Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

v3.22.2.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest income:        
Interest and fees on loans $ 131,375 $ 96,119 $ 345,767 $ 285,373
Taxable securities 11,089 6,544 29,827 18,666
Nontaxable securities 30 62 110 255
Federal funds sold 632 4 738 11
Other interest and dividends 6,173 1,507 12,600 3,046
Total interest income 149,299 104,236 389,042 307,351
Interest expense:        
Deposits 13,655 6,581 25,925 20,298
Borrowed funds 9,226 1,335 14,609 3,700
Total interest expense 22,881 7,916 40,534 23,998
Net interest income 126,418 96,320 348,508 283,353
Provision for credit losses 15,603 5,963 30,472 23,066
Net interest income after provision for credit losses 110,815 90,357 318,036 260,287
Noninterest income        
Securities (losses) gains 0 0 (6,168) 620
Increase in cash surrender value life insurance 1,637 1,671 4,878 5,012
Other operating income 2,014 1,162 11,936 2,897
Total noninterest income 8,939 8,026 26,393 26,087
Noninterest expenses:        
Salaries and employee benefits 19,687 17,995 58,722 50,425
Equipment and occupancy expense 3,140 2,996 9,056 8,494
Third party processing and other services 7,213 4,144 19,163 11,506
Professional services 1,036 948 3,355 2,978
FDIC and other regulatory assessments 975 1,630 3,254 4,637
OREO expense 21 123 56 820
Other operating expenses 10,613 6,541 26,118 15,740
Total noninterest expenses 42,685 34,377 119,724 94,600
Income before income taxes 77,069 64,006 224,705 191,774
Provision for income taxes 13,038 11,507 40,925 37,793
Net income 64,031 52,499 183,780 153,981
Preferred stock dividends 0 0 31 31
Net income available to common stockholders $ 64,031 $ 52,499 $ 183,749 $ 153,950
Basic earnings per common share (in dollars per share) $ 1.18 $ 0.97 $ 3.38 $ 2.84
Diluted earnings per common share (in dollars per share) $ 1.17 $ 0.96 $ 3.37 $ 2.83
Deposit Account [Member]        
Noninterest income        
Noninterest income $ 1,892 $ 1,727 $ 6,167 $ 5,542
Mortgage Banking [Member]        
Noninterest income        
Noninterest income 784 1,423 1,924 6,869
Credit Card [Member]        
Noninterest income        
Noninterest income $ 2,612 $ 2,043 $ 7,656 $ 5,147