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Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest Income        
Investment securities $ 43,722 $ 30,352 $ 125,217 $ 86,388
Residential real estate loans 13,738 9,885 42,279 29,572
Commercial loans 142,692 115,533 398,507 339,903
Consumer and other loans 14,250 10,971 38,552 32,386
Total interest income 214,402 166,741 604,555 488,249
Interest Expense        
Deposits 3,279 2,609 9,884 8,427
Securities sold under agreements to repurchase 675 496 1,435 1,836
Federal Home Loan Bank advances 3,318 0 4,628 0
Other borrowed funds 214 178 698 529
Subordinated debentures 1,589 845 3,590 2,563
Total interest expense 9,075 4,128 20,235 13,355
Net Interest Income 205,327 162,613 584,320 474,894
Provision for credit losses 8,341 725 13,839 (4,880)
Net interest income after provision for credit losses 196,986 161,888 570,481 479,774
Non-Interest Income        
Service charges and other fees 18,970 15,154 53,390 41,741
Miscellaneous loan fees and charges 4,040 2,592 11,445 8,293
Gain on sale of loans 3,846 13,902 17,857 51,632
(Loss) gain on sale of debt securities (85) (168) 101 55
Other income 3,635 3,335 9,456 8,737
Total non-interest income 30,406 34,815 92,249 110,458
Non-Interest Expense        
Compensation and employee benefits 80,612 66,364 239,489 192,941
Occupancy and equipment 10,797 9,412 32,527 28,135
Advertising and promotions 3,768 3,236 10,766 8,513
Data processing 7,716 5,135 22,744 16,002
Other real estate owned and foreclosed assets 66 142 72 202
Regulatory assessments and insurance 3,339 2,011 9,479 5,592
Core deposit intangibles amortization 2,665 2,488 7,994 7,464
Other expenses 21,097 15,320 66,818 41,926
Total non-interest expense 130,060 104,108 389,889 300,775
Income Before Income Taxes 97,332 92,595 272,841 289,457
Federal and state income tax expense 17,994 16,976 49,316 55,409
Net Income $ 79,338 $ 75,619 $ 223,525 $ 234,048
Basic earnings per share (in dollars per share) $ 0.72 $ 0.79 $ 2.02 $ 2.45
Diluted earnings per share (in dollars per share) 0.72 0.79 2.02 2.45
Dividends declared per share (in dollars per share) $ 0.33 $ 0.32 $ 0.99 $ 0.95
Average outstanding shares - basic (in shares) 110,766,502 95,510,772 110,752,231 95,494,211
Average outstanding shares - diluted (in shares) 110,833,594 95,586,202 110,811,267 95,573,519