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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income        
Loans $ 206,867 $ 184,880 $ 603,492 $ 524,592
Securities        
Taxable 9,212 9,439 27,975 34,992
Tax-exempt 1,092 1,230 3,439 4,768
Other 11,872 10,128 27,527 22,536
Total interest income 229,043 205,677 662,433 586,888
Interest expense        
Deposits 90,787 70,906 261,021 155,163
Borrowings 7,258 7,388 22,098 38,351
Total interest expense 98,045 78,294 283,119 193,514
Net interest income 130,998 127,383 379,314 393,374
Provision for credit losses on loans 1,210 5,315 8,148 16,275
Recovery of credit losses on unfunded loan commitments (275) (700) (1,475) (3,200)
Provision for credit losses 935 4,615 6,673 13,075
Net interest income after provision for credit losses 130,063 122,768 372,641 380,299
Noninterest income        
Service charges on deposit accounts 10,438 9,743 31,230 28,596
Fees and commissions 4,116 4,108 12,009 13,771
Insurance commissions 0 3,264 5,474 8,519
Wealth management revenue 5,835 5,986 17,188 16,464
Mortgage banking income 8,447 7,533 29,515 25,821
Gain on sale of insurance agency 53,349 0 53,349 0
Gain on debt extinguishment 0 0 56 0
Net loss on sales of securities 0 0 0 (22,438)
BOLI income 2,858 2,469 8,250 7,874
Other 4,256 5,097 12,371 14,112
Total noninterest income 89,299 38,200 169,442 92,719
Noninterest expense        
Salaries and employee benefits 71,307 69,458 213,508 209,927
Data processing 4,133 3,907 11,885 11,224
Net occupancy and equipment 11,415 11,548 34,648 34,818
Other real estate owned 56 (120) 268 (39)
Professional fees 3,189 3,338 9,732 10,817
Advertising and public relations 3,677 3,474 12,370 11,642
Intangible amortization 1,160 1,311 3,558 4,106
Communications 2,176 2,006 6,312 6,212
Merger and conversion related expenses 11,273 0 11,273 0
Other 13,597 13,447 43,317 39,035
Total noninterest expense 121,983 108,369 346,871 327,742
Income (loss) before income taxes 97,379 52,599 195,212 145,276
Income taxes 24,924 10,766 44,502 28,722
Net income (loss) $ 72,455 $ 41,833 $ 150,710 $ 116,554
Basic earnings per share (in usd per share) $ 1.18 $ 0.75 $ 2.60 $ 2.08
Diluted earnings per share (in usd per share) 1.18 0.74 2.59 2.07
Cash dividends per common share (in usd per share) $ 0.22 $ 0.22 $ 0.66 $ 0.66