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Unaudited Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest and dividend income:        
Interest and fees on loans $ 124,992 $ 86,735 $ 333,595 $ 266,310
Taxable interest and dividends on securities 29,280 14,314 88,277 36,977
Non-taxable interest and dividends on securities 1,917 1,848 5,585 5,561
Interest on federal funds sold and other short-term investments 1,638 571 2,726 1,434
Total interest and dividend income 157,827 103,468 430,183 310,282
Interest expense:        
Interest on deposits 4,781 736 11,164 2,769
Interest on borrowings 867 41 959 123
Total interest expense 5,648 777 12,123 2,892
Net interest income 152,179 102,691 418,060 307,390
Provision for (release of) allowance for loan losses 6,480 (1,488) 7,045 (5,368)
Net interest income after provision for loan losses 145,699 104,179 411,015 312,758
Noninterest income:        
Insurance commissions 23,788 21,956 77,183 73,767
Service charges on deposit accounts 6,708 5,935 23,558 17,010
Trust and investment advisory fees 5,832 6,310 17,967 18,047
Debit card processing fees 3,249 3,030 9,417 8,949
Interest rate swap income 1,562 881 6,087 5,122
(Losses) income from investments held in rabbi trusts (2,248) (289) (13,997) 5,773
Gains on sales of mortgage loans held for sale, net 22 717 240 3,044
(Losses) gains on sales of securities available for sale, net (198) 1 (2,474) 1,166
Other 4,638 4,668 13,664 11,276
Total noninterest income 43,353 43,209 131,645 144,154
Noninterest expense:        
Salaries and employee benefits 78,060 66,238 220,582 199,554
Office occupancy and equipment 9,703 7,960 31,205 24,271
Data processing 13,294 12,191 42,959 37,892
Professional services 5,826 4,024 14,561 14,611
Marketing expenses 2,219 1,598 6,444 6,786
Loan expenses 1,152 1,586 3,444 5,287
FDIC insurance 1,578 1,056 4,710 2,989
Amortization of intangible assets 1,033 629 2,767 1,786
Other 3,975 3,688 10,173 7,178
Total noninterest expense 116,840 98,970 336,845 300,354
Income before income tax expense 72,212 48,418 205,815 156,558
Income tax expense 17,435 11,312 48,350 36,980
Net income $ 54,777 $ 37,106 $ 157,465 $ 119,578
Basic earnings per share (in dollars per share) $ 0.33 $ 0.22 $ 0.94 $ 0.69
Diluted earnings per share (in dollars per share) $ 0.33 $ 0.22 $ 0.94 $ 0.69