Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

v3.21.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income:        
Interest and fees on loans $ 96,119 $ 89,564 $ 285,373 $ 268,332
Taxable securities 6,544 5,858 18,666 16,104
Nontaxable securities 62 166 255 610
Federal funds sold 4 16 11 327
Other interest and dividends 1,507 506 3,046 2,584
Total interest income 104,236 96,110 307,351 287,957
Interest expense:        
Deposits 6,581 9,876 20,298 37,377
Borrowed funds 1,335 1,152 3,700 4,624
Total interest expense 7,916 11,028 23,998 42,001
Net interest income 96,320 85,082 283,353 245,956
Provision for credit losses 5,963 12,284 23,066 36,151
Net interest income after provision for credit losses 90,357 72,798 260,287 209,805
Noninterest income:        
Securities gains 0 0 620 0
Increase in cash surrender value life insurance 1,671 1,733 5,012 4,650
Other operating income 1,162 262 2,897 972
Total noninterest income 8,026 8,172 26,087 21,879
Noninterest expenses:        
Salaries and employee benefits 17,995 14,994 50,425 46,444
Equipment and occupancy expense 2,996 2,556 8,494 7,390
Third party processing and other services 4,144 3,281 11,506 10,360
Professional services 948 955 2,978 2,994
FDIC and other regulatory assessments 1,630 1,061 4,637 2,988
OREO expense 123 119 820 2,023
Other operating expenses 6,541 3,607 15,740 11,110
Total noninterest expenses 34,377 26,573 94,600 83,309
Income before income taxes 64,006 54,397 191,774 148,375
Provision for income taxes 11,507 11,035 37,793 29,787
Net income 52,499 43,362 153,981 118,588
Preferred stock dividends 0 0 31 31
Net income available to common stockholders $ 52,499 $ 43,362 $ 153,950 $ 118,557
Basic earnings per common share (in dollars per share) $ 0.97 $ 0.80 $ 2.84 $ 2.20
Diluted earnings per common share (in dollars per share) $ 0.96 $ 0.80 $ 2.83 $ 2.19
Deposit Account [Member]        
Noninterest income:        
Noninterest income $ 1,727 $ 1,818 $ 5,542 $ 5,557
Mortgage Banking [Member]        
Noninterest income:        
Noninterest income 1,423 2,519 6,869 5,697
Credit Card [Member]        
Noninterest income:        
Noninterest income $ 2,043 $ 1,840 $ 5,147 $ 5,003