XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Earnings and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Loans and leases, including fees $ 110,990 $ 92,770 $ 219,384 $ 182,231
Investment securities:        
Investment securities available-for-sale 19,356 17,042 38,952 29,874
Investment securities held-to-maturity 13,740 11,714 27,696 22,377
Total investment income 33,096 28,756 66,648 52,251
Dividends from FHLB stock 483 273 832 644
Interest-earning deposits with other institutions 4,670 1,463 5,161 2,236
Total interest income 149,239 123,262 292,025 237,362
Interest expense:        
Deposits 10,765 1,201 16,130 2,328
Borrowings and customer repurchase agreements 18,939 121 30,632 254
Total interest expense 29,704 1,322 46,762 2,582
Net interest income before provision for credit losses 119,535 121,940 245,263 234,780
Provision for credit losses 500 3,600 2,000 6,100
Net interest income after provision for credit losses 119,035 118,340 243,263 228,680
Noninterest income:        
BOLI income 2,097 603 3,286 1,952
Gain on sale of building, net 0 2,717 0 2,717
Other 1,916 2,745 5,294 4,363
Total noninterest income 12,656 14,670 25,858 25,934
Noninterest expense:        
Salaries and employee benefits 33,548 31,553 68,795 64,209
Occupancy and equipment 5,517 5,567 10,967 11,138
Professional services 2,562 2,305 4,258 4,350
Computer software expense 3,316 3,103 6,724 6,898
Marketing and promotion 1,321 1,638 3,036 3,096
Provision for unfunded loan commitments 400 0 900 0
Amortization of intangible assets 1,719 1,998 3,439 0
Acquisition related expenses 0 375 0 6,013
Other 5,634 4,332 10,779 9,409
Total noninterest expense 54,017 50,871 108,898 109,109
Earnings before income taxes 77,674 82,139 160,223 145,505
Income taxes 21,904 23,081 45,183 40,887
Net earnings 55,770 59,058 115,040 104,618
Other comprehensive income (loss):        
Unrealized gain (loss) on securities arising during the period, before tax (34,464) (142,790) 6,238 (344,809)
Less: Income tax (expense) benefit related to items of other comprehensive income 7,869 42,213 (4,164) (101,938)
Unrealized gain (loss) on derivatives designated as hedging instruments arising during the period 7,846 0 7,846 0
Other comprehensive income (loss), net of tax (18,749) (100,577) 9,920 (242,871)
Comprehensive income (loss) $ 37,021 $ (41,519) $ 124,960 $ (138,253)
Basic earnings per common share $ 0.4 $ 0.42 $ 0.83 $ 0.74
Diluted earnings per common share $ 0.4 $ 0.42 $ 0.82 $ 0.74
Service Charges on Deposit Accounts [Member]        
Noninterest income:        
Revenue from contract with customer, including assessed tax $ 4,838 $ 5,333 $ 10,182 $ 10,392
Trust and Investment Services [Member]        
Noninterest income:        
Revenue from contract with customer, including assessed tax 3,315 2,962 6,229 5,784
Bankcard Services [Member]        
Noninterest income:        
Revenue from contract with customer, including assessed tax $ 490 $ 310 $ 867 $ 726