XML 24 R4.htm IDEA: XBRL DOCUMENT v3.22.2
Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest Income        
Investment securities $ 42,841 $ 28,730 $ 81,495 $ 56,036
Residential real estate loans 13,026 9,541 28,541 19,687
Commercial loans 131,259 110,829 255,815 224,370
Consumer and other loans 12,511 10,856 24,302 21,415
Total interest income 199,637 159,956 390,153 321,508
Interest Expense        
Deposits 3,141 2,804 6,605 5,818
Securities sold under agreements to repurchase 367 651 760 1,340
Federal Home Loan Bank advances 1,298 0 1,310 0
Other borrowed funds 264 177 484 351
Subordinated debentures 1,129 855 2,001 1,718
Total interest expense 6,199 4,487 11,160 9,227
Net Interest Income 193,438 155,469 378,993 312,281
Provision for credit losses (1,533) (5,653) 5,498 (5,605)
Net interest income after provision for credit losses 194,971 161,122 373,495 317,886
Non-Interest Income        
Service charges and other fees 17,309 13,795 34,420 26,587
Miscellaneous loan fees and charges 3,850 2,923 7,405 5,701
Gain on sale of loans 4,996 16,106 14,011 37,730
(Loss) gain on sale of debt securities (260) (61) 186 223
Other income 2,385 2,759 5,821 5,402
Total non-interest income 28,280 35,522 61,843 75,643
Non-Interest Expense        
Compensation and employee benefits 79,803 64,109 158,877 126,577
Occupancy and equipment 10,766 9,208 21,730 18,723
Advertising and promotions 3,766 2,906 6,998 5,277
Data processing 7,553 5,661 15,028 10,867
Other real estate owned and foreclosed assets 6 48 6 60
Regulatory assessments and insurance 3,085 1,702 6,140 3,581
Core deposit intangibles amortization 2,665 2,488 5,329 4,976
Other expenses 21,877 13,960 45,721 26,606
Total non-interest expense 129,521 100,082 259,829 196,667
Income Before Income Taxes 93,730 96,562 175,509 196,862
Federal and state income tax expense 17,338 18,935 31,322 38,433
Net Income $ 76,392 $ 77,627 $ 144,187 $ 158,429
Basic earnings per share (in dollars per share) $ 0.69 $ 0.81 $ 1.30 $ 1.66
Diluted earnings per share (in dollars per share) 0.69 0.81 1.30 1.66
Dividends declared per share (in dollars per share) $ 0.33 $ 0.32 $ 0.66 $ 0.63
Average outstanding shares - basic (in shares) 110,765,379 95,505,877 110,745,017 95,485,839
Average outstanding shares - diluted (in shares) 110,794,982 95,580,904 110,799,368 95,565,591