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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest Income    
Investment securities $ 56,218 $ 43,642
Residential real estate loans 20,764 15,838
Commercial loans 181,472 155,682
Consumer and other loans 20,948 16,726
Total interest income 279,402 231,888
Interest Expense    
Deposits 67,196 12,545
Securities sold under agreements to repurchase 12,598 4,606
Federal Home Loan Bank advances 4,249 23,605
FRB Bank Term Funding 27,097 3,032
Other borrowed funds 344 496
Subordinated debentures 1,438 1,412
Total interest expense 112,922 45,696
Net Interest Income 166,480 186,192
Provision for credit losses 8,249 5,470
Net interest income after provision for credit losses 158,231 180,722
Non-Interest Income    
Service charges and other fees 18,563 17,771
Miscellaneous loan fees and charges 4,362 3,967
Gain on sale of loans 3,362 2,400
Gain (loss) on sale of securities 16 (114)
Other income 3,686 3,871
Total non-interest income 29,989 27,895
Non-Interest Expense    
Compensation and employee benefits 85,789 81,477
Occupancy and equipment 11,883 11,665
Advertising and promotions 3,983 4,235
Data processing 9,159 8,109
Other real estate owned and foreclosed assets 25 12
Regulatory assessments and insurance 7,761 4,903
Core deposit intangibles amortization 2,760 2,449
Other expenses 30,483 22,132
Total non-interest expense 151,843 134,982
Income Before Income Taxes 36,377 73,635
Federal and state income tax expense 3,750 12,424
Net Income $ 32,627 $ 61,211
Basic earnings per share (in dollars per share) $ 0.29 $ 0.55
Diluted earnings per share (in dollars per share) 0.29 0.55
Dividends declared per share (in dollars per share) $ 0.33 $ 0.33
Average outstanding shares - basic (in shares) 112,492,142 110,824,648
Average outstanding shares - diluted (in shares) 112,554,402 110,881,708