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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
INTEREST INCOME        
Loans, including fees $ 277,939 $ 255,901 $ 810,366 $ 727,691
Interest bearing balances due from banks and federal funds sold 2,921 3,569 8,895 10,375
Investment securities 53,220 50,638 166,271 148,163
Mortgage loans held for sale 209 178 551 414
TOTAL INTEREST INCOME 334,289 310,286 986,083 886,643
INTEREST EXPENSE        
Deposits 152,244 133,157 457,210 329,049
Federal funds purchased and securities sold under agreements to repurchase 138 277 483 918
Other borrowings 17,067 16,450 43,741 43,910
Subordinated notes and debentures 7,128 6,969 21,126 18,268
TOTAL INTEREST EXPENSE 176,577 156,853 522,560 392,145
NET INTEREST INCOME 157,712 153,433 463,523 494,498
Provision for credit losses 12,148 7,722 33,453 31,999
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 145,564 145,711 430,070 462,499
NONINTEREST INCOME        
Bank owned life insurance income 3,757 3,095 11,447 8,623
Loss on sale of securities, net (28,393) 0 (28,393) (391)
Other income 8,346 7,433 21,928 28,532
TOTAL NONINTEREST INCOME 17,130 42,777 103,613 133,592
NONINTEREST EXPENSE        
Salaries and employee benefits 69,167 67,374 212,536 219,135
Occupancy expense, net 12,216 12,020 36,338 35,008
Furniture and equipment expense 5,612 5,117 16,376 15,296
Other real estate and foreclosure expense 87 228 383 703
Deposit insurance 5,571 4,672 18,388 14,766
Merger related costs 0 5 0 1,420
Other operating expenses 44,540 42,582 132,405 128,594
TOTAL NONINTEREST EXPENSE 137,193 131,998 416,426 414,922
INCOME BEFORE INCOME TAXES 25,501 56,490 117,257 181,169
Provision for income taxes 761 9,243 12,883 30,019
NET INCOME $ 24,740 $ 47,247 $ 104,374 $ 151,150
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.20 $ 0.38 $ 0.83 $ 1.19
DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.20 $ 0.37 $ 0.83 $ 1.19
Service charges on deposit accounts        
NONINTEREST INCOME        
Non-interest income $ 12,713 $ 12,429 $ 36,920 $ 37,748
Debit and credit card fees        
NONINTEREST INCOME        
Non-interest income 8,144 7,712 24,552 23,650
Wealth management fees        
NONINTEREST INCOME        
Non-interest income 8,226 7,719 23,978 22,524
Mortgage lending income        
NONINTEREST INCOME        
Non-interest income 1,956 2,157 6,249 6,130
Other service charges and fees        
NONINTEREST INCOME        
Non-interest income $ 2,381 $ 2,232 $ 6,932 $ 6,776