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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income:        
Loans $ 189,211 $ 170,159 $ 375,775 $ 322,765
Debt securities:        
Taxable 11,765 9,619 23,184 18,905
Nontaxable 5,798 5,659 11,563 11,256
Interest-earning deposits 4,389 2,095 7,958 3,290
Dividends on equity securities 481 365 887 714
Total interest income 211,644 187,897 419,367 356,930
Interest expense:        
Deposits 66,374 41,372 130,847 66,033
Subordinated debentures and notes 2,684 2,431 5,168 4,840
FHLB advances 561 1,279 1,590 2,611
Other borrowings 1,496 2,123 3,505 3,225
Total interest expense 71,115 47,205 141,110 76,709
Net interest income 140,529 140,692 278,257 280,221
Provision for credit losses 4,819 6,339 10,575 10,522
Net interest income after provision for credit losses 135,710 134,353 267,682 269,699
Noninterest income:        
Total noninterest income 15,494 14,290 27,652 31,188
Noninterest expense:        
Employee compensation and benefits 44,524 41,641 89,786 84,144
Deposit costs 21,706 16,980 41,983 29,700
Occupancy 4,197 3,954 8,523 8,015
Data processing 5,339 3,661 9,678 7,371
Professional fees 1,298 1,566 2,733 3,197
Other expense 16,953 18,154 34,815 34,512
Total noninterest expense 94,017 85,956 187,518 166,939
Income before income tax expense 57,187 62,687 107,816 133,948
Income tax expense 11,741 13,560 21,969 29,083
Net income 45,446 49,127 85,847 104,865
Dividends on preferred stock 937 937 1,875 1,875
Net income available to common shareholders $ 44,509 $ 48,190 $ 83,972 $ 102,990
Earnings per common share        
Basic (usd per share) $ 1.19 $ 1.29 $ 2.24 $ 2.76
Diluted (usd per share) $ 1.19 $ 1.29 $ 2.24 $ 2.75
Deposit service charges        
Noninterest income:        
Total noninterest income $ 4,542 $ 3,910 $ 8,965 $ 8,038
Wealth management revenue        
Noninterest income:        
Total noninterest income 2,590 2,472 5,134 4,988
Card services revenue        
Noninterest income:        
Total noninterest income 2,497 2,464 4,909 4,802
Tax credit income (loss)        
Noninterest income:        
Total noninterest income 1,874 368 (316) 2,181
Other income        
Noninterest income:        
Total noninterest income $ 3,991 $ 5,076 $ 8,960 $ 11,179