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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest Income        
Loans and fees $ 105,261,000 $ 76,973,000 $ 205,742,000 $ 144,782,000
Federal funds sold and interest-bearing deposits with banks 1,981,000 235,000 2,709,000 417,000
Taxable investment securities and other 11,939,000 8,285,000 23,493,000 14,994,000
Tax-exempt investment securities 1,587,000 1,442,000 3,229,000 2,744,000
Total Interest Income 120,768,000 86,935,000 235,173,000 162,937,000
Interest Expense        
Deposits 36,704,000 4,829,000 65,862,000 8,868,000
Federal funds purchased and securities sold under agreements to repurchase 10,365,000 150,000 17,587,000 170,000
Other borrowings 2,157,000 1,654,000 4,257,000 3,209,000
Total Interest Expense 49,226,000 6,633,000 87,706,000 12,247,000
Net Interest Income 71,542,000 80,302,000 147,467,000 150,690,000
Provision for credit losses 1,947,000 3,644,000 9,840,000 9,916,000
Net Interest Income after Provision for Credit Losses 69,595,000 76,658,000 137,627,000 140,774,000
Noninterest Income        
Service charges on deposit accounts 2,844,000 2,711,000 5,633,000 5,337,000
Commissions and fees 1,863,000 2,555,000 3,788,000 4,661,000
Income on bank owned life insurance 1,021,000 820,000 1,797,000 1,650,000
(Loss) gain on equity securities (135,000) (364,000) 13,000 (849,000)
Gains on sales of loans held for sale 229,000 715,000 659,000 2,141,000
Swap income 361,000 399,000 417,000 399,000
Other income 486,000 227,000 627,000 504,000
Total Noninterest Income 6,669,000 7,063,000 12,934,000 13,843,000
Noninterest Expense        
Compensation and employee benefits 27,585,000 26,938,000 57,581,000 54,617,000
Premises and equipment 7,992,000 7,679,000 15,969,000 15,651,000
FDIC insurance expense 1,627,000 672,000 2,590,000 1,344,000
Data processing expense 2,025,000 1,891,000 3,887,000 3,561,000
Merger-related expenses 242,000 0 537,000 4,585,000
Other expenses 7,537,000 7,888,000 15,049,000 15,269,000
Total Noninterest Expense 47,008,000 45,068,000 95,613,000 95,027,000
Income before provision for income taxes 29,256,000 38,653,000 54,948,000 59,590,000
Provision for income taxes 6,628,000 9,536,000 12,515,000 14,544,000
Net Income $ 22,628,000 $ 29,117,000 $ 42,433,000 $ 45,046,000
Per Share of Common Stock        
Basic earnings (in usd per share) $ 0.34 $ 0.44 $ 0.65 $ 0.69
Diluted earnings (in usd per share) 0.34 0.44 0.64 0.69
Dividends (in usd per share) $ 0.145 $ 0.145 $ 0.290 $ 0.280