Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Interest and fees on loans $ 111,287 $ 95,451 $ 214,392 $ 189,254
Taxable securities 10,515 6,315 18,738 12,122
Nontaxable securities 37 86 80 193
Federal funds sold 93 4 106 7
Other interest and dividends 4,623 863 6,427 1,539
Total interest income 126,555 102,719 239,743 203,115
Interest expense:        
Deposits 6,427 6,836 12,270 13,717
Borrowed funds 3,760 1,215 5,383 2,365
Total interest expense 10,187 8,051 17,653 16,082
Net interest income 116,368 94,668 222,090 187,033
Provision for credit losses 9,507 9,652 14,869 17,103
Net interest income after provision for credit losses 106,861 85,016 207,221 169,930
Noninterest income        
Securities (losses) gains (2,833) 620 (6,168) 620
Increase in cash surrender value life insurance 1,633 1,683 3,241 3,341
Other operating income 5,287 777 9,922 1,735
Total noninterest income 9,506 9,598 17,454 18,061
Noninterest expenses:        
Salaries and employee benefits 20,734 16,887 39,035 32,430
Equipment and occupancy expense 2,983 2,844 5,916 5,498
Third party processing and other services 6,345 3,946 11,950 7,362
Professional services 1,327 1,107 2,319 2,030
FDIC and other regulatory assessments 1,147 1,425 2,279 3,007
OREO expense 32 540 35 697
Other operating expenses 7,253 4,560 15,505 9,199
Total noninterest expenses 39,821 31,309 77,039 60,223
Income before income taxes 76,546 63,305 147,636 127,768
Provision for income taxes 14,410 13,278 27,887 26,286
Net income 62,136 50,027 119,749 101,482
Preferred stock dividends 31 31 31 31
Net income available to common stockholders $ 62,105 $ 49,996 $ 119,718 $ 101,451
Basic earnings per common share (in dollars per share) $ 1.14 $ 0.92 $ 2.21 $ 1.87
Diluted earnings per common share (in dollars per share) $ 1.14 $ 0.92 $ 2.20 $ 1.86
Deposit Account [Member]        
Noninterest income        
Noninterest income $ 2,133 $ 1,907 $ 4,275 $ 3,815
Mortgage Banking [Member]        
Noninterest income        
Noninterest income 614 2,699 1,140 5,446
Credit Card [Member]        
Noninterest income        
Noninterest income $ 2,672 $ 1,912 $ 5,044 $ 3,104