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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and dividend income:        
Loans $ 239,927 $ 218,066 $ 477,056 $ 428,702
Investment securities 23,258 26,258 47,380 53,368
Money market investments and interest-bearing cash accounts 9,060 7,880 16,314 12,530
Total interest and dividend income 272,245 252,204 540,750 494,600
Interest expense:        
Deposits 63,671 41,604 126,696 71,489
Short-term securities sold under agreements to repurchase 0 1,328 0 2,397
Advances from the FHLB:        
Short-term advances from the FHLB 0 435 0 4,776
Long-term advances from FHLB 5,610 5,613 11,220 8,448
Other long-term borrowings 3,336 3,409 6,686 6,790
Total interest expense 72,617 52,389 144,602 93,900
Net interest income 199,628 199,815 396,148 400,700
Provision for credit losses - expense (benefit):        
Loans and finance leases 11,930 20,770 24,847 37,026
Unfunded loan commitments (417) 721 (136) 616
Provision for credit losses - expense 11,605 22,230 23,772 37,732
Net interest income after provision for credit losses 188,023 177,585 372,376 362,968
Non-interest income:        
Service charges and fees on deposit accounts 9,725 9,287 19,387 18,828
Mortgage banking activities 3,419 2,860 6,301 5,672
Gain on early extinguishment of debt 0 1,605 0 1,605
Insurance commission income 2,786 2,747 8,293 7,594
Card and processing income 11,523 11,135 22,835 22,053
Other non-interest income 4,585 8,637 9,205 13,037
Total non-interest income 32,038 36,271 66,021 68,789
Non-interest expenses:        
Employees' compensation and benefits 57,456 54,314 116,962 110,736
Occupancy and equipment 21,851 21,097 43,232 42,283
Business promotion 4,359 4,167 8,201 8,142
Professional service fees 12,431 11,596 25,107 23,569
Taxes, other than income taxes 5,408 5,124 10,537 10,236
FDIC deposit insurance 2,316 2,143 5,418 4,276
Net gain on OREO operations (3,609) (1,984) (5,061) (3,980)
Credit and debit card processing expenses 7,607 6,540 13,358 11,858
Communications 2,261 1,992 4,358 4,208
Other non-interest expenses 8,602 7,928 17,493 16,857
Total non-interest expenses 118,682 112,917 239,605 228,185
Income before income taxes 101,379 100,939 198,792 203,572
Income tax expense 25,541 30,284 49,496 62,219
Net income 75,838 70,655 149,296 141,353
Net income attributable to common stockholders $ 75,838 $ 70,655 $ 149,296 $ 141,353
Net income per common share:        
Basic $ 0.46 $ 0.39 $ 0.90 $ 0.79
Diluted $ 0.46 $ 0.39 $ 0.90 $ 0.78
Debt Securities [Member]        
Provision for credit losses - expense (benefit):        
Debt securities $ 92 $ 739 $ (939) $ 90