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CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest and fees on loans    
Taxable $ 69,542 $ 39,735
Tax exempt 901 169
Interest and dividends on securities    
Taxable 3,513 3,278
Tax exempt 4,300 4,606
Other interest income 964 246
Total interest income 79,220 48,034
Interest on deposits 24,918 3,081
Interest on borrowings    
Short-term 2,783 0
Long-term 0 73
Total interest expense 27,701 3,154
NET INTEREST INCOME 51,519 44,880
Provision for credit losses 4,350 417
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 47,169 44,463
NONINTEREST INCOME    
Wealth advisory fees 2,200 2,287
Investment brokerage fees 534 519
Service charges on deposit accounts 2,630 2,809
Loan and service fees 2,846 2,889
Merchant card fee income 877 815
Bank owned life insurance income (loss) 691 (83)
Interest rate swap fee income 0 50
Mortgage banking income (loss) (99) 509
Net securities gains 16 0
Other income 619 892
Total noninterest income 10,314 10,687
NONINTEREST EXPENSE    
Salaries and employee benefits 16,063 14,392
Net occupancy expense 1,572 1,629
Equipment costs 1,438 1,411
Data processing fees and supplies 3,452 3,081
Corporate and business development 1,431 1,219
FDIC insurance and other regulatory fees 795 439
Professional fees 2,121 1,559
Other expense 2,562 3,239
Total noninterest expense 29,434 26,969
INCOME BEFORE INCOME TAX EXPENSE 28,049 28,181
Income tax expense 3,771 4,539
NET INCOME $ 24,278 $ 23,642
BASIC WEIGHTED AVERAGE COMMON SHARES (in shares) 25,583,026 25,515,271
BASIC EARNINGS PER COMMON SHARE (in dollars per share) $ 0.95 $ 0.93
DILUTED WEIGHTED AVERAGE COMMON SHARES (in shares) 25,742,885 25,690,372
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) $ 0.94 $ 0.92