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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest income:      
Loans, including fees $ 176,598 $ 137,954 $ 120,540
Securities:      
Taxable 21,590 15,010 9,445
Non taxable 3,872 4,529 4,639
Federal funds sold and interest-bearing deposits in banks 9,973 3,675 412
Total interest income 212,033 161,168 135,036
Interest expense:      
Deposits 64,987 17,002 8,293
Notes payable & other borrowings 5 0 43
Subordinated debt 4,018 4,050 4,056
Junior subordinated deferrable interest debentures 3,276 1,640 880
Total interest expense 72,286 22,692 13,272
Net interest income 139,747 138,476 121,764
Provision for credit losses 4,610 (2,619) (1,918)
Net interest income, after provision for credit losses 135,137 141,095 123,682
Noninterest income:      
Service charges on deposit accounts 7,130 6,829 6,963
Income from insurance activities 1,515 10,826 8,314
Net gain on sales of loans 11,027 20,764 51,184
Bank card services and interchange fees 13,323 12,946 12,239
Other mortgage banking income 2,790 10,606 8,542
Investment commissions 1,698 1,825 1,934
Fiduciary fees 2,433 2,390 2,917
Gain on sale of subsidiary 33,778 0 0
Other 5,532 9,959 5,376
Total noninterest income 79,226 76,145 97,469
Noninterest expense:      
Salaries and employee benefits 79,377 86,323 93,360
Occupancy and equipment, net 16,102 15,987 14,560
Professional services 6,433 9,740 6,752
Marketing and development 3,453 3,614 3,225
IT and data services 3,410 3,780 4,007
Bank card expenses 5,557 5,376 4,995
Appraisal expenses 1,087 1,747 3,248
Realized loss on sale of securities 3,409 0 0
Other 16,118 17,522 17,883
Total noninterest expense 134,946 144,089 148,030
Income before income taxes 79,417 73,151 73,121
Income tax expense 16,672 14,911 14,507
Net income $ 62,745 $ 58,240 $ 58,614
Earnings per share:      
Basic (in dollars per share) $ 3.73 $ 3.35 $ 3.26
Diluted (in dollars per share) $ 3.62 $ 3.23 $ 3.17
Net income $ 62,745 $ 58,240 $ 58,614
Other comprehensive income (loss):      
Unrealized gains (losses) on securities available for sale 17,282 (114,367) (15,479)
Less: Change in fair value on hedged state and municipal securities (3,686) 14,607 5,812
Reclassification adjustment for loss on sale of securities 3,409 0 0
Tax effect (3,571) 20,950 2,030
Other comprehensive income (loss) 13,434 (78,810) (7,637)
Comprehensive income (loss) $ 76,179 $ (20,570) $ 50,977