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 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income:        
Interest and fees on loans $ 205,952 $ 178,754 $ 587,230 $ 514,204
Taxable securities 17,493 15,522 49,630 37,987
Nontaxable securities 7 15 25 53
Federal funds sold 31 985 1,110 1,826
Other interest and dividends 24,496 17,930 64,234 30,114
Total interest income 247,979 213,206 702,229 584,184
Interest expense:        
Deposits 113,211 95,901 321,948 223,585
Borrowed funds 19,647 17,607 56,790 51,349
Total interest expense 132,858 113,508 378,738 274,934
Net interest income 115,121 99,698 323,491 309,250
Provision for credit losses 5,659 4,282 15,883 15,133
Net interest income after provision for credit losses 109,462 95,416 307,608 294,117
Noninterest income:        
Bank-owned life insurance income 2,113 1,818 7,402 5,935
Other operating income 818 797 2,245 2,274
Total noninterest income 8,549 8,135 26,253 23,038
Noninterest expense:        
Salaries and employee benefits 25,057 20,080 72,256 57,941
Equipment and occupancy expense 3,795 3,579 10,919 10,435
Third party processing and other services 8,035 6,549 22,666 20,031
Professional services 1,715 1,265 4,920 4,499
FDIC and other regulatory assessments 2,355 2,346 8,462 6,105
Other real estate owned expense 103 18 141 30
Other operating expenses 4,572 7,826 14,886 20,752
Total noninterest expenses 45,632 41,663 134,250 119,793
Income before income taxes 72,379 61,888 199,611 197,362
Provision for income taxes 12,472 8,548 37,542 32,583
Net income 59,907 53,340 162,069 164,779
Dividends on preferred stock 0 0 31 31
Net income available to common stockholders $ 59,907 $ 53,340 $ 162,038 $ 164,748
Basic earnings per common share (in dollars per share) $ 1.1 $ 0.98 $ 2.97 $ 3.03
Diluted earnings per common share (in dollars per share) $ 1.1 $ 0.98 $ 2.97 $ 3.02
Deposit Account [Member]        
Noninterest income:        
Revenue not from contract with customer $ 2,341 $ 2,163 $ 6,784 $ 6,239
Mortgage Banking [Member]        
Noninterest income:        
Revenue not from contract with customer 1,352 825 3,409 1,963
Credit Card [Member]        
Noninterest income:        
Revenue not from contract with customer $ 1,925 $ 2,532 $ 6,413 $ 6,627