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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest income:      
Loans $ 170,410 $ 144,803 $ 158,450
Taxable investment securities 18,940 13,312 4,172
Tax-exempt investment securities 45,001 37,730 33,416
MBS 16,639 19,534 34,319
FHLB stock and equity investments 503 530 1,233
Other interest earning assets 1,488 78 238
Total interest income 252,981 215,987 231,828
Interest expense:      
Deposits 29,075 9,404 24,648
FHLB borrowings 3,291 7,348 11,397
Subordinated notes 4,015 8,246 6,301
Trust preferred subordinated debentures 2,397 1,390 1,829
Other borrowings 1,862 42 388
Total interest expense 40,640 26,430 44,563
Net interest income 212,341 189,557 187,265
Provision for (reversal of) credit losses 3,241 (16,964) 20,201
Net interest income after provision for credit losses 209,100 206,521 167,064
Noninterest income:      
Deposit services 25,843 26,368 24,359
Net gain (loss) on sale of securities available for sale (3,819) 3,862 8,257
Gain on sale of loans 531 1,641 2,772
Trust fees 5,992 5,959 5,133
BOLI 2,647 2,618 2,554
Brokerage services 3,335 3,383 2,271
Other 6,328 5,505 4,386
Total noninterest income 40,857 49,336 49,732
Noninterest expense:      
Salaries and employee benefits 82,633 79,892 77,225
Net occupancy 15,130 14,239 14,369
Advertising, travel & entertainment 3,430 2,367 2,147
ATM expense 1,314 1,166 1,018
Professional fees 4,959 4,015 4,224
Software and data processing 6,847 5,675 4,957
Communications 1,896 2,233 1,984
FDIC insurance 1,945 1,807 1,124
Amortization of intangibles 2,273 2,849 3,617
Loss on redemption of subordinated notes 0 1,118 0
Other 9,899 9,669 12,642
Total noninterest expense 130,326 125,030 123,307
Income before income tax expense 119,631 130,827 93,489
Income tax expense 14,611 17,426 11,336
Net income $ 105,020 $ 113,401 $ 82,153
Earnings per common share - basic (in dollars per share) $ 3.27 $ 3.48 $ 2.47
Earnings per common share - diluted (in dollars per share) 3.26 3.47 2.47
Cash dividends paid per common share $ 1.40 $ 1.37 $ 1.30