XML 19 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest and dividend income      
Interest and fees on loans $ 466,815 $ 286,150 $ 218,781
Investment securities-taxable 31,682 27,795 14,555
Investment securities-nontaxable 5,098 7,172 6,337
Interest and dividend income on assets held in other financial institutions 19,796 5,487 1,983
Total interest and dividend income 523,391 326,604 241,656
Interest expense      
Interest-bearing deposits 196,457 33,509 13,418
FHLB advances and other borrowings 17,258 9,411 4,654
Subordinated indebtedness 10,119 8,406 7,332
Total interest expense 223,834 51,326 25,404
Net interest income 299,557 275,278 216,252
Provision for credit losses 16,753 24,691 (10,765)
Net interest income after provision for credit losses 282,804 250,587 227,017
Noninterest income      
Mortgage banking revenue 3,356 6,722 12,927
Other fee income 3,871 3,530 2,879
Swap fee income 1,277 457 814
(Loss) gain on sales of securities, net (11,635) 1,664 1,748
Limited partnership investment (loss) income 405 (199) 5,701
Gain (loss) on sales and disposals of other assets, net 64 (175) (185)
Change in fair value of equity investments 10,096 0 19
Other income 7,013 4,737 10,162
Total noninterest income 58,335 57,274 62,193
Noninterest expense      
Salaries and employee benefits 138,819 118,971 93,026
Occupancy and equipment, net 26,783 20,203 17,347
Data processing 11,590 10,456 9,117
Intangible asset amortization 9,628 5,488 844
Office and operations 10,834 8,120 6,399
Professional services 5,931 3,813 3,644
Loan-related expenses 5,035 6,097 7,688
Advertising and marketing 5,986 4,431 3,438
Electronic banking 4,712 3,958 3,563
Franchise tax expense 3,334 3,582 2,538
Regulatory assessments 6,456 3,547 2,904
Communications 1,527 1,246 1,574
Merger-related expense 0 6,171 0
Other expenses 4,581 4,336 4,697
Total noninterest expense 235,216 200,419 156,779
Income before income tax expense 105,923 107,442 132,431
Income tax expense 22,123 19,727 23,885
Net income $ 83,800 $ 87,715 $ 108,546
Basic earnings per common share (in dollars per share) $ 2.72 $ 3.29 $ 4.63
Diluted earnings per common share (in dollars per share) $ 2.71 $ 3.28 $ 4.60
Insurance commission and fee income      
Noninterest income      
Revenue from contracts with customers $ 25,085 $ 22,869 $ 13,098
Service charges and fees      
Noninterest income      
Revenue from contracts with customers $ 18,803 $ 17,669 $ 15,049