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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest Income    
Interest and fees on loans $ 132,760 $ 107,668
Interest and dividends on investments:    
Taxable interest 10,417 5,789
Interest exempt from federal income taxes 108 117
Dividends 604 505
Interest on bank deposits 1,573 510
Total interest income 145,462 114,589
Interest Expense    
Interest on deposits 43,720 15,518
Interest on short-term borrowings 6,765 2,401
Interest on subordinated debentures 2,587 2,214
Interest on other long-term debt 38 45
Interest on lease obligations 48 53
Total interest expense 53,158 20,231
Net Interest Income 92,304 94,358
Provision for credit losses - portfolio 4,238 (2,650)
Provision for credit losses - acquisition day 1 non-PCD 0 10,653
Net Interest Income after Provision for Credit Losses 88,066 86,355
Noninterest Income    
Trust income 2,727 2,486
Service charges on deposit accounts 5,383 4,918
Insurance and retail brokerage commissions 2,246 2,552
Income from bank owned life insurance 1,294 1,227
Gain on sale of mortgage loans 1,328 652
Gain on sale of other loans and assets 2,051 2,086
Card-related interchange income 6,690 6,829
Derivatives mark to market 12 (89)
Swap fee income 0 245
Other income 2,257 2,057
Total noninterest income 23,988 22,963
Noninterest Expense    
Salaries and employee benefits 35,324 34,264
Net occupancy expense 5,334 5,018
Furniture and equipment expense 4,480 4,238
Data processing expense 3,824 3,404
Advertising and promotion 1,319 1,663
Intangible amortization 1,202 1,252
Intangible amortization 1,264 1,147
Other professional fees and services 1,242 1,591
FDIC insurance 1,613 1,417
Loss on sale or write-down of assets 143 41
Litigation and operational losses 997 743
Merger and acquisition related (114) (8,541)
Other Noninterest Expense 8,717 8,062
Total noninterest expense 65,573 71,381
Income Before Income Taxes 46,481 37,937
Income tax provision 8,932 7,713
Net Income $ 37,549 $ 30,224
Average Shares Outstanding (in shares) 101,981,248 99,560,831
Average Shares Outstanding Assuming Dilution (in shares) 102,198,899 99,779,816
Per Share Data:    
Basic Earnings per Share (in dollars per share) $ 0.37 $ 0.30
Diluted Earnings per Share (in dollars per share) 0.37 0.30
Cash Dividends Declared per Common Share (in dollars per share) $ 0.125 $ 0.120