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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED - 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 $ 154,339 $ 147,304 $ 456,309 $ 431,305
Interest on deposits with banks 6,191 6,371 17,401 13,979
Interest and dividend income on investment securities:        
Taxable 7,440 6,682 21,319 20,538
Tax-advantaged 1,762 1,811 5,385 5,376
Interest on federal funds sold 0 5 8 13
Total interest income 170,098 162,411 501,225 471,908
Interest expense:        
Interest on deposits 79,287 63,102 227,062 155,215
Interest on retail repurchase agreements and federal funds purchased 452 4,082 4,890 10,377
Interest on advances from FHLB 5,001 6,200 16,394 21,623
Interest on subordinated debt 3,946 3,946 11,839 11,839
Total interest expense 88,686 77,330 260,185 199,054
Net interest income 81,412 85,081 241,040 272,854
Provision/ (credit) for credit losses 6,316 2,365 9,724 (14,116)
Net interest income after provision/ (credit) for credit losses 75,096 82,716 231,316 286,970
Non-interest income:        
Income from bank owned life insurance 1,307 845 4,283 3,003
Other income 2,697 2,319 7,653 6,344
Total non-interest income 19,715 17,391 57,669 50,518
Non-interest expense:        
Salaries and employee benefits 41,030 44,853 115,549 124,710
Occupancy expense of premises 4,657 4,609 14,278 14,220
Equipment expense 3,841 3,811 11,672 11,688
Marketing 1,320 729 3,350 3,861
Outside data services 3,025 2,819 9,414 8,186
FDIC insurance 2,773 2,333 8,635 6,846
Amortization of intangible assets 2,323 1,245 6,527 3,820
Professional fees and services 6,577 4,509 16,403 12,354
Other expenses 7,391 7,563 23,219 22,227
Total non-interest expense 72,937 72,471 209,047 207,912
Income before income tax expense 21,874 27,636 79,938 129,576
Income tax expense 5,665 6,890 20,550 32,832
Net income $ 16,209 $ 20,746 $ 59,388 $ 96,744
Per share information:        
Basic net income per common share (in dollars per share) $ 0.36 $ 0.46 $ 1.32 $ 2.16
Diluted net income per common share (in dollars per share) 0.36 0.46 1.31 2.15
Dividends declared per share (in dollars per share) $ 0.34 $ 0.34 $ 1.02 $ 1.02
Mortgage loans held for sale        
Interest income:        
Interest on mortgage loans held for sale $ 364 $ 238 $ 801 $ 697
SBA loans held for sale        
Interest income:        
Interest on mortgage loans held for sale 2 0 2 0
Service charges on deposit accounts        
Non-interest income:        
Fees and commissions, mortgage banking and servicing 3,009 2,704 8,765 7,698
Mortgage banking activities        
Non-interest income:        
Fees and commissions, mortgage banking and servicing 1,529 1,682 4,524 4,744
Wealth management income        
Non-interest income:        
Fees and commissions, mortgage banking and servicing 10,738 9,391 31,151 27,414
Bank card fees        
Non-interest income:        
Fees and commissions, mortgage banking and servicing $ 435 $ 450 $ 1,293 $ 1,315