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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Business Combination, Acquisition Related Costs $ 0 $ 1,731 $ 7,100 $ 1,731
Interest income        
Interest and fees on loans 133,988 88,814 263,613 181,197
Interest Income, Securities, Operating, Taxable 11,281 7,184 21,324 13,811
Nontaxable interest and dividends on securities 2 5 3 10
Interest on loans held for sale 35 186 99 482
Interest on federal funds sold and short-term investments 2,817 513 3,703 839
Total interest and dividend income 148,123 96,702 288,742 196,339
Interest expense        
Interest on deposits 2,111 2,017 4,218 4,728
Interest on borrowings 1,151 1,331 2,231 2,673
Total interest expense 3,262 3,348 6,449 7,401
Net interest income 144,861 93,354 282,293 188,938
Release of provision for credit losses 0 (5,000) (2,000) (7,500)
Net interest income after provision for credit losses 144,861 98,354 284,293 196,438
Noninterest income        
Deposit account fees 5,828 3,822 11,321 7,406
Interchange and ATM fees 4,027 3,068 7,636 5,788
Investment Banking, Advisory, Brokerage, and Underwriting Fees and Commissions 9,329 8,872 18,002 17,176
Mortgage banking income 1,042 2,705 2,404 8,445
Bank Owned Life Insurance Income 1,871 1,589 3,666 2,912
Gain Realized on Life Insurance Policies (123) 0 (123) (258)
Loan level derivative income 436 116 1,040 289
Other noninterest income 5,242 4,795 9,978 7,939
Total noninterest income 27,898 24,967 54,170 50,213
Noninterest expenses        
Salaries and employee benefits 49,538 42,635 98,249 82,524
Occupancy and equipment expenses 11,637 8,706 24,939 17,979
Data processing & facilities management 2,247 1,686 4,619 3,351
Business Combination, Acquisition Related Costs 0 1,731 7,100 1,731
Software Maintenance 2,645 1,915 5,209 3,885
Amortization of Intangible Assets 1,902 1,314 3,903 2,727
FDIC assessment 1,743 775 3,548 1,825
Debit card expense 1,861 1,165 3,626 2,346
Professional Fees 2,760 1,492 4,510 3,883
Other noninterest expenses 16,229 11,883 30,359 22,733
Total noninterest expenses 90,562 73,302 186,062 142,984
Income before income taxes 82,197 50,019 152,401 103,667
Current Federal, State and Local, Tax Expense (Benefit) 20,421 12,447 37,528 24,384
Net income $ 61,776 $ 37,572 $ 114,873 $ 79,283
Basic earnings per share (in dollars per share) $ 1.32 $ 1.14 $ 2.44 $ 2.40
Diluted earnings per share (in dollars per share) $ 1.32 $ 1.14 $ 2.44 $ 2.40
Weighted average common shares (basic) (in shares) 46,665,101 33,033,578 47,013,989 33,014,561
Common shares equivalents (in shares) 14,096 21,270 17,403 25,085
Weighted average common shares (diluted) (in shares) 46,679,197 33,054,848 47,031,392 33,039,646
Retained Earnings [Member]        
Noninterest expenses        
Net income $ 61,776 $ 37,572 $ 114,873 $ 79,283
Cash dividends declared per common share (in dollars per share) $ 0.51 $ 0.48 $ 1.02 $ 0.96