XML 17 R5.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest income:      
Loans $ 390,386 $ 315,237 $ 349,221
Debt securities 34,407 22,033 24,116
Equity investments and other 6,382 4,822 6,271
Total interest income 431,175 342,092 379,608
Interest expense:      
Deposits 31,021 25,210 48,290
Borrowed funds 22,677 11,544 18,367
Total interest expense 53,698 36,754 66,657
Net interest income 377,477 305,338 312,951
Credit loss expense (benefit) 7,768 (11,832) 59,404
Net interest income after credit loss expense (benefit) 369,709 317,170 253,547
Other income:      
Bankcard services revenue 9,219 13,360 11,417
Net gain on sales of loans 358 3,186 8,278
Net gain on equity investments 9,685 7,145 21,214
Net gain (loss) from other real estate operations 48 (15) 35
Income from bank owned life insurance 6,578 6,832 6,424
Commercial loan swap income 7,065 4,095 8,080
Other 953 1,159 618
Total other income 59,094 51,931 73,926
Operating expenses:      
Compensation and employee benefits 131,915 120,014 114,155
Occupancy 20,817 20,481 20,782
Equipment 4,987 5,443 7,769
Marketing 2,947 2,169 3,117
Federal deposit insurance and regulatory assessments 7,359 6,155 4,871
Data processing 23,095 21,570 17,467
Check card processing 4,971 5,182 5,458
Professional fees 12,993 11,043 12,247
FHLB advance prepayment fees 0 0 14,257
Amortization of core deposit intangible 4,718 5,453 6,186
Branch consolidation expense, net 713 12,337 7,623
Merger related expenses 2,735 1,503 15,947
Other operating expense 17,631 15,510 16,552
Total operating expenses 234,881 226,860 246,431
Income before provision for income taxes 193,922 142,241 81,042
Provision for income taxes 46,565 32,165 17,733
Net income 147,357 110,076 63,309
Net income attributable to non-controlling interest 754 0 0
Net income 146,603 110,076 63,309
Dividends on preferred shares 4,016 4,016 2,097
Net income available to common stockholders 142,587 106,060 61,212
Net income available to common stockholders $ 142,587 $ 106,060 $ 61,212
Basic earnings per share (in dollars per share) $ 2.43 $ 1.79 $ 1.02
Diluted earnings per share (in dollars per share) $ 2.42 $ 1.78 $ 1.02
Average basic shares outstanding (in shares) 58,730 59,406 59,919
Average diluted shares outstanding (in shares) 58,878 59,649 60,072
Trust and asset management revenue      
Other income:      
Trust and asset management revenue and fees and service charges $ 2,386 $ 2,336 $ 2,052
Fees and service charges      
Other income:      
Trust and asset management revenue and fees and service charges $ 22,802 $ 13,833 $ 15,808