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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest Income        
Interest and fees on loans $ 111,076 $ 106,514 $ 331,346 $ 308,857
Interest on investment securities:        
Taxable interest income 10,779 12,936 34,798 39,415
Tax-exempt interest income 1,116 1,118 3,350 3,368
Other, principally overnight investments 8,438 3,283 17,351 10,546
Total interest income 131,409 123,851 386,845 362,186
Interest Expense        
Interest on deposits 46,420 32,641 130,299 78,887
Interest on borrowings 1,946 6,508 13,114 19,125
Total interest expense 48,366 39,149 143,413 98,012
Net interest income 83,043 84,702 243,432 264,174
Provision for credit losses 14,200 0 15,941 14,864
Net interest income after provision for credit losses 68,843 84,702 227,491 249,310
Noninterest Income        
Service charges on deposit accounts 4,320 4,661 12,327 13,012
Other service charges and fees 5,555 5,450 16,439 16,677
Presold mortgage loan fees and gains on sale 690 325 1,616 1,288
Commissions from sales of financial products 1,371 1,207 4,068 3,926
SBA loan sale gains 1,108 1,101 3,339 2,052
Bank-owned life insurance income 1,205 1,104 3,548 3,216
Securities losses, net 0 0 (1,161) 0
Other income, net (670) 1,329 900 2,777
Total noninterest income 13,579 15,177 41,076 42,948
Noninterest Expense        
Salaries incentives and commissions expense 29,955 29,394 85,406 87,391
Employee benefit expense 6,495 6,539 19,467 19,097
Total personnel expense 36,450 35,933 104,873 106,488
Occupancy and equipment expense 4,856 5,003 15,294 15,042
Merger and acquisition expenses 0 0 0 13,506
Intangibles amortization expense 1,613 1,953 5,041 6,147
Other operating expenses 16,931 19,335 52,120 56,809
Total noninterest expenses 59,850 62,224 177,328 197,992
Income before income taxes 22,572 37,655 91,239 94,266
Income tax expense 3,892 7,762 18,575 19,809
Net income $ 18,680 $ 29,893 $ 72,664 $ 74,457
Earnings per common share:        
Basic (in dollars per share) $ 0.45 $ 0.73 $ 1.76 $ 1.82
Diluted (in dollars per share) $ 0.45 $ 0.73 $ 1.76 $ 1.81
Weighted average common shares outstanding:        
Basic (in shares) 40,971,520 40,744,042 40,924,822 40,691,751
Diluted (in shares) 41,366,743 41,199,058 41,294,137 41,149,990