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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income:        
Interest and fees on loans $ 140,472 $ 115,138 $ 401,129 $ 322,775
Interest and dividends on taxable investments 20,550 18,969 63,230 61,718
Interest and dividends on nontaxable investments 2,878 3,449 9,238 10,569
Total interest income 163,900 137,556 473,597 395,062
Interest expense:        
Interest on deposits 40,592 24,555 117,766 53,431
Interest on borrowings 10,563 5,215 26,687 13,536
Total interest expense 51,155 29,770 144,453 66,967
Net interest income 112,745 107,786 329,144 328,095
Provision for credit losses 7,709 2,878 16,565 7,130
Net interest income after provision for credit losses 105,036 104,908 312,579 320,965
Noninterest revenues:        
Deposit service fees 14,916 14,026 43,338 40,607
Mortgage banking 1,055 113 3,675 399
Other banking services 4,621 3,452 11,470 10,767
Employee benefit services 33,215 29,997 97,031 87,946
Insurance services 13,652 12,113 38,068 35,495
Wealth management services 8,892 7,934 26,793 24,037
Loss on sales of investment securities (255) 0 (487) (52,329)
Gain on debt extinguishment 0 0 0 242
Unrealized gain (loss) on equity securities 101 (49) 984 (99)
Total noninterest revenues 76,197 67,586 220,872 147,065
Noninterest expenses:        
Salaries and employee benefits 78,022 70,687 224,532 210,208
Data processing and communications 15,894 15,480 45,516 42,900
Occupancy and equipment 10,586 10,358 32,663 31,835
Amortization of intangible assets 3,369 3,576 10,822 10,948
Legal and professional fees 3,723 3,826 11,523 12,129
Business development and marketing 4,365 4,628 11,549 12,096
Acquisition-related contingent consideration adjustments (156) 80 (156) 1,080
Litigation accrual 102 0 221 0
Acquisition expenses 66 0 205 56
Other expenses 8,232 7,869 24,411 22,342
Total noninterest expenses 124,203 116,504 361,286 343,594
Income before income taxes 57,030 55,990 172,165 124,436
Income taxes 13,129 11,861 39,477 26,218
Net income $ 43,901 $ 44,129 $ 132,688 $ 98,218
Basic earnings per share $ 0.83 $ 0.82 $ 2.50 $ 1.82
Diluted earnings per share $ 0.83 $ 0.82 $ 2.50 $ 1.82