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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
INTEREST INCOME    
Interest and fees on loans $ 194,339 $ 99,122
Interest and dividends on taxable investment securities 16,832 11,507
Interest and dividends on tax-exempt investment securities 46 6
Interest on federal funds sold 92 0
Interest on deposits with other banks 2,770 3,210
Total interest income 214,079 113,845
INTEREST EXPENSE    
Interest on deposits 68,800 9,983
Interest on short-term borrowings 5,518 74
Interest on long-term borrowings 4,454 2,486
Total interest expense 78,772 12,543
NET INTEREST INCOME 135,307 101,302
Provision for credit losses 30,953 1,925
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 104,354 99,377
NONINTEREST INCOME    
Service charges on deposit accounts 5,501 5,652
Trust and investment fee income 3,608 1,784
Loss on sales and calls of investment securities (2,166) 0
Interchange credits 5,714 4,812
Mortgage-banking revenue 4,513 5,210
Title Company revenue 551 1,340
Bargain purchase gain 8,816 0
Other noninterest income 6,622 4,288
Total noninterest income 33,159 23,086
NONINTEREST EXPENSE    
Salaries and wages 44,645 35,931
Employee benefits 12,358 9,908
Occupancy expense 7,791 6,242
Furniture and equipment expense 2,551 2,018
Data processing 8,783 6,890
Directors' fees 1,156 839
Amortization of other intangible assets 6,105 1,988
FDIC insurance premium expense 3,479 1,426
Other real estate owned expenses, net 1 65
Legal and professional fees 4,337 2,840
Merger-related expenses 17,356 2,098
Other noninterest expenses 14,767 10,077
Total noninterest expense 123,329 80,322
Income before income taxes 14,184 42,141
Income tax expense 2,956 10,964
NET INCOME $ 11,228 $ 31,177
Basic net income per common share (in dollars per share) $ 0.42 $ 1.57
Diluted net income per common share (in dollars per share) 0.42 1.57
Dividends paid per common share (in dollars per share) $ 0.48 $ 0.48