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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income:        
Loans $ 142,139 $ 116,240 $ 405,968 $ 335,162
Mortgage-backed securities 12,556 9,665 33,223 21,424
Investment securities and other 11,013 8,770 33,490 13,260
Total interest income 165,708 134,675 472,681 369,846
Interest expense:        
Deposits 20,819 7,987 49,232 21,972
Securities sold under agreements to repurchase 728 0 728 0
Advances from FHLB and other borrowings 2,374 178 5,393 555
Subordinated capital notes 0 0 0 521
Total interest expense 23,921 8,165 55,353 23,048
Net interest income 141,787 126,510 417,328 346,798
Provision for credit losses 16,430 7,120 40,919 15,362
Net interest income after provision for credit losses 125,357 119,390 376,409 331,436
Non-interest income:        
Banking service revenue 17,303 17,234 52,256 52,937
Wealth management revenue 7,691 8,173 23,005 24,300
Mortgage banking activities 5,410 4,891 14,533 15,476
Total banking and financial service revenues 30,404 30,298 89,794 92,713
Sale of securities 0 0 (1,149) 0
Early extinguishment of debt 0 0 0 42
Other non-interest income 295 322 1,028 5,681
Total non-interest income 30,699 30,620 89,673 98,436
Non-interest expense:        
Compensation and employee benefits 38,095 35,332 114,409 104,830
Occupancy, equipment and infrastructure costs 14,887 12,638 43,506 37,415
Electronic banking charges 10,662 9,965 31,260 29,473
Information technology expenses 7,106 5,270 20,712 15,602
Professional and service fees 4,810 6,441 15,193 19,224
Taxes, other than payroll and income taxes 3,407 3,324 9,944 9,897
Insurance 2,433 2,394 8,039 7,458
Loan servicing and clearing expenses 1,715 2,144 5,848 6,309
Advertising, business promotion, and strategic initiatives 2,206 1,926 6,304 5,815
Communication 1,040 982 3,229 3,230
Printing, postage, stationery and supplies 922 878 2,518 2,755
Director and investor relations 269 261 1,047 856
Foreclosed real estate and other repossessed assets (income) loss, net of expenses (27) 573 (1,554) (2,313)
Other 2,633 5,364 8,811 13,354
Total non-interest expense 90,158 87,492 269,266 253,905
Income before income taxes 65,898 62,518 196,816 175,967
Income tax expense 21,025 20,599 61,541 56,095
Net income available to common shareholders $ 44,873 $ 41,919 $ 135,275 $ 119,872
Earnings per common share:        
Basic (in dollars per share) $ 0.95 $ 0.88 $ 2.86 $ 2.49
Diluted (in dollars per share) $ 0.95 $ 0.87 $ 2.84 $ 2.47
Average common shares outstanding and equivalents (in shares) 47,392 47,926 47,605 48,594
Cash dividends per share of common stock (in dollars per share) $ 0.22 $ 0.20 $ 0.66 $ 0.50