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Business Segment Reporting (Tables)
9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Schedule of Segment Financial Results

Business Segment financial results for the three and nine months ended September 30, 2021 and September 30, 2020 were as follows (in thousands):

 

 

 

Three Months Ended September 30, 2021

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

143,935

 

 

$

21,203

 

 

$

44,627

 

 

$

209,765

 

Provision for credit losses

 

 

(5,720

)

 

 

172

 

 

 

548

 

 

 

(5,000

)

Noninterest income

 

 

16,523

 

 

 

65,551

 

 

 

25,833

 

 

 

107,907

 

Noninterest expense

 

 

74,359

 

 

 

73,354

 

 

 

61,156

 

 

 

208,869

 

Income before taxes

 

 

91,819

 

 

 

13,228

 

 

 

8,756

 

 

 

113,803

 

Income tax expense

 

 

15,601

 

 

 

2,248

 

 

 

1,487

 

 

 

19,336

 

Net income

 

$

76,218

 

 

$

10,980

 

 

$

7,269

 

 

$

94,467

 

Average assets

 

$

15,766,000

 

 

$

11,976,000

 

 

$

8,131,000

 

 

$

35,873,000

 

 

 

 

Three Months Ended September 30, 2020

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

122,362

 

 

$

23,375

 

 

$

38,647

 

 

$

184,384

 

Provision for credit losses

 

 

14,032

 

 

 

193

 

 

 

1,775

 

 

 

16,000

 

Noninterest income

 

 

22,464

 

 

 

62,688

 

 

 

27,844

 

 

 

112,996

 

Noninterest expense

 

 

65,175

 

 

 

69,667

 

 

 

63,153

 

 

 

197,995

 

Income before taxes

 

 

65,619

 

 

 

16,203

 

 

 

1,563

 

 

 

83,385

 

Income tax expense

 

 

8,100

 

 

 

2,000

 

 

 

193

 

 

 

10,293

 

Net income

 

$

57,519

 

 

$

14,203

 

 

$

1,370

 

 

$

73,092

 

Average assets

 

$

12,957,000

 

 

$

10,019,000

 

 

$

6,505,000

 

 

$

29,481,000

 

 

 

 

 

Nine Months Ended September 30, 2021

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

412,622

 

 

$

64,599

 

 

$

127,730

 

 

$

604,951

 

Provision for credit losses

 

 

8,107

 

 

 

539

 

 

 

2,854

 

 

 

11,500

 

Noninterest income

 

 

60,294

 

 

 

202,718

 

 

 

85,381

 

 

 

348,393

 

Noninterest expense

 

 

209,144

 

 

 

217,211

 

 

 

184,798

 

 

 

611,153

 

Income before taxes

 

 

255,665

 

 

 

49,567

 

 

 

25,459

 

 

 

330,691

 

Income tax expense

 

 

43,427

 

 

 

8,419

 

 

 

4,323

 

 

 

56,169

 

Net income

 

$

212,238

 

 

$

41,148

 

 

$

21,136

 

 

$

274,522

 

Average assets

 

$

14,987,000

 

 

$

11,734,000

 

 

$

7,681,000

 

 

$

34,402,000

 

 

 

 

Nine Months Ended September 30, 2020

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

342,406

 

 

$

84,534

 

 

$

109,614

 

 

$

536,554

 

Provision for credit losses

 

 

115,533

 

 

 

766

 

 

 

9,201

 

 

 

125,500

 

Noninterest income

 

 

57,782

 

 

 

191,128

 

 

 

82,966

 

 

 

331,876

 

Noninterest expense

 

 

186,341

 

 

 

215,073

 

 

 

193,733

 

 

 

595,147

 

Income (loss) before taxes

 

 

98,314

 

 

 

59,823

 

 

 

(10,354

)

 

 

147,783

 

Income tax expense (benefit)

 

 

11,709

 

 

 

7,125

 

 

 

(1,233

)

 

 

17,601

 

Net income (loss)

 

$

86,605

 

 

$

52,698

 

 

$

(9,121

)

 

$

130,182

 

Average assets

 

$

12,318,000

 

 

$

9,572,000

 

 

$

6,001,000

 

 

$

27,891,000