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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
INTEREST INCOME        
Loans $ 169,919 $ 154,537 $ 319,389 $ 304,707
Securities:        
Taxable interest 47,295 29,780 90,677 56,942
Tax-exempt interest 23,538 24,743 47,393 49,707
Total securities income 70,833 54,523 138,070 106,649
Federal funds and resell agreements 3,497 2,552 5,947 5,373
Interest-bearing due from banks 4,207 833 6,664 1,536
Trading securities 114 189 299 348
Total interest income 248,570 212,634 470,369 418,613
INTEREST EXPENSE        
Deposits 15,439 6,574 21,612 13,372
Federal funds and repurchase agreements 4,998 1,779 7,146 3,665
Other 3,342 3,210 6,465 6,390
Total interest expense 23,779 11,563 35,223 23,427
Net interest income 224,791 201,071 435,146 395,186
Provision for credit losses 13,400 24,000 6,900 16,500
Net interest income after provision for credit losses 211,391 177,071 428,246 378,686
NONINTEREST INCOME        
Trust and securities processing 58,886 53,863 118,414 108,697
Trading and investment banking 7,123 8,670 12,563 18,026
Service charges on deposit accounts 20,835 22,592 45,477 44,568
Insurance fees and commissions 245 245 504 665
Brokerage fees 12,391 2,592 15,847 5,926
Bankcard fees 17,840 16,063 34,475 30,736
Investment securities gains, net 60,720 15,455 60,198 7,119
Other (1,705) 12,109 12,535 24,749
Total noninterest income 176,335 131,589 300,013 240,486
NONINTEREST EXPENSE        
Salaries and employee benefits 121,390 120,415 252,024 248,096
Occupancy, net 11,976 12,296 24,208 24,231
Equipment 18,315 19,196 36,479 38,811
Supplies and services 3,492 3,469 6,754 6,961
Marketing and business development 5,308 4,797 10,240 7,142
Processing fees 19,338 16,501 37,781 31,918
Legal and consulting 11,265 8,147 18,176 13,902
Bankcard 5,880 4,529 12,447 9,485
Amortization of other intangible assets 1,225 1,157 2,296 2,537
Regulatory fees 3,464 2,769 6,946 5,315
Other 12,474 8,062 21,554 13,886
Total noninterest expense 214,127 201,338 428,905 402,284
Income before income taxes 173,599 107,322 299,354 216,888
Income tax expense 36,043 19,910 55,835 36,833
NET INCOME $ 137,556 $ 87,412 $ 243,519 $ 180,055
PER SHARE DATA        
Net income – basic $ 2.85 $ 1.81 $ 5.03 $ 3.74
Net income – diluted 2.83 1.79 4.99 3.70
Dividends $ 0.37 $ 0.32 $ 0.74 $ 0.64
Weighted average shares outstanding – basic 48,347,226 48,294,952 48,376,868 48,196,345
Weighted average shares outstanding – diluted 48,673,964 48,698,319 48,755,059 48,604,140