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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest and fees on loans      
Taxable $ 304,130 $ 202,004 $ 170,081
Tax exempt 3,885 1,664 470
Interest and dividends on securities      
Taxable 13,153 14,132 9,086
Tax exempt 16,396 19,553 13,033
Other interest income 5,703 2,214 549
Total interest income 343,267 239,567 193,219
Interest on deposits 137,791 36,281 14,827
Interest on borrowings      
Short-term 8,441 272 7
Long-term 0 127 297
Total interest expense 146,232 36,680 15,131
NET INTEREST INCOME 197,035 202,887 178,088
Provision for credit losses 5,850 9,375 1,077
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 191,185 193,512 177,011
NONINTEREST INCOME      
Wealth advisory fees 9,080 8,636 8,750
Investment brokerage fees 1,815 2,318 1,975
Service charges on deposit accounts 10,773 11,595 10,608
Loan and service fees 11,750 12,214 11,922
Merchant and interchange fee income 3,651 3,560 3,023
Bank owned life insurance income 3,133 432 2,467
Interest rate swap fee income 794 579 1,035
Mortgage banking income (loss) (254) 633 1,418
Net securities gains (losses) (25) 21 797
Other income 9,141 1,874 2,725
Total noninterest income 49,858 41,862 44,720
NONINTEREST EXPENSE      
Salaries and employee benefits 59,147 58,530 57,882
Net occupancy expense 6,360 6,287 5,728
Equipment costs 5,632 5,763 5,530
Data processing fees and supplies 14,003 12,826 12,674
Corporate and business development 4,807 5,198 4,262
FDIC insurance and other regulatory fees 3,363 1,999 2,242
Professional fees 8,583 6,483 7,064
Wire fraud loss 18,058 0 0
Other expense 10,757 13,124 8,905
Total noninterest expense 130,710 110,210 104,287
INCOME BEFORE INCOME TAX EXPENSE 110,333 125,164 117,444
Income tax expense 16,566 21,347 21,711
NET INCOME $ 93,767 $ 103,817 $ 95,733
BASIC WEIGHTED AVERAGE COMMON SHARES (in shares) 25,604,751 25,528,328 25,475,994
BASIC EARNINGS PER COMMON SHARE (in USD per share) $ 3.67 $ 4.07 $ 3.76
DILUTED WEIGHTED AVERAGE COMMON SHARES (in shares) 25,723,165 25,712,538 25,620,105
DILUTED EARNINGS PER COMMON SHARE (in USD per share) $ 3.65 $ 4.04 $ 3.74