XML 13 R4.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Income - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest income:      
Interest and fees on loans $ 262,423,000 $ 185,869,000 $ 159,684,000
Interest on investment securities      
Taxable 24,949,000 20,595,000 15,598,000
Exempt from federal income tax 7,170,000 8,785,000 7,318,000
Interest on certificates of deposit investments 98,000 37,000 56,000
Interest on federal funds sold 419,000 113,000 0
Interest on deposits with other financial institutions 5,107,000 492,000 357,000
Total interest income 300,166,000 215,891,000 183,013,000
Interest expense:      
Interest on deposits 77,294,000 18,813,000 9,037,000
Interest on securities sold under agreements to repurchase 6,565,000 1,795,000 231,000
Interest on FHLB borrowings 16,779,000 6,184,000 1,514,000
Interest on other borrowings 10,000 9,000 0
Interest on junior subordinated debentures 1,859,000 868,000 541,000
Interest on subordinated debt 4,196,000 3,945,000 3,939,000
Total interest expense 106,703,000 31,614,000 15,262,000
Net interest income 193,463,000 184,277,000 167,751,000
Provision for credit losses 6,104,000 4,806,000 15,151,000
Net interest income after provision for credit losses 187,359,000 179,471,000 152,600,000
Other income:      
Wealth management revenues 20,793,000 22,492,000 20,407,000
Insurance commissions 24,814,000 21,622,000 18,927,000
Service charges 10,881,000 9,112,000 6,808,000
Securities gains, net 3,383,000 33,000 124,000
Mortgage banking revenue, net 2,282,000 1,190,000 4,718,000
ATM / debit card revenue 14,347,000 12,422,000 11,974,000
Bank owned life insurance 4,957,000 3,559,000 3,039,000
Other income 5,329,000 4,252,000 3,770,000
Total other income 86,786,000 74,682,000 69,767,000
Other expense:      
Salaries and employee benefits 104,962,000 98,594,000 89,660,000
Net occupancy and equipment expense 26,946,000 24,257,000 21,546,000
Net other real estate owned expense 1,862,000 330,000 3,866,000
FDIC insurance expense 3,339,000 1,805,000 1,604,000
Amortization of intangible assets 9,127,000 6,290,000 5,391,000
Stationery and supplies 1,346,000 1,295,000 1,161,000
Legal and professional 7,379,000 6,996,000 6,730,000
ATM / debit card expense 5,322,000 4,300,000 3,116,000
Marketing and donations 3,005,000 2,999,000 3,603,000
Other expense 22,452,000 15,995,000 18,902,000
Total other expense 185,740,000 162,861,000 155,579,000
Income before income taxes 88,405,000 91,292,000 66,788,000
Income taxes 19,470,000 18,340,000 15,298,000
Net income $ 68,935,000 $ 72,952,000 $ 51,490,000
Per share data:      
Basic net income per common share $ 3.17 $ 3.62 $ 2.88
Diluted net income per common share 3.15 3.6 2.87
Cash dividends declared per common share $ 0.92 $ 0.9 $ 0.85