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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
INTEREST INCOME        
Loans, including fees $ 137,710 $ 114,612 $ 269,836 $ 219,008
Securities:        
Taxable 8,932 9,408 18,113 18,399
Tax-exempt 18 23 38 30
Federal funds sold 5 81 24 113
Interest-bearing deposits with banks 31,800 26,694 62,097 58,714
Total interest income 178,465 150,818 350,108 296,264
INTEREST EXPENSE        
Deposits 67,479 43,732 131,892 78,909
Short-term borrowings 59 129 155 212
Subordinated debt 1,031 1,031 2,061 2,061
Total interest expense 68,569 44,892 134,108 81,182
Net interest income 109,896 105,926 216,000 215,082
Provision for credit losses 3,358 2,824 7,373 5,146
Net interest income after provision for credit losses 106,538 103,102 208,627 209,936
NONINTEREST INCOME        
Securities transactions 317 110 50 (103)
Sales of loans 733 757 1,224 1,361
Insurance commissions 6,668 6,225 16,123 14,966
Cash management 9,149 7,927 17,800 14,661
Gain/(loss) on sale of other assets 55 315 (4) 794
Other 4,252 5,782 9,365 11,812
Total noninterest income 43,944 47,974 88,844 95,802
NONINTEREST EXPENSE        
Salaries and employee benefits 51,928 49,803 103,456 99,055
Occupancy, net 5,233 5,118 10,439 10,101
Depreciation 4,504 4,769 9,060 9,412
Amortization of intangible assets 887 880 1,773 1,760
Data processing services 2,696 2,217 5,312 4,324
Net expense from other real estate owned 1,656 2,889 3,858 5,348
Marketing and business promotion 2,246 1,900 4,502 4,427
Deposit insurance 1,614 1,463 3,052 3,076
Other 14,552 12,071 26,643 23,924
Total noninterest expense 85,316 81,110 168,095 161,427
Income before taxes 65,166 69,966 129,376 144,311
Income tax expense 14,525 14,956 28,401 31,768
Net income $ 50,641 $ 55,010 $ 100,975 $ 112,543
NET INCOME PER COMMON SHARE        
Basic $ 1.53 $ 1.67 $ 3.06 $ 3.42
Diluted $ 1.51 $ 1.64 $ 3.01 $ 3.36
OTHER COMPREHENSIVE GAIN/(LOSS)        
Unrealized income/(loss) on debt securities, net of tax (expense)/benefit of $(1,263), $4,350, $(535) and $(154), respectively $ 4,105 $ (14,091) $ 1,801 $ 558
Other comprehensive income/(loss), net of tax (expense)/benefit of $(1,263), $4,350, $(535) and $(154), respectively 4,105 (14,091) 1,801 558
Comprehensive income 54,746 40,919 102,776 113,101
Trust Revenue [Member]        
NONINTEREST INCOME        
Revenue 5,490 4,590 10,578 8,812
Service Charges on Deposits [Member]        
NONINTEREST INCOME        
Revenue $ 17,280 $ 22,268 $ 33,708 $ 43,499