Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

v3.23.1
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest income:    
Interest and fees on loans $ 163,732 $ 103,105
Taxable securities 10,895 8,223
Nontaxable securities 21 43
Federal funds sold 614 13
Other interest and dividends 6,060 1,804
Total interest income 181,322 113,188
Interest expense:    
Deposits 55,713 5,843
Borrowed funds 17,308 1,623
Total interest expense 73,021 7,466
Net interest income 108,301 105,722
Provision for credit losses 4,197 5,362
Net interest income after provision for credit losses 104,104 100,360
Noninterest income    
Securities losses 0 (3,335)
Increase in cash surrender value life insurance 1,621 1,608
Other operating income 635 4,635
Total noninterest income 6,321 7,948
Noninterest expense:    
Salaries and employee benefits 19,066 18,301
Equipment and occupancy 3,435 2,933
Third party processing and other services 7,284 5,605
Professional services 1,654 992
FDIC and other regulatory assessments 1,517 1,132
Other real estate owned 6 3
Other operating expense 6,702 8,252
Total noninterest expense 39,664 37,218
Income before income taxes 70,761 71,090
Provision for income taxes 12,790 13,477
Net income 57,971 57,613
Dividends on preferred stock 0 0
Net income available to common stockholders $ 57,971 $ 57,613
Basic earnings per common share (in dollars per share) $ 1.07 $ 1.06
Diluted earnings per common share (in dollars per share) $ 1.06 $ 1.06
Deposit Account [Member]    
Noninterest income    
Noninterest income $ 1,934 $ 2,142
Mortgage Banking [Member]    
Noninterest income    
Noninterest income 442 526
Credit Card [Member]    
Noninterest income    
Noninterest income $ 1,689 $ 2,372