XML 16 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest Income        
Interest and fees on loans $ 132,273 $ 93,744 $ 382,116 $ 249,716
Interest and dividends on investment securities 13,732 13,463 41,518 37,890
Interest on balances with other banks and short-term investments 15,067 4,100 34,070 7,608
Interest on federal funds sold 77 220 202 269
Total interest income 161,149 111,527 457,906 295,483
Interest Expense        
Interest on deposits 70,929 26,125 179,305 44,022
Interest on customer repurchase agreements 311 55 946 90
Interest on other short-term borrowings 18,152 412 56,989 992
Interest on long-term borrowings 1,038 1,038 3,112 3,112
Total interest expense 90,430 27,630 240,352 48,216
Net Interest Income 70,719 83,897 217,554 247,267
Provision for Credit Losses 5,644 3,022 17,046 730
(Reversal of) Provision for Credit Losses for Unfunded Commitments (839) 774 327 1,316
Net Interest Income After (Reversal of) Provision for Credit Losses 65,914 80,101 200,181 245,221
Noninterest Income        
Service charges on deposits 1,631 1,339 4,767 3,970
(Loss) gain on sale of loans (5) 821 395 3,168
Net gain (loss) on sale of investment securities 5 4 (14) (172)
Increase in the cash surrender value of bank-owned life insurance 669 631 1,972 1,889
Other income 4,047 2,513 11,522 9,470
Total noninterest income 6,347 5,308 18,642 18,325
Noninterest Expense        
Salaries and employee benefits 21,549 21,538 67,680 60,362
Premises and equipment expenses 3,095 3,275 9,639 9,926
Marketing and advertising 768 1,181 2,288 3,431
Data processing 3,194 3,445 9,647 9,054
Legal, accounting and professional fees 2,162 2,332 8,065 6,030
FDIC insurance 3,342 1,287 7,409 3,251
Other expenses 3,523 3,148 11,467 34,126
Total noninterest expense 37,633 36,206 116,195 126,180
Income Before Income Tax Expense 34,628 49,203 102,628 137,366
Income Tax Expense 7,245 11,906 22,319 38,629
Net Income $ 27,383 $ 37,297 $ 80,309 $ 98,737
Earnings Per Common Share        
Basic (in dollars per share) $ 0.91 $ 1.16 $ 2.63 $ 3.08
Diluted (in dollars per share) $ 0.91 $ 1.16 $ 2.63 $ 3.07