XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest and dividend income:      
Loans $ 747,901,000 $ 719,153,000 $ 631,047,000
Investment securities 102,922,000 72,893,000 58,547,000
Money market investments and interest-bearing cash accounts 11,791,000 2,662,000 3,388,000
Total interest and dividend income 862,614,000 794,708,000 692,982,000
Interest expense:      
Deposits 46,361,000 41,482,000 68,388,000
Securities sold under agreements to repurchase 7,555,000 9,963,000 6,645,000
Advances from FHLB 5,136,000 8,199,000 11,251,000
Other borrowings 8,269,000 5,135,000 6,376,000
Total interest expense 67,321,000 64,779,000 92,660,000
Net interest income 795,293,000 729,929,000 600,322,000
Provision for credit losses - expense (benefit):      
Loans and finance leases 25,679,000 (61,720,000) 168,717,000
Provision for credit losses - expense (benefit) 27,696,000 (65,698,000) 170,985,000
Net interest income after provision for credit losses 767,597,000 795,627,000 429,337,000
Non-interest income:      
Service charges and fees on deposit accounts 37,823,000 35,284,000 24,612,000
Mortgage banking activities 15,260,000 24,998,000 22,124,000
Net gain investment securities 0 0 13,198,000
Gain on early extinguishment of debt 0 0 94,000
Insurance commission income 13,743,000 11,945,000 9,364,000
Card and processing income 40,416,000 36,508,000 25,609,000
Other non-interest income 15,850,000 12,429,000 16,225,000
Total non-interest income 123,092,000 121,164,000 111,226,000
Non-interest expenses:      
Employees' compensation and benefits 206,038,000 200,457,000 177,073,000
Occupancy and equipment 88,277,000 93,253,000 74,633,000
Business promotion 18,231,000 15,359,000 12,145,000
Professional service fees 47,848,000 59,956,000 52,633,000
Taxes, other than income taxes 20,267,000 22,151,000 17,762,000
Federal Deposit Insurance Corporation ("FDIC") deposit insurance 6,149,000 6,544,000 6,488,000
Net (gain) loss on OREO operations (5,826,000) (2,160,000) 3,598,000
Credit and debit card processing expenses 22,736,000 22,169,000 19,144,000
Communications 8,723,000 9,387,000 8,437,000
Merger and restructuring costs 0 26,435,000 26,509,000
Other non-interest expenses 30,662,000 35,423,000 25,818,000
Total non-interest expenses 443,105,000 488,974,000 424,240,000
Income before income taxes 447,584,000 427,817,000 116,323,000
Income tax expense 142,512,000 146,792,000 14,050,000
Net income 305,072,000 281,025,000 102,273,000
Net income attributable to common stockholders $ 305,072,000 $ 277,338,000 $ 99,597,000
Net income per common share:      
Basic $ 1.60 $ 1.32 $ 0.46
Diluted $ 1.59 $ 1.31 $ 0.46
Debt Securities [Member]      
Provision for credit losses - expense (benefit):      
Other credit losses $ (719,000) $ (410,000) $ 1,085,000
Unfunded Loan Commitment [Member]      
Provision for credit losses - expense (benefit):      
Other credit losses $ 2,736,000 $ (3,568,000) $ 1,183,000