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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest and dividend income:        
Loans $ 243,720 $ 227,930 $ 720,776 $ 656,632
Investment securities 22,173 24,519 69,553 77,887
Money market investments and interest-bearing cash accounts 8,782 10,956 25,096 23,486
Total interest and dividend income 274,675 263,405 815,425 758,005
Interest expense:        
Deposits 63,704 54,298 190,400 125,787
Short-term securities sold under agreements to repurchase 0 359 0 2,756
Advances from the FHLB:        
Short-term advances from the FHLB 0 0 0 4,776
Long-term advances from FHLB 5,672 5,675 16,892 14,123
Other long-term borrowings 3,235 3,345 9,921 10,135
Total interest expense 72,611 63,677 217,213 157,577
Net interest income 202,064 199,728 598,212 600,428
Provision for credit losses - expense (benefit):        
Loans and finance leases 16,470 10,643 41,317 47,669
Unfunded loan commitments (1,041) (128) (1,177) 488
Provision for credit losses - expense 15,245 4,396 39,017 42,128
Net interest income after provision for credit losses 186,819 195,332 559,195 558,300
Non-interest income:        
Service charges and fees on deposit accounts 9,684 9,552 29,071 28,380
Mortgage banking activities 3,199 2,821 9,500 8,493
Gain on early extinguishment of debt 0 0 0 1,605
Insurance commission income 3,003 2,790 11,296 10,384
Card and processing income 11,768 10,841 34,603 32,894
Other non-interest income 4,848 4,292 14,053 17,329
Total non-interest income 32,502 30,296 98,523 99,085
Non-interest expenses:        
Employees' compensation and benefits 59,081 56,535 176,043 167,271
Occupancy and equipment 22,424 21,781 65,656 64,064
Business promotion 4,116 4,759 12,317 12,901
Professional service fees 12,538 11,022 37,645 34,591
Taxes, other than income taxes 5,665 5,465 16,202 15,701
FDIC deposit insurance 2,164 2,143 7,582 6,419
Net gain on OREO operations (1,339) (2,153) (6,400) (6,133)
Credit and debit card processing expenses 7,095 6,779 20,453 18,637
Communications 2,170 2,219 6,528 6,427
Other non-interest expenses 9,021 8,088 26,514 24,945
Total non-interest expenses 122,935 116,638 362,540 344,823
Income before income taxes 96,386 108,990 295,178 312,562
Income tax expense 22,659 26,968 72,155 89,187
Net income 73,727 82,022 223,023 223,375
Net income attributable to common stockholders $ 73,727 $ 82,022 $ 223,023 $ 223,375
Net income per common share:        
Basic $ 0.45 $ 0.47 $ 1.35 $ 1.25
Diluted $ 0.45 $ 0.46 $ 1.35 $ 1.25
Debt Securities [Member]        
Provision for credit losses - expense (benefit):        
Debt securities $ (184) $ (6,119) $ (1,123) $ (6,029)