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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
Business Combination, Acquisition Related Costs $ 0 $ 1,943 $ 7,100 $ 3,674
Interest income        
Interest and fees on loans 150,157 84,212 413,770 265,409
Interest Income, Securities, Operating, Taxable 13,243 7,792 34,567 21,603
Nontaxable interest and dividends on securities 1 4 4 14
Interest on loans held for sale 51 193 150 675
Interest on federal funds sold and short-term investments 6,519 815 10,222 1,654
Total interest and dividend income 169,971 93,016 458,713 289,355
Interest expense        
Interest on deposits 6,109 1,633 10,327 6,361
Interest on borrowings 1,261 1,292 3,492 3,965
Total interest expense 7,370 2,925 13,819 10,326
Net interest income 162,601 90,091 444,894 279,029
Provision for (release of) credit losses 3,000 (10,000) 1,000 (17,500)
Net interest income after provision for credit losses 159,601 100,091 443,894 296,529
Noninterest income        
Deposit account fees 6,261 4,298 17,582 11,704
Interchange and ATM fees 4,331 3,441 11,967 9,229
Investment Banking, Advisory, Brokerage, and Underwriting Fees and Commissions 8,436 9,174 26,438 26,350
Mortgage banking income 585 2,825 2,989 11,270
Bank Owned Life Insurance Income 1,883 1,596 5,549 4,508
Gain Realized on Life Insurance Policies (477) 0 (600) (258)
Loan level derivative income 471 586 1,511 875
Other noninterest income 5,751 4,537 15,729 12,476
Total noninterest income 28,195 26,457 82,365 76,670
Noninterest expenses        
Salaries and employee benefits 52,708 42,235 150,957 124,759
Occupancy and equipment expenses 12,316 8,564 37,255 26,543
Data processing & facilities management 2,259 1,673 6,878 5,024
Business Combination, Acquisition Related Costs 0 1,943 7,100 3,674
Software Maintenance 2,497 2,018 7,706 5,903
Amortization of Intangible Assets 1,898 1,310 5,801 4,037
FDIC assessment 1,677 980 5,225 2,805
Debit card expense 1,936 1,347 5,562 3,693
Professional Fees 2,547 1,560 7,057 5,443
Other noninterest expenses 14,890 10,789 45,249 33,522
Total noninterest expenses 92,728 72,419 278,790 215,403
Income before income taxes 95,068 54,129 247,469 157,796
Current Federal, State and Local, Tax Expense (Benefit) 23,171 14,122 60,699 38,506
Net income $ 71,897 $ 40,007 $ 186,770 $ 119,290
Basic earnings per share (in dollars per share) $ 1.57 $ 1.21 $ 4.01 $ 3.61
Diluted earnings per share (in dollars per share) $ 1.57 $ 1.21 $ 4.00 $ 3.61
Weighted average common shares (basic) (in shares) 45,839,555 33,043,716 46,618,209 33,024,386
Common shares equivalents (in shares) 16,856 15,554 17,221 18,238
Weighted average common shares (diluted) (in shares) 45,856,411 33,059,270 46,635,430 33,042,624
Retained Earnings [Member]        
Noninterest expenses        
Net income $ 71,897 $ 40,007 $ 186,770 $ 119,290
Cash dividends declared per common share (in dollars per share) $ 0.51 $ 0.48 $ 1.53 $ 1.44