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Condensed Consolidated Statements of Earnings and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest income:        
Loans and leases, including fees $ 100,077 $ 88,390 $ 282,308 $ 271,911
Investment securities:        
Investment securities available-for-sale 18,543 9,813 48,417 28,382
Investment securities held-to-maturity 12,834 5,188 35,211 14,258
Total investment income 31,377 15,001 83,628 42,640
Dividends from FHLB stock 258 258 902 758
Interest-earning deposits with other institutions 3,476 898 5,712 1,790
Total interest income 135,188 104,547 372,550 317,099
Interest expense:        
Deposits 1,728 1,113 4,056 4,350
Borrowings and customer repurchase agreements 122 135 376 408
Junior subordinated debentures 0 0 0 186
Total interest expense 1,850 1,248 4,432 4,944
Net interest income before (recapture of) provision for credit losses 133,338 103,299 368,118 312,155
Provision for (recapture of) credit losses 2,000 (4,000) 8,100 (25,500)
Net interest income after provision for (recapture of) credit losses 131,338 107,299 360,018 337,655
Noninterest income:        
BOLI income 1,987 1,229 3,939 7,093
Gain on OREO, net 0 0 0 477
Gain on sale of building, net 0 0 2,717 0
Other 1,127 1,581 5,490 4,942
Total noninterest income 11,590 10,483 37,524 35,000
Noninterest expense:        
Salaries and employee benefits 33,233 29,741 97,442 88,283
Occupancy and equipment 5,779 5,122 16,917 14,934
Professional services 2,438 1,626 6,788 6,042
Computer software expense 3,243 3,020 10,141 8,521
Marketing and promotion 1,488 857 4,584 3,381
Amortization of intangible assets 1,846 2,014 5,842 6,348
(Recapture of) provision for unfunded loan commitments 0 0 0 (1,000)
Acquisition related expenses 0 809 6,013 809
Other 5,000 4,910 14,409 14,489
Total noninterest expense 53,027 48,099 162,136 141,807
Earnings before income taxes 89,901 69,683 235,406 230,848
Income taxes 25,262 19,930 66,149 66,023
Net earnings 64,639 49,753 169,257 164,825
Other comprehensive (loss) income:        
Unrealized (loss) gain on securities arising during the period, before tax (194,016) (14,443) (538,825) (45,816)
Less: Income tax benefit (expense) related to items of other comprehensive (loss) income 57,358 4,270 159,296 13,545
Other comprehensive (loss) income, net of tax (136,658) (10,173) (379,529) (32,271)
Comprehensive (loss) income $ (72,019) $ 39,580 $ (210,272) $ 132,554
Basic earnings per common share $ 0.46 $ 0.37 $ 1.20 $ 1.21
Diluted earnings per common share $ 0.46 $ 0.37 $ 1.20 $ 1.21
Service Charges on Deposit Accounts [Member]        
Noninterest income:        
Revenue from contract with customer, including assessed tax $ 5,233 $ 4,513 $ 15,625 $ 12,667
Trust and Investment Services [Member]        
Noninterest income:        
Revenue from contract with customer, including assessed tax 2,867 2,681 8,651 8,459
Bankcard Services [Member]        
Noninterest income:        
Revenue from contract with customer, including assessed tax $ 376 $ 479 $ 1,102 $ 1,362