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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
INTEREST INCOME        
Interest and fees on loans $ 50,957 $ 52,739 $ 154,325 $ 160,000
Interest on investment securities:        
Taxable interest income 8,383 4,958 22,085 15,203
Tax-exempt interest income 686 189 1,483 470
Other, principally overnight investments 528 802 1,809 2,688
Total interest income 60,554 58,688 179,702 178,361
INTEREST EXPENSE        
Savings, checking and money market accounts 903 1,440 3,353 5,132
Time deposits of $100,000 or more 558 1,747 2,097 6,994
Other time deposits 165 346 563 1,254
Borrowings 375 422 1,139 2,865
Total interest expense 2,001 3,955 7,152 16,245
Net interest income 58,553 54,733 172,550 162,116
Provision (reversal) for loan losses (1,400) 6,120 (1,400) 31,008
Provision for unfunded commitments 1,049 0 2,988 0
Total provision for credit losses (351) 6,120 1,588 31,008
Net interest income after provision for credit losses 58,904 48,613 170,962 131,108
NONINTEREST INCOME        
Service charges on deposit accounts 3,209 2,567 8,766 8,193
Other service charges, commissions and fees 6,464 6,190 18,482 14,883
Fees from presold mortgage loans 2,096 4,864 8,914 9,725
Commissions from sales of insurance and financial products 1,198 2,357 5,854 6,515
SBA consulting fees 1,128 1,956 6,079 6,722
SBA loan sale gains 1,655 2,929 6,981 5,541
Bank-owned life insurance income 711 633 1,945 1,904
Securities gains (losses), net 0 0 0 8,024
Other gains (losses), net 50 (44) 1,533 (157)
Total noninterest income 16,511 21,452 58,554 61,350
NONINTEREST EXPENSES        
Salaries expense 20,651 22,127 61,969 62,843
Employee benefits expense 4,447 3,918 13,105 12,312
Total personnel expense 25,098 26,045 75,074 75,155
Occupancy expense 2,618 2,856 8,190 8,538
Equipment related expenses 1,125 1,049 3,223 3,214
Merger and acquisition expenses 254 0 665 0
Intangibles amortization expense 695 928 2,437 2,961
Foreclosed property losses, net 23 90 7 284
Other operating expenses 11,004 9,471 32,271 29,264
Total noninterest expenses 40,817 40,439 121,867 119,416
Income before income taxes 34,598 29,626 107,649 73,042
Income tax expense 6,955 6,329 22,527 15,213
Net income $ 27,643 $ 23,297 $ 85,122 $ 57,829
Earnings per common share:        
Basic (in dollars per share) $ 0.97 $ 0.81 $ 2.99 $ 1.99
Diluted (in dollars per share) 0.97 0.81 2.99 1.99
Dividends declared per common share (in dollars per share) $ 0.20 $ 0.18 $ 0.60 $ 0.54
Weighted average common shares outstanding:        
Basic (in shares) 28,385,912 28,857,111 28,358,393 28,962,576
Diluted (in shares) 28,515,328 28,940,018 28,514,405 29,102,953