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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest and dividend income:    
Loans $ 237,129 $ 210,636
Investment securities 24,122 27,110
Money market investments and interest-bearing cash accounts 7,254 4,650
Total interest and dividend income 268,505 242,396
Interest expense:    
Deposits 63,025 29,885
Short-term securities sold under agreements to repurchase 0 1,069
Advances from the FHLB:    
Short-term advances from the FHLB 0 4,341
Long-term advances from FHLB 5,610 2,835
Other long-term borrowings 3,350 3,381
Total interest expense 71,985 41,511
Net interest income 196,520 200,885
Provision for credit losses - expense (benefit):    
Loans and finance leases 12,917 16,256
Unfunded loan commitments 281 (105)
Debt securities (1,031) (649)
Provision for credit losses - expense 12,167 15,502
Net interest income after provision for credit losses 184,353 185,383
Non-interest income:    
Service charges and fees on deposit accounts 9,662 9,541
Mortgage banking activities 2,882 2,812
Insurance commission income 5,507 4,847
Card and processing income 11,312 10,918
Other non-interest income 4,620 4,400
Total non-interest income 33,983 32,518
Non-interest expenses:    
Employees' compensation and benefits 59,506 56,422
Occupancy and equipment 21,381 21,186
Business promotion 3,842 3,975
Professional service fees 12,676 11,973
Taxes, other than income taxes 5,129 5,112
FDIC deposit insurance 3,102 2,133
Net gain on OREO operations (1,452) (1,996)
Credit and debit card processing expenses 5,751 5,318
Communications 2,097 2,216
Other non-interest expenses 8,891 8,929
Total non-interest expenses 120,923 115,268
Income before income taxes 97,413 102,633
Income tax expense 23,955 31,935
Net income 73,458 70,698
Net income attributable to common stockholders $ 73,458 $ 70,698
Net income per common share:    
Basic $ 0.44 $ 0.39
Diluted $ 0.44 $ 0.39