XML 110 R5.htm IDEA: XBRL DOCUMENT v3.25.0.1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
INTEREST INCOME:      
Interest and fees on loans $ 247,472 $ 217,284 $ 174,275
Taxable interest on investment securities 54,972 58,509 40,627
Nontaxable interest on investment securities 651 1,854 3,488
Interest on interest earning deposits 6,617 6,818 9,067
Total interest income 309,712 284,465 227,457
INTEREST EXPENSE:      
Deposits 75,069 39,350 6,772
Junior subordinated debentures 2,139 2,074 1,156
Securities sold under agreement to repurchase 0 153 138
Borrowings 23,140 17,733 6
Total interest expense 100,348 59,310 8,072
Net interest income 209,364 225,155 219,385
Provision for (reversal of) credit losses 6,282 4,280 (1,426)
Net interest income after provision for (reversal of) credit losses 203,082 220,875 220,811
NONINTEREST INCOME:      
Loss on sale of investment securities, net (22,742) (12,231) (256)
Gain on sale of loans, net 26 343 633
Interest rate swap fees 409 230 402
Bank owned life insurance income 2,967 2,934 3,747
Gain on sale of other assets, net 1,552 2 469
Other income 6,224 8,079 5,321
Total noninterest income 7,473 18,663 29,591
NONINTEREST EXPENSE:      
Compensation and employee benefits 98,527 100,083 92,092
Occupancy and equipment 19,289 19,156 17,465
Data processing 14,899 17,116 15,905
Marketing 988 1,930 1,643
Professional services 2,515 4,227 2,497
State/municipal business and use taxes 4,889 4,059 3,634
Federal deposit insurance premium 3,260 3,312 2,015
Amortization of intangible assets 1,640 2,434 2,750
Other expense 12,289 14,306 12,965
Total noninterest expense 158,296 166,623 150,966
Income before income taxes 52,259 72,915 99,436
Income tax expense 9,001 11,160 17,561
Net income $ 43,258 $ 61,755 $ 81,875
Basic earnings per common share (in dollars per share) $ 1.26 $ 1.76 $ 2.33
Diluted earnings per common share (in dollars per share) 1.24 1.75 2.31
Dividends declared per share (in dollars per share) $ 0.92 $ 0.88 $ 0.84
Average number of basic shares outstanding (in shares) 34,465,323 35,022,247 35,103,465
Average number of diluted shares outstanding (in shares) 34,899,036 35,258,189 35,463,896
Service charges and other fees      
NONINTEREST INCOME:      
Service charges, other fees and card revenue $ 11,285 $ 10,966 $ 10,390
Card revenue      
NONINTEREST INCOME:      
Service charges, other fees and card revenue $ 7,752 $ 8,340 $ 8,885