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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest income:        
Loans, including fees: Taxable $ 80,583 $ 93,020 $ 236,765 $ 277,961
Loans, including fees: Tax exempt 338 382 1,267 1,156
Loans held for sale 147 124 5,087 263
Investment securities:        
Taxable 15,418 13,259 47,011 35,921
Tax exempt 443 390 1,303 1,062
Nonmarketable equity securities 715 788 2,056 2,438
Federal funds sold and cash investments 849 1,031 2,283 2,857
Total interest income 98,493 108,994 295,772 321,658
Interest expense:        
Deposits 30,219 41,970 97,124 120,660
Short-term borrowings 499 602 1,772 1,746
Federal Home Loan Bank advances and other borrowings 4,044 4,743 10,973 13,615
Subordinated debt 1,393 1,228 4,174 3,773
Trust preferred debentures 1,221 1,341 3,627 4,088
Total interest expense 37,376 49,884 117,670 143,882
Net interest income 61,117 59,110 178,102 177,776
Provision for credit losses:        
Provision for credit losses on loans 20,505 17,925 48,724 46,349
Recapture of other credit losses (500) 0 (500) (200)
Total provision for credit losses 20,005 17,925 48,224 46,149
Net interest income after provision for credit losses 41,112 41,185 129,878 131,627
Noninterest income:        
Wealth management revenue 8,018 7,104 22,747 21,037
Service charges on deposit accounts 3,598 3,411 10,254 9,648
Interchange revenue 3,445 3,506 10,059 10,427
Residential mortgage banking revenue 735 697 2,167 1,781
Income on company-owned life insurance 2,102 1,982 6,504 5,708
Gain (loss) on sales of investment securities, net 14 (44) 14 (196)
Credit enhancement income (242) 14,206 3,028 45,188
Other income 2,346 2,683 6,540 9,777
Total noninterest income 20,016 33,545 61,313 103,370
Noninterest expense:        
Salaries and employee benefits 26,393 24,382 78,494 71,356
Occupancy and equipment 4,206 4,393 12,870 12,499
Data processing 7,186 6,955 21,140 20,882
FDIC insurance 1,512 1,402 4,397 3,895
Professional services 2,017 1,744 7,550 6,242
Marketing 1,460 967 3,536 2,445
Communications 298 359 961 1,037
Loan expense 1,721 1,935 5,046 4,416
Loan servicing fees 1,274 3,031 3,410 10,077
Impairment on goodwill 0 0 153,977 0
Amortization of intangible assets 743 951 2,481 3,056
Other expense 3,004 3,645 8,949 13,251
Total noninterest expense 49,814 49,764 302,811 149,156
Income (loss) before income taxes 11,314 24,966 (111,620) 85,841
Income tax expense 3,757 4,535 9,773 17,028
Net income (loss) 7,557 20,431 (121,393) 68,813
Preferred dividends 2,229 2,229 6,685 6,685
Net income (loss) available to common shareholders $ 5,328 $ 18,202 $ (128,078) $ 62,128
Per common share data:        
Basic earnings (loss) per common share (in dollars per share) $ 0.24 $ 0.83 $ (5.88) $ 2.82
Diluted earnings (loss) per common share (in dollars per share) $ 0.24 $ 0.83 $ (5.88) $ 2.81
Weighted average common shares outstanding (in shares) 21,863,911 21,675,818 21,826,566 21,726,143
Weighted average diluted common shares outstanding (in shares) 21,863,911 21,678,242 21,826,566 21,732,093