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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 and fees on loans $ 120,145 $ 111,048 $ 240,233 $ 217,951
Interest and dividends on investment securities:        
Taxable 4,683 4,029 9,017 8,258
Tax-exempt 1,121 1,247 2,275 2,339
Dividends 1,217 945 2,342 1,843
Interest on federal funds sold and other short-term investments 2,841 4,056 5,747 7,031
Total interest income 130,007 121,325 259,614 237,422
Interest expense        
Deposits 62,086 50,714 122,493 90,801
Borrowings 6,482 6,768 15,382 15,694
Total interest expense 68,568 57,482 137,875 106,495
Net interest income 61,439 63,843 121,739 130,927
Provision for credit losses 2,500 3,000 6,500 4,000
Net interest income after provision for credit losses 58,939 60,843 115,239 126,927
Noninterest income        
Deposit, loan and other income 1,654 1,545 3,246 2,948
Income on bank owned life insurance 1,677 1,553 3,341 3,084
Net gains on sale of loans held-for-sale 1,277 550 1,783 599
Net losses on equity securities (209) (210) (123) (401)
Total noninterest income 4,399 3,438 8,247 6,230
Noninterest expenses        
Salaries and employee benefits 22,786 21,751 44,982 44,013
Occupancy and equipment 2,899 2,677 5,908 5,438
FDIC insurance 1,800 1,715 3,600 2,665
Professional and consulting 1,923 1,932 3,851 4,126
Marketing and advertising 613 556 1,290 1,088
Information technology and communications 4,198 3,644 8,587 6,705
Amortization of core deposit intangibles 321 371 642 743
Other components of net periodic pension expense (65) (25) (130) (51)
Other expenses 3,119 2,829 5,929 5,593
Total noninterest expenses 37,594 35,450 74,659 70,320
Income before income tax expense 25,744 28,831 48,827 62,837
Income tax expense 6,688 7,437 12,566 16,514
Net income 19,056 21,394 36,261 46,323
Preferred dividends 1,509 1,509 3,018 3,018
Net income available to common stockholders $ 17,547 $ 19,885 $ 33,243 $ 43,305
Earnings per common share:        
Basic (in dollars per share) $ 0.46 $ 0.51 $ 0.87 $ 1.11
Diluted (in dollars per share) $ 0.46 $ 0.51 $ 0.86 $ 1.1