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, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income:        
Interest and fees on loans $ 194,300 $ 171,718 $ 381,278 $ 335,450
Taxable securities 16,158 11,570 32,137 22,465
Nontaxable securities 9 17 18 38
Federal funds sold 538 227 1,079 841
Other interest and dividends 16,535 6,124 39,738 12,184
Total interest income 227,540 189,656 454,250 370,978
Interest expense:        
Deposits 104,671 71,971 208,737 127,684
Borrowed funds 16,994 16,434 37,143 33,742
Total interest expense 121,665 88,405 245,880 161,426
Net interest income 105,875 101,251 208,370 209,552
Provision for credit losses 5,353 6,654 9,721 10,851
Net interest income after provision for credit losses 100,522 94,597 198,649 198,701
Noninterest income:        
Bank-owned life insurance income 2,058 2,496 5,289 4,117
Other operating income 828 842 1,427 1,477
Total noninterest income 8,891 8,582 17,704 14,903
Noninterest expense:        
Salaries and employee benefits 24,213 18,795 47,199 37,861
Equipment and occupancy expense 3,567 3,421 7,124 6,856
Third party processing and other services 7,465 6,198 14,631 13,482
Professional services 1,741 1,580 3,205 3,234
FDIC and other regulatory assessments 2,202 2,242 6,107 3,759
Other real estate owned expense 7 6 37 12
Other operating expenses 3,623 6,224 10,818 12,926
Total noninterest expenses 42,818 38,466 89,121 78,130
Income before income taxes 66,595 64,713 127,232 135,474
Provision for income taxes 14,459 11,245 25,070 24,035
Net income 52,136 53,468 102,162 111,439
Dividends on preferred stock 31 31 31 31
Net income available to common stockholders $ 52,105 $ 53,437 $ 102,131 $ 111,408
Basic earnings per common share (in dollars per share) $ 0.96 $ 0.98 $ 1.87 $ 2.05
Diluted earnings per common share (in dollars per share) $ 0.95 $ 0.98 $ 1.87 $ 2.04
Deposit Account [Member]        
Noninterest income:        
Service charges on deposit accounts $ 2,293 $ 2,142 $ 4,443 $ 4,076
Mortgage Banking [Member]        
Noninterest income:        
Service charges on deposit accounts 1,379 696 2,057 1,138
Credit Card [Member]        
Noninterest income:        
Service charges on deposit accounts $ 2,333 $ 2,406 $ 4,488 $ 4,095