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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
INTEREST INCOME        
Loans, including fees $ 244,292 $ 163,578 $ 471,790 $ 290,754
Interest bearing balances due from banks and federal funds sold 4,023 1,117 6,806 1,766
Investment securities 48,751 37,848 97,525 71,560
Mortgage loans held for sale 154 200 236 390
Other loans held for sale 0 2,063 0 2,063
TOTAL INTEREST INCOME 297,220 204,806 576,357 366,533
INTEREST EXPENSE        
Deposits 108,364 9,754 195,892 16,571
Federal funds purchased and securities sold under agreements to repurchase 318 119 641 187
Other borrowings 18,612 4,844 27,460 9,623
Subordinated notes and debentures 6,696 4,990 11,299 9,447
TOTAL INTEREST EXPENSE 133,990 19,707 235,292 35,828
NET INTEREST INCOME 163,230 185,099 341,065 330,705
Provision for credit losses 61 33,859 24,277 13,945
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 163,169 151,240 316,788 316,760
NONINTEREST INCOME        
Bank owned life insurance income 2,555 2,563 5,528 5,269
Loss on sale of securities, net (391) (150) (391) (204)
Other income 9,843 6,837 21,099 14,103
TOTAL NONINTEREST INCOME 44,980 40,178 90,815 82,396
NONINTEREST EXPENSE        
Salaries and employee benefits 74,723 74,135 151,761 142,041
Occupancy expense, net 11,410 11,004 22,988 21,027
Furniture and equipment expense 5,128 5,104 10,179 9,879
Other real estate and foreclosure expense 289 142 475 485
Deposit insurance 5,201 2,812 10,094 4,650
Merger related costs 19 19,133 1,415 21,019
Other operating expenses 42,926 44,483 86,012 86,129
TOTAL NONINTEREST EXPENSE 139,696 156,813 282,924 285,230
INCOME BEFORE INCOME TAXES 68,453 34,605 124,679 113,926
Provision for income taxes 10,139 7,151 20,776 21,377
NET INCOME $ 58,314 $ 27,454 $ 103,903 $ 92,549
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.46 $ 0.21 $ 0.82 $ 0.77
DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.46 $ 0.21 $ 0.82 $ 0.77
Service charges on deposit accounts        
NONINTEREST INCOME        
Non-interest income $ 12,882 $ 11,379 $ 25,319 $ 22,075
Debit and credit card fees        
NONINTEREST INCOME        
Non-interest income 7,986 8,224 15,938 15,673
Wealth management fees        
NONINTEREST INCOME        
Non-interest income 7,440 7,214 14,805 15,182
Mortgage lending income        
NONINTEREST INCOME        
Non-interest income 2,403 2,240 3,973 6,790
Other service charges and fees        
NONINTEREST INCOME        
Non-interest income $ 2,262 $ 1,871 $ 4,544 $ 3,508