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Condensed Consolidated Statements of Income (unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income:        
Interest and fees on loans $ 81,775,000 $ 69,143,000 $ 239,158,000 $ 183,747,000
Interest on investment securities 7,036,000 9,284,000 21,846,000 23,604,000
Interest on certificates of deposit investments 39,000 15,000 102,000 44,000
Interest on federal funds sold 28,000 114,000 53,000 297,000
Interest on deposits with other financial institutions 2,304,000 1,882,000 6,378,000 2,547,000
Total interest income 91,182,000 80,438,000 267,537,000 210,239,000
Interest expense:        
Interest on deposits 28,341,000 22,047,000 80,775,000 51,394,000
Interest on securities sold under agreements to repurchase 1,444,000 1,625,000 5,115,000 4,811,000
Interest on FHLB borrowings 2,194,000 4,761,000 6,756,000 13,719,000
Interest on other borrowings 1,000 (12,000) 1,000 (3,000)
Interest on junior subordinated debentures 567,000 545,000 1,646,000 1,314,000
Interest on subordinated debentures 1,092,000 1,029,000 3,466,000 3,003,000
Total interest expense 33,639,000 29,995,000 97,759,000 74,238,000
Net interest income 57,543,000 50,443,000 169,778,000 136,001,000
Provision for credit losses 1,266,000 5,911,000 1,992,000 5,552,000
Net interest income after provision for credit losses 56,277,000 44,532,000 167,786,000 130,449,000
Other income:        
Wealth management revenues 5,816,000 4,940,000 16,543,000 15,795,000
Insurance commissions 6,003,000 5,199,000 21,747,000 19,416,000
Service charges 3,121,000 2,994,000 9,304,000 7,583,000
Securities gains (losses), net (277,000) 3,389,000 (433,000) 3,337,000
Mortgage banking revenue, net 1,109,000 846,000 2,853,000 1,328,000
ATM/debit card revenue 4,267,000 3,766,000 12,603,000 10,114,000
Bank owned life insurance 1,196,000 1,024,000 3,509,000 3,854,000
Other 1,788,000 895,000 3,797,000 3,591,000
Total other income 23,023,000 23,053,000 69,923,000 65,018,000
Other expense:        
Salaries and employee benefits 31,565,000 25,422,000 92,177,000 75,037,000
Net occupancy and equipment expense 8,055,000 6,929,000 23,122,000 18,969,000
Net other real estate owned expense 107,000 902,000 171,000 1,062,000
FDIC insurance 829,000 785,000 2,600,000 2,324,000
Amortization of intangible assets 3,405,000 2,568,000 10,242,000 5,567,000
Stationery and supplies 482,000 335,000 1,243,000 942,000
Legal and professional 2,573,000 1,844,000 7,558,000 5,314,000
ATM/debit card 1,869,000 1,751,000 4,341,000 3,990,000
Marketing and donations 836,000 764,000 2,512,000 2,326,000
Other 4,212,000 5,796,000 14,720,000 13,184,000
Total other expense 53,933,000 47,096,000 158,686,000 128,715,000
Income before income taxes 25,367,000 20,489,000 79,023,000 66,752,000
Income taxes 5,885,000 5,372,000 19,293,000 15,888,000
Net income $ 19,482,000 $ 15,117,000 $ 59,730,000 $ 50,864,000
Per share data:        
Basic net income per common share $ 0.81 $ 0.68 $ 2.5 $ 2.41
Diluted net income per common share 0.81 0.68 2.49 2.4
Cash dividends declared per common share $ 0.24 $ 0.23 $ 0.7 $ 0.69