v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Loans and leases, including fees $ 108,845 $ 114,200 $ 217,916 $ 230,549
Investment securities:        
Investment securities available-for-sale 18,299 21,225 37,033 42,671
Investment securities held-to-maturity 12,886 13,445 25,907 26,847
Total investment income 31,185 34,670 62,940 69,518
Dividends from FHLB stock 411 377 790 796
Interest-earning deposits with other institutions 3,768 9,825 5,565 15,898
Total interest income 144,209 159,072 287,211 316,761
Interest expense:        
Deposits 24,829 25,979 50,151 47,345
Borrowings and customer repurchase agreements 7,401 22,244 14,201 46,106
Other 371 0 807 0
Total interest expense 32,601 48,223 65,159 93,451
Net interest income before provision for (recapture of) credit losses 111,608 110,849 222,052 223,310
Provision for (recapture of) credit losses 0 0 (2,000) 0
Net interest income after provision for (recapture of) credit losses 111,608 110,849 224,052 223,310
Noninterest income:        
BOLI income 3,228 2,942 6,059 6,535
Gain on OREO, net 0 0 2,183 0
Other 2,194 2,567 4,460 4,442
Total noninterest income 14,744 14,424 30,973 28,537
Noninterest expense:        
Salaries and employee benefits 34,999 35,426 71,476 71,827
Occupancy and equipment 6,106 5,772 12,104 11,337
Professional services 2,191 2,726 4,272 4,981
Computer software expense 4,410 3,949 8,631 7,474
Marketing and promotion 1,817 1,956 3,805 3,586
Provision for (recapture of) unfunded loan commitments (0) (500) 500 (500)
Amortization of intangible assets 1,155 1,437 2,310 2,875
Other 6,879 5,731 13,603 14,688
Total noninterest expense 57,557 56,497 116,701 116,268
Earnings before income taxes 68,795 68,776 138,324 135,579
Income taxes 18,231 18,741 36,656 36,945
Net earnings 50,564 50,035 101,668 98,634
Other comprehensive income (loss):        
Unrealized gain (loss) on securities arising during the period, before tax 15,645 1,513 64,999 (15,560)
Less: Income tax (expense) benefit related to items of other comprehensive income (6,477) (556) (21,067) 4,801
Other comprehensive income (loss), net of tax 9,168 957 43,932 (10,759)
Comprehensive income (loss) $ 59,732 $ 50,992 $ 145,600 $ 87,875
Basic earnings per common share $ 0.37 $ 0.36 $ 0.73 $ 0.71
Diluted earnings per common share $ 0.37 $ 0.36 $ 0.73 $ 0.71
Service Charges on Deposit Accounts [Member]        
Noninterest income:        
Revenue from contract with customer, including assessed tax $ 4,959 $ 5,117 $ 9,867 $ 10,153
Trust and Investment Services [Member]        
Noninterest income:        
Revenue from contract with customer, including assessed tax 3,716 3,428 7,127 6,652
Bankcard Services [Member]        
Noninterest income:        
Revenue from contract with customer, including assessed tax $ 647 $ 370 $ 1,277 $ 755