Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest and dividend income:    
Interest and fees on loans $ 189,992 $ 114,200
Interest on deposits in other banks 1,493 131
Interest and dividends on securities:    
Taxable 16,753 13,666
Nontaxable 9,308 10,459
Total interest and dividend income 217,546 138,456
Interest expense:    
Interest on deposits 51,834 4,483
Interest on short-term borrowings 7,563 21
Interest on long-term borrowings 4,706 3,021
Total interest expense 64,103 7,525
Net interest income 153,443 130,931
Provision for credit losses 11,850 2,800
Net interest income after provision for credit losses 141,593 128,131
Noninterest income:    
Service charges on deposit accounts 7,902 7,596
Other service charges, commissions and fees 1,746 1,655
Interchange fees 2,325 1,810
Fiduciary and asset management fees 4,262 7,255
Mortgage banking income 854 3,117
Loss on sale of securities (13,400) 0
Bank owned life insurance income 2,828 2,697
Loan-related interest rate swap fees 1,439 3,860
Other operating income 1,672 2,163
Total noninterest income 9,628 30,153
Noninterest expenses:    
Salaries and benefits 60,529 58,298
Occupancy expenses 6,356 6,883
Furniture and equipment expenses 3,752 3,597
Technology and data processing 8,142 7,796
Professional services 3,413 4,090
Marketing and advertising expense 2,351 2,163
FDIC assessment premiums and other insurance 3,899 2,485
Franchise and other taxes 4,498 4,499
Loan-related expenses 1,552 1,776
Amortization of intangible assets 2,279 3,039
Other expenses 11,503 10,695
Total noninterest expenses 108,274 105,321
Income from continuing operations before income taxes 42,947 52,963
Income tax expense 7,294 9,273
Net income 35,653 43,690
Dividends on preferred stock 2,967 2,967
Net Income available to common shareholders $ 32,686 $ 40,723
Basic earnings per common share $ 0.44 $ 0.54
Diluted earnings per common share 0.44 0.54
Dividends declared per common share $ 0.30 $ 0.28
Basic weighted average number of common shares outstanding 74,832,141 75,544,644
Diluted weighted average number of common shares outstanding 74,835,514 75,556,127