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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 $ 93,744 $ 82,182 $ 249,716 $ 260,124
Interest and dividends on investment securities 13,463 5,877 37,890 15,878
Interest on balances with other banks and short-term investments 4,100 1,083 7,608 2,239
Interest on federal funds sold 220 10 269 25
Total interest income 111,527 89,152 295,483 278,266
Interest Expense        
Interest on deposits 26,125 6,590 44,022 21,288
Interest on customer repurchase agreements 55 14 90 34
Interest on other short-term borrowings 412 506 992 1,502
Interest on long-term borrowings 1,038 2,997 3,112 9,114
Total interest expense 27,630 10,107 48,216 31,938
Net Interest Income 83,897 79,045 247,267 246,328
Provision for Loan, Lease, and Other Losses 3,022 (8,203) 730 (14,409)
Provision for (Reversal of) Credit Losses for Unfunded Commitments 774 716 1,316 (487)
Net Interest Income After Provision for (Reversal of) Credit Losses 80,101 86,532 245,221 261,224
Noninterest Income        
Service charges on deposits 1,339 1,204 3,970 3,303
Gain on sale of loans 821 3,332 3,168 11,988
Net gain (loss) on sale of investment securities 4 1,519 (172) 2,058
Increase in the cash surrender value of bank-owned life insurance 631 642 1,889 1,429
Other income 2,513 1,602 9,470 11,033
Total noninterest income 5,308 8,299 18,325 29,811
Noninterest Expense        
Salaries and employee benefits 21,538 22,145 60,362 63,790
Premises and equipment expenses 3,275 3,859 9,926 11,121
Marketing and advertising 1,181 1,013 3,431 2,879
Data processing 3,445 2,886 9,054 8,451
Legal, accounting and professional fees 2,332 2,021 6,030 8,523
FDIC insurance 1,287 1,549 3,251 5,586
Other expenses 3,148 2,902 34,126 9,506
Total noninterest expense 36,206 36,375 126,180 109,856
Income Before Income Tax Expense 49,203 58,456 137,366 181,179
Income Tax Expense 11,906 14,847 38,629 46,108
Net Income $ 37,297 $ 43,609 $ 98,737 $ 135,071
Earnings Per Common Share        
Basic (in dollars per share) $ 1.16 $ 1.36 $ 3.08 $ 4.23
Diluted (in dollars per share) $ 1.16 $ 1.36 $ 3.07 $ 4.22