v3.24.1.u1
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest and dividend income:    
Interest and fees on loans $ 234,600 $ 189,992
Interest on deposits in other banks 1,280 1,493
Interest and dividends on securities:    
Taxable 18,879 16,753
Nontaxable 8,156 9,308
Total interest and dividend income 262,915 217,546
Interest expense:    
Interest on deposits 101,864 51,834
Interest on short-term borrowings 8,161 7,563
Interest on long-term borrowings 5,065 4,706
Total interest expense 115,090 64,103
Net interest income 147,825 153,443
Provision for credit losses 8,239 11,850
Net interest income after provision for credit losses 139,586 141,593
Noninterest income:    
Service charges on deposit accounts 8,569 7,902
Other service charges, commissions and fees 1,731 1,746
Interchange fees 2,294 2,325
Fiduciary and asset management fees 4,838 4,262
Mortgage banking income 867 854
Gain (loss) on sale of securities 3 (13,400)
Bank owned life insurance income 3,245 2,828
Loan-related interest rate swap fees 1,216 1,439
Other operating income 2,789 1,672
Total noninterest income 25,552 9,628
Noninterest expenses:    
Salaries and benefits 61,882 60,529
Occupancy expenses 6,625 6,356
Furniture and equipment expenses 3,309 3,752
Technology and data processing 8,127 8,142
Professional services 3,081 3,413
Marketing and advertising expense 2,318 2,351
FDIC assessment premiums and other insurance 5,143 3,899
Franchise and other taxes 4,501 4,498
Loan-related expenses 1,323 1,552
Amortization of intangible assets 1,895 2,279
Other expenses 7,069 11,503
Total noninterest expenses 105,273 108,274
Income before income taxes 59,865 42,947
Income tax expense 10,096 7,294
Net Income 49,769 35,653
Dividends on preferred stock 2,967 2,967
Net income available to common shareholders $ 46,802 $ 32,686
Basic earnings per common share $ 0.62 $ 0.44
Diluted earnings per common share 0.62 0.44
Dividends declared per common share $ 0.32 $ 0.30
Basic weighted average number of common shares outstanding 75,197,113 74,832,141
Diluted weighted average number of common shares outstanding 75,197,376 74,835,514

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