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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
INTEREST INCOME        
Loans, including fees $ 114,612 $ 78,726 $ 219,008 $ 151,680
Debt securities:        
Taxable 9,408 5,142 18,399 8,923
Tax-exempt 23 23 30 49
Federal funds sold 81 5 113 6
Interest-bearing deposits with banks 26,694 7,600 58,714 9,357
Total interest income 150,818 91,496 296,264 170,015
INTEREST EXPENSE        
Deposits 43,732 3,586 78,909 5,567
Short-term borrowings 129 12 212 13
Subordinated debt 1,031 1,031 2,061 2,061
Total interest expense 44,892 4,629 81,182 7,641
Net interest income 105,926 86,867 215,082 162,374
Provision for credit losses 2,824 501 5,146 3,437
Net interest income after provision for credit losses 103,102 86,366 209,936 158,937
NONINTEREST INCOME        
Securities transactions (includes accumulated other comprehensive loss reclassifications of $0 and $1,536, respectively) 110   (103) (3,915)
Income from sales of loans 757 1,256 1,361 2,922
Insurance commissions 6,225 5,302 14,966 12,729
Cash management 7,927 4,447 14,661 7,578
Gain on sale of other assets 315 118 794 163
Other 5,782 5,908 11,812 16,323
Total noninterest income 47,974 42,598 95,802 86,248
NONINTEREST EXPENSE        
Salaries and employee benefits 49,803 45,284 99,055 89,216
Occupancy, net 5,118 4,734 10,101 9,137
Depreciation 4,769 4,647 9,412 9,422
Amortization of intangible assets 880 857 1,760 1,688
Data processing services 2,217 1,975 4,324 3,780
Net expense from other real estate owned 2,889 (510) 5,348 1,284
Marketing and business promotion 1,900 1,591 4,427 3,664
Deposit insurance 1,463 1,196 3,076 2,324
Other 12,071 13,943 23,924 25,714
Total noninterest expense 81,110 73,717 161,427 146,229
Income before taxes 69,966 55,247 144,311 98,956
Income tax expense 14,956 10,540 31,768 18,334
Net income $ 55,010 $ 44,707 $ 112,543 $ 80,622
NET INCOME PER COMMON SHARE        
Basic $ 1.67 $ 1.36 $ 3.42 $ 2.46
Diluted $ 1.64 $ 1.34 $ 3.36 $ 2.42
OTHER COMPREHENSIVE (LOSS)/GAIN        
Unrealized (loss)/income on debt securities, net of tax benefit/(expense) of $4,350, $5,240, $(154) and $15,459, respectively $ (14,091) $ (16,972) $ 558 $ (49,805)
Reclassification adjustment for loss included in net income, net of tax expense of $0, $0, $0 and $369, respectively       1,167
Other comprehensive (loss)/income, net of tax benefit/(expense) of $4,350, $5,240, $(154) and $15,090, respectively (14,091) (16,972) 558 (48,638)
Comprehensive income 40,919 27,735 113,101 31,984
Trust Revenue [Member]        
NONINTEREST INCOME        
Revenue 4,590 3,949 8,812 7,455
Service Charges on Deposits [Member]        
NONINTEREST INCOME        
Revenue $ 22,268 $ 21,618 $ 43,499 $ 42,993