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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
INTEREST INCOME          
Loans $ 164,455 $ 150,604 $ 152,365 $ 315,059 $ 307,590
Investment securities and other interest-earning assets 18,771 17,942 18,327 36,713 36,096
Total interest income 183,226 168,546 170,692 351,772 343,686
INTEREST EXPENSE          
Deposits 2,682 1,673 3,265 4,355 7,691
FHLB advances and other borrowings 3,217 474 0 3,691 65
Subordinated debentures 4,562 4,560 6,493 9,122 13,344
Total interest expense 10,461 6,707 9,758 17,168 21,100
Net interest income before provision for credit losses 172,765 161,839 160,934 334,604 322,586
Provision for credit losses 469 448 (38,476) 917 (36,502)
Net interest income after provision for credit losses 172,296 161,391 199,410 333,687 359,088
NONINTEREST INCOME          
Loan servicing income 502 419 622 921 1,080
Earnings on bank owned life insurance 3,240 3,221 2,279 6,461 4,512
Net gain from sales of loans 1,136 1,494 1,546 2,630 1,907
Net (loss) gain from sales of investment securities (31) 2,134 5,085 2,103 9,131
Other income 1,173 1,568 3,955 2,741 8,557
Total noninterest income 22,193 25,894 26,729 48,087 50,469
NONINTEREST EXPENSE          
Compensation and benefits 57,562 56,981 53,474 114,543 106,022
Premises and occupancy 11,829 11,952 12,240 23,781 24,220
Data processing 6,604 5,996 5,765 12,600 11,593
FDIC insurance premiums 1,452 1,396 1,312 2,848 2,493
Legal and professional services 4,629 4,068 4,186 8,697 8,121
Marketing expense 1,926 1,809 1,490 3,735 3,088
Office expense 1,252 1,203 1,589 2,455 3,418
Loan expense 1,144 1,134 1,165 2,278 2,280
Deposit expense 4,081 3,751 3,985 7,832 7,844
Merger-related expense 0 0 0 0 5
Amortization of intangible assets 3,479 3,592 4,001 7,071 8,144
Other expense 5,016 5,766 5,289 10,782 9,757
Total noninterest expense 98,974 97,648 94,496 196,622 186,985
Net income before income taxes 95,515 89,637 131,643 185,152 222,572
Income tax expense 25,712 22,733 35,341 48,445 57,602
Net income $ 69,803 $ 66,904 $ 96,302 $ 136,707 $ 164,970
EARNINGS PER SHARE          
Basic (in dollars per share) $ 0.74 $ 0.71 $ 1.02 $ 1.44 $ 1.74
Diluted (in dollars per share) $ 0.73 $ 0.70 $ 1.01 $ 1.44 $ 1.73
WEIGHTED AVERAGE SHARES OUTSTANDING          
Basic (in shares) 93,765,264 93,499,695 93,635,392 93,633,213 93,582,563
Diluted (in shares) 94,040,691 93,946,074 94,218,028 93,983,057 94,155,740
Service charges on deposit accounts          
NONINTEREST INCOME          
Noninterest income $ 2,690 $ 2,615 $ 2,222 $ 5,305 $ 4,254
Other service fee income          
NONINTEREST INCOME          
Noninterest income 366 367 352 733 825
Debit card interchange fee income          
NONINTEREST INCOME          
Noninterest income 936 836 1,099 1,772 1,886
Trust custodial account fees          
NONINTEREST INCOME          
Noninterest income 10,354 11,579 7,897 21,933 15,119
Escrow and exchange fees          
NONINTEREST INCOME          
Noninterest income $ 1,827 $ 1,661 $ 1,672 $ 3,488 $ 3,198