XML 27 R5.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest income      
Interest and fees on loans $ 426,422 $ 385,848 $ 287,477
Interest and dividends on investment securities:      
Taxable interest income 72,794 80,316 66,140
Non-taxable interest income 1,176 2,678 3,272
Dividend income on bank stock 848 1,170 190
Other interest income 22,441 10,531 3,097
Total interest income 523,681 480,543 360,176
Interest expense      
Deposits 178,463 123,985 16,112
Federal funds purchased and securities sold under agreements to repurchase 4,308 5,203 1,475
Short-term borrowings 701 12,775 1,647
Long-term debt 300 1,700 1,310
Senior notes 0 0 637
Subordinated notes 12,650 12,406 12,338
Junior subordinated debt owed to unconsolidated trusts 4,648 3,853 3,029
Total interest expense 201,070 159,922 36,548
Net interest income 322,611 320,621 323,628
Provision for credit losses 8,590 2,399 4,623
Net interest income after provision for credit losses 314,021 318,222 319,005
Noninterest income      
Mortgage revenue 2,075 1,089 1,895
Income on bank owned life insurance 5,130 4,701 3,663
Realized net gains (losses) on the sale of mortgage servicing rights 7,724 0 0
Realized net gains (losses) on securities (7,033) (28) 50
Unrealized net gains (losses) recognized on equity securities 931 (2,171) (2,183)
Other noninterest income 14,309 10,078 14,632
Total noninterest income 139,682 121,214 126,613
Noninterest expense      
Salaries, wages, and employee benefits 175,619 162,597 159,016
Data processing 27,124 23,708 21,648
Net occupancy expense of premises 18,737 18,214 19,130
Furniture and equipment expenses 6,805 6,759 7,645
Professional fees 12,804 7,147 6,125
Amortization of intangible assets 10,057 10,432 11,628
Interchange expense 6,001 6,864 6,298
FDIC insurance 5,603 5,650 4,058
Other noninterest expense 37,649 44,161 48,333
Total noninterest expense 300,399 285,532 283,881
Income before income taxes 153,304 153,904 161,737
Income taxes 39,613 31,339 33,426
Net income $ 113,691 $ 122,565 $ 128,311
Basic earnings per common share (in dollars per share) $ 2.01 $ 2.21 $ 2.32
Diluted earnings per common share (in dollars per share) 1.98 2.18 2.29
Dividends declared per share of common stock (in dollars per share) $ 0.96 $ 0.96 $ 0.92
Wealth management fees      
Noninterest income      
Noninterest income $ 63,630 $ 57,309 $ 55,378
Fees for customer services      
Noninterest income      
Noninterest income 30,933 29,044 33,111
Payment technology solutions      
Noninterest income      
Noninterest income $ 21,983 $ 21,192 $ 20,067