Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

v3.21.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income:        
Interest and fees on loans $ 95,451 $ 89,383 $ 189,254 $ 178,768
Taxable securities 6,315 5,092 12,122 10,246
Nontaxable securities 86 211 193 444
Federal funds sold 4 34 7 311
Other interest and dividends 863 360 1,539 2,078
Total interest income 102,719 95,080 203,115 191,847
Interest expense:        
Deposits 6,836 10,756 13,717 27,501
Borrowed funds 1,215 1,090 2,365 3,472
Total interest expense 8,051 11,846 16,082 30,973
Net interest income 94,668 83,234 187,033 160,874
Provision for credit losses 9,652 10,283 17,103 23,867
Net interest income after provision for credit losses 85,016 72,951 169,930 137,007
Noninterest income:        
Securities gains 620 0 620 0
Increase in cash surrender value life insurance 1,683 1,464 3,341 2,917
Other operating income 777 241 1,735 710
Total noninterest income 9,598 7,033 18,061 13,707
Noninterest expenses:        
Salaries and employee benefits 16,887 15,792 32,430 31,450
Equipment and occupancy expense 2,844 2,434 5,498 4,834
Third party processing and other services 3,946 3,622 7,362 7,079
Professional services 1,107 1,091 2,030 2,039
FDIC and other regulatory assessments 1,425 595 3,007 1,927
OREO expense 540 1,303 697 1,904
Other operating expenses 4,560 3,979 9,199 7,503
Total noninterest expenses 31,309 28,816 60,223 56,736
Income before income taxes 63,305 51,168 127,768 93,978
Provision for income taxes 13,278 10,720 26,286 18,752
Net income 50,027 40,448 101,482 75,226
Preferred stock dividends 31 31 31 31
Net income available to common stockholders $ 49,996 $ 40,417 $ 101,451 $ 75,195
Basic earnings per common share (in dollars per share) $ 0.92 $ 0.75 $ 1.87 $ 1.40
Diluted earnings per common share (in dollars per share) $ 0.92 $ 0.75 $ 1.86 $ 1.39
Deposit Account [Member]        
Noninterest income:        
Noninterest income $ 1,907 $ 1,823 $ 3,815 $ 3,739
Mortgage Banking [Member]        
Noninterest income:        
Noninterest income 2,699 2,107 5,446 3,178
Credit Card [Member]        
Noninterest income:        
Noninterest income $ 1,912 $ 1,398 $ 3,104 $ 3,163