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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
INTEREST INCOME        
Loans, including fees $ 144,024 $ 121,891 $ 413,860 $ 340,899
Securities:        
Taxable 8,341 9,260 26,454 27,659
Tax-exempt 18 22 56 52
Federal funds sold 1 63 25 176
Interest-bearing deposits with banks 35,266 28,989 97,363 87,703
Total interest income 187,650 160,225 537,758 456,489
INTEREST EXPENSE        
Deposits 71,615 54,838 203,507 133,747
Short-term borrowings 48 49 203 261
Subordinated debt 1,030 1,030 3,091 3,091
Total interest expense 72,693 55,917 206,801 137,099
Net interest income 114,957 104,308 330,957 319,390
Provision for credit losses 3,031 2,312 10,404 7,458
Net interest income after provision for credit losses 111,926 101,996 320,553 311,932
NONINTEREST INCOME        
Securities transactions (308) (361) (258) (464)
Sales of loans 721 734 1,945 2,095
Insurance commissions 9,391 8,429 25,514 23,395
Cash management 9,189 8,177 26,989 22,838
(Loss)/gain on sale of other assets (63) 464 (67) 1,258
Other 6,387 5,113 15,752 16,925
Total noninterest income 48,712 44,449 137,556 140,251
NONINTEREST EXPENSE        
Salaries and employee benefits 54,215 50,200 157,671 149,255
Occupancy, net 5,776 5,487 16,215 15,588
Depreciation 4,482 4,685 13,542 14,097
Amortization of intangible assets 886 885 2,659 2,645
Data processing services 2,720 1,820 8,032 6,144
Net expense from other real estate owned 2,751 2,720 6,609 8,068
Marketing and business promotion 2,168 2,034 6,670 6,461
Deposit insurance 1,645 1,419 4,697 4,495
Other 12,091 11,965 38,734 35,889
Total noninterest expense 86,734 81,215 254,829 242,642
Income before taxes 73,904 65,230 203,280 209,541
Income tax expense 15,001 14,242 43,402 46,010
Net income $ 58,903 $ 50,988 $ 159,878 $ 163,531
NET INCOME PER COMMON SHARE        
Basic $ 1.78 $ 1.55 $ 4.84 $ 4.97
Diluted $ 1.75 $ 1.52 $ 4.76 $ 4.88
OTHER COMPREHENSIVE GAIN/(LOSS)        
Unrealized income/(loss) on debt securities, net of tax (expense)/benefit of $(7,387), $1,919, $(7,922) and $1,765, respectively $ 23,844 $ (6,172) $ 25,645 $ (5,614)
Other comprehensive income/(loss), net of tax (expense)/benefit of $(7,387), $1,919, $(7,922) and $1,765, respectively 23,844 (6,172) 25,645 (5,614)
Comprehensive income 82,747 44,816 185,523 157,917
Trust Revenue [Member]        
NONINTEREST INCOME        
Revenue 5,672 4,866 16,250 13,678
Service Charges on Deposits [Member]        
NONINTEREST INCOME        
Revenue $ 17,723 $ 17,027 $ 51,431 $ 60,526