Income Statement

v3.22.1
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest income:    
Interest and fees on loans $ 103,105 $ 93,803
Taxable securities 8,223 5,807
Nontaxable securities 43 107
Federal funds sold 13 3
Other interest and dividends 1,804 676
Total interest income 113,188 100,396
Interest expense:    
Deposits 5,843 6,881
Borrowed funds 1,623 1,150
Total interest expense 7,466 8,031
Net interest income 105,722 92,365
Provision for credit losses 5,362 7,451
Net interest income after provision for credit losses 100,360 84,914
Noninterest income    
Securities losses (3,335) 0
Increase in cash surrender value life insurance 1,608 1,658
Other operating income 4,635 958
Total noninterest income 7,948 8,463
Noninterest expense:    
Salaries and employee benefits 18,301 15,543
Equipment and occupancy 2,933 2,654
Third party processing and other services 5,605 3,416
Professional services 992 923
FDIC and other regulatory assessments 1,132 1,582
Other real estate owned 3 157
Other operating expense 8,252 4,639
Total noninterest expense 37,218 28,914
Income before income taxes 71,090 64,463
Provision for income taxes 13,477 13,008
Net income 57,613 51,455
Dividends on preferred stock 0 0
Net income available to common stockholders $ 57,613 $ 51,455
Basic earnings per common share (in dollars per share) $ 1.06 $ 0.95
Diluted earnings per common share (in dollars per share) $ 1.06 $ 0.95
Deposit Account [Member]    
Noninterest income    
Noninterest income $ 2,142 $ 1,908
Mortgage Banking [Member]    
Noninterest income    
Noninterest income 526 2,747
Credit Card [Member]    
Noninterest income    
Noninterest income $ 2,372 $ 1,192

Source