Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v3.22.4
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest income:      
Interest and fees on loans $ 499,691 $ 385,721 $ 362,664
Taxable securities 40,722 25,413 22,122
Nontaxable securities 137 302 739
Federal funds sold 1,556 29 332
Other interest and dividends 17,209 4,840 3,165
Total interest income 559,315 416,305 389,022
Interest expense:      
Deposits 59,396 26,569 45,230
Borrowed funds 29,027 5,233 5,755
Total interest expense 88,423 31,802 50,985
Net interest income 470,892 384,503 338,037
Provision for credit losses 37,607 31,517 42,434
Net interest income after provision for credit losses 433,285 352,986 295,603
Noninterest income      
Securities (losses) gains (6,168) 620 0
Increase in cash surrender value life insurance 6,478 6,642 6,310
Other operating income 12,661 4,664 1,615
Total noninterest income 33,359 33,452 30,116
Noninterest expenses:      
Salaries and employee benefits 77,952 67,728 61,414
Equipment and occupancy expense 12,319 11,404 10,070
Third party processing and other services 27,333 16,362 13,778
Professional services 4,277 3,891 4,242
FDIC and other regulatory assessments 4,565 5,679 4,354
Other real estate owned expense 295 868 2,163
Other operating expenses 31,075 27,157 15,490
Total noninterest expenses 157,816 133,089 111,511
Income before income taxes 308,828 253,349 214,208
Provision for income taxes 57,324 45,615 44,639
Net income 251,504 207,734 169,569
Dividends on preferred stock 62 62 63
Net income available to common stockholders $ 251,442 $ 207,672 $ 169,506
Basic earnings per common share (in dollars per share) $ 4.63 $ 3.83 $ 3.15
Diluted earnings per common share (in dollars per share) $ 4.61 $ 3.82 $ 3.13
Deposit Account [Member]      
Noninterest income      
Noninterest income $ 8,033 $ 6,839 $ 7,528
Mortgage Banking [Member]      
Noninterest income      
Noninterest income 2,438 7,340 8,747
Credit Card [Member]      
Noninterest income      
Noninterest income $ 9,917 $ 7,347 $ 5,916