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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        
Loans $ 201,927 $ 176,188 $ 396,625 $ 339,712
Securities        
Taxable 9,258 12,300 18,763 25,553
Tax-exempt 1,152 1,700 2,347 3,538
Other 7,874 6,978 15,655 12,408
Total interest income 220,211 197,166 433,390 381,211
Interest expense        
Deposits 87,621 51,391 170,234 84,257
Borrowings 7,564 15,559 14,840 30,963
Total interest expense 95,185 66,950 185,074 115,220
Net interest income 125,026 130,216 248,316 265,991
Provision for credit losses on loans 4,300 3,000 6,938 10,960
Recovery of credit losses on unfunded commitments (1,000) (1,000) (1,200) (2,500)
Provision for credit losses 3,300 2,000 5,738 8,460
Net interest income after provision for credit losses 121,726 128,216 242,578 257,531
Noninterest income        
Service charges on deposit accounts 10,286 9,733 20,792 18,853
Fees and commissions 3,944 4,987 7,893 9,663
Insurance commissions 2,758 2,809 5,474 5,255
Wealth management revenue 5,684 5,338 11,353 10,478
Mortgage banking income 9,698 9,771 21,068 18,288
Gain on debt extinguishment 0 0 56 0
Net loss on sales of securities 0 (22,438) 0 (22,438)
BOLI income 2,701 2,402 5,392 5,405
Other 3,691 4,624 8,115 9,015
Total noninterest income 38,762 17,226 80,143 54,519
Noninterest expense        
Salaries and employee benefits 70,731 70,637 142,201 140,469
Data processing 3,945 3,684 7,752 7,317
Net occupancy and equipment 11,844 11,865 23,233 23,270
Other real estate owned 105 51 212 81
Professional fees 3,195 4,012 6,543 7,479
Advertising and public relations 3,807 3,482 8,693 8,168
Intangible amortization 1,186 1,369 2,398 2,795
Communications 2,112 2,226 4,136 4,206
Other 15,051 12,839 29,720 25,588
Total noninterest expense 111,976 110,165 224,888 219,373
Income (loss) before income taxes 48,512 35,277 97,833 92,677
Income taxes 9,666 6,634 19,578 17,956
Net income (loss) $ 38,846 $ 28,643 $ 78,255 $ 74,721
Basic earnings per share (in usd per share) $ 0.69 $ 0.51 $ 1.39 $ 1.33
Diluted earnings per share (in usd per share) 0.69 0.51 1.38 1.33
Cash dividends per common share (in usd per share) $ 0.22 $ 0.22 $ 0.44 $ 0.44