Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

v3.23.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Interest and fees on loans $ 171,718 $ 111,287 $ 335,450 $ 214,392
Taxable securities 11,570 10,515 22,465 18,738
Nontaxable securities 17 37 38 80
Federal funds sold 227 93 841 106
Other interest and dividends 6,124 4,623 12,184 6,427
Total interest income 189,656 126,555 370,978 239,743
Interest expense:        
Deposits 71,971 6,427 127,684 12,270
Borrowed funds 16,434 3,760 33,742 5,383
Total interest expense 88,405 10,187 161,426 17,653
Net interest income 101,251 116,368 209,552 222,090
Provision for credit losses 6,654 9,507 10,851 14,869
Net interest income after provision for credit losses 94,597 106,861 198,701 207,221
Noninterest income        
Securities losses 0 (2,833) 0 (6,168)
Bank-owned life insurance income 2,496 3,733 4,117 5,341
Other operating income 842 3,187 1,477 7,822
Total noninterest income 8,582 9,506 14,903 17,454
Noninterest expenses:        
Salaries and employee benefits 18,795 20,734 37,861 39,035
Equipment and occupancy expense 3,421 2,983 6,856 5,916
Third party processing and other services 6,198 6,345 13,482 11,950
Professional services 1,580 1,327 3,234 2,319
FDIC and other regulatory assessments 2,242 1,147 3,759 2,279
OREO expense 6 32 12 35
Other operating expenses 6,224 7,253 12,926 15,505
Total noninterest expenses 38,466 39,821 78,130 77,039
Income before income taxes 64,713 76,546 135,474 147,636
Provision for income taxes 11,245 14,410 24,035 27,887
Net income 53,468 62,136 111,439 119,749
Preferred stock dividends 31 31 31 31
Net income available to common stockholders $ 53,437 $ 62,105 $ 111,408 $ 119,718
Basic earnings per common share (in dollars per share) $ 0.98 $ 1.14 $ 2.05 $ 2.21
Diluted earnings per common share (in dollars per share) $ 0.98 $ 1.14 $ 2.04 $ 2.20
Deposit Account [Member]        
Noninterest income        
Noninterest income $ 2,142 $ 2,133 $ 4,076 $ 4,275
Mortgage Banking [Member]        
Noninterest income        
Noninterest income 696 614 1,138 1,140
Credit Card [Member]        
Noninterest income        
Noninterest income $ 2,406 $ 2,672 $ 4,095 $ 5,044