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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest income        
Interest and fees on loans $ 90,731 $ 75,092 $ 248,041 $ 216,655
Interest and dividends on investment securities:        
Taxable 4,063 1,065 8,487 3,148
Tax-exempt 1,083 511 2,708 1,885
Dividends 438 245 943 764
Interest on federal funds sold and other short-term investments 665 113 1,098 246
Total interest income 96,980 77,026 261,277 222,698
Interest expense        
Deposits 13,299 5,478 24,018 19,487
Borrowings 5,520 3,303 13,149 10,794
Total interest expense 18,819 8,781 37,167 30,281
Net interest income 78,161 68,245 224,110 192,417
Provision for (reversal of) credit losses 10,000 1,100 14,450 (6,315)
Net interest income after provision for (reversal of) credit losses 68,161 67,145 209,660 198,732
Noninterest income        
Deposit, loan and other income 1,969 1,702 5,578 5,092
Income on bank owned life insurance 1,521 1,278 4,069 3,527
Net gains on sale of loans held-for-sale 262 1,114 1,519 2,668
Gain on sale of branches 0 0 0 674
Net losses on equity securities (430) (78) (1,431) (242)
Net gain on sales/redemptions of securities available-for-sale 0 0 0 195
Total noninterest income 3,322 4,016 9,735 11,914
Noninterest expenses        
Salaries and employee benefits 21,025 16,807 59,470 47,790
Occupancy and equipment 2,600 2,656 7,262 8,876
FDIC insurance 720 525 2,051 2,040
Professional and consulting 1,980 2,217 5,896 6,290
Marketing and advertising 461 345 1,238 864
Information technology and communications 2,747 3,048 8,414 8,209
Amortization of intangibles 409 483 1,276 1,498
Other components of net periodic pension expense (143) (67) (429) (201)
Increase in value of acquisition price 0 0 1,516 0
Other expenses 2,344 2,169 6,382 5,561
Total noninterest expenses 32,143 28,183 93,076 80,927
Income before income tax expense 39,340 42,978 126,319 129,719
Income tax expense 10,425 10,881 33,665 32,404
Net income 28,915 32,097 92,654 97,315
Preferred dividends 1,509 0 4,527 0
Net income available to common stockholders $ 27,406 $ 32,097 $ 88,127 $ 97,315
Earnings per common share        
Basic (in dollars per share) $ 0.70 $ 0.81 $ 2.24 $ 2.45
Diluted (in dollars per share) $ 0.70 $ 0.80 $ 2.23 $ 2.43