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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income        
Loans $ 184,880 $ 125,175 $ 524,592 $ 332,862
Securities        
Taxable 9,439 12,636 34,992 32,137
Tax-exempt 1,230 1,864 4,768 5,669
Other 10,128 3,458 22,536 6,076
Total interest income 205,677 143,133 586,888 376,744
Interest expense        
Deposits 70,906 7,241 155,163 17,896
Borrowings 7,388 5,574 38,351 15,386
Total interest expense 78,294 12,815 193,514 33,282
Net interest income 127,383 130,318 393,374 343,462
Provision for credit losses on loans 5,315 9,800 16,275 13,300
Net interest income after provision for credit losses 122,068 120,518 377,099 330,162
Noninterest income        
Service charges on deposit accounts 9,743 10,216 28,596 29,512
Fees and commissions 4,108 4,148 13,771 12,798
Insurance commissions 3,264 3,108 8,519 8,253
Wealth management revenue 5,986 5,467 16,464 17,102
Mortgage banking income 7,533 12,675 25,821 30,624
Net loss on sales of securities 0 0 (22,438) 0
BOLI income 2,469 2,296 7,874 6,780
Other 5,097 3,276 14,112 10,789
Total noninterest income 38,200 41,186 92,719 115,858
Noninterest expense        
Salaries and employee benefits 69,458 66,463 209,927 194,282
Data processing 3,907 3,526 11,224 11,379
Net occupancy and equipment 11,548 11,266 34,818 33,697
Other real estate owned (120) 34 (39) (394)
Professional fees 3,338 3,087 10,817 9,016
Advertising and public relations 3,474 3,229 11,642 10,694
Intangible amortization 1,311 1,251 4,106 3,927
Communications 2,006 1,999 6,212 5,930
Merger and conversion related expenses 0 0 0 687
Restructuring charges 0 0 0 732
Other 12,747 10,719 35,835 23,923
Total noninterest expense 107,669 101,574 324,542 293,873
Income (loss) before income taxes 52,599 60,130 145,276 152,147
Income taxes 10,766 13,563 28,722 32,355
Net income (loss) $ 41,833 $ 46,567 $ 116,554 $ 119,792
Basic earnings per share (in usd per share) $ 0.75 $ 0.83 $ 2.08 $ 2.14
Diluted earnings per share (in usd per share) 0.74 0.83 2.07 2.13
Cash dividends per common share (in usd per share) $ 0.22 $ 0.22 $ 0.66 $ 0.66