Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

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Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest income:      
Interest and fees on loans $ 385,721 $ 362,664 $ 354,308
Taxable securities 25,413 22,122 17,008
Nontaxable securities 302 739 1,429
Federal funds sold 29 332 6,038
Other interest and dividends 4,840 3,165 12,020
Total interest income 416,305 389,022 390,803
Interest expense:      
Deposits 26,569 45,230 90,958
Borrowed funds 5,233 5,755 12,200
Total interest expense 31,802 50,985 103,158
Net interest income 384,503 338,037 287,645
Provision for credit losses 31,517 42,434 22,638
Net interest income after provision for credit losses 352,986 295,603 265,007
Noninterest income:      
Securities gains 620 0 27
Increase in cash surrender value life insurance 6,642 6,310 3,746
Other operating income 4,664 1,615 1,743
Total noninterest income 33,452 30,116 23,982
Noninterest expenses:      
Salaries and employee benefits 67,728 61,414 57,783
Equipment and occupancy expense 11,404 10,070 9,272
Third party processing and other services 16,362 13,778 11,234
Professional services 3,891 4,242 4,235
FDIC and other regulatory assessments 5,679 4,354 2,975
Other real estate owned expense 868 2,163 415
Other operating expenses 27,157 15,490 16,214
Total noninterest expenses 133,089 111,511 102,128
Income before income taxes 253,349 214,208 186,861
Provision for income taxes 45,615 44,639 37,618
Net income 207,734 169,569 149,243
Dividends on preferred stock 62 63 63
Net income available to common stockholders $ 207,672 $ 169,506 $ 149,180
Basic earnings per common share (in dollars per share) $ 3.83 $ 3.15 $ 2.79
Diluted earnings per common share (in dollars per share) $ 3.82 $ 3.13 $ 2.76
Deposit Account [Member]      
Noninterest income:      
Noninterest income $ 6,839 $ 7,528 $ 7,029
Mortgage Banking [Member]      
Noninterest income:      
Noninterest income 7,340 8,747 4,361
Credit Card [Member]      
Noninterest income:      
Noninterest income $ 7,347 $ 5,916 $ 7,076