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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income        
Interest and fees on loans $ 94,804 $ 65,567 $ 184,579 $ 126,449
Interest and dividends on investment securities:        
Taxable interest income 20,076 15,840 39,675 29,934
Non-taxable interest income 708 831 1,451 1,669
Other interest income 1,311 358 2,299 635
Total interest income 116,899 82,596 228,004 158,687
Interest expense        
Deposits 26,768 2,146 41,508 4,270
Federal funds purchased and securities sold under agreements to repurchase 1,223 147 2,445 206
Short-term borrowings 5,741 147 10,563 236
Long-term debt 452 261 906 487
Senior notes 0 237 0 637
Subordinated notes 3,100 3,022 6,197 5,505
Junior subordinated debt owed to unconsolidated trusts 945 708 1,858 1,362
Total interest expense 38,229 6,668 63,477 12,703
Net interest income 78,670 75,928 164,527 145,984
Provision for credit losses 627 1,653 1,580 1,400
Net interest income after provision for credit losses 78,043 74,275 162,947 144,584
Noninterest income        
Mortgage revenue 272 284 560 1,259
Income on bank owned life insurance 1,029 874 2,681 1,758
Realized net gains (losses) on securities (178) 20 (174) 126
Unrealized net gains (losses) recognized on equity securities (1,881) (1,734) (2,501) (2,454)
Other income 1,738 2,964 5,331 7,728
Total noninterest income 28,012 31,019 59,860 66,791
Noninterest expense        
Salaries, wages, and employee benefits 39,859 38,110 80,190 77,464
Data processing 5,902 5,375 11,542 10,353
Net occupancy expense of premises 4,540 4,720 9,302 9,787
Furniture and equipment expenses 1,681 2,045 3,427 4,075
Professional fees 973 1,607 3,031 3,114
Amortization of intangible assets 2,669 2,951 5,398 5,962
Interchange expense 1,870 1,487 3,723 3,032
FDIC insurance 1,506 1,153 3,008 2,226
Other expense 10,205 11,644 19,987 23,455
Total noninterest expense 69,205 69,092 139,608 139,468
Income before income taxes 36,850 36,202 83,199 71,907
Income taxes 7,486 6,378 17,049 13,644
Net income $ 29,364 $ 29,824 $ 66,150 $ 58,263
Basic earnings per common share (in dollars per share) $ 0.53 $ 0.54 $ 1.19 $ 1.05
Diluted earnings per common share (in dollars per share) 0.52 0.53 1.18 1.04
Dividends declared per share of common stock (in dollars per share) $ 0.24 $ 0.23 $ 0.48 $ 0.46
Wealth management fees        
Noninterest income        
Noninterest income $ 14,562 $ 14,135 $ 29,359 $ 29,914
Fees for customer services        
Noninterest income        
Noninterest income 7,239 9,588 14,058 18,495
Payment technology solutions        
Noninterest income        
Noninterest income $ 5,231 $ 4,888 $ 10,546 $ 9,965