XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Loans including fees:        
Taxable $ 285,249 $ 123,577 $ 469,264 $ 246,106
Nontaxable 4,802 3,171 8,309 6,528
Investment securities:        
Taxable 51,459 24,401 88,868 48,532
Nontaxable 11,018 9,261 21,284 18,393
Money market and other interest-earning investments 1,830 48 2,138 136
Total interest income 354,358 160,458 589,863 319,695
Interest Expense        
Deposits 5,187 2,732 8,381 5,891
Federal funds purchased and interbank borrowings 2 0 2 0
Securities sold under agreements to repurchase 85 95 181 215
Federal Home Loan Bank advances 6,925 5,218 12,888 10,627
Other borrowings 4,687 2,486 8,154 4,915
Total interest expense 16,886 10,531 29,606 21,648
Net interest income 337,472 149,927 560,257 298,047
Provision for credit losses 9,245 (4,929) 106,814 (22,285)
Net interest income after provision for credit losses 328,227 154,856 453,443 320,332
Noninterest Income        
Wealth management fees 19,304 10,734 33,934 20,442
Service charges on deposit accounts 21,144 8,514 35,870 16,638
Debit card and ATM fees 10,402 5,583 17,301 10,726
Mortgage banking revenue 6,522 7,827 13,767 24,352
Investment product fees 8,568 6,042 15,890 11,906
Capital markets income 7,261 5,871 11,703 9,586
Company-owned life insurance 4,571 2,783 8,095 5,497
Debt securities gains (losses), net (85) 692 257 2,685
Other income 11,430 3,462 17,540 6,388
Total noninterest income 89,117 51,508 154,357 108,220
Noninterest Expense        
Salaries and employee benefits 161,817 72,640 285,964 140,757
Occupancy 26,496 14,054 47,515 28,926
Equipment 7,550 4,506 12,718 8,475
Marketing 9,119 2,632 13,395 4,694
Data processing 25,883 11,697 44,645 24,050
Communication 5,878 2,411 9,295 5,289
Professional fees 6,336 8,528 26,127 11,252
FDIC assessment 4,699 1,226 7,274 2,833
Amortization of intangibles 7,170 2,909 11,981 5,984
Amortization of tax credit investments 1,525 1,813 3,041 3,015
Other expense 20,922 7,202 42,196 12,083
Total noninterest expense 277,395 129,618 504,151 247,358
Income before income taxes 139,949 76,746 103,649 181,194
Income tax expense 24,964 13,960 16,250 31,590
Net income 114,985 62,786 87,399 149,604
Preferred dividends (4,033) 0 (6,050) 0
Net income applicable to common shareholders $ 110,952 $ 62,786 $ 81,349 $ 149,604
Net income per common share - basic (in dollars per share) $ 0.38 $ 0.38 $ 0.31 $ 0.91
Net income per common share - diluted (in dollars per share) $ 0.38 $ 0.38 $ 0.31 $ 0.90
Weighted average number of common shares outstanding - basic (in shares) 290,862 165,175 259,108 165,086
Weighted average number of common shares outstanding - diluted (in shares) 291,881 165,934 260,253 165,821
Dividends per common share (in dollars per share) $ 0.14 $ 0.14 $ 0.28 $ 0.28