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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income        
Interest and fees on loans $ 621,057 $ 320,501 $ 1,179,749 $ 606,199
Mortgage loans held-for-sale 4,178 5,740 7,706 11,827
Interest-bearing deposits with banks 16,882 5,790 30,350 7,477
Federal funds sold and securities purchased under resale agreements 1 1,364 71 1,795
Investment securities 51,243 36,541 111,186 68,939
Trading account securities 6 4 20 9
Federal Home Loan Bank and Federal Reserve Bank stock 3,544 1,823 7,224 3,595
Brokerage customer receivables 265 205 560 379
Total interest income 697,176 371,968 1,336,866 700,220
Interest expense        
Interest on deposits 213,495 18,985 358,297 33,839
Interest on Federal Home Loan Bank advances 17,399 4,878 36,534 9,694
Interest on other borrowings 8,485 2,734 16,339 4,973
Interest on subordinated notes 5,523 5,517 11,011 10,999
Interest on junior subordinated debentures 4,737 2,050 9,153 3,617
Total interest expense 249,639 34,164 431,334 63,122
Net interest income 447,537 337,804 905,532 637,098
Provision for credit losses 28,514 20,417 51,559 24,523
Net interest income after provision for credit losses 419,023 317,387 853,973 612,575
Non-interest income        
Mortgage banking 29,981 33,314 48,245 110,545
Gains (losses) on investment securities, net 0 (7,797) 1,398 (10,579)
Fees from covered call options 2,578 1,069 12,969 4,811
Trading gains, net 106 176 919 4,065
Operating lease income, net 12,227 15,007 25,273 30,482
Other 20,672 13,916 41,681 32,474
Total non-interest income 113,030 102,942 220,799 265,732
Non-interest expense        
Salaries and employee benefits 184,923 167,326 361,704 339,681
Software and equipment 26,205 24,250 50,902 47,060
Operating lease equipment 9,816 8,774 19,649 18,482
Occupancy, net 19,176 17,651 37,662 35,475
Data processing 9,726 8,010 19,135 15,515
Advertising and marketing 17,794 16,615 29,740 28,539
Professional fees 8,940 7,876 17,103 16,277
Amortization of other acquisition-related intangible assets 1,499 1,579 2,734 3,188
FDIC insurance 9,008 6,949 17,677 14,678
Other real estate owned expense, net 118 294 (89) (738)
Other 33,418 29,344 63,575 54,809
Total non-interest expense 320,623 288,668 619,792 572,966
Income before taxes 211,430 131,661 454,980 305,341
Income tax expense 56,680 37,148 120,032 83,437
Net income 154,750 94,513 334,948 221,904
Preferred stock dividends 6,991 6,991 13,982 13,982
Net income applicable to common shares $ 147,759 $ 87,522 $ 320,966 $ 207,922
Net income per common share-Basic (usd per share) $ 2.41 $ 1.51 $ 5.26 $ 3.61
Net income per common share-Diluted (usd per share) 2.38 1.49 5.18 3.56
Cash dividends declared per common share (usd per share) $ 0.40 $ 0.34 $ 0.80 $ 0.68
Weighted average common shares outstanding (in shares) 61,192 58,063 61,072 57,632
Dilutive potential common shares (in shares) 902 775 933 823
Average common shares and dilutive common shares (in shares) 62,094 58,838 62,005 58,455
Wealth management        
Non-interest income        
Revenue from contracts with customers $ 33,858 $ 31,369 $ 63,803 $ 62,763
Service charges on deposit accounts        
Non-interest income        
Revenue from contracts with customers $ 13,608 $ 15,888 $ 26,511 $ 31,171