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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest Income        
Loans $ 130,908 $ 105,168 $ 349,060 $ 305,195
Taxable securities 31,987 26,374 103,771 73,940
Tax-exempt securities 3,662 2,714 11,142 8,299
Deposits in banks 1,191 284 2,373 595
Total interest income 167,748 134,540 466,346 388,029
Interest Expense        
Deposits 4,446 1,468 8,706 4,379
FHLB advances and FRB borrowings 109 73 253 217
Subordinated debentures 220 435 536 1,371
Other borrowings 481 24 708 66
Total interest expense 5,256 2,000 10,203 6,033
Net Interest Income 162,492 132,540 456,143 381,996
Provision (recapture) for credit losses 5,250 0 (450) (6,300)
Net interest income after provision (recapture) for credit losses 157,242 132,540 456,593 388,296
Noninterest Income        
Deposit account and treasury management fees 8,181 6,893 23,506 19,952
Card revenue 4,988 4,889 14,986 13,395
Financial services and trust revenue 4,292 4,250 13,116 11,876
Loan revenue 2,853 5,184 9,927 17,067
Bank owned life insurance 1,939 1,585 5,751 4,780
Investment securities gain (loss), net 0 0 0 314
Other 4,374 1,157 8,527 2,470
Total noninterest income 26,627 23,958 75,813 69,854
Noninterest Expense        
Compensation and employee benefits 60,744 54,679 181,209 159,865
Occupancy 10,469 9,695 31,110 27,739
Data processing and software 10,548 8,515 30,057 24,368
Legal and professional fees 4,022 4,894 15,739 10,973
Amortization of intangibles 2,219 1,835 6,726 5,611
B&O taxes 1,771 1,583 4,944 4,332
Advertising and promotion 830 678 2,764 2,026
Regulatory premiums 1,782 1,214 4,779 3,431
Net cost (benefit) of operation of OREO (4) 4 122 52
Other 9,065 6,910 24,428 19,285
Total noninterest expense 101,446 90,007 301,878 257,682
Income before income taxes 82,423 66,491 230,528 200,468
Income tax provision 17,481 13,474 49,256 40,559
Net Income $ 64,942 $ 53,017 $ 181,272 $ 159,909
Earnings per common share        
Basic $ 0.83 $ 0.75 $ 2.32 $ 2.25
Diluted $ 0.83 $ 0.74 $ 2.32 $ 2.24
Weighted average number of common shares outstanding 78,100 71,036 78,027 70,965
Weighted average number of diluted common shares outstanding 78,233 71,186 78,142 71,155