Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Income (Unaudited)

v3.25.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Interest and fees on loans $ 206,521 $ 194,300 $ 403,457 $ 381,278
Taxable securities 16,562 16,158 32,585 32,137
Nontaxable securities 5 9 11 18
Federal funds sold and securities purchased with agreement to resell 1,592 538 1,612 1,079
Other interest and dividends 21,955 16,535 50,066 39,738
Total interest income 246,635 227,540 487,731 454,250
Interest expense:        
Deposits 93,488 104,671 188,233 208,737
Borrowed funds 21,460 16,994 44,258 37,143
Total interest expense 114,948 121,665 232,491 245,880
Net interest income 131,687 105,875 255,240 208,370
Provision for credit losses 11,296 5,353 17,926 9,721
Net interest income after provision for credit losses 120,391 100,522 237,314 198,649
Noninterest income:        
Securities losses (8,563) 0 (8,563) 0
Bank-owned life insurance income 2,126 2,058 4,263 5,289
Other operating income 745 828 1,746 1,427
Total noninterest income 421 8,891 8,698 17,704
Noninterest expense:        
Salaries and employee benefits 22,576 24,213 45,455 47,199
Equipment and occupancy expense 3,523 3,567 7,245 7,124
Third party processing and other services 8,005 7,465 15,743 14,631
Professional services 1,904 1,741 3,837 3,205
FDIC and other regulatory assessments 2,753 2,202 5,607 6,107
Other real estate owned expense 27 7 60 37
Other operating expenses 5,416 3,623 12,364 10,818
Total noninterest expenses 44,204 42,818 90,311 89,121
Income before income taxes 76,608 66,595 155,701 127,232
Provision for income taxes 15,184 14,459 31,053 25,070
Net income 61,424 52,136 124,648 102,162
Dividends on preferred stock 31 31 31 31
Net income available to common stockholders $ 61,393 $ 52,105 $ 124,617 $ 102,131
Basic earnings per common share (in dollars per share) $ 1.12 $ 0.96 $ 2.28 $ 1.87
Diluted earnings per common share (in dollars per share) $ 1.12 $ 0.95 $ 2.28 $ 1.87
Deposit Account [Member]        
Noninterest income:        
Revenue not from contract with customer $ 2,671 $ 2,293 $ 5,229 $ 4,443
Mortgage Banking [Member]        
Noninterest income:        
Revenue not from contract with customer 1,323 1,379 1,936 2,057
Credit Card [Member]        
Noninterest income:        
Revenue not from contract with customer $ 2,119 $ 2,333 $ 4,087 $ 4,488