XML 24 R5.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest and dividend income:      
Loans, including fees $ 285,375 $ 242,269 $ 233,721
Investments:      
Taxable securities 59,395 29,361 27,627
Tax exempt securities 5,199 3,568 3,566
Dividends 1,137 991 1,032
Interest bearing cash at Federal Reserve and other banks 4,399 858 1,238
Total interest and dividend income 355,505 277,047 267,184
Interest expense:      
Deposits 4,689 3,318 6,885
Other borrowings 421 22 17
Junior subordinated debt 4,419 2,168 2,555
Total interest expense 9,529 5,508 9,457
Net interest income 345,976 271,539 257,727
Provision for (benefit from) credit losses 18,470 (6,775) 42,813
Net interest income after provision for (benefit from) credit losses 327,506 278,314 214,914
Noninterest income:      
Service charges and fees 49,765 43,948 37,981
Commissions on sale of non-deposit investment products 3,986 3,668 2,989
Increase in cash value of life insurance 2,858 2,775 2,949
Gain on sale of loans 2,342 9,580 9,122
Gain on sale of investment securities 0 0 7
Other 4,095 3,693 2,146
Total noninterest income 63,046 63,664 55,194
Noninterest expense:      
Salaries and related benefits 129,852 106,351 112,121
Other 86,793 71,924 70,637
Total noninterest expense 216,645 178,275 182,758
Income before income taxes 173,907 163,703 87,350
Provision for income taxes 48,488 46,048 22,536
Net income $ 125,419 $ 117,655 $ 64,814
Earnings per share:      
Basic (in USD per share) $ 3.85 $ 3.96 $ 2.17
Diluted (in USD per share) $ 3.83 $ 3.94 $ 2.16