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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income        
Interest and fees on loans $ 99,844 $ 76,081 $ 284,423 $ 202,530
Interest and dividends on investment securities:        
Taxable interest income 20,549 17,436 60,224 47,370
Non-taxable interest income 685 813 2,136 2,482
Other interest income 1,591 1,085 3,890 1,720
Total interest income 122,669 95,415 350,673 254,102
Interest expense        
Deposits 37,068 3,565 78,576 7,835
Federal funds purchased and securities sold under agreements to repurchase 1,327 459 3,772 665
Short-term borrowings 1,964 190 12,527 426
Long-term debt 425 372 1,331 859
Senior notes 0 0 0 637
Subordinated notes 3,103 3,738 9,300 9,243
Junior subordinated debt owed to unconsolidated trusts 991 786 2,849 2,148
Total interest expense 44,878 9,110 108,355 21,813
Net interest income 77,791 86,305 242,318 232,289
Provision for credit losses 364 2,364 1,944 3,764
Net interest income after provision for credit losses 77,427 83,941 240,374 228,525
Noninterest income        
Mortgage revenue 311 438 871 1,697
Income on bank owned life insurance 1,001 958 3,682 2,716
Realized net gains (losses) on securities (33) (74) (207) 52
Unrealized net gains (losses) recognized on equity securities (252) 78 (2,753) (2,376)
Other income 3,018 4,318 8,349 12,046
Total noninterest income 31,008 30,933 90,868 97,724
Noninterest expense        
Salaries, wages, and employee benefits 39,677 39,762 119,867 117,226
Data processing 5,930 5,447 17,472 15,800
Net occupancy expense of premises 4,594 4,705 13,896 14,492
Furniture and equipment expenses 1,638 1,799 5,065 5,874
Professional fees 1,542 1,579 4,573 4,693
Amortization of intangible assets 2,555 2,871 7,953 8,833
Interchange expense 1,786 1,574 5,509 4,606
FDIC insurance 1,475 882 4,483 3,108
Other expense 11,748 12,117 31,735 35,572
Total noninterest expense 70,945 70,736 210,553 210,204
Income before income taxes 37,490 44,138 120,689 116,045
Income taxes 6,824 8,477 23,873 22,121
Net income $ 30,666 $ 35,661 $ 96,816 $ 93,924
Basic earnings per common share (in dollars per share) $ 0.55 $ 0.64 $ 1.75 $ 1.70
Diluted earnings per common share (in dollars per share) 0.54 0.64 1.72 1.67
Dividends declared per share of common stock (in dollars per share) $ 0.24 $ 0.23 $ 0.72 $ 0.69
Wealth management fees        
Noninterest income        
Noninterest income $ 14,235 $ 12,508 $ 43,594 $ 42,422
Fees for customer services        
Noninterest income        
Noninterest income 7,502 7,627 21,560 26,122
Payment technology solutions        
Noninterest income        
Noninterest income $ 5,226 $ 5,080 $ 15,772 $ 15,045