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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 and dividend income:        
Interest and fees on loans $ 82,131 $ 74,626 $ 239,266 $ 216,949
Interest and dividends on securities:        
Taxable interest and dividends 8,064 7,685 25,234 24,311
Tax exempt interest 2,925 2,929 8,836 8,825
Interest on federal funds sold and interest-bearing deposits in other banks 441 441 2,915 2,128
Total interest income 93,561 85,681 276,251 252,213
Interest expense:        
Interest on deposits 29,979 19,572 88,855 46,611
Interest on borrowed funds 4,568 5,405 13,247 13,942
Total interest expense 34,547 24,977 102,102 60,553
Net interest income 59,014 60,704 174,149 191,660
Provision for credit losses, LHFI 1,000 1,000 2,650 12,500
Provision for credit losses, OBSC exposures 0 0 0 750
Net interest income after provision for credit losses 58,014 59,704 171,499 178,410
Non-interest income:        
Service charges on deposit accounts 3,709 3,646 10,410 10,728
Gain (loss) on securities 225 2 191 (46)
(Loss) gain on sale of premises and equipment (344) (104) (181) 559
Government awards/grants 0 6,197 0 6,197
Other 8,652 9,583 27,820 26,921
Total non-interest income 12,242 19,324 38,240 44,359
Non-interest expense:        
Salaries and employee benefits 25,131 22,807 74,684 69,695
Occupancy and equipment 5,659 5,343 16,863 15,680
Acquisition expense 2,592 588 2,952 8,482
Other 13,012 18,986 39,409 46,436
Total non-interest expense 46,394 47,724 133,908 140,293
Income before income taxes 23,862 31,304 75,831 82,476
Income tax expense 5,291 6,944 16,935 18,066
Net income available to common stockholders, basic 18,571 24,360 58,896 64,410
Net income available to common stockholders, diluted $ 18,571 $ 24,360 $ 58,896 $ 64,410
Earnings per share:        
Basic earnings per share (in dollars per share) $ 0.59 $ 0.78 $ 1.87 $ 2.05
Diluted earnings per share (in dollars per share) $ 0.59 $ 0.77 $ 1.86 $ 2.04