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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
INTEREST INCOME        
Interest and fees on loans $ 106,514 $ 72,239 $ 308,857 $ 201,518
Interest on investment securities:        
Taxable interest income 12,936 13,450 39,415 40,045
Tax-exempt interest income 1,118 1,115 3,368 3,267
Other, principally overnight investments 3,283 1,486 10,546 3,016
Total interest income 123,851 88,290 362,186 247,846
INTEREST EXPENSE        
Interest on deposits 32,641 1,848 78,887 5,204
Interest on borrowings 6,508 1,108 19,125 2,160
Total interest expense 39,149 2,956 98,012 7,364
Net interest income 84,702 85,334 264,174 240,482
Provision for loan losses 1,200 5,100 16,351 8,600
(Reversal of) provision for unfunded commitments (1,200) 300 (1,487) (1,200)
Total provision for credit losses 0 5,400 14,864 7,400
Net interest income after provision for credit losses 84,702 79,934 249,310 233,082
NONINTEREST INCOME        
Service charges on deposit accounts 4,661 4,166 13,012 11,407
Other service charges and fees 5,450 6,312 16,677 21,200
Fees from presold mortgage loans 325 376 1,288 1,951
Commissions from sales of financial products 1,207 1,391 3,926 3,487
SBA consulting fees 478 479 1,408 1,963
SBA loan sale gains 1,101 479 2,052 4,581
Bank-owned life insurance income 1,104 962 3,216 2,880
Other gains, net 851 2,747 1,369 5,958
Total noninterest income 15,177 16,912 42,948 53,427
NONINTEREST EXPENSE        
Salaries expense 29,394 24,416 87,391 71,669
Employee benefits expense 6,539 4,156 19,097 16,044
Total personnel expense 35,933 28,572 106,488 87,713
Occupancy expense 3,409 3,175 10,644 9,681
Equipment related expenses 1,594 1,672 4,398 4,490
Merger and acquisition expenses 0 548 13,506 4,769
Intangibles amortization expense 1,953 889 6,147 2,859
Other operating expenses 19,335 13,844 56,809 40,051
Total noninterest expenses 62,224 48,700 197,992 149,563
Income before income taxes 37,655 48,146 94,266 136,946
Income tax expense 7,762 10,197 19,809 28,443
Net income $ 29,893 $ 37,949 $ 74,457 $ 108,503
Earnings per common share:        
Basic (in dollars per share) $ 0.73 $ 1.06 $ 1.82 $ 3.04
Diluted (in dollars per share) 0.73 1.06 1.81 3.04
Dividends declared per common share (in dollars per share) $ 0.22 $ 0.22 $ 0.66 $ 0.66
Weighted average common shares outstanding:        
Basic (in shares) 40,744,042 35,469,001 40,691,751 35,474,239
Diluted (in shares) 41,199,058 35,703,446 41,149,990 35,662,527