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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 INCOME:        
Loans, including fees $ 133,931 $ 53,835 $ 259,660 $ 106,205
Securities:        
Taxable 9,726 5,571 19,379 10,639
Tax-exempt 436 2,557 1,698 5,082
Deposits in other financial institutions 2,865 877 6,636 1,217
Total interest income 146,958 62,840 287,373 123,143
INTEREST EXPENSE:        
Demand, money market and savings deposits 20,708 1,859 38,745 3,206
Certificates and other time deposits 9,622 1,922 12,929 4,078
Borrowed funds 6,535 114 7,852 300
Subordinated debt 1,812 1,463 3,739 2,905
Total interest expense 38,677 5,358 63,265 10,489
NET INTEREST INCOME 108,281 57,482 224,108 112,654
Provision for credit losses 1,915 2,143 5,581 3,957
Net interest income after provision for credit losses 106,366 55,339 218,527 108,697
NONINTEREST INCOME:        
(Loss) gain on sale of assets (6) (17) 192 (17)
Bank-owned life insurance income 532 342 1,054 475
Debit card and ATM card income 1,821 880 3,519 1,699
Other 1,561 813 5,292 3,236
Total noninterest income 5,483 2,704 12,981 6,722
NONINTEREST EXPENSE:        
Salaries and employee benefits 37,300 21,864 77,075 44,592
Net occupancy and equipment 3,817 2,220 7,905 4,425
Depreciation 1,841 1,012 3,677 2,045
Data processing and software amortization 4,674 2,522 9,728 5,020
Professional fees 1,564 662 3,091 800
Regulatory assessments and FDIC insurance 2,755 1,256 4,049 2,517
Amortization of intangibles 6,881 751 13,760 1,502
Communications 689 363 1,390 704
Advertising 907 483 1,746 945
Acquisition and merger-related expenses 2,897 1,667 9,062 2,118
Other 5,882 5,104 10,322 7,753
Total noninterest expense 69,207 37,904 141,805 72,421
INCOME BEFORE INCOME TAXES 42,642 20,139 89,703 42,998
Provision for income taxes 7,467 3,702 17,380 7,904
NET INCOME $ 35,175 $ 16,437 $ 72,323 $ 35,094
EARNINGS PER SHARE:        
Basic (in dollars per share) $ 0.66 $ 0.57 $ 1.36 $ 1.22
Diluted (in dollars per share) 0.66 0.56 1.36 1.21
DIVIDENDS PER SHARE (in dollars per share) $ 0.13 $ 0.10 $ 0.26 $ 0.20
Nonsufficient funds fees        
NONINTEREST INCOME:        
Revenue from contract with customer $ 418 $ 126 $ 824 $ 242
Service charges on deposit accounts        
NONINTEREST INCOME:        
Revenue from contract with customer $ 1,157 $ 560 $ 2,100 $ 1,087