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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 and fees on loans $ 119,280 $ 115,405 $ 359,513 $ 333,356
Interest and dividends on investment securities:        
Taxable 4,740 4,128 13,757 12,386
Tax-exempt 1,119 1,136 3,394 3,475
Dividends 1,048 907 3,390 2,750
Interest on federal funds sold and other short-term investments 4,055 2,110 9,802 9,141
Total interest income 130,242 123,686 389,856 361,108
Interest expense        
Deposits 63,785 56,043 186,278 146,844
Borrowings 5,570 5,286 20,952 20,980
Total interest expense 69,355 61,329 207,230 167,824
Net interest income 60,887 62,357 182,626 193,284
Provision for credit losses 3,800 1,500 10,300 5,500
Net interest income after provision for credit losses 57,087 60,857 172,326 187,784
Noninterest income        
Deposit, loan and other income 1,817 1,605 5,063 4,553
Income on bank owned life insurance 2,145 1,597 5,486 4,681
Net gains on sale of loans held-for-sale 343 633 2,126 1,232
Net gains (losses) on equity securities 432 (273) 309 (674)
Total noninterest income 4,737 3,562 12,984 9,792
Noninterest expenses        
Salaries and employee benefits 22,957 22,251 67,809 66,213
Occupancy and equipment 2,889 2,738 8,797 8,176
FDIC insurance 1,800 1,800 5,400 4,465
Professional and consulting 2,147 1,834 5,998 5,960
Marketing and advertising 635 554 1,925 1,642
Information technology and communications 4,464 3,487 13,051 10,192
Merger expenses 742 0 742 0
Amortization of core deposit intangibles 297 347 939 1,090
Other expenses 2,710 2,773 8,639 8,366
Total noninterest expenses 38,641 35,784 113,300 106,104
Income before income tax expense 23,183 28,635 72,010 91,472
Income tax expense 6,022 7,228 18,588 23,742
Net income 17,161 21,407 53,422 67,730
Preferred dividends 1,509 1,509 4,527 4,527
Net income available to common stockholders $ 15,652 $ 19,898 $ 48,895 $ 63,203
Earnings per common share:        
Basic (in dollars per share) $ 0.41 $ 0.51 $ 1.27 $ 1.62
Diluted (in dollars per share) $ 0.41 $ 0.51 $ 1.27 $ 1.61