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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income:        
Interest and fees on loans $ 133,159 $ 107,275 $ 260,657 $ 207,637
Interest and dividends on taxable investments 20,779 20,811 42,681 42,749
Interest and dividends on nontaxable investments 3,100 3,538 6,359 7,120
Total interest income 157,038 131,624 309,697 257,506
Interest expense:        
Interest on deposits 40,389 18,948 77,174 28,876
Interest on borrowings 7,240 3,397 16,124 8,321
Total interest expense 47,629 22,345 93,298 37,197
Net interest income 109,409 109,279 216,399 220,309
Provision for credit losses 2,708 752 8,856 4,252
Net interest income after provision for credit losses 106,701 108,527 207,543 216,057
Noninterest revenues:        
Deposit service fees 14,171 13,685 28,422 26,581
Mortgage banking 2,275 11 2,620 286
Other banking services 3,193 4,055 6,849 7,315
Employee benefit services 32,118 28,565 63,816 57,949
Insurance services 13,307 11,860 24,416 23,382
Wealth management services 8,691 7,858 17,901 16,103
Loss on sales of investment securities (232) 0 (232) (52,329)
Gain on debt extinguishment 0 0 0 242
Unrealized gain (loss) on equity securities 867 (50) 883 (50)
Total noninterest revenues 74,390 65,984 144,675 79,479
Noninterest expenses:        
Salaries and employee benefits 73,447 68,034 146,510 139,521
Data processing and communications 15,274 14,291 29,622 27,420
Occupancy and equipment 10,715 10,453 22,077 21,477
Amortization of intangible assets 3,877 3,705 7,453 7,372
Legal and professional fees 3,459 3,102 7,800 8,303
Business development and marketing 4,139 4,567 7,184 7,468
Acquisition-related contingent consideration adjustment 0 1,000 0 1,000
Litigation accrual 0 0 119 0
Acquisition expenses 104 (1) 139 56
Other expenses 7,984 7,887 16,179 14,473
Total noninterest expenses 118,999 113,038 237,083 227,090
Income before income taxes 62,092 61,473 115,135 68,446
Income taxes 14,177 13,182 26,348 14,357
Net income $ 47,915 $ 48,291 $ 88,787 $ 54,089
Basic earnings per share $ 0.91 $ 0.90 $ 1.67 $ 1.00
Diluted earnings per share $ 0.91 $ 0.89 $ 1.67 $ 1.00