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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income:    
Interest and fees on loans and leases $ 110,749 $ 71,762
Interest and dividends on taxable investment securities 13,919 11,003
Interest on tax-exempt investment securities 1,003 996
Other interest income 1,922 388
Total interest income 127,593 84,149
Interest expense:    
Interest on deposits 33,304 5,661
Interest on short-term borrowings 4,184 4,457
Interest on long-term borrowings 3,465 1,153
Total interest expense 40,953 11,271
Net interest income 86,640 72,878
Provision for credit losses 6,102 1,853
Net interest income after provision for credit losses 80,538 71,025
Non-interest income:    
Insurance income 6,498 5,425
Bank owned life insurance income 1,500 707
Lease income 1,236 1,077
Mortgage banking income 321 314
Net loss on investment securities (1) (1,935)
Net loss on asset disposals and other transactions (341) (246)
Other non-interest income 1,698 668
Total non-interest income 25,779 19,060
Non-interest expense:    
Salaries and employee benefit costs 38,893 32,028
Net occupancy and equipment expense 6,283 4,955
Data processing and software expense 5,769 4,562
Professional fees 2,967 2,881
Amortization of other intangible assets 2,788 1,871
Electronic banking expense 1,781 1,491
Federal Deposit Insurance Corporation ("FDIC") insurance expense 1,186 801
Other loan expenses 1,076 739
Marketing expense 1,056 930
Franchise tax expense 881 1,034
Communication expense 799 613
Other non-interest expense 4,986 4,574
Total non-interest expense 68,465 56,479
Income before income taxes 37,852 33,606
Income tax expense 8,268 7,046
Net income $ 29,584 $ 26,560
Earnings per common share - basic (in usd per share) $ 0.85 $ 0.95
Earnings per common share - diluted (in usd per share) $ 0.84 $ 0.94
Weighted-average number of common shares outstanding - basic (in shares) 34,740,349 27,891,760
Weighted-average number of common shares outstanding - diluted (in shares) 35,051,810 28,021,879
Cash dividends declared $ 13,745 $ 10,725
Cash dividends declared per common share (in usd per share) $ 0.39 $ 0.38
Electronic banking income    
Non-interest income:    
Revenue from contract with customer $ 6,046 $ 5,443
Trust and investment income    
Non-interest income:    
Revenue from contract with customer 4,599 4,084
Deposit account service charges    
Non-interest income:    
Revenue from contract with customer $ 4,223 $ 3,523