Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

v3.23.3
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income:        
Interest and fees on loans $ 178,754 $ 131,375 $ 514,204 $ 345,767
Taxable securities 15,522 11,089 37,987 29,827
Nontaxable securities 15 30 53 110
Federal funds sold 985 632 1,826 738
Other interest and dividends 17,930 6,173 30,114 12,600
Total interest income 213,206 149,299 584,184 389,042
Interest expense:        
Deposits 95,901 13,655 223,585 25,925
Borrowed funds 17,607 9,226 51,349 14,609
Total interest expense 113,508 22,881 274,934 40,534
Net interest income 99,698 126,418 309,250 348,508
Provision for credit losses 4,282 15,603 15,133 30,472
Net interest income after provision for credit losses 95,416 110,815 294,117 318,036
Noninterest income        
Securities losses 0 0 0 (6,168)
Bank-owned life insurance income 1,818 1,637 5,935 6,978
Other operating income 797 2,014 2,274 9,836
Total noninterest income 8,135 8,939 23,038 26,393
Noninterest expenses:        
Salaries and employee benefits 20,080 19,687 57,941 58,722
Equipment and occupancy expense 3,579 3,140 10,435 9,056
Third party processing and other services 6,549 7,213 20,031 19,163
Professional services 1,265 1,036 4,499 3,355
FDIC and other regulatory assessments 2,346 975 6,105 3,254
OREO expense 18 21 30 56
Other operating expenses 7,826 10,613 20,752 26,118
Total noninterest expenses 41,663 42,685 119,793 119,724
Income before income taxes 61,888 77,069 197,362 224,705
Provision for income taxes 8,548 13,038 32,583 40,925
Net income 53,340 64,031 164,779 183,780
Preferred stock dividends 0 0 31 31
Net income available to common stockholders $ 53,340 $ 64,031 $ 164,748 $ 183,749
Basic earnings per common share (in dollars per share) $ 0.98 $ 1.18 $ 3.03 $ 3.38
Diluted earnings per common share (in dollars per share) $ 0.98 $ 1.17 $ 3.02 $ 3.37
Deposit Account [Member]        
Noninterest income        
Noninterest income $ 2,163 $ 1,892 $ 6,239 $ 6,167
Mortgage Banking [Member]        
Noninterest income        
Noninterest income 825 784 1,963 1,924
Credit Card [Member]        
Noninterest income        
Noninterest income $ 2,532 $ 2,612 $ 6,627 $ 7,656