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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income        
Interest and fees on loans $ 109,641 $ 94,804 $ 208,966 $ 184,579
Interest and dividends on investment securities:        
Taxable interest income 18,878 20,076 38,475 39,675
Non-taxable interest income 295 708 635 1,451
Other interest income 3,027 1,311 9,498 2,299
Total interest income 131,841 116,899 257,574 228,004
Interest expense        
Deposits 43,709 26,768 87,677 41,508
Federal funds purchased and securities sold under agreements to repurchase 1,040 1,223 2,412 2,445
Short-term borrowings 418 5,741 650 10,563
Long-term debt 4 452 300 906
Subordinated notes 3,177 3,100 6,286 6,197
Junior subordinated debt owed to unconsolidated trusts 1,059 945 2,048 1,858
Total interest expense 49,407 38,229 99,373 63,477
Net interest income 82,434 78,670 158,201 164,527
Provision for credit losses 2,277 627 7,315 1,580
Net interest income after provision for credit losses 80,157 78,043 150,886 162,947
Noninterest income        
Mortgage revenue 478 272 1,224 560
Income on bank owned life insurance 1,442 1,029 2,861 2,681
Realized gain on the sale of mortgage servicing rights 277 0 7,742 0
Realized net gains (losses) on securities (4) (178) (6,806) (174)
Unrealized net gains (losses) recognized on equity securities (349) (1,881) 78 (2,501)
Other noninterest income 2,327 1,738 5,758 5,331
Total noninterest income 33,801 28,012 68,801 59,860
Noninterest expense        
Salaries, wages, and employee benefits 43,478 39,859 85,568 80,190
Data processing 7,100 5,902 13,650 11,542
Net occupancy expense of premises 4,590 4,540 9,310 9,302
Furniture and equipment expenses 1,695 1,681 3,508 3,427
Professional fees 2,495 973 4,748 3,031
Amortization of intangible assets 2,629 2,669 5,038 5,398
Interchange expense 1,733 1,870 3,344 3,723
FDIC insurance 1,460 1,506 2,860 3,008
Other noninterest expense 10,357 10,205 18,280 19,987
Total noninterest expense 75,537 69,205 146,306 139,608
Income before income taxes 38,421 36,850 73,381 83,199
Income taxes 11,064 7,486 19,799 17,049
Net income $ 27,357 $ 29,364 $ 53,582 $ 66,150
Basic earnings per common share (in dollars per share) $ 0.48 $ 0.53 $ 0.95 $ 1.19
Diluted earnings per common share (in dollars per share) 0.47 0.52 0.94 1.18
Dividends declared per share of common stock (in dollars per share) $ 0.24 $ 0.24 $ 0.48 $ 0.48
Wealth management fees        
Noninterest income        
Noninterest income $ 15,917 $ 14,562 $ 31,466 $ 29,359
Fees for customer services        
Noninterest income        
Noninterest income 7,798 7,239 14,854 14,058
Payment technology solutions        
Noninterest income        
Noninterest income $ 5,915 $ 5,231 $ 11,624 $ 10,546