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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 119,564 $ 108,699 $ 238,141 $ 211,423
Investment Securities:        
Taxable 8,761 7,806 17,356 15,263
Tax-exempt 168 215 361 429
Dividends 272 613 661 1,121
Total Interest and Dividend Income 128,765 117,333 256,519 228,236
INTEREST EXPENSE        
Deposits 39,629 20,102 76,291 35,005
Borrowings, junior subordinated debt securities and other 5,542 9,108 13,157 16,317
Total Interest Expense 45,171 29,210 89,448 51,322
NET INTEREST INCOME 83,594 88,123 167,071 176,914
Provision for credit losses 422 10,529 3,049 11,451
Net Interest Income After Provision for Credit Losses 83,172 77,594 164,022 165,463
NONINTEREST INCOME        
Net loss on sale of securities (3,150) 0 (3,147) 0
Mortgage banking 254 289 531 590
Other 4,404 2,144 5,849 3,636
Total Noninterest Income 13,305 14,191 26,135 27,381
NONINTEREST EXPENSE        
Salaries and employee benefits 30,388 25,391 59,900 52,992
Data processing and information technology 4,215 4,177 9,169 8,435
Occupancy 3,649 3,710 7,519 7,545
Furniture, equipment and software 3,382 3,192 6,854 6,053
Marketing 1,404 1,459 3,347 3,312
Other taxes 1,433 1,322 3,304 3,112
Professional services and legal 1,403 2,069 3,123 3,890
FDIC insurance 1,053 1,032 2,102 2,044
Other 6,681 7,281 12,810 13,949
Total Noninterest Expense 53,608 49,633 108,128 101,332
Income Before Taxes 42,869 42,152 82,029 91,512
Income tax expense 8,498 7,685 16,419 17,246
Net Income $ 34,371 $ 34,467 $ 65,610 $ 74,266
Earnings per share—basic (in dollars per share) $ 0.90 $ 0.89 $ 1.72 $ 1.92
Earnings per share—diluted (in dollars per share) 0.89 0.89 1.70 1.91
Dividends declared per common share (in dollars per share) $ 0.33 $ 0.32 $ 0.66 $ 0.64
Comprehensive Income $ 38,134 $ 17,082 $ 62,576 $ 72,348
Debit and credit card        
NONINTEREST INCOME        
Revenues from contract with customers 4,713 4,645 8,948 9,018
Service charges on deposit accounts        
NONINTEREST INCOME        
Revenues from contract with customers 4,089 3,928 7,917 8,004
Wealth management        
NONINTEREST INCOME        
Revenues from contract with customers $ 2,995 $ 3,185 $ 6,037 $ 6,133