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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Loans receivable:      
Taxable $ 747,837 $ 470,468 $ 338,009
Tax-exempt 31,954 25,124 22,110
Investment securities:      
Taxable 35,207 38,354 29,951
Tax-exempt 58,117 67,381 55,331
Deposits with financial institutions 17,719 2,503 634
Federal Home Loan Bank stock 3,052 1,176 597
Total Interest Income 893,886 605,006 446,632
INTEREST EXPENSE      
Deposits 306,092 62,939 23,319
Federal funds purchased 1,421 1,302 5
Securities sold under repurchase agreements 3,451 1,136 314
Federal Home Loan Bank advances 27,206 11,417 5,672
Subordinated debentures and other borrowings 10,316 8,009 6,642
Total Interest Expense 348,486 84,803 35,952
NET INTEREST INCOME 545,400 520,203 410,680
Provision for credit losses 3,500 16,755 0
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 541,900 503,448 410,680
NONINTEREST INCOME      
Net gains and fees on sales of loans 15,659 10,055 19,689
Increase in cash surrender value of life insurance 5,320 5,210 4,873
Gains on life insurance benefits 3,027 5,964 2,187
Net realized gains (losses) on sales of available for sale securities (6,930) 1,194 5,674
Other income 2,722 1,929 3,008
Total Noninterest Income 105,602 107,941 109,323
NONINTEREST EXPENSES      
Salaries and employee benefits 228,745 206,893 166,995
Net occupancy 29,859 26,211 23,326
Equipment 24,113 23,945 19,401
Marketing 7,427 7,708 5,762
Outside data processing fees 25,165 21,682 18,317
Printing and office supplies 1,552 1,588 1,217
Intangible asset amortization 8,743 8,275 5,747
FDIC assessments 14,674 10,235 6,243
Other real estate owned and foreclosure expenses 3,318 823 992
Professional and other outside services 16,172 21,642 11,913
Other expenses 28,502 26,713 19,300
Total Noninterest Expenses 388,270 355,715 279,213
INCOME BEFORE INCOME TAX 259,232 255,674 240,790
Income tax expense 35,446 33,585 35,259
NET INCOME 223,786 222,089 205,531
Preferred stock dividends 1,875 1,406 0
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 221,911 $ 220,683 $ 205,531
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS PER SHARE DATA:      
Basic (in dollars per share) $ 3.74 $ 3.83 $ 3.82
Diluted (in dollars per share) $ 3.73 $ 3.81 $ 3.81
Service charges on deposit accounts      
NONINTEREST INCOME      
Other income $ 30,837 $ 28,371 $ 23,571
Fiduciary and wealth management fees      
NONINTEREST INCOME      
Other income 30,840 29,688 28,362
Card payment fees      
NONINTEREST INCOME      
Other income 18,862 20,207 16,619
Derivative hedge fees      
NONINTEREST INCOME      
Other income 3,385 3,388 3,850
Other customer fees      
NONINTEREST INCOME      
Other income $ 1,880 $ 1,935 $ 1,490