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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income:        
Loans $ 154,410 $ 142,139 $ 458,261 $ 405,968
Mortgage-backed securities 23,935 12,556 64,622 33,223
Investment securities and other 10,685 11,013 37,231 33,490
Total interest income 189,030 165,708 560,114 472,681
Interest expense:        
Deposits 38,344 20,819 112,948 49,232
Securities sold under agreements to repurchase 0 728 0 728
Advances from FHLB and other borrowings 2,811 2,374 7,864 5,393
Total interest expense 41,155 23,921 120,812 55,353
Net interest income 147,875 141,787 439,302 417,328
Provision for credit losses 21,359 16,430 52,061 40,919
Net interest income after provision for credit losses 126,516 125,357 387,241 376,409
Non-interest income:        
Banking service revenue 15,554 17,303 51,594 52,256
Wealth management revenue 8,449 7,691 24,996 23,005
Mortgage banking activities 2,268 5,410 11,825 14,533
Total banking and financial service revenues 26,271 30,404 88,415 89,794
Net loss on sale of securities 0 0 (7) (1,149)
Other non-interest income 597 295 1,284 1,028
Total non-interest income 26,868 30,699 89,692 89,673
Non-interest expense:        
Compensation and employee benefits 38,468 38,095 116,751 114,409
Occupancy, equipment and infrastructure costs 15,124 14,887 43,839 43,506
Electronic banking charges 9,237 10,662 31,289 31,260
Information technology expenses 6,899 7,106 20,067 20,712
Professional and service fees 4,976 4,810 14,097 15,193
Taxes, other than payroll and income taxes 3,742 3,407 10,209 9,944
Insurance 2,821 2,433 8,615 8,039
Loan servicing and clearing expenses 1,806 1,715 5,805 5,848
Advertising, business promotion, and strategic initiatives 2,469 2,206 7,293 6,304
Communication 1,068 1,040 3,368 3,229
Printing, postage, stationery and supplies 1,046 922 2,944 2,518
Foreclosed real estate and other repossessed assets expenses, net of (income) 1,272 (27) 1,209 (1,554)
Other 2,672 2,902 10,486 9,858
Total non-interest expense 91,600 90,158 275,972 269,266
Income before income taxes 61,784 65,898 200,961 196,816
Income tax expense 14,784 21,025 53,138 61,541
Net income available to common shareholders $ 47,000 $ 44,873 $ 147,823 $ 135,275
Earnings per common share:        
Basic (in dollars per share) $ 1.01 $ 0.95 $ 3.15 $ 2.86
Diluted (in dollars per share) $ 1.00 $ 0.95 $ 3.14 $ 2.84
Average common shares outstanding and equivalents (in shares) 46,846 47,392 47,111 47,605
Cash dividends per share of common stock (in dollars per share) $ 0.25 $ 0.22 $ 0.75 $ 0.66