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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest Income        
Interest and fees on loans $ 135,674 $ 120,694 $ 268,434 $ 228,362
Interest and dividends on investments:        
Taxable interest 11,558 5,634 21,975 11,423
Interest exempt from federal income taxes 107 114 215 231
Dividends 450 782 1,054 1,287
Interest on bank deposits 2,893 4,043 4,466 4,553
Total interest income 150,682 131,267 296,144 245,856
Interest Expense        
Interest on deposits 47,004 25,901 90,724 41,419
Interest on short-term borrowings 6,339 5,193 13,104 7,594
Interest on subordinated debentures 2,264 2,254 4,851 4,468
Interest on other long-term debt 36 44 74 89
Interest on lease obligations 47 51 95 104
Total interest expense 55,690 33,443 108,848 53,674
Net Interest Income 94,992 97,824 187,296 192,182
Provision for credit losses - portfolio 7,827 2,790 12,065 140
Provision for credit losses - acquisition day 1 non-PCD 0 0 0 10,653
Net Interest Income after Provision for Credit Losses 87,165 95,034 175,231 181,389
Noninterest Income        
Net securities losses (5,535) 0 (5,535) 0
Gain (Loss) on Equity Securities 5,558 0 5,558 0
Trust income 2,821 2,532 5,548 5,018
Service charges on deposit accounts 5,546 5,324 10,929 10,242
Insurance and retail brokerage commissions 2,709 2,314 4,955 4,866
Income from bank owned life insurance 1,371 1,195 2,665 2,422
Gain on sale of mortgage loans 1,671 1,253 2,999 1,905
Gain on sale of other loans and assets 1,408 1,891 3,459 3,977
Card-related interchange income 7,137 7,372 13,827 14,201
Derivatives mark to market 0 81 12 (8)
Swap fee income 0 332 0 577
Other income 2,524 2,229 4,781 4,286
Total noninterest income 25,210 24,523 49,198 47,486
Noninterest Expense        
Salaries and employee benefits 37,320 36,735 72,644 70,999
Net occupancy expense 4,822 4,784 10,156 9,802
Furniture and equipment expense 4,278 4,284 8,758 8,522
Data processing expense 3,840 3,763 7,664 7,167
Advertising and promotion 898 1,327 2,217 2,990
Intangible amortization 1,126 1,173 2,328 2,425
Intangible amortization 1,169 1,282 2,433 2,429
Other professional fees and services 1,286 1,182 2,528 2,773
FDIC insurance 1,286 1,277 2,899 2,694
Loss on sale or write-down of assets 77 6 220 47
Litigation and operational losses 494 894 1,491 1,637
Amortization of Debt Issuance Costs 369 0 369 0
Business Combination, Integration Related Costs 0 60 (114) (8,481)
Other Noninterest Expense 8,833 9,296 17,550 17,358
Total noninterest expense 65,798 65,943 131,371 137,324
Income Before Income Taxes 46,577 53,614 93,058 91,551
Income tax provision 9,489 10,833 18,421 18,546
Net Income $ 37,088 $ 42,781 $ 74,637 $ 73,005
Average Shares Outstanding (in shares) 102,047,224 102,530,052 102,014,236 101,056,432
Average Shares Outstanding Assuming Dilution (in shares) 102,287,598 102,760,266 102,238,489 101,281,899
Per Share Data:        
Basic Earnings per Share (in dollars per share) $ 0.36 $ 0.42 $ 0.73 $ 0.72
Diluted Earnings per Share (in dollars per share) 0.36 0.42 0.73 0.72
Cash Dividends Declared per Common Share (in dollars per share) $ 0.130 $ 0.125 $ 0.255 $ 0.245