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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
INTEREST AND DIVIDEND INCOME    
Loans, including fees $ 133,406 $ 93,121
Interest and dividends on securities:    
Taxable 19,086 14,112
Tax-exempt 4,790 4,344
Total interest and dividends on securities 23,876 18,456
Other interest income 3,273 597
Total interest and dividend income 160,555 112,174
INTEREST EXPENSE    
Interest bearing demand deposits 11,106 811
Money market deposits 4,252 321
Savings deposits 4,000 264
Certificates of deposit 1,203 1,273
Total interest expense on deposits 20,561 2,669
Federal Home Loan Bank borrowings 11,300 575
Other short-term borrowings 418 48
Subordinated debt and junior subordinated debt 3,944 1,171
Total interest expense 36,223 4,463
NET INTEREST INCOME 124,332 107,711
Provision for credit losses 3,577 (3,438)
Net interest income after provision for credit losses 120,755 111,149
NON-INTEREST INCOME    
Trust fees 7,494 7,835
Service charges on deposits 6,170 6,090
Electronic banking fees 4,605 5,345
Net securities brokerage revenue 2,576 2,220
Bank-owned life insurance 1,959 3,881
Mortgage banking income 426 1,923
Net securities gains (losses) 145 (650)
Net gain (loss) on other real estate owned and other assets 232 (806)
Other income 4,046 4,544
Total non-interest income 27,653 30,382
NON-INTEREST EXPENSE    
Salaries and wages 41,952 38,937
Employee benefits 12,060 9,158
Net occupancy 6,643 7,234
Equipment and software 9,063 8,011
Marketing 2,325 2,421
FDIC insurance 2,884 1,522
Amortization of intangible assets 2,301 2,598
Restructuring and merger-related expense 3,153 1,593
Other operating expenses 15,744 16,074
Total non-interest expense 96,125 87,548
Income before provision for income taxes 52,283 53,983
Provision for income taxes 9,942 9,859
Net income 42,341 44,124
Preferred stock dividends 2,531 2,531
Net income available to common shareholders $ 39,810 $ 41,593
EARNINGS PER COMMON SHARE    
Basic $ 0.67 $ 0.68
Diluted $ 0.67 $ 0.68
AVERAGE COMMON SHARES OUTSTANDING    
Basic 59,217,711 61,445,399
Diluted 59,375,053 61,593,365
DIVIDENDS DECLARED PER COMMON SHARE $ 0.35 $ 0.34