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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
INTEREST INCOME        
Loans $ 150,419 $ 167,547 $ 298,949 $ 340,522
Investment securities and other interest-earning assets 38,762 40,507 77,567 80,963
Total interest income 189,181 208,054 376,516 421,485
INTEREST EXPENSE        
Deposits 58,376 64,229 117,949 123,735
FHLB advances and other borrowings 2 2,330 4 6,567
Subordinated debentures 4,048 5,101 8,441 9,662
Total interest expense 62,426 71,660 126,394 139,964
Net interest income before provision for credit losses 126,755 136,394 250,122 281,521
Provision for credit losses (2,078) 1,265 (5,796) 5,117
Net interest income after provision for credit losses 128,833 135,129 255,918 276,404
NONINTEREST INCOME        
Loan servicing income 472 510 919 1,039
Earnings on bank owned life insurance 4,341 4,218 10,113 8,377
Net gain from sales of loans 23 65 113 65
Other (loss) income (656) (167) (231) 5,792
Total noninterest income 17,565 18,222 39,030 43,996
NONINTEREST EXPENSE        
Compensation and benefits 53,268 53,140 106,080 107,270
Premises and occupancy 8,471 10,480 18,187 21,287
Data processing 7,806 7,754 15,782 15,265
Other real estate owned operations, net 0 0 0 46
FDIC insurance premiums 1,947 1,873 3,943 4,502
Legal and professional services 2,223 1,078 7,084 5,221
Marketing expense 905 1,724 1,841 3,282
Office expense 1,006 1,077 2,105 2,170
Loan expense 829 840 1,610 1,610
Deposit expense 13,644 12,289 26,540 24,954
Merger-related expense 6,712 0 6,712 0
Amortization of intangible assets 2,501 2,763 5,067 5,599
Other expense 5,064 4,549 9,717 8,994
Total noninterest expense 104,376 97,567 204,668 200,200
Net income before income taxes 42,022 55,784 90,280 120,200
Income tax expense 9,961 13,879 22,198 31,270
Net income $ 32,061 $ 41,905 $ 68,082 $ 88,930
EARNINGS PER SHARE        
Basic (in dollars per share) $ 0.33 $ 0.43 $ 0.70 $ 0.92
Diluted (in dollars per share) $ 0.33 $ 0.43 $ 0.70 $ 0.92
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 95,096,632 94,628,201 94,931,672 94,489,230
Diluted (in shares) 95,132,789 94,716,205 94,968,160 94,597,559
Service charges on deposit accounts        
NONINTEREST INCOME        
Noninterest income $ 2,578 $ 2,710 $ 5,207 $ 5,398
Other service fee income        
NONINTEREST INCOME        
Noninterest income 283 309 572 645
Debit card interchange fee income        
NONINTEREST INCOME        
Noninterest income 935 925 1,769 1,690
Trust custodial account fees        
NONINTEREST INCOME        
Noninterest income 8,815 8,950 19,122 19,592
Escrow and exchange fees        
NONINTEREST INCOME        
Noninterest income $ 774 $ 702 $ 1,446 $ 1,398