XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest and dividend income:        
Loans $ 218,066 $ 179,261 $ 428,702 $ 353,048
Investment securities 26,258 26,491 53,368 49,738
Money market investments and interest-bearing cash accounts 7,880 2,873 12,530 3,693
Total interest and dividend income 252,204 208,625 494,600 406,479
Interest expense:        
Deposits 41,604 7,694 71,489 15,346
Advances from the FHLB:        
Short-term advances from the FHLB 435 0 4,776 0
Long-term advances from FHLB 5,613 1,075 8,448 2,138
Other long-term borrowings 3,409 1,698 6,790 3,031
Total interest expense 52,389 12,439 93,900 24,669
Net interest income 199,815 196,186 400,700 381,810
Provision for credit losses - expense (benefit):        
Loans and finance leases 20,770 12,665 37,026 (4,324)
Provision for credit losses - expense (benefit) 22,230 10,003 37,732 (3,799)
Net interest income after provision for credit losses 177,585 186,183 362,968 385,609
Non-interest income:        
Service charges and fees on deposit accounts 9,287 9,466 18,828 18,829
Mortgage banking activities 2,860 4,082 5,672 9,288
Gain on early extinguishment of debt 1,605 0 1,605 0
Insurance commission income 2,747 2,946 7,594 8,221
Card and processing income 11,135 10,300 22,053 19,981
Other non-interest income 8,637 4,147 13,037 7,480
Total non-interest income 36,271 30,941 68,789 63,799
Non-interest expenses:        
Employees' compensation and benefits 54,314 51,304 110,736 100,858
Occupancy and equipment 21,097 21,505 42,283 43,891
Business promotion 4,167 4,042 8,142 7,505
Professional service fees 11,596 12,036 23,569 22,630
Taxes, other than income taxes 5,124 4,689 10,236 9,707
FDIC deposit insurance 2,143 1,466 4,276 3,139
Net gain on OREO operations (1,984) (1,485) (3,980) (2,205)
Credit and debit card processing expenses 6,540 5,843 11,858 9,964
Communications 1,992 1,978 4,208 4,129
Other non-interest expenses 7,928 6,948 16,857 15,367
Total non-interest expenses 112,917 108,326 228,185 214,985
Income before income taxes 100,939 108,798 203,572 234,423
Income tax expense 30,284 34,103 62,219 77,128
Net income 70,655 74,695 141,353 157,295
Net income attributable to common stockholders $ 70,655 $ 74,695 $ 141,353 $ 157,295
Net income per common share:        
Basic $ 0.39 $ 0.38 $ 0.79 $ 0.80
Diluted $ 0.39 $ 0.38 $ 0.78 $ 0.80
Short-term Debt [Member]        
Interest expense:        
Securities sold under agreements to repurchase $ 1,328 $ 0 $ 2,397 $ 0
Long-term Debt [Member]        
Interest expense:        
Securities sold under agreements to repurchase 0 1,972 0 4,154
Debt Securities [Member]        
Provision for credit losses - expense (benefit):        
Other credit losses 739 (3,474) 90 (109)
Unfunded Loan Commitment [Member]        
Provision for credit losses - expense (benefit):        
Other credit losses $ 721 $ 812 $ 616 $ 634