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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income:        
Interest and fees on loans $ 115,138 $ 88,434 $ 322,775 $ 238,907
Interest and dividends on taxable investments 18,969 23,737 61,718 71,228
Interest and dividends on nontaxable investments 3,449 3,704 10,569 9,611
Total interest income 137,556 115,875 395,062 319,746
Interest expense:        
Interest on deposits 24,555 3,855 53,431 9,111
Interest on borrowings 5,215 1,588 13,498 2,113
Interest on subordinated notes payable 0 38 38 115
Total interest expense 29,770 5,481 66,967 11,339
Net interest income 107,786 110,394 328,095 308,407
Provision for credit losses 2,878 5,061 7,130 12,005
Net interest income after provision for credit losses 104,908 105,333 320,965 296,402
Noninterest revenues:        
Deposit service fees 16,007 17,452 46,839 49,745
Mortgage banking 113 171 399 595
Other banking services 1,471 912 4,535 2,521
Employee benefit services 29,997 27,884 87,946 86,385
Insurance services 12,113 11,332 35,495 31,521
Wealth management services 7,934 7,502 24,037 24,276
Loss on sales of investment securities 0 0 52,329 0
Gain on debt extinguishment 0 0 242 0
Unrealized loss on equity securities (49) (4) (99) (24)
Total noninterest revenues 67,586 65,249 147,065 195,019
Noninterest expenses:        
Salaries and employee benefits 70,687 66,190 210,208 193,236
Data processing and communications 15,480 14,184 42,900 40,454
Occupancy and equipment 10,358 10,364 31,835 31,740
Amortization of intangible assets 3,576 3,837 10,948 11,420
Legal and professional fees 3,826 3,194 12,129 10,196
Business development and marketing 4,628 3,616 12,096 9,975
Acquisition expenses 0 409 56 4,668
Acquisition-related contingent consideration adjustment 80 0 1,080 400
Other expenses 7,869 6,391 22,342 16,327
Total noninterest expenses 116,504 108,185 343,594 318,416
Income before income taxes 55,990 62,397 124,436 173,005
Income taxes 11,861 13,706 26,218 37,454
Net income $ 44,129 $ 48,691 $ 98,218 $ 135,551
Basic earnings per share(in dollar per share) $ 0.82 $ 0.90 $ 1.82 $ 2.51
Diluted earnings per share(in dollar per share) $ 0.82 $ 0.90 $ 1.82 $ 2.49