XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest and dividend income:        
Loans $ 227,930 $ 191,740 $ 656,632 $ 544,788
Investment securities 24,519 26,289 77,887 76,027
Money market investments and interest-bearing cash accounts 10,956 4,654 23,486 8,347
Total interest and dividend income 263,405 222,683 758,005 629,162
Interest expense:        
Deposits 54,298 9,978 125,787 25,324
Advances from the FHLB:        
Short-term advances from the FHLB 0 0 4,776 0
Long-term advances from FHLB 5,675 529 14,123 2,667
Other long-term borrowings 3,345 2,273 10,135 5,304
Total interest expense 63,677 14,773 157,577 39,442
Net interest income 199,728 207,910 600,428 589,720
Provision for credit losses - expense (benefit):        
Loans and finance leases 10,643 14,352 47,669 10,028
Unfunded loan commitments (128) 2,071 488 2,705
Debt securities (6,119) (640) (6,029) (749)
Provision for credit losses - expense 4,396 15,783 42,128 11,984
Net interest income after provision for credit losses 195,332 192,127 558,300 577,736
Non-interest income:        
Service charges and fees on deposit accounts 9,552 9,820 28,380 28,649
Mortgage banking activities 2,821 3,400 8,493 12,688
Gain on early extinguishment of debt 0 0 1,605 0
Insurance commission income 2,790 2,624 10,384 10,845
Card and processing income 10,841 9,834 32,894 29,815
Other non-interest income 4,292 4,015 17,329 11,495
Total non-interest income 30,296 29,693 99,085 93,492
Non-interest expenses:        
Employees' compensation and benefits 56,535 52,939 167,271 153,797
Occupancy and equipment 21,781 22,543 64,064 66,434
Business promotion 4,759 5,136 12,901 12,641
Professional service fees 11,022 12,549 34,591 35,179
Taxes, other than income taxes 5,465 5,349 15,701 15,056
FDIC deposit insurance 2,143 1,466 6,419 4,605
Net gain on OREO operations (2,153) (1,064) (6,133) (3,269)
Credit and debit card processing expenses 6,779 6,410 18,637 16,374
Communications 2,219 2,272 6,427 6,401
Other non-interest expenses 8,088 7,589 24,945 22,956
Total non-interest expenses 116,638 115,189 344,823 330,174
Income before income taxes 108,990 106,631 312,562 341,054
Income tax expense 26,968 32,028 89,187 109,156
Net income 82,022 74,603 223,375 231,898
Net income attributable to common stockholders $ 82,022 $ 74,603 $ 223,375 $ 231,898
Net income per common share:        
Basic $ 0.47 $ 0.40 $ 1.25 $ 1.20
Diluted $ 0.46 $ 0.40 $ 1.25 $ 1.19
Short-term Debt [Member]        
Interest expense:        
Securities sold under agreements to repurchase $ 359 $ 0 $ 2,756 $ 0
Long-term Debt [Member]        
Interest expense:        
Securities sold under agreements to repurchase $ 0 $ 1,993 $ 0 $ 6,147