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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest and dividend income        
Interest and fees on loans $ 55,986 $ 55,529 $ 107,169 $ 112,339
Investment securities-taxable 7,116 3,115 12,229 6,415
Investment securities-nontaxable 1,493 1,590 2,893 3,262
Interest and dividend income on assets held in other financial institutions 1,193 414 1,780 759
Total interest and dividend income 65,788 60,648 124,071 122,775
Interest expense        
Interest-bearing deposits 3,069 3,417 5,955 7,206
FHLB advances and other borrowings 1,392 1,106 2,486 2,375
Subordinated indebtedness 1,823 1,833 3,624 3,663
Total interest expense 6,284 6,356 12,065 13,244
Net interest income 59,504 54,292 112,006 109,531
Provision for credit losses 3,452 (5,609) 3,125 (4,197)
Net interest income after provision for credit losses 56,052 59,901 108,881 113,728
Noninterest income        
Mortgage banking revenue 2,354 2,765 6,450 7,342
Other fee income 638 623 1,236 1,394
Gain on sales of securities, net 0 5 0 1,673
Loss on sales and disposals of other assets, net (279) (42) (279) (80)
Limited partnership investment income (loss) 282 801 (81) 2,573
Swap fee income 1 24 140 372
Other income 1,253 1,473 2,235 2,392
Total noninterest income 14,216 12,438 30,122 29,569
Noninterest expense        
Salaries and employee benefits 27,319 22,354 53,807 44,679
Occupancy and equipment, net 4,514 4,349 8,941 8,688
Data processing 2,641 2,313 5,127 4,486
Office and operations 2,163 1,498 3,723 2,952
Loan-related expenses 1,517 2,154 2,822 3,859
Professional services 918 836 2,549 1,809
Electronic banking 896 989 1,813 1,950
Advertising and marketing 859 748 1,730 1,428
Franchise tax expense 838 629 1,608 1,248
Regulatory assessments 802 544 1,428 1,714
Intangible asset amortization 525 222 1,062 456
Communications 252 514 533 929
Other expenses 906 682 1,781 3,070
Non-interest expense 44,150 37,832 86,924 77,268
Income before income tax expense 26,118 34,507 52,079 66,029
Income tax expense 4,807 6,774 10,085 12,783
Net income $ 21,311 $ 27,733 $ 41,994 $ 53,246
Basic earnings per common share (in US dollars per share) $ 0.90 $ 1.18 $ 1.77 $ 2.28
Diluted earnings per common share (in US dollars per share) $ 0.90 $ 1.17 $ 1.77 $ 2.26
Service charges and fees        
Noninterest income        
Revenue from contracts with customers $ 4,274 $ 3,739 $ 8,272 $ 7,082
Insurance commission and fee income        
Noninterest income        
Revenue from contracts with customers $ 5,693 $ 3,050 $ 12,149 $ 6,821