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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income:        
Loans, including fees $ 78,234 $ 56,750 $ 219,329 $ 152,105
Federal funds sold and interest bearing due from banks 1,640 2,450 4,885 3,845
Mortgage loans held for sale 55 103 173 177
Federal Home Loan Bank stock 499 172 939 328
Investment securities:        
Taxable 8,064 7,503 24,809 18,988
Tax-exempt 433 432 1,320 1,059
Total interest income 88,925 67,410 251,455 176,502
Interest expense:        
Deposits 21,360 4,449 51,940 7,390
Securities sold under agreements to repurchase 597 176 1,429 250
Federal funds purchased and other short-term borrowings 157 50 504 72
Federal Home Loan Bank advances 4,917 0 10,613 0
Subordinated debentures 579 359 1,653 670
Total interest expense 27,610 5,034 66,139 8,382
Net interest income 61,315 62,376 185,316 168,120
Provision for credit losses 2,775 4,803 7,750 6,882
Net interest income after provision expense 58,540 57,573 177,566 161,238
Non-interest income:        
Mortgage banking income [1] 814 703 2,882 3,001
Bank owned life insurance [1] 569 516 1,677 1,052
Gain on sale of premises and equipment [1] 302 3,074 75 3,046
Total non-interest income 22,896 24,864 67,803 66,007
Non-interest expenses:        
Compensation 23,379 23,069 67,382 63,242
Employee benefits 4,508 4,179 14,622 13,147
Net occupancy and equipment 3,821 3,767 11,234 10,455
Technology and communication 4,236 3,747 12,706 11,150
Debit and credit card processing 1,637 1,437 4,762 4,439
Marketing and business development 1,357 1,244 4,236 3,461
Postage, printing and supplies 938 903 2,701 2,461
Legal and professional 1,049 774 2,665 2,451
FDIC insurance 937 847 2,851 2,028
Amortization of investments in tax credit partnerships 323 88 970 265
Capital and deposit based taxes 629 722 1,875 1,822
Merger expenses 0 0 0 19,500
Intangible amortization 1,167 1,610 3,519 3,934
Other 2,721 2,486 8,293 7,490
Total non-interest expenses 46,702 44,873 137,816 145,845
Income before income tax expense 34,734 37,564 107,553 81,400
Income tax expense 7,642 9,024 23,749 18,016
Net income 27,092 28,540 83,804 63,384
Less income attributed to non-controlling interest 0 85 0 229
Net income available to stockholders $ 27,092 $ 28,455 $ 83,804 $ 63,155
Net income per common share - basic (in dollars per share) $ 0.93 $ 0.98 $ 2.87 $ 2.22
Net income per common share - diluted (in dollars per share) $ 0.92 $ 0.97 $ 2.86 $ 2.2
Weighted average outstanding shares        
Basic (in shares) 29,223 29,144 29,208 28,509
Diluted (in shares) 29,336 29,404 29,347 28,752
Fiduciary and Trust [Member]        
Non-interest income:        
Non-interest income $ 10,030 $ 9,152 $ 29,703 $ 26,890
Deposit Account [Member]        
Non-interest income:        
Non-interest income 2,272 2,179 6,622 6,103
Credit and Debit Card [Member]        
Non-interest income:        
Non-interest income 4,870 4,710 14,064 13,577
Treasury Management [Member]        
Non-interest income:        
Non-interest income 2,635 2,221 7,502 6,312
Investment Advisory, Management and Administrative Service [Member]        
Non-interest income:        
Non-interest income 791 892 2,345 2,230
Product and Service, Other [Member]        
Non-interest income:        
Non-interest income $ 613 $ 1,417 $ 2,933 $ 3,796
[1] Outside of the scope of ASC 606.