Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Income

v3.25.4
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest income:      
Interest and fees on loans $ 828,696 $ 788,105 $ 699,101
Taxable securities 67,122 66,535 53,499
Nontaxable securities 21 31 65
Federal funds sold 12,007 1,128 2,844
Other interest and dividends 82,581 90,322 57,737
Total interest income 990,427 946,121 813,246
Interest expense:      
Deposits 373,888 420,650 331,740
Borrowed funds 81,330 78,812 70,569
Total interest expense 455,218 499,462 402,309
Net interest income 535,209 446,659 410,937
Provision for credit losses 35,311 21,587 18,715
Net interest income after provision for credit losses 499,898 425,072 392,222
Noninterest income:      
Securities losses (16,375) 0 0
Bank-owned life insurance income 14,817 9,533 7,574
Other operating income 3,105 2,887 3,037
Total noninterest income 27,222 35,056 30,417
Noninterest expenses:      
Salaries and employee benefits 94,815 96,318 80,965
Equipment and occupancy expense 14,597 14,519 14,295
Third party processing and other services 31,617 31,181 27,872
Professional services 7,175 6,901 5,916
FDIC and other regulatory assessments 10,990 10,687 15,614
Other real estate owned expense 155 199 47
Other operating expenses 25,641 21,341 33,342
Total noninterest expenses 184,990 181,146 178,051
Income before income taxes 342,130 278,982 244,588
Provision for income taxes 65,527 [1] 51,740 [2] 37,735 [3]
Net income 276,603 227,242 206,853
Dividends on preferred stock 62 62 62
Net income available to common stockholders $ 276,541 $ 227,180 $ 206,791
Basic earnings per common share (in dollars per share) $ 5.06 $ 4.17 $ 3.8
Diluted earnings per common share (in dollars per share) $ 5.06 $ 4.16 $ 3.79
Deposit Account [Member]      
Noninterest income:      
Revenue not from contract with customer $ 11,884 $ 9,434 $ 8,420
Mortgage Banking [Member]      
Noninterest income:      
Revenue not from contract with customer 5,464 4,922 2,755
Credit Card [Member]      
Noninterest income:      
Revenue not from contract with customer $ 8,327 $ 8,280 $ 8,631
[1] (1) Post-adoption of ASU 2023-09
[2] (3) 2024 and 2023 are pre-adoption of ASU 2023-09
[3] (3) 2024 and 2023 are pre-adoption of ASU 2023-09