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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest Income        
Interest and fees on loans $ 110,425 $ 102,963 $ 220,181 $ 202,343
Interest on investment securities:        
Taxable interest income 11,291 13,063 24,019 26,479
Tax-exempt interest income 1,117 1,120 2,234 2,250
Other, principally overnight investments 5,942 4,015 8,913 7,263
Total interest income 128,775 121,161 255,347 238,335
Interest Expense        
Interest on deposits 44,744 27,328 83,879 46,246
Interest on borrowings 2,963 6,848 11,168 12,618
Total interest expense 47,707 34,176 95,047 58,864
Net interest income 81,068 86,985 160,300 179,471
Provision for credit losses 541 2,361 1,741 14,863
Net interest income after provision for credit losses 80,527 84,624 158,559 164,608
Noninterest Income        
Service charges on deposit accounts 4,139 4,114 8,007 8,008
Other service charges and fees 5,361 5,650 10,973 11,570
Presold mortgage loan fees and gains on sale 588 557 926 963
Commissions from sales of financial products 1,377 1,413 2,697 2,719
SBA loan sale gains 1,336 696 2,231 951
Bank-owned life insurance income 1,179 1,066 2,343 2,112
Securities losses, net (186) 0 (1,161) 0
Other income 854 739 1,570 1,448
Total noninterest income 14,648 14,235 27,586 27,771
Noninterest Expense        
Salaries 27,809 28,676 55,451 57,997
Employee benefits 6,703 6,165 12,972 12,558
Total personnel expense 34,512 34,841 68,423 70,555
Occupancy and equipment expense 4,850 4,972 10,438 10,039
Merger and acquisition expenses 0 1,334 0 13,516
Intangibles amortization 1,669 2,049 3,428 4,194
Other operating expenses 17,260 18,397 35,189 37,464
Total noninterest expenses 58,291 61,593 117,478 135,768
Income before income taxes 36,884 37,266 68,667 56,611
Income tax expense 8,172 7,863 14,683 12,047
Net income $ 28,712 $ 29,403 $ 53,984 $ 44,564
Earnings per common share:        
Basic (in dollars per share) $ 0.70 $ 0.72 $ 1.31 $ 1.09
Diluted (in dollars per share) $ 0.70 $ 0.71 $ 1.31 $ 1.08
Weighted average common shares outstanding:        
Basic (in shares) 40,879,684 40,721,840 40,861,775 40,665,172
Diluted (in shares) 41,262,091 41,129,100 41,256,081 41,123,869