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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest income:      
Loans $ 279,371 $ 244,803 $ 170,410
Taxable investment securities 28,075 31,186 18,940
Tax-exempt investment securities 40,469 54,629 45,001
MBS 45,222 19,450 16,639
FHLB stock and equity investments 2,079 1,185 503
Other interest earning assets 19,120 8,488 1,488
Total interest and dividend income 414,336 359,741 252,981
Interest expense:      
Deposits 153,657 108,157 29,075
FHLB borrowings 24,450 6,777 3,291
Subordinated notes 3,774 3,920 4,015
Trust preferred subordinated debentures 4,621 4,504 2,397
Other borrowings 11,707 21,356 1,862
Interest Expense, Operating, Total 198,209 144,714 40,640
Net interest income 216,127 215,027 212,341
Provision for (reversal of) credit losses 3,346 9,154 3,241
Net interest income after provision for credit losses 212,781 205,873 209,100
Noninterest income:      
Deposit services 24,425 25,497 25,843
Net gain (loss) on sale of securities available for sale (2,510) (15,976) (3,819)
Net gain on sale of equity securities 0 5,058 0
Gain (loss) on sale of loans 37 563 531
Trust fees 6,193 5,910 5,992
BOLI 4,256 5,823 2,647
Brokerage services 4,217 3,305 3,335
Other noninterest income 5,115 5,654 6,328
Total noninterest income 41,733 35,834 40,857
Noninterest expense:      
Salaries and employee benefits 90,290 85,625 82,633
Net occupancy 14,354 14,694 15,130
Advertising, travel & entertainment 3,363 4,093 3,430
ATM expense 1,483 1,351 1,314
Professional fees 5,080 5,351 4,959
Software and data processing 11,598 9,395 6,847
Communications 1,602 1,469 1,896
FDIC insurance 3,790 3,558 1,945
Amortization of intangibles 1,171 1,697 2,273
Other 14,406 13,345 9,899
Total noninterest expense 147,137 140,578 130,326
Income before income tax expense 107,377 101,129 119,631
Income tax expense 18,883 14,437 14,611
Net income $ 88,494 $ 86,692 $ 105,020
Earnings per common share - basic (in dollars per share) $ 2.92 $ 2.82 $ 3.27
Earnings per common share - diluted (in dollars per share) 2.91 2.82 3.26
Cash dividends paid per common share $ 1.44 $ 1.42 $ 1.40