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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Loans, including fees $ 72,308 $ 50,612 $ 141,095 $ 95,355
Federal funds sold and interest bearing due from banks 1,664 1,113 3,245 1,395
Mortgage loans held for sale 77 50 118 74
Federal Home Loan Bank stock 275 102 440 156
Investment securities:        
Taxable 8,299 6,805 16,745 11,485
Tax-exempt 440 426 887 627
Total interest income 83,063 59,108 162,530 109,092
Interest expense:        
Deposits 17,081 1,770 30,580 2,941
Securities sold under agreements to repurchase 376 57 832 74
Federal funds purchased and other short-term borrowings 170 19 347 22
Federal Home Loan Bank advances 3,962 0 5,696 0
Subordinated debentures 545 278 1,074 311
Total interest expense 22,134 2,124 38,529 3,348
Net interest income 60,929 56,984 124,001 105,744
Provision for credit losses 2,350 (200) 4,975 2,079
Net interest income after provision expense 58,579 57,184 119,026 103,665
Non-interest income:        
Mortgage banking income [1] 1,030 1,295 2,068 2,298
Bank owned life insurance [1] 559 270 1,108 536
Loss on sale of premises and equipment [1] (225) (2) (227) (28)
Total non-interest income 22,860 21,940 44,907 41,143
Non-interest expenses:        
Compensation 22,107 22,204 44,003 40,173
Employee benefits 5,061 4,429 10,114 8,968
Net occupancy and equipment 3,514 3,663 7,413 6,688
Technology and communication 4,219 3,984 8,470 7,403
Debit and credit card processing 1,706 1,665 3,125 3,002
Marketing and business development 1,784 1,445 2,879 2,217
Postage, printing and supplies 889 825 1,763 1,558
Legal and professional 819 1,027 1,616 1,677
FDIC insurance 779 536 1,914 1,181
Amortization of investments in tax credit partnerships 324 89 647 177
Capital and deposit based taxes 607 582 1,246 1,100
Merger expenses 0 0 0 19,500
Intangible amortization 1,172 1,611 2,352 2,324
Other 2,819 2,615 5,572 5,004
Total non-interest expenses 45,800 44,675 91,114 100,972
Income before income tax expense 35,639 34,449 72,819 43,836
Income tax expense 7,975 7,547 16,107 8,992
Net income 27,664 26,902 56,712 34,844
Less income attributed to non-controlling interest 0 108 0 144
Net income available to stockholders $ 27,664 $ 26,794 $ 56,712 $ 34,700
Net income per common share - basic (in dollars per share) $ 0.95 $ 0.92 $ 1.94 $ 1.23
Net income per common share - diluted (in dollars per share) $ 0.94 $ 0.91 $ 1.93 $ 1.22
Weighted average outstanding shares        
Basic (in shares) 29,223 29,131 29,200 28,186
Diluted (in shares) 29,340 29,346 29,353 28,421
Fiduciary and Trust [Member]        
Non-interest income:        
Non-interest income $ 10,146 $ 9,495 $ 19,673 $ 17,738
Deposit Account [Member]        
Non-interest income:        
Non-interest income 2,201 2,061 4,350 3,924
Credit and Debit Card [Member]        
Non-interest income:        
Non-interest income 4,712 4,748 9,194 8,867
Treasury Management [Member]        
Non-interest income:        
Non-interest income 2,549 2,187 4,867 4,091
Investment Advisory, Management and Administrative Service [Member]        
Non-interest income:        
Non-interest income 800 731 1,554 1,338
Product and Service, Other [Member]        
Non-interest income:        
Non-interest income $ 1,088 $ 1,155 $ 2,320 $ 2,379
[1] Outside of the scope of ASC 606.