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Consolidated Statements of Earnings (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
INTEREST INCOME:        
Interest and fees on loans $ 106,377,000 $ 77,523,000 $ 293,453,000 $ 210,180,000
Interest on investment securities:        
Taxable 19,425,000 20,799,000 60,240,000 57,772,000
Exempt from federal income tax 8,757,000 12,974,000 28,145,000 41,686,000
Interest on federal funds sold and interest-bearing demand deposits in banks 792,000 1,432,000 4,026,000 2,080,000
Total interest income 135,351,000 112,728,000 385,864,000 311,718,000
INTEREST EXPENSE:        
Interest on deposits 36,165,000 8,788,000 85,606,000 13,123,000
Interest on borrowings 5,037,000 784,000 13,957,000 1,217,000
Total interest expense 41,202,000 9,572,000 99,563,000 14,340,000
Net interest income 94,149,000 103,156,000 286,301,000 297,378,000
Provision for credit losses 2,276,000 3,221,000 10,631,000 13,353,000
Net interest income after provision for credit losses 91,873,000 99,935,000 275,670,000 284,025,000
NONINTEREST INCOME:        
Trust fees 10,050,000 10,314,000 29,778,000 29,873,000
Service charges on deposit accounts 6,509,000 6,399,000 18,855,000 18,143,000
Debit card fees 5,041,000 5,587,000 16,697,000 24,381,000
Credit card fees 694,000 651,000 2,014,000 1,953,000
Gain on sale and fees on mortgage loans 3,442,000 4,070,000 9,950,000 16,131,000
Net gain (loss) on sale of available-for-sale securities (972,000) 334,000 (914,000) 2,013,000
Net gain (loss) on sale of foreclosed assets (10,000) 349,000 23,000 1,451,000
Net gain on sale of other assets 696,000 526,000 1,626,000 522,000
Interest on loan recoveries 698,000 664,000 1,519,000 2,596,000
Other 1,922,000 2,049,000 6,477,000 6,078,000
Total noninterest income 28,070,000 30,943,000 86,025,000 103,141,000
NONINTEREST EXPENSE:        
Salaries, commissions and employee benefits 32,935,000 33,892,000 96,162,000 101,177,000
Net occupancy expense 3,565,000 3,440,000 10,418,000 9,957,000
Equipment expense 2,200,000 2,396,000 6,525,000 6,999,000
FDIC insurance premiums 1,573,000 917,000 4,644,000 2,690,000
Debit card expense 3,284,000 3,013,000 9,704,000 9,177,000
Professional and service fees 2,425,000 2,219,000 7,187,000 6,635,000
Printing, stationery and supplies 512,000 600,000 1,962,000 1,641,000
Operational and other losses 959,000 869,000 2,746,000 2,247,000
Software amortization and expense 2,441,000 2,564,000 7,271,000 7,543,000
Amortization of intangible assets 228,000 306,000 684,000 946,000
Other 9,417,000 9,226,000 27,104,000 27,988,000
Total noninterest expense 59,539,000 59,442,000 174,407,000 177,000,000
EARNINGS BEFORE INCOME TAXES 60,404,000 71,436,000 187,288,000 210,166,000
INCOME TAX EXPENSE 10,848,000 12,095,000 34,291,000 34,359,000
NET EARNINGS $ 49,556,000 $ 59,341,000 $ 152,997,000 $ 175,807,000
NET EARNINGS PER SHARE, BASIC $ 0.35 $ 0.42 $ 1.07 $ 1.23
NET EARNINGS PER SHARE, DILUTED 0.35 0.41 1.07 1.23
DIVIDENDS PER SHARE $ 0.18 $ 0.17 $ 0.53 $ 0.49