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Condensed 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 $ 137,555 $ 129,373 $ 405,989 $ 357,735
Interest and dividends on investments:        
Taxable interest 12,381 6,229 34,356 17,652
Interest exempt from federal income taxes 105 114 320 345
Dividends 444 823 1,498 2,110
Interest on bank deposits 3,838 3,346 8,304 7,899
Total interest income 154,323 139,885 450,467 385,741
Interest Expense        
Interest on deposits 49,663 32,685 140,387 74,104
Interest on short-term borrowings 6,279 6,643 19,383 14,237
Interest on subordinated debentures 1,786 2,707 6,637 7,175
Interest on other long-term debt 35 41 109 130
Interest on lease obligations 45 52 140 156
Total interest expense 57,808 42,128 166,656 95,802
Net Interest Income 96,515 97,757 283,811 289,939
Provision for credit losses - portfolio 10,615 5,885 22,680 6,025
Provision for credit losses - acquisition day 1 non-PCD 0 0 0 10,653
Net Interest Income after Provision for Credit Losses 85,900 91,872 261,131 273,261
Noninterest Income        
Gain Losses Maturities And Impairment 88 (103) (5,447) (103)
Gain (Loss) on Equity Securities 106 0 5,664 0
Trust income 3,242 2,949 8,790 7,967
Service charges on deposit accounts 5,840 5,600 16,769 15,842
Insurance and retail brokerage commissions 2,663 2,305 7,618 7,171
Income from bank owned life insurance 2,278 1,242 4,943 3,664
Gain on sale of mortgage loans 1,151 1,270 4,150 3,175
Gain on sale of other loans and assets 2,576 1,027 6,035 5,004
Card-related interchange income 4,137 7,221 17,964 21,422
Derivatives mark to market (153) 35 (141) 27
Swap fee income 88 452 88 1,029
Other income 2,682 2,828 7,463 7,114
Total noninterest income 24,698 24,826 73,896 72,312
Noninterest Expense        
Salaries and employee benefits 38,618 35,640 111,262 106,639
Net occupancy expense 4,858 4,782 15,014 14,584
Furniture and equipment expense 4,335 4,414 13,093 12,936
Data processing expense 3,879 3,857 11,543 11,024
Advertising and promotion 1,960 1,662 4,177 4,652
Intangible amortization 1,126 1,588 3,454 4,013
Intangible amortization 1,223 1,344 3,656 3,773
Other professional fees and services 1,448 1,603 3,976 4,376
FDIC insurance 1,638 1,920 4,537 4,614
Loss on sale or write-down of assets 132 50 352 97
Litigation and operational losses 2,181 1,626 3,672 3,263
Amortization of Debt Issuance Costs 0 0 369 0
Business Combination, Integration Related Costs 0 (379) (114) (8,860)
Other Noninterest Expense 8,672 8,548 26,222 25,906
Total noninterest expense 70,070 67,413 201,441 204,737
Income Before Income Taxes 40,528 49,285 133,586 140,836
Income tax provision 8,442 10,054 26,863 28,600
Net Income $ 32,086 $ 39,231 $ 106,723 $ 112,236
Average Shares Outstanding (in shares) 102,069,233 102,159,213 102,032,702 101,428,065
Average Shares Outstanding Assuming Dilution (in shares) 102,418,964 102,442,878 102,293,213 101,674,970
Per Share Data:        
Basic Earnings per Share (in dollars per share) $ 0.31 $ 0.38 $ 1.05 $ 1.11
Diluted Earnings per Share (in dollars per share) 0.31 0.38 1.04 1.10
Cash Dividends Declared per Common Share (in dollars per share) $ 0.130 $ 0.125 $ 0.385 $ 0.370