XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Earnings and Comprehensive Income - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest income:      
Loans and leases, including fees $ 448,295,000 $ 389,192,000 $ 356,594,000
Investment securities:      
Investment securities available-for-sale 83,563,000 68,508,000 38,273,000
Investment securities held-to-maturity 54,750,000 49,048,000 22,175,000
Total investment income 138,313,000 117,556,000 60,448,000
Dividends from FHLB stock 1,861,000 1,207,000 1,019,000
Interest-earning deposits with other institutions 17,861,000 6,713,000 2,569,000
Total interest income 606,330,000 514,668,000 420,630,000
Interest expense:      
Deposits 51,535,000 6,830,000 5,346,000
Borrowings and customer repurchase agreements 66,805,000 2,325,000 548,000
Junior subordinated debentures 0 0 186,000
Total interest expense 118,340,000 9,155,000 6,080,000
Net interest income before provision for (recapture of) credit losses 487,990,000 505,513,000 414,550,000
Provision for (recapture of) credit losses 2,000,000 10,600,000 (25,500,000)
Net interest income after provision for (recapture of) credit losses 485,990,000 494,913,000 440,050,000
Noninterest income:      
Write-down of BOLI 12,751,000 5,356,000 8,500,000
Gain on OREO, net 0 0 1,177,000
Gain on sale of building, net 0 2,717,000 189,000
Other 12,177,000 7,546,000 7,007,000
Total noninterest income 59,330,000 49,989,000 47,385,000
Noninterest expense:      
Salaries and employee benefits 139,191,000 131,596,000 117,871,000
Occupancy and equipment 22,109,000 22,737,000 19,756,000
Professional services 9,082,000 9,362,000 7,967,000
Computer software expense 14,051,000 13,503,000 11,584,000
Marketing and promotion 6,756,000 6,296,000 4,623,000
(Recapture of) provision for unfunded loan commitments (500,000) 0 (1,000,000)
Amortization of intangible assets 6,452,000 7,566,000 8,240,000
Acquisition related expenses 0 6,013,000 962,000
Other 32,745,000 19,482,000 19,784,000
Total noninterest expense 229,886,000 216,555,000 189,787,000
Earnings before income taxes 315,434,000 328,347,000 297,648,000
Income taxes 93,999,000 92,922,000 85,127,000
Net earnings 221,435,000 235,425,000 212,521,000
Other comprehensive income (loss):      
Unrealized gain (loss) on securities arising during the period, before tax 44,306,000 (498,078,000) (55,819,000)
Less: Income tax (expense) benefit related to items of other comprehensive income (13,079,000) 147,250,000 16,502,000
Other comprehensive income (loss), net of tax 31,227,000 (350,828,000) (39,317,000)
Comprehensive income (loss) $ 252,662,000 $ (115,403,000) $ 173,204,000
Basic earnings per common share $ 1.59 $ 1.67 $ 1.57
Diluted earnings per common share $ 1.59 $ 1.67 $ 1.56
Service Charges on Deposit Accounts [Member]      
Noninterest income:      
Revenue from contract with customer, including assessed tax $ 20,219,000 $ 21,382,000 $ 17,152,000
Trust and Investment Services [Member]      
Noninterest income:      
Revenue from contract with customer, including assessed tax 12,556,000 11,518,000 11,571,000
Bankcard Services [Member]      
Noninterest income:      
Revenue from contract with customer, including assessed tax $ 1,627,000 $ 1,470,000 $ 1,789,000