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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest and dividend income        
Interest and fees on loans $ 121,239 $ 129,879 $ 238,314 $ 257,065
Investment securities-taxable 7,692 6,606 15,768 13,455
Investment securities-nontaxable 1,425 893 2,393 1,803
Interest and dividend income on assets held in other financial institutions 4,281 4,416 10,705 8,172
Total interest and dividend income 134,637 141,794 267,180 280,495
Interest expense        
Interest-bearing deposits 50,152 65,469 101,931 128,311
FHLB advances and other borrowings 1,216 514 1,312 1,032
Subordinated indebtedness 1,133 1,921 3,342 3,939
Total interest expense 52,501 67,904 106,585 133,282
Net interest income 82,136 73,890 160,595 147,213
Provision for credit losses 2,862 5,231 6,306 8,243
Net interest income after provision for credit losses 79,274 68,659 154,289 138,970
Noninterest income        
Other fee income 2,809 2,404 5,110 4,651
Mortgage banking revenue 1,369 1,878 2,284 4,276
Swap fee income 1,435 44 1,968 101
Loss on sales of securities, net (14,448) 0 (14,448) (403)
Change in fair value of equity investments 0 5,188 0 5,188
Limited partnership investment (loss) income (1,909) 68 (3,601) 206
Other income 524 1,356 1,426 1,761
Total noninterest income 1,368 22,465 16,970 39,720
Noninterest expense        
Salaries and employee benefits 38,280 38,109 76,011 73,927
Occupancy and equipment, net 7,187 7,009 15,731 13,654
Data processing 3,432 3,468 6,389 6,613
Office and operations 3,337 3,072 6,309 5,574
Intangible asset amortization 1,768 2,137 3,529 4,274
Regulatory assessments 1,345 1,842 2,737 3,576
Advertising and marketing 1,158 1,328 2,291 2,772
Professional services 1,285 1,303 2,535 2,534
Electronic banking 1,359 1,238 2,713 2,477
Loan-related expense 669 1,077 1,268 1,982
Franchise tax expense 688 815 1,363 1,292
Other expense 1,475 2,990 3,175 4,420
Total noninterest expense 61,983 64,388 124,051 123,095
Income before income tax expense 18,659 26,736 47,208 55,595
Income tax expense 4,012 5,747 10,150 11,974
Net income $ 14,647 $ 20,989 $ 37,058 $ 43,621
Basic earnings per common share (in dollars per share) $ 0.47 $ 0.68 $ 1.19 $ 1.41
Diluted earnings per common share (in dollars per share) $ 0.47 $ 0.67 $ 1.18 $ 1.40
Insurance commission and fee income        
Noninterest income        
Revenue from contracts with customers $ 6,661 $ 6,665 $ 14,588 $ 14,390
Service charges and fees        
Noninterest income        
Revenue from contracts with customers $ 4,927 $ 4,862 $ 9,643 $ 9,550