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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and dividend income        
Interest and fees on loans $ 129,879 $ 115,442 $ 257,065 $ 221,938
Investment securities-taxable 6,606 8,303 13,455 16,464
Investment securities-nontaxable 893 1,283 1,803 2,693
Interest and dividend income on assets held in other financial institutions 4,416 7,286 8,172 11,360
Total interest and dividend income 141,794 132,314 280,495 252,455
Interest expense        
Interest-bearing deposits 65,469 46,530 128,311 81,087
FHLB advances and other borrowings 514 7,951 1,032 13,831
Subordinated indebtedness 1,921 2,542 3,939 5,099
Total interest expense 67,904 57,023 133,282 100,017
Net interest income 73,890 75,291 147,213 152,438
Provision for credit losses 5,231 4,306 8,243 10,503
Net interest income after provision for credit losses 68,659 70,985 138,970 141,935
Noninterest income        
Other fee income 2,404 1,990 4,651 3,964
Mortgage banking revenue 1,878 1,402 4,276 3,183
Swap fee income 44 331 101 715
(Loss) gain on sales of securities, net 0 0 (403) 144
Change in fair value of equity investments 5,188 0 5,188 0
Other income 1,424 1,006 1,967 1,525
Total noninterest income 22,465 15,636 39,720 32,020
Noninterest expense        
Salaries and employee benefits 38,109 34,533 73,927 68,264
Occupancy and equipment, net 7,009 6,578 13,654 13,081
Data processing 3,468 2,837 6,613 5,753
Office and operations 3,072 2,716 5,574 5,019
Intangible asset amortization 2,137 2,552 4,274 5,105
Regulatory assessments 1,842 1,732 3,576 2,683
Advertising and marketing 1,328 1,469 2,772 2,925
Professional services 1,303 1,557 2,534 3,082
Loan-related expense 1,077 1,256 1,982 2,721
Electronic banking 1,238 1,216 2,477 2,225
Franchise tax expense 815 897 1,292 1,872
Other expense 2,990 1,544 4,420 2,917
Total noninterest expense 64,388 58,887 123,095 115,647
Income before income tax expense 26,736 27,734 55,595 58,308
Income tax expense 5,747 5,974 11,974 12,246
Net income $ 20,989 $ 21,760 $ 43,621 $ 46,062
Basic earnings per common share (in dollars per share) $ 0.68 $ 0.71 $ 1.41 $ 1.50
Diluted earnings per common share (in dollars per share) $ 0.67 $ 0.70 $ 1.40 $ 1.49
Insurance commission and fee income        
Noninterest income        
Revenue from contracts with customers $ 6,665 $ 6,185 $ 14,390 $ 13,196
Service charges and fees        
Noninterest income        
Revenue from contracts with customers $ 4,862 $ 4,722 $ 9,550 $ 9,293