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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest and fees on loans      
Taxable $ 335,639 $ 304,130 $ 202,004
Tax exempt 2,126 3,885 1,664
Interest and dividends on securities      
Taxable 12,048 13,153 14,132
Tax exempt 15,714 16,396 19,553
Other interest income 7,631 5,703 2,214
Total interest income 373,158 343,267 239,567
Interest on deposits 172,759 137,791 36,281
Interest on borrowings      
Short-term 3,720 8,441 272
Long-term 0 0 127
Total interest expense 176,479 146,232 36,680
NET INTEREST INCOME 196,679 197,035 202,887
Provision for credit losses 16,750 5,850 9,375
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 179,929 191,185 193,512
NONINTEREST INCOME      
Wealth advisory fees 10,469 9,080 8,636
Investment brokerage fees 1,894 1,815 2,318
Service charges on deposit accounts 11,157 10,773 11,595
Loan and service fees 11,832 11,750 12,214
Merchant and interchange fee income 3,542 3,651 3,560
Bank owned life insurance income 4,210 3,133 432
Interest rate swap fee income 0 794 579
Mortgage banking income (loss) 116 (254) 633
Net securities gains (losses) (46) (25) 21
Net gain on Visa shares 8,996 0 0
Other income 4,674 9,141 1,874
Total noninterest income 56,844 49,858 41,862
NONINTEREST EXPENSE      
Salaries and employee benefits 66,728 59,147 58,530
Net occupancy expense 6,865 6,360 6,287
Equipment costs 5,612 5,632 5,763
Data processing fees and supplies 15,161 14,003 12,826
Corporate and business development 4,965 4,807 5,198
FDIC insurance and other regulatory fees 3,465 3,363 1,999
Professional fees 8,950 8,583 6,483
Wire fraud loss 0 18,058 0
Other expense 13,338 10,757 13,124
Total noninterest expense 125,084 130,710 110,210
INCOME BEFORE INCOME TAX EXPENSE 111,689 110,333 125,164
Income tax expense 18,211 16,566 21,347
NET INCOME $ 93,478 $ 93,767 $ 103,817
BASIC WEIGHTED AVERAGE COMMON SHARES (in shares) 25,676,543 25,604,751 25,528,328
BASIC EARNINGS PER COMMON SHARE (in USD per share) $ 3.64 $ 3.67 $ 4.07
DILUTED WEIGHTED AVERAGE COMMON SHARES (in shares) 25,769,018 25,723,165 25,712,538
DILUTED EARNINGS PER COMMON SHARE (in USD per share) $ 3.63 $ 3.65 $ 4.04