198,124 427,761 386,273
Interest expense:        
Savings deposits 20,631 14,778 40,547 26,472
Time deposits 23,450 11,628 44,726 18,457
Securities sold under repurchase agreements 5,319 3,295 10,559 5,437
Other borrowings 69 71 139 142
Junior subordinated deferrable interest debentures 1,972 1,897 3,951 4,125
Total interest expense 51,441 31,669 99,922 54,633
Net interest income 164,231 166,455 327,839 331,640
Credit loss expense 8,771 8,816 21,749 17,403
Net interest income after provision for credit losses 155,460 157,639 306,090 314,237
Non-interest income:        
Other investments income, (loss), net 3,049 (2,900) 4,672 55
Other income 4,844 5,554 10,447 9,399
Total non-interest income 43,520 37,702 85,762 78,064
Non-interest expense:        
Employee compensation and benefits 35,629 33,294 71,496 66,153
Occupancy 6,686 6,004 12,363 12,330
Depreciation of bank premises and equipment 5,715 5,408 11,344 10,874
Professional fees 4,212 3,338 7,903 6,928
Deposit insurance assessments 1,696 1,693 3,395 5,831
Net operations, other real estate owned 297 105 327 (1,640)
Advertising 1,462 1,289 3,282 2,553
Software and software maintenance 5,651 4,928 10,963 9,897
Other 12,760 11,475 22,678 22,637
Total non-interest expense 74,108 67,534 143,751 135,563
Income before income taxes 124,872 127,807 248,101 256,738
Provision for income taxes 27,892 27,322 53,790 54,610
Net income $ 96,980 $ 100,485 $ 194,311 $ 202,128
Basic earnings per common share:        
Weighted average number of shares outstanding (in shares) 62,177,215 62,074,485 62,163,797 62,108,188
Net income per common share (in dollars per share) $ 1.56 $ 1.62 $ 3.13 $ 3.25
Fully diluted earnings per common share:        
Weighted average number of shares outstanding (in shares) 62,292,058 62,205,297 62,279,676 62,243,626
Net income per common share (in dollars per share) $ 1.56 $ 1.62 $ 3.12 $ 3.25
Services charges on deposit accounts        
Non-interest income:        
Service charges on deposit accounts $ 18,091 $ 18,075 $ 36,358 $ 35,628
Other service charges, commissions and fees, Banking        
Non-interest income:        
Service charges on deposit accounts 14,643 14,392 29,118 28,447
Other service charges, commissions and fees, Non-banking        
Non-interest income:        
Service charges on deposit accounts $ 2,893 $ 2,581 $ 5,167 $ 4,535