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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        
Loans, including fees $ 290,104 $ 175,361 $ 508,512 $ 342,335
Interest and dividends on securities:        
Taxable 31,066 16,929 53,314 34,334
Tax-exempt 4,616 4,556 9,145 9,142
Total interest and dividends on securities 35,682 21,485 62,459 43,476
Other interest income 10,596 6,147 18,643 12,516
Total interest and dividend income 336,382 202,993 589,614 398,327
INTEREST EXPENSE        
Interest bearing demand deposits 30,405 26,925 59,782 52,516
Money market deposits 36,287 18,443 57,422 34,557
Savings deposits 8,670 7,883 16,029 15,549
Certificates of deposit 21,442 11,982 39,999 22,229
Total interest expense on deposits 96,804 65,233 173,232 124,851
Federal Home Loan Bank borrowings 16,683 16,227 29,718 33,227
Other short-term borrowings 816 896 1,938 1,570
Subordinated debt and junior subordinated debt 5,310 4,044 9,438 8,119
Total interest expense 119,613 86,400 214,326 167,767
NET INTEREST INCOME 216,769 116,593 375,288 230,560
Provision for credit losses 3,218 10,541 72,101 14,555
Net interest income after provision for credit losses 213,551 106,052 303,187 216,005
NON-INTEREST INCOME        
Trust fees 9,657 7,303 18,355 15,385
Service charges on deposits 10,484 7,111 19,070 13,895
Digital banking income 7,325 5,040 12,730 9,745
Net swap fee and valuation income 746 1,776 1,706 3,339
Net securities brokerage revenue 3,348 2,601 6,049 5,149
Bank-owned life insurance 3,450 2,791 6,878 4,859
Mortgage banking income 2,364 1,069 3,504 1,762
Net securities gains 1,410 135 1,092 672
Net gain on other real estate owned and other assets 111 34 71 188
Other income 5,062 3,495 9,167 6,990
Total non-interest income 43,957 31,355 78,622 61,984
NON-INTEREST EXPENSE        
Salaries and wages 60,153 43,991 108,730 86,988
Employee benefits 18,857 10,579 31,827 22,763
Net occupancy 8,119 6,309 15,897 12,932
Equipment and software 17,140 10,457 30,190 20,465
Marketing 1,864 2,371 4,246 4,256
FDIC insurance 5,479 3,523 9,666 6,971
Amortization of intangible assets 9,204 2,072 13,427 4,164
Restructuring and merger-related expense 41,056 3,777 61,066 3,777
Other operating expenses 24,663 19,313 45,451 37,269
Total non-interest expense 186,535 102,392 320,500 199,585
Income before provision for income taxes 70,973 35,015 61,309 78,404
Provision for income taxes 13,558 6,099 12,886 13,795
Net income 57,415 28,916 48,423 64,609
Preferred stock dividends 2,531 2,531 5,063 5,063
Net income available to common shareholders $ 54,884 $ 26,385 $ 43,360 $ 59,546
EARNINGS PER COMMON SHARE        
Basic $ 0.57 $ 0.44 $ 0.5 $ 1
Diluted $ 0.57 $ 0.44 $ 0.5 $ 1
AVERAGE COMMON SHARES OUTSTANDING        
Basic 95,744,980 59,521,872 86,339,970 59,452,315
Diluted 95,808,310 59,656,429 86,466,701 59,592,960
DIVIDENDS DECLARED PER COMMON SHARE $ 0.37 $ 0.36 $ 0.74 $ 0.72