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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
INTEREST INCOME        
Loans, including fees $ 270,937 $ 244,292 $ 532,427 $ 471,790
Interest bearing balances due from banks and federal funds sold 2,964 4,023 5,974 6,806
Investment securities 55,050 48,751 113,051 97,525
Mortgage loans held for sale 194 154 342 236
TOTAL INTEREST INCOME 329,145 297,220 651,794 576,357
INTEREST EXPENSE        
Deposits 153,033 108,364 304,966 195,892
Federal funds purchased and securities sold under agreements to repurchase 156 318 345 641
Other borrowings 15,025 18,612 26,674 27,460
Subordinated notes and debentures 7,026 6,696 13,998 11,299
TOTAL INTEREST EXPENSE 175,240 133,990 345,983 235,292
NET INTEREST INCOME 153,905 163,230 305,811 341,065
Provision for credit losses 11,099 61 21,305 24,277
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 142,806 163,169 284,506 316,788
NONINTEREST INCOME        
Bank owned life insurance income 3,876 2,555 7,690 5,528
Loss on sale of securities, net 0 (391) 0 (391)
Other income 6,410 9,843 13,582 21,099
TOTAL NONINTEREST INCOME 43,299 44,980 86,483 90,815
NONINTEREST EXPENSE        
Salaries and employee benefits 70,716 74,723 143,369 151,761
Occupancy expense, net 11,864 11,410 24,122 22,988
Furniture and equipment expense 5,623 5,128 10,764 10,179
Other real estate and foreclosure expense 117 289 296 475
Deposit insurance 5,682 5,201 12,817 10,094
Merger related costs 0 19 0 1,415
Other operating expenses 45,352 42,926 87,865 86,012
TOTAL NONINTEREST EXPENSE 139,354 139,696 279,233 282,924
INCOME BEFORE INCOME TAXES 46,751 68,453 91,756 124,679
Provision for income taxes 5,988 10,139 12,122 20,776
NET INCOME $ 40,763 $ 58,314 $ 79,634 $ 103,903
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.32 $ 0.46 $ 0.64 $ 0.82
DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.32 $ 0.46 $ 0.63 $ 0.82
Service charges on deposit accounts        
NONINTEREST INCOME        
Non-interest income $ 12,252 $ 12,882 $ 24,207 $ 25,319
Debit and credit card fees        
NONINTEREST INCOME        
Non-interest income 8,162 7,986 16,408 15,938
Wealth management fees        
NONINTEREST INCOME        
Non-interest income 8,274 7,440 15,752 14,805
Mortgage lending income        
NONINTEREST INCOME        
Non-interest income 1,973 2,403 4,293 3,973
Other service charges and fees        
NONINTEREST INCOME        
Non-interest income $ 2,352 $ 2,262 $ 4,551 $ 4,544