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Condensed Consolidated Statements of Income (unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income:        
Interest and fees on loans $ 79,560,000 $ 58,368,000 $ 157,383,000 $ 114,604,000
Interest on investment securities 7,405,000 7,193,000 14,810,000 14,320,000
Interest on certificates of deposit investments 43,000 15,000 63,000 29,000
Interest on federal funds sold 8,000 98,000 25,000 183,000
Interest on deposits with other financial institutions 1,667,000 456,000 4,074,000 665,000
Total interest income 88,683,000 66,130,000 176,355,000 129,801,000
Interest expense:        
Interest on deposits 26,338,000 16,580,000 52,434,000 29,347,000
Interest on securities sold under agreements to repurchase 1,615,000 1,723,000 3,671,000 3,186,000
Interest on FHLB borrowings 2,248,000 4,084,000 4,562,000 8,958,000
Interest on other borrowings 0 0 0 9,000
Interest on junior subordinated debentures 537,000 390,000 1,079,000 769,000
Interest on subordinated debentures 1,180,000 986,000 2,374,000 1,974,000
Total interest expense 31,918,000 23,763,000 64,120,000 44,243,000
Net interest income 56,765,000 42,367,000 112,235,000 85,558,000
Provision for credit losses 1,083,000 458,000 726,000 (359,000)
Net interest income after provision for credit losses 55,682,000 41,909,000 111,509,000 85,917,000
Other income:        
Wealth management revenues 5,405,000 5,341,000 10,727,000 10,855,000
Insurance commissions 6,531,000 5,737,000 15,744,000 14,217,000
Service charges 3,227,000 2,386,000 6,183,000 4,589,000
Securities losses, net (156,000) (6,000) (156,000) (52,000)
Mortgage banking revenue, net 1,038,000 332,000 1,744,000 482,000
ATM/debit card revenue 4,281,000 3,265,000 8,336,000 6,348,000
Bank owned life insurance 1,192,000 1,189,000 2,313,000 2,830,000
Other 904,000 1,242,000 2,009,000 2,696,000
Total other income 22,422,000 19,486,000 46,900,000 41,965,000
Other expense:        
Salaries and employee benefits 30,164,000 23,544,000 60,612,000 49,615,000
Net occupancy and equipment expense 7,507,000 6,035,000 15,067,000 12,040,000
Net other real estate owned expense 85,000 27,000 64,000 160,000
FDIC insurance 902,000 1,076,000 1,771,000 1,539,000
Amortization of intangible assets 3,340,000 1,477,000 6,837,000 2,999,000
Stationery and supplies 370,000 315,000 761,000 607,000
Legal and professional 2,536,000 1,780,000 4,985,000 3,470,000
ATM/debit card 1,281,000 1,016,000 2,472,000 2,239,000
Marketing and donations 814,000 908,000 1,676,000 1,562,000
Other 4,392,000 3,864,000 10,508,000 7,388,000
Total other expense 51,391,000 40,042,000 104,753,000 81,619,000
Income before income taxes 26,713,000 21,353,000 53,656,000 46,263,000
Income taxes 6,968,000 4,786,000 13,408,000 10,516,000
Net income $ 19,745,000 $ 16,567,000 $ 40,248,000 $ 35,747,000
Per share data:        
Basic net income per common share $ 0.83 $ 0.81 $ 1.69 $ 1.74
Diluted net income per common share 0.82 0.80 1.68 1.74
Cash dividends declared per common share $ 0.23 $ 0.23 $ 0.46 $ 0.46