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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest and dividend income:        
Real estate secured loans $ 192,792 $ 156,318 $ 379,845 $ 263,774
Commercial loans 78,854 58,532 154,673 94,632
Consumer loans 10,464 8,351 20,623 12,874
Available for sale debt securities, equity securities and Federal Home Loan Bank stock 31,444 20,394 61,088 32,724
Held to maturity debt securities 1,966 2,357 3,962 4,625
Due from banks, Federal funds sold and other short-term investments 788 1,859 1,463 3,041
Total interest income 316,308 247,811 621,654 411,670
Interest expense:        
Deposits 96,257 81,058 193,678 133,592
Borrowed funds 24,470 20,566 42,247 37,949
Subordinated debt 8,487 4,681 16,907 4,953
Total interest expense 129,214 106,305 252,832 176,494
Net interest income 187,094 141,506 368,822 235,176
Provision (benefit) charge for credit losses (2,888) 69,705 (2,250) 69,385
Net interest income after provision for credit losses 189,982 71,801 371,072 165,791
Non-interest income:        
Fees 10,736 8,699 20,391 14,611
Wealth management income 6,948 7,769 14,275 15,257
Insurance agency income 4,942 4,488 10,593 9,281
Bank-owned life insurance 2,585 3,323 4,678 5,140
Net gain (loss) on securities transactions 0 (2,973) 87 (2,974)
Other income 1,864 969 4,081 1,766
Total non-interest income 27,075 22,275 54,105 43,081
Non-interest expense:        
Compensation and employee benefits 63,249 54,888 125,615 94,936
Net occupancy expense 13,011 11,142 26,938 19,662
Data processing expense 9,599 8,433 19,203 15,217
FDIC insurance 3,341 3,100 6,727 5,372
Amortization of intangibles 9,497 6,483 18,998 7,188
Advertising and promotion expense 1,429 1,171 2,489 2,137
Merger-related expenses 0 18,915 0 21,117
Other operating expenses 14,488 11,262 30,911 21,592
Total non-interest expense 114,614 115,394 230,881 187,221
Income (loss) before income tax expense 102,443 (21,318) 194,296 21,651
Income tax expense (benefit) 30,462 (9,833) 58,287 1,055
Net income (loss) $ 71,981 $ (11,485) $ 136,009 $ 20,596
Basic earnings per share (in dollars per share) $ 0.55 $ (0.11) $ 1.04 $ 0.23
Weighted average basic shares outstanding (in shares) 130,484,287 102,957,521 130,405,490 89,108,775
Diluted earnings per share (in dollars per share) $ 0.55 $ (0.11) $ 1.04 $ 0.23
Weighted average diluted shares outstanding (in shares) 130,500,143 102,957,521 130,440,958 89,116,590