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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income        
Interest and fees on loans $ 111,336 $ 99,844 $ 320,302 $ 284,423
Interest and dividends on investment securities:        
Taxable interest income 17,789 20,549 56,264 60,224
Non-taxable interest income 283 685 918 2,136
Other interest income 5,092 1,591 14,590 3,890
Total interest income 134,500 122,669 392,074 350,673
Interest expense        
Deposits 46,634 37,068 134,311 78,576
Federal funds purchased and securities sold under agreements to repurchase 981 1,327 3,393 3,772
Short-term borrowings 26 1,964 676 12,527
Long-term debt 0 425 300 1,331
Subordinated notes 3,181 3,103 9,467 9,300
Junior subordinated debt owed to unconsolidated trusts 1,137 991 3,185 2,849
Total interest expense 51,959 44,878 151,332 108,355
Net interest income 82,541 77,791 240,742 242,318
Provision for credit losses 2 364 7,317 1,944
Net interest income after provision for credit losses 82,539 77,427 233,425 240,374
Noninterest income        
Mortgage revenue 355 311 1,579 871
Income on bank owned life insurance 1,189 1,001 4,050 3,682
Realized net gains (losses) on the sale of mortgage servicing rights (18) 0 7,724 0
Realized net gains (losses) on securities (11) (33) (6,817) (207)
Unrealized net gains (losses) recognized on equity securities 833 (252) 911 (2,753)
Other noninterest income 4,792 3,018 10,550 8,349
Total noninterest income 35,951 31,008 104,752 90,868
Noninterest expense        
Salaries, wages, and employee benefits 44,593 39,677 130,161 119,867
Data processing 6,910 5,930 20,560 17,472
Net occupancy expense of premises 4,633 4,594 13,943 13,896
Furniture and equipment expenses 1,647 1,638 5,155 5,065
Professional fees 3,118 1,542 7,866 4,573
Amortization of intangible assets 2,548 2,555 7,586 7,953
Interchange expense 1,352 1,786 4,696 5,509
FDIC insurance 1,413 1,475 4,273 4,483
Other noninterest expense 9,712 11,748 27,992 31,735
Total noninterest expense 75,926 70,945 222,232 210,553
Income before income taxes 42,564 37,490 115,945 120,689
Income taxes 10,560 6,824 30,359 23,873
Net income $ 32,004 $ 30,666 $ 85,586 $ 96,816
Basic earnings per common share (in dollars per share) $ 0.56 $ 0.55 $ 1.52 $ 1.75
Diluted earnings per common share (in dollars per share) 0.55 0.54 1.49 1.72
Dividends declared per share of common stock (in dollars per share) $ 0.24 $ 0.24 $ 0.72 $ 0.72
Wealth management fees        
Noninterest income        
Noninterest income $ 15,378 $ 14,235 $ 46,844 $ 43,594
Fees for customer services        
Noninterest income        
Noninterest income 8,168 7,502 23,022 21,560
Payment technology solutions        
Noninterest income        
Noninterest income $ 5,265 $ 5,226 $ 16,889 $ 15,772