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CONDENSED CONSOLIDATED STATEMENTS OF 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:        
Interest and fees on loans $ 144,274 $ 106,221 $ 284,001 $ 205,715
Interest on loans held for sale 307 145 459 343
Interest on deposits with banks 4,922 358 7,608 471
Interest and dividend income on investment securities:        
Taxable 6,848 4,630 13,856 8,737
Tax-advantaged 1,795 2,554 3,565 4,678
Interest on federal funds sold 4 1 8 1
Total interest income 158,150 113,909 309,497 219,945
Interest expense:        
Interest on deposits 51,325 3,795 92,113 6,088
Interest on retail repurchase agreements and federal funds purchased 4,191 201 6,295 255
Interest on advances from FHLB 8,216 17 15,423 17
Interest on subordinated debt 3,947 3,946 7,893 6,184
Total interest expense 67,679 7,959 121,724 12,544
Net interest income 90,471 105,950 187,773 207,401
Provision/ (credit) for credit losses 5,055 3,046 (16,481) 4,681
Net interest income after provision/ (credit) for credit losses 85,416 102,904 204,254 202,720
Non-interest income:        
Investment securities gains 0 38 0 46
Gain on disposal of assets 0 16,699 0 16,699
Insurance agency commissions 0 812 0 2,927
Income from bank owned life insurance 1,251 703 2,158 1,498
Other income 2,024 2,135 4,025 4,183
Total non-interest income 17,176 35,245 33,127 55,840
Non-interest expense:        
Salaries and employee benefits 40,931 39,550 79,857 78,923
Occupancy expense of premises 4,764 4,734 9,611 9,768
Equipment expense 3,760 3,559 7,877 7,095
Marketing 1,589 1,280 3,132 2,473
Outside data services 2,853 2,564 5,367 4,983
FDIC insurance 2,375 1,078 4,513 2,062
Amortization of intangible assets 1,269 1,466 2,575 2,974
Merger, acquisition and disposal expense 0 1,067 0 1,067
Professional fees and services 4,161 2,372 7,845 4,389
Other expenses 7,434 7,321 14,664 13,404
Total non-interest expense 69,136 64,991 135,441 127,138
Income before income tax expense 33,456 73,158 101,940 131,422
Income tax expense 8,711 18,358 25,942 32,687
Net income $ 24,745 $ 54,800 $ 75,998 $ 98,735
Per share information:        
Basic net income per common share (in dollars per share) $ 0.55 $ 1.21 $ 1.69 $ 2.18
Diluted net income per common share (in dollars per share) 0.55 1.21 1.69 2.17
Dividends declared per share (in dollars per share) $ 0.34 $ 0.34 $ 0.68 $ 0.68
Service charges on deposit accounts        
Non-interest income:        
Fees and commissions, mortgage banking and servicing $ 2,606 $ 2,467 $ 4,994 $ 4,793
Mortgage banking activities        
Non-interest income:        
Fees and commissions, mortgage banking and servicing 1,817 1,483 3,062 3,781
Wealth management income        
Non-interest income:        
Fees and commissions, mortgage banking and servicing 9,031 9,098 18,023 18,435
Bank card fees        
Non-interest income:        
Fees and commissions, mortgage banking and servicing $ 447 $ 1,810 $ 865 $ 3,478