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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest and dividend income:    
Taxable $ 66,634 $ 37,428
Nontaxable 17,312 6,768
Securities:    
Taxable 3,366 2,398
Nontaxable 5,337 4,150
Interest-bearing deposits at financial institutions 821 35
Restricted investment securities 513 281
Federal funds sold 234 2
Total interest and dividend income 94,217 51,062
Interest expense:    
Deposits 29,780 3,137
Short-term borrowings 99  
Federal Home Loan Bank advances 3,521 82
Subordinated notes 3,311 1,554
Junior subordinated debentures 696 556
Total interest expense 37,407 5,329
Net interest income 56,810 45,733
Provision for credit losses 3,928 (2,916)
Net interest income after provision for credit losses 52,882 48,649
Noninterest income:    
Revenue 120,059 66,695
Gains on sales of residential real estate loans, net 312 493
Gains on sales of government guaranteed portions of loans, net 30 19
Capital markets revenue 17,023 6,422
Securities losses, net (463)  
Earnings on bank-owned life insurance 707 346
Loan related fee income 651 480
Fair value gain (loss) on derivatives (427) 906
Other 339 129
Total noninterest income 25,842 15,633
Noninterest expense:    
Salaries and employee benefits 32,003 23,627
Occupancy and equipment expense 5,914 3,937
Professional and data processing fees 3,514 3,671
Acquisition costs   1,851
Post-acquisition compensation, transition and integration costs 207  
FDIC insurance, other insurance and regulatory fees 1,374 1,310
Loan/lease expense 556 267
Net income from and gains/losses on operations of other real estate (67) (1)
Advertising and marketing 1,237 761
Communication and data connectivity 665 403
Supplies 305 246
Bank service charges 605 541
Correspondent banking expense 210 199
Intangibles amortization 766 493
Payment card processing 545 262
Trust expense 214 187
Other 737 571
Total noninterest expense 48,785 38,325
Net income before income taxes 29,939 25,957
Federal and state income tax expense 2,782 2,333
Net income $ 27,157 $ 23,624
Basic earnings per common share $ 1.62 $ 1.51
Diluted earnings per common share $ 1.60 $ 1.49
Weighted average common shares outstanding 16,776,289 15,625,112
Weighted average common and common equivalent shares outstanding 16,942,132 15,852,256
Cash dividends declared per common share $ 0.06 $ 0.06
Trust fees    
Noninterest income:    
Revenue $ 2,906 $ 2,963
Investment advisory and management fees    
Noninterest income:    
Revenue 879 1,036
Deposit service fees    
Noninterest income:    
Revenue 2,028 1,555
Debit card fees    
Noninterest income:    
Revenue 1,466 1,007
Correspondent banking fees    
Noninterest income:    
Revenue $ 391 $ 277