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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest income:      
Loans, including fees $ 202,270 $ 176,598 $ 137,954
Securities:      
Taxable 21,090 21,590 15,010
Non-taxable 3,220 3,872 4,529
Federal funds sold and interest-bearing deposits in banks 14,319 9,973 3,675
Total interest income 240,899 212,033 161,168
Interest expense:      
Deposits 87,081 64,987 17,002
Notes payable & other borrowings 0 5 0
Subordinated debt 3,339 4,018 4,050
Junior subordinated deferrable interest debentures 3,381 3,276 1,640
Total interest expense 93,801 72,286 22,692
Net interest income 147,098 139,747 138,476
Provision for credit losses 4,300 4,610 (2,619)
Net interest income, after provision for credit losses 142,798 135,137 141,095
Noninterest income:      
Service charges on deposit accounts 8,026 7,130 6,829
Income from insurance activities 123 1,515 10,826
Net gain on sales of loans 10,524 11,027 20,764
Bank card services and interchange fees 13,640 13,323 12,946
Other mortgage banking income (loss) 3,662 2,790 10,606
Investment commissions 1,704 1,698 1,825
Fiduciary fees 2,719 2,433 2,390
Gain on sale of subsidiary 0 33,778 0
Other 7,674 5,532 9,959
Total noninterest income 48,072 79,226 76,145
Noninterest expense:      
Salaries and employee benefits 74,338 79,377 86,323
Occupancy and equipment, net 16,105 16,102 15,987
Professional services 6,583 6,433 9,740
Marketing and development 3,782 3,453 3,614
IT and data services 4,286 3,410 3,780
Bank card expenses 5,873 5,557 5,376
Appraisal expenses 953 1,087 1,747
Realized loss on sale of securities 0 3,409 0
Other 15,658 16,118 17,522
Total noninterest expense 127,578 134,946 144,089
Income before income taxes 63,292 79,417 73,151
Income tax expense 13,575 16,672 14,911
Net income $ 49,717 $ 62,745 $ 58,240
Earnings per share:      
Basic (in dollars per share) $ 3.03 $ 3.73 $ 3.35
Diluted (in dollars per share) $ 2.92 $ 3.62 $ 3.23
Net income $ 49,717 $ 62,745 $ 58,240
Other comprehensive income (loss):      
Unrealized gains (losses) on securities available for sale (9,706) 17,282 (114,367)
Less: Change in fair value on hedged state and municipal securities (1,619) (3,686) 14,607
Reclassification adjustment for loss on sale of securities 0 3,409 0
Tax effect 2,378 (3,571) 20,950
Other comprehensive income (loss) (8,947) 13,434 (78,810)
Comprehensive income (loss) $ 40,770 $ 76,179 $ (20,570)