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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest Income      
Interest and fees on loans $ 518,080 $ 358,967 $ 337,749
Interest and dividends on investment securities 54,660 51,481 23,205
Interest on balances with other banks and short-term investments 52,300 13,304 3,511
Interest on federal funds sold 287 861 31
Total interest income 625,327 424,613 364,496
Interest Expense      
Interest on deposits 257,544 83,261 27,772
Interest on customer repurchase agreements 1,218 356 51
Interest on borrowings 76,019 8,129 12,159
Total interest expense 334,781 91,746 39,982
Net Interest Income 290,546 332,867 324,514
Provision for (Reversal of) Credit Losses 31,536 266 (20,821)
(Reversal of) Provision for Unfunded Commitments (267) 1,477 (1,119)
Net Interest Income After Provision for (Reversal of) Credit Losses 259,277 331,124 346,454
Noninterest Income      
Service charges on deposits 6,455 5,399 4,562
Gain on sale of loans 418 3,702 14,045
Net (loss) gain on sale of investment securities (11) (169) 2,964
Increase in the cash surrender value of bank-owned life insurance 2,659 2,547 2,059
Other income 12,015 12,175 16,755
Total noninterest income 21,536 23,654 40,385
Noninterest Expense      
Salaries and employee benefits 86,096 84,053 88,398
Premises and equipment expenses 12,606 13,218 14,876
Marketing and advertising 3,359 4,721 4,165
Data processing 13,083 12,171 11,709
Legal, accounting and professional fees 10,787 8,583 11,510
FDIC insurance 11,853 4,969 5,897
SEC/FRB penalties 0 22,977 0
Other expenses 15,509 14,406 12,610
Total noninterest expense 153,293 165,098 149,165
Income Before Income Tax Expense 127,520 189,680 237,674
Income Tax Expense 26,986 48,750 60,983
Net Income $ 100,534 $ 140,930 $ 176,691
Earnings Per Common Share      
Basic (in dollars per share) $ 3.31 $ 4.40 $ 5.53
Diluted (in dollars per share) $ 3.31 $ 4.39 $ 5.52