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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest and fees on loans      
Taxable $ 202,004 $ 170,081 $ 176,538
Tax exempt 1,664 470 647
Interest and dividends on securities      
Taxable 14,132 9,086 6,973
Tax exempt 19,553 13,033 8,577
Other interest income 2,214 549 368
Total interest income 239,567 193,219 193,103
Interest on deposits 36,281 14,827 29,342
Interest on borrowings      
Short-term 272 7 506
Long-term 127 297 247
Total interest expense 36,680 15,131 30,095
NET INTEREST INCOME 202,887 178,088 163,008
Provision for credit losses 9,375 1,077 14,770
CREDIT LOSSES 193,512 177,011 148,238
NONINTEREST INCOME      
Wealth advisory fees 8,636 8,750 7,468
Investment brokerage fees 2,318 1,975 1,670
Service charges on deposit accounts 11,595 10,608 10,110
Loan and service fees 12,214 11,922 10,085
Merchant and interchange fee income 3,560 3,023 2,408
Bank owned life insurance income 432 2,467 2,105
Interest rate swap fee income 579 1,035 5,089
Mortgage banking income 633 1,418 3,911
Net securities gains 21 797 433
Other income 1,874 2,725 3,564
Total noninterest income 41,862 44,720 46,843
NONINTEREST EXPENSE      
Salaries and employee benefits 58,530 57,882 49,413
Net occupancy expense 6,287 5,728 5,851
Equipment costs 5,763 5,530 5,766
Data processing fees and supplies 12,826 12,674 11,864
Corporate and business development 5,198 4,262 3,093
FDIC insurance and other regulatory fees 1,999 2,242 1,707
Professional fees 6,483 7,064 5,314
Other expense 13,124 8,905 8,197
Total noninterest expense 110,210 104,287 91,205
INCOME BEFORE INCOME TAX EXPENSE 125,164 117,444 103,876
Income tax expense 21,347 21,711 19,539
NET INCOME $ 103,817 $ 95,733 $ 84,337
BASIC WEIGHTED AVERAGE COMMON SHARES (in shares) 25,528,328 25,475,994 25,469,242
BASIC EARNINGS PER COMMON SHARE (in USD per share) $ 4.07 $ 3.76 $ 3.31
DILUTED WEIGHTED AVERAGE COMMON SHARES (in shares) 25,712,538 25,620,105 25,573,941
DILUTED EARNINGS PER COMMON SHARE (in USD per share) $ 4.04 $ 3.74 $ 3.30