XML 11 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income:        
Loans and leases, including fees $ 114,200 $ 110,990 $ 230,549 $ 219,384
Investment securities:        
Investment securities available-for-sale 21,225 19,356 42,671 38,952
Investment securities held-to-maturity 13,445 13,740 26,847 27,696
Total investment income 34,670 33,096 69,518 66,648
Dividends from FHLB stock 377 483 796 832
Interest-earning deposits with other institutions 9,825 4,670 15,898 5,161
Total interest income 159,072 149,239 316,761 292,025
Interest expense:        
Deposits 25,979 10,765 47,345 16,130
Borrowings and customer repurchase agreements 22,244 18,939 46,106 30,632
Total interest expense 48,223 29,704 93,451 46,762
Net interest income before provision for credit losses 110,849 119,535 223,310 245,263
Provision for credit losses 0 500 0 2,000
Net interest income after provision for credit losses 110,849 119,035 223,310 243,263
Noninterest income:        
BOLI income 2,942 2,097 6,535 3,286
Other 2,567 1,916 4,442 5,294
Total noninterest income 14,424 12,656 28,537 25,858
Noninterest expense:        
Salaries and employee benefits 35,426 33,548 71,827 68,795
Occupancy and equipment 5,772 5,517 11,337 10,967
Professional services 2,726 2,562 4,981 4,258
Computer software expense 3,949 3,316 7,474 6,724
Marketing and promotion 1,956 1,321 3,586 3,036
(Recapture of) provision for unfunded loan commitments (500) 400 (500) 900
Amortization of intangible assets 1,437 1,719 2,875 3,439
Other 5,731 5,634 14,688 10,779
Total noninterest expense 56,497 54,017 116,268 108,898
Earnings before income taxes 68,776 77,674 135,579 160,223
Income taxes 18,741 21,904 36,945 45,183
Net earnings 50,035 55,770 98,634 115,040
Other comprehensive income (loss):        
Unrealized gain (loss) on securities arising during the period, before tax 1,513 (23,335) (15,560) 17,367
Less: Income tax (expense) benefit related to items of other comprehensive income (556) 4,586 4,801 (7,447)
Other comprehensive income (loss), net of tax 957 (18,749) (10,759) 9,920
Comprehensive income (loss) $ 50,992 $ 37,021 $ 87,875 $ 124,960
Basic earnings per common share $ 0.36 $ 0.4 $ 0.71 $ 0.83
Diluted earnings per common share $ 0.36 $ 0.4 $ 0.71 $ 0.82
Service Charges on Deposit Accounts [Member]        
Noninterest income:        
Revenue from contract with customer, including assessed tax $ 5,117 $ 4,838 $ 10,153 $ 10,182
Trust and Investment Services [Member]        
Noninterest income:        
Revenue from contract with customer, including assessed tax 3,428 3,315 6,652 6,229
Bankcard Services [Member]        
Noninterest income:        
Revenue from contract with customer, including assessed tax $ 370 $ 490 $ 755 $ 867