XML 25 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
INTEREST INCOME:        
Interest and fees on loans $ 43,847 $ 46,863 $ 125,762 $ 147,137
Taxable interest on investment securities 12,362 4,711 25,972 12,295
Nontaxable interest on investment securities 892 931 2,645 2,836
Interest on interest earning deposits 4,009 537 7,057 975
Total interest income 61,110 53,042 161,436 163,243
INTEREST EXPENSE:        
Deposits 1,478 1,444 4,315 4,696
Junior subordinated debentures 312 184 745 557
Other borrowings 34 36 98 109
Total interest expense 1,824 1,664 5,158 5,362
Net interest income 59,286 51,378 156,278 157,881
Provision for (reversal of) credit losses 1,945 (3,149) (2,836) (24,335)
Net interest income after provision for (reversal of) credit losses 57,341 54,527 159,114 182,216
NONINTEREST INCOME:        
Service charges and other fees 2,688 2,400 7,739 6,728
Card revenue 2,365 2,150 6,774 6,216
Gain on sale of investment securities, net 0 0 0 29
Gain on sale of loans, net 133 765 593 3,138
Interest rate swap fees 78 126 383 487
Bank owned life insurance income 723 647 3,182 2,020
Gain on sale of other assets, net 265 942 469 1,688
Other income 1,201 1,198 3,867 4,470
Total noninterest income 7,453 8,228 23,007 24,776
NONINTEREST EXPENSE:        
Compensation and employee benefits 24,206 21,963 67,236 65,967
Occupancy and equipment 4,422 4,373 12,924 12,918
Data processing 4,185 4,029 12,431 11,839
Marketing 358 486 968 1,566
Professional services 639 776 1,867 3,083
State/municipal business and use taxes 963 1,071 2,626 3,034
Federal deposit insurance premium 500 550 1,525 1,478
Amortization of intangible assets 671 758 2,079 2,352
Other expense 3,203 3,160 8,918 8,567
Total noninterest expense 39,147 37,166 110,574 110,804
Income before income taxes 25,647 25,589 71,547 96,188
Income tax expense 4,657 4,997 12,216 17,550
Net income $ 20,990 $ 20,592 $ 59,331 $ 78,638
Basic earnings per common share (in usd per share) $ 0.60 $ 0.58 $ 1.69 $ 2.19
Diluted earnings per common share (in usd per share) 0.59 0.58 1.67 2.18
Dividends declared per common share (in usd per share) $ 0.21 $ 0.20 $ 0.63 $ 0.60
Basic weighted average common shares outstanding (in shares) 35,103,984 35,644,192 35,103,048 35,854,258
Weighted Average Number of Shares Outstanding, Diluted 35,468,890 35,929,518 35,438,672 36,152,052