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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 and dividend income:        
Interest and fees on loans $ 74,590 $ 34,663 $ 142,324 $ 68,817
Interest and dividends on securities:        
Taxable interest and dividends 7,867 8,372 16,626 14,524
Tax exempt interest 2,948 2,780 5,896 5,202
Interest on federal funds sold and interest-bearing deposits in other banks 789 32 1,686 45
Total interest income 86,194 45,847 166,532 88,588
Interest expense:        
Interest on deposits 14,762 1,905 27,039 4,188
Interest on borrowed funds 5,402 1,841 8,537 3,660
Total interest expense 20,164 3,746 35,576 7,848
Net interest income 66,030 42,101 130,956 80,740
Provision for credit losses, LHFI 1,000 450 11,500 450
Provision for credit losses, OBSC exposures 250 150 750 150
Net interest income after provision for credit losses 64,780 41,501 118,706 80,140
Non-interest income:        
Service charges on deposit accounts 3,425 2,038 7,082 4,078
(Loss) on securities (48) (80) (48) (83)
Gain on acquisition 0 281 0 281
Government awards/grants 0 171 0 873
BOLI death proceeds 0 0 0 1,630
(Loss) gain on sale of premises and equipment 0 (115) 663 (113)
Other 9,046 6,369 17,338 13,155
Total non-interest income 12,423 8,664 25,035 19,821
Non-interest expense:        
Salaries and employee benefits 23,315 17,237 46,888 34,036
Occupancy and equipment 5,041 3,828 10,337 7,704
Acquisition expense/charter conversion 4,101 1,172 7,894 1,580
Other 14,442 8,718 27,450 16,225
Total non-interest expense 46,899 30,955 92,569 59,545
Income before income taxes 30,304 19,210 51,172 40,416
Income tax expense 6,525 3,457 11,122 7,834
Net income available to common stockholders, basic 23,779 15,753 40,050 32,582
Net income available to common stockholders, diluted $ 23,779 $ 15,753 $ 40,050 $ 32,582
Earnings per share:        
Basic earnings per share (in dollars per share) $ 0.76 $ 0.77 $ 1.28 $ 1.58
Diluted earnings per share (in dollars per share) $ 0.75 $ 0.76 $ 1.27 $ 1.57