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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
INTEREST INCOME        
Loans, including fees $ 255,901 $ 187,347 $ 727,691 $ 478,101
Interest bearing balances due from banks and federal funds sold 3,569 1,141 10,375 2,907
Investment securities 50,638 40,954 148,163 112,514
Mortgage loans held for sale 178 178 414 568
Other loans held for sale 0 998 0 3,061
TOTAL INTEREST INCOME 310,286 230,618 886,643 597,151
INTEREST EXPENSE        
Deposits 133,157 25,429 329,049 42,000
Federal funds purchased and securities sold under agreements to repurchase 277 305 918 492
Other borrowings 16,450 6,048 43,910 15,671
Subordinated notes and debentures 6,969 5,251 18,268 14,698
TOTAL INTEREST EXPENSE 156,853 37,033 392,145 72,861
NET INTEREST INCOME 153,433 193,585 494,498 524,290
Provision for credit losses 7,722 103 31,999 14,048
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 145,711 193,482 462,499 510,242
NONINTEREST INCOME        
Bank owned life insurance income 3,095 2,902 8,623 8,171
Loss on sale of securities, net 0 (22) (391) (226)
Other income 7,433 6,658 28,532 20,761
TOTAL NONINTEREST INCOME 42,777 43,023 133,592 125,419
NONINTEREST EXPENSE        
Salaries and employee benefits 67,374 71,923 219,135 213,964
Occupancy expense, net 12,020 11,674 35,008 32,701
Furniture and equipment expense 5,117 5,394 15,296 15,273
Other real estate and foreclosure expense 228 168 703 653
Deposit insurance 4,672 3,278 14,766 7,928
Merger related costs 5 1,422 1,420 22,441
Other operating expenses 42,582 45,084 128,594 131,213
TOTAL NONINTEREST EXPENSE 131,998 138,943 414,922 424,173
INCOME BEFORE INCOME TAXES 56,490 97,562 181,169 211,488
Provision for income taxes 9,243 16,959 30,019 38,336
NET INCOME $ 47,247 $ 80,603 $ 151,150 $ 173,152
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.38 $ 0.63 $ 1.19 $ 1.41
DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.37 $ 0.63 $ 1.19 $ 1.40
Service charges on deposit accounts        
NONINTEREST INCOME        
Non-interest income $ 12,429 $ 12,560 $ 37,748 $ 34,635
Debit and credit card fees        
NONINTEREST INCOME        
Non-interest income 7,712 7,685 23,650 23,358
Wealth management fees        
NONINTEREST INCOME        
Non-interest income 7,719 8,562 22,524 23,744
Mortgage lending income        
NONINTEREST INCOME        
Non-interest income 2,157 2,593 6,130 9,383
Other service charges and fees        
NONINTEREST INCOME        
Non-interest income $ 2,232 $ 2,085 $ 6,776 $ 5,593