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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
INTEREST AND DIVIDEND INCOME      
Loans, including fees $ 596,852 $ 422,401 $ 415,965
Interest and dividends on securities:      
Taxable 73,449 66,123 50,401
Tax-exempt 18,830 18,818 16,161
Total interest and dividends on securities 92,279 84,941 66,562
Other interest income 22,385 6,314 2,440
Total interest and dividend income 711,516 513,656 484,967
INTEREST EXPENSE      
Interest bearing demand deposits 72,866 12,181 3,669
Money market deposits 36,616 3,562 1,803
Savings deposits 23,869 4,115 1,031
Certificates of deposit 18,472 4,089 7,623
Total interest expense on deposits 151,823 23,947 14,126
Federal Home Loan Bank borrowings 59,318 3,968 6,167
Other short-term borrowings 2,545 568 227
Subordinated debt and junior subordinated debt 16,492 10,860 6,514
Total interest expense 230,178 39,343 27,034
NET INTEREST INCOME 481,338 474,313 457,933
Provision for credit losses 17,734 (1,663) (64,274)
Net interest income after provision for credit losses 463,604 475,976 522,207
NON-INTEREST INCOME      
Trust fees 28,135 27,551 29,511
Service charges on deposits 26,116 26,281 22,412
Electronic banking fees 19,454 20,002 19,318
Net swap fee and valuation income 6,912 7,067 6,481
Net securities brokerage revenue 10,055 9,525 6,896
Bank-owned life insurance 11,002 10,728 8,936
Mortgage banking income 2,652 5,129 19,528
Net securities gains (losses) 900 (1,777) 1,113
Net gains on other real estate owned and other assets 1,520 482 4,816
Other income 13,701 12,403 13,774
Total non-interest income 120,447 117,391 132,785
NON-INTEREST EXPENSE      
Salaries and wages 176,938 167,028 154,242
Employee benefits 46,901 37,771 41,033
Net occupancy 25,338 26,105 26,843
Equipment and software 36,666 32,508 30,006
Marketing 11,178 9,335 8,634
FDIC insurance 12,249 7,901 4,150
Amortization of intangible assets 9,088 10,278 11,457
Restructuring and merger-related expense 3,830 1,723 6,717
Other operating expenses 67,814 64,317 70,061
Total non-interest expense 390,002 356,966 353,143
Income before provision for income taxes 194,049 236,401 301,849
Provision for income taxes 35,017 44,288 59,589
Net income 159,032 192,113 242,260
Preferred stock dividends 10,125 10,125 10,125
Net income available to common shareholders $ 148,907 $ 181,988 $ 232,135
EARNINGS PER COMMON SHARE      
Basic $ 2.51 $ 3.03 $ 3.54
Diluted $ 2.51 $ 3.02 $ 3.53
AVERAGE COMMON SHARES OUTSTANDING      
Basic 59,303,210 60,047,177 65,520,527
Diluted 59,427,989 60,215,374 65,669,970
DIVIDENDS DECLARED PER COMMON SHARE $ 1.41 $ 1.37 $ 1.32