XML 25 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income        
Interest and fees on loans $ 200,597 $ 187,145 $ 591,097 $ 537,830
Interest Income, Securities, Operating, Taxable 14,064 14,817 42,287 45,707
Nontaxable interest and dividends on securities 1 1 4 4
Interest on loans held for sale 227 60 530 133
Interest on federal funds sold and short-term investments 1,635 905 2,515 4,882
Total interest and dividend income 216,524 202,928 636,433 588,556
Interest expense        
Interest on deposits 66,985 40,713 182,774 95,297
Interest on borrowings 7,836 12,335 36,591 31,835
Interest Expense, Operating, Total 74,821 53,048 219,365 127,132
Net interest income 141,703 149,880 417,068 461,424
Provision for credit losses 19,500 5,500 28,750 17,750
Net interest income after provision for credit losses 122,203 144,380 388,318 443,674
Noninterest income        
Deposit account fees 6,779 5,936 19,339 17,360
Interchange and ATM fees 4,970 4,808 14,175 13,470
Investment Banking, Advisory, Brokerage, and Underwriting Fees and Commissions 11,033 10,246 31,961 30,373
Mortgage banking income 972 739 3,088 1,717
Bank Owned Life Insurance Income 2,006 1,983 5,934 5,777
Gain Realized on Life Insurance Policies 0 (1,924) (263) (2,111)
Loan level derivative income 1,125 842 1,678 2,525
Other noninterest income 6,664 7,065 19,384 19,209
Total noninterest income 33,549 33,543 95,822 92,542
Noninterest expenses        
Salaries and employee benefits 60,108 54,797 174,444 165,747
Occupancy and equipment expenses 12,734 12,321 38,673 37,528
Data processing & facilities management 2,510 2,404 7,398 7,461
Professional Fees 1,429 2,753 4,854 6,765
Software Maintenance 4,736 3,324 13,305 9,407
Debit card expense 614 2,319 4,694 6,707
Amortization of Intangible Assets 1,460 1,712 4,488 5,243
FDIC assessment 2,628 2,727 8,304 8,011
Other noninterest expenses 14,224 15,425 43,784 45,129
Total noninterest expenses 100,443 97,782 299,944 291,998
Income before income taxes 55,309 80,141 184,196 244,218
Current Federal, State and Local, Tax Expense (Benefit) 12,362 19,333 42,149 59,519
Net income $ 42,947 $ 60,808 $ 142,047 $ 184,699
Basic earnings per share (in dollars per share) $ 1.01 $ 1.38 $ 3.34 $ 4.16
Diluted earnings per share (in dollars per share) $ 1.01 $ 1.38 $ 3.34 $ 4.16
Weighted average common shares (basic) (in shares) 42,481,441 44,135,487 42,501,199 44,419,731
Common shares equivalents (in shares) 11,622 11,417 9,602 12,851
Weighted average common shares (diluted) (in shares)   44,146,904 42,510,801 44,432,582
Cash dividends declared per common share (in dollars per share)     $ 1.71  
Retained Earnings [Member]        
Noninterest expenses        
Weighted average common shares (diluted) (in shares) 42,493,063      
Cash dividends declared per common share (in dollars per share)       $ 1.65
Dividend Paid        
Noninterest expenses        
Common Stock, Dividends, Per Share, Cash Paid   $ 0.55    
Dividend Declared        
Noninterest expenses        
Cash dividends declared per common share (in dollars per share) $ 0.57      
Retained Earnings [Member]        
Noninterest expenses        
Net income $ 42,947 $ 60,808 $ 142,047 $ 184,699