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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
INTEREST INCOME        
Loans, including fees $ 187,347 $ 132,216 $ 478,101 $ 417,444
Interest bearing balances due from banks and federal funds sold 1,141 763 2,907 2,212
Investment securities 40,954 30,717 112,514 79,418
Mortgage loans held for sale 178 230 568 1,255
Other loans held for sale 998 0 3,061 0
TOTAL INTEREST INCOME 230,618 163,926 597,151 500,329
INTEREST EXPENSE        
Deposits 25,429 9,116 42,000 33,077
Federal funds purchased and securities sold under agreements to repurchase 305 70 492 507
Other borrowings 6,048 4,893 15,671 14,592
Subordinated notes and debentures 5,251 4,610 14,698 13,702
TOTAL INTEREST EXPENSE 37,033 18,689 72,861 61,878
NET INTEREST INCOME 193,585 145,237 524,290 438,451
Provision for credit losses 103 (19,890) 14,048 (31,396)
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 193,482 165,127 510,242 469,847
NONINTEREST INCOME        
Bank owned life insurance income 2,902 2,573 8,171 6,134
Gain (loss) on sale of securities, net (22) 5,248 (226) 15,846
Other income 6,658 6,411 20,761 25,308
TOTAL NONINTEREST INCOME 43,023 48,550 125,419 145,214
NONINTEREST EXPENSE        
Salaries and employee benefits 71,923 61,902 213,964 182,503
Occupancy expense, net 11,674 9,361 32,701 27,764
Furniture and equipment expense 5,394 4,895 15,273 15,169
Other real estate and foreclosure expense 168 339 653 1,545
Deposit insurance 3,278 1,870 7,928 4,865
Merger related costs 1,422 1,401 22,441 2,320
Other operating expenses 45,084 34,565 131,213 107,826
TOTAL NONINTEREST EXPENSE 138,943 114,333 424,173 341,992
INCOME BEFORE INCOME TAXES 97,562 99,344 211,488 273,069
Provision for income taxes 16,959 18,770 38,336 50,151
NET INCOME 80,603 80,574 173,152 222,918
Preferred stock dividends 0 13 0 39
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 80,603 $ 80,561 $ 173,152 $ 222,879
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.63 $ 0.75 $ 1.41 $ 2.06
DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.63 $ 0.74 $ 1.40 $ 2.05
Service charges on deposit accounts        
NONINTEREST INCOME        
Non-interest income $ 12,560 $ 11,557 $ 34,635 $ 31,322
Debit and credit card fees        
NONINTEREST INCOME        
Non-interest income 7,685 7,102 23,358 20,785
Wealth management fees        
NONINTEREST INCOME        
Non-interest income 8,562 7,877 23,744 23,130
Mortgage lending income        
NONINTEREST INCOME        
Non-interest income 2,593 5,818 9,383 16,755
Other service charges and fees        
NONINTEREST INCOME        
Non-interest income $ 2,085 $ 1,964 $ 5,593 $ 5,934