XML 12 R2.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
Interest and fees on loans $ 73,970 $ 64,424 $ 210,395 $ 187,070
Interest and dividends on securities 15,791 7,918 38,497 21,070
Interest on interest bearing deposits and other investments 1,643 867 4,493 2,162
Total Interest Income 91,404 73,209 253,385 210,302
Interest on deposits 1,623 849 3,384 2,894
Interest on time certificates 380 583 1,284 2,294
Interest on borrowed money 1,117 453 2,264 1,378
Total Interest Expense 3,120 1,885 6,932 6,566
Net Interest Income 88,284 71,324 246,453 203,736
Provision for credit losses 4,676 5,091 12,054 (5,479)
Net Interest Income after Provision for Credit Losses 83,608 66,233 234,399 209,215
Noninterest income:        
Service charges on deposit accounts 3,504 2,495 9,713 7,171
Interchange income 4,138 4,131 12,521 12,096
Wealth management income 2,732 2,562 8,165 7,272
Mortgage banking fees 434 2,550 3,052 9,752
Marine finance fees 209 152 712 518
SBA gains 108 812 737 1,331
BOLI income 1,363 1,128 4,046 2,859
Other 3,977 5,228 10,608 11,221
Noninterest income, excluding securities gains (losses) 16,465 19,058 49,554 52,220
Securities losses, net (362) (30) (1,114) (199)
Total Noninterest Income 16,103 19,028 48,440 52,021
Noninterest Expense:        
Salaries and wages 28,420 27,919 84,695 72,278
Employee benefits 4,074 4,177 13,726 13,110
Outsourced data processing costs 5,393 5,610 17,592 14,754
Telephone / data lines 973 810 2,614 2,433
Occupancy 5,046 3,541 13,082 10,640
Furniture and equipment 1,462 1,567 4,476 3,987
Marketing 1,461 1,353 4,514 3,523
Legal and professional fees 3,794 4,151 11,529 8,915
FDIC assessments 760 651 2,248 1,692
Amortization of intangibles 1,446 1,306 4,338 3,729
Foreclosed property expense and net loss (gain) on sale 9 66 (1,123) (89)
Provision for credit losses on unfunded commitments 1,015 133 1,157 133
Other 7,506 3,984 17,576 12,067
Total Noninterest Expense 61,359 55,268 176,424 147,172
Income Before Income Taxes 38,352 29,993 106,415 114,064
Provision for income taxes 9,115 7,049 23,835 25,991
Net Income $ 29,237 $ 22,944 $ 82,580 $ 88,073
Net income per share of common stock        
Diluted (in dollars per share) $ 0.47 $ 0.40 $ 1.33 $ 1.56
Basic (in dollars per share) $ 0.48 $ 0.40 $ 1.35 $ 1.57
Average common shares outstanding        
Diluted (in shares) 61,961 57,645 61,867 56,441
Basic (in shares) 61,442 57,148 61,327 55,954