XML 16 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest and fees on loans $ 120,088 $ 106,903
Interest and dividends on investment securities:    
Taxable 4,334 4,229
Tax-exempt 1,154 1,092
Dividends 1,125 898
Interest on federal funds sold and other short-term investments 2,906 2,975
Total interest income 129,607 116,097
Interest expense    
Deposits 60,407 40,087
Borrowings 8,900 8,926
Total interest expense 69,307 49,013
Net interest income 60,300 67,084
Provision for credit losses 4,000 1,000
Net interest income after provision for credit losses 56,300 66,084
Noninterest income    
Deposit, loan and other income 1,592 1,403
Income on bank owned life insurance 1,664 1,531
Net gains on sale of loans held-for-sale 506 49
Net gain (losses) on equity securities 86 (191)
Total noninterest income 3,848 2,792
Noninterest expenses    
Salaries and employee benefits 22,196 22,261
Occupancy and equipment 3,009 2,761
FDIC insurance 1,800 950
Professional and consulting 1,928 2,194
Marketing and advertising 677 532
Information technology and communications 4,389 3,061
Amortization of core deposit intangibles 321 372
Other components of net periodic pension expense (65) (25)
Other expenses 2,810 2,764
Total noninterest expenses 37,065 34,870
Income before income tax expense 23,083 34,006
Income tax expense 5,878 9,077
Net income 17,205 24,929
Preferred dividends 1,509 1,509
Net income available to common stockholders $ 15,696 $ 23,420
Earnings per common share:    
Basic (in dollars per share) $ 0.41 $ 0.6
Diluted (in dollars per share) $ 0.41 $ 0.59