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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income        
Interest and fees on loans $ 81,285 $ 71,101 $ 157,310 $ 141,563
Interest and dividends on investment securities:        
Taxable 2,551 995 4,424 2,083
Tax-exempt 916 608 1,625 1,374
Dividends 291 263 505 519
Interest on federal funds sold and other short-term investments 313 84 433 133
Total interest income 85,356 73,051 164,297 145,672
Interest expense        
Deposits 5,709 6,424 10,719 14,009
Borrowings 4,056 3,618 7,629 7,491
Total interest expense 9,765 10,042 18,348 21,500
Net interest income 75,591 63,009 145,949 124,172
Provision for (reversal of) credit losses 3,000 (1,649) 4,450 (7,415)
Net interest income after provision for (reversal of) credit losses 72,591 64,658 141,499 131,587
Noninterest income        
Deposit, loan and other income 1,866 2,222 3,609 3,390
Income on bank owned life insurance 1,342 1,185 2,548 2,249
Net gains on sale of loans held-for-sale 556 847 1,257 1,554
Gain on sale of branches 0 0 0 674
Net (losses) gains on equity securities (405) 23 (1,001) (164)
Net gain on sales/redemptions of securities available-for-sale 0 195 0 195
Total noninterest income 3,359 4,472 6,413 7,898
Noninterest expenses        
Salaries and employee benefits 19,662 15,351 38,445 30,983
Occupancy and equipment 2,733 3,187 4,662 6,591
FDIC insurance 725 580 1,331 1,515
Professional and consulting 2,124 2,117 3,916 4,073
Marketing and advertising 426 278 777 519
Information technology and communications 2,801 2,636 5,667 5,161
Amortization of intangibles 434 508 867 1,015
Other components of net periodic pension expense (143) (67) (286) (134)
Increase in value of acquisition price 833 0 1,516 0
Other expenses 2,108 1,669 4,038 3,021
Total noninterest expenses 31,703 26,259 60,933 52,744
Income before income tax expense 44,247 42,871 86,979 86,741
Income tax expense 11,889 10,652 23,240 21,523
Net income 32,358 32,219 63,739 65,218
Preferred dividends 1,509 0 3,018 0
Net income available to common stockholders $ 30,849 $ 32,219 $ 60,721 $ 65,218
Earnings per common share        
Basic (in dollars per share) $ 0.78 $ 0.81 $ 1.54 $ 1.64
Diluted (in dollars per share) $ 0.78 $ 0.81 $ 1.53 $ 1.63