XML 102 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest Income        
Interest and fees on loans $ 128,993 $ 80,142 $ 249,843 $ 155,972
Interest and dividends on investment securities 14,241 12,997 27,786 24,427
Interest on balances with other banks and short-term investments 13,229 2,451 19,003 3,508
Interest on federal funds sold 47 45 125 49
Total interest income 156,510 95,635 296,757 183,956
Interest Expense        
Interest on deposits 59,422 11,538 108,376 17,897
Interest on customer repurchase agreements 333 22 635 35
Interest on other short-term borrowings 23,907 120 38,837 580
Interest on long-term borrowings 1,037 1,037 2,074 2,074
Total interest expense 84,699 12,717 149,922 20,586
Net Interest Income 71,811 82,918 146,835 163,370
Provision for (Reversal of) Credit Losses 5,238 495 11,402 (2,292)
Provision for Credit Losses for Unfunded Commitments 318 553 1,166 542
Net Interest Income After Provision for (Reversal of) Credit Losses 66,255 81,870 134,267 165,120
Noninterest Income        
Service charges on deposits 1,626 1,345 3,136 2,631
Gain on sale of loans 95 855 400 2,347
Net gain (loss) on sale of investment securities 2 (151) (19) (176)
Increase in the cash surrender value of bank-owned life insurance 648 632 1,303 1,258
Other income 6,224 2,883 7,475 6,957
Total noninterest income 8,595 5,564 12,295 13,017
Noninterest Expense        
Salaries and employee benefits 21,957 21,805 46,131 38,824
Premises and equipment expenses 3,227 3,523 6,544 6,651
Marketing and advertising 884 1,186 1,520 2,250
Data processing 3,354 2,729 6,453 5,609
Legal, accounting and professional fees 2,649 2,137 5,903 3,698
FDIC insurance 2,581 906 4,067 1,964
Amortization of intangible assets 7 44 14 65
Other expenses 3,319 26,632 7,930 30,913
Total noninterest expense 37,978 58,962 78,562 89,974
Income Before Income Tax Expense 36,872 28,472 68,000 88,163
Income Tax Expense 8,180 12,776 15,074 26,723
Net Income $ 28,692 $ 15,696 $ 52,926 $ 61,440
Earnings Per Common Share        
Basic (in dollars per share) $ 0.94 $ 0.49 $ 1.72 $ 1.92
Diluted (in dollars per share) $ 0.94 $ 0.49 $ 1.72 $ 1.91