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Merger, Acquisition, and Divestiture Activity (Tables)
 12 Months Ended
Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Summary of Business Acquisition The following table presents a summary of the assets acquired and liabilities assumed, net of the fair value adjustments and the fair value of consideration as of the merger date:
(dollars and shares in thousands)February 15,
2022
Assets
Cash and cash equivalents$1,912,629 
Investment securities3,526,278 
FHLB/Federal Reserve Bank stock106,097 
Loans held for sale13,809 
Loans, net of allowance for credit losses14,298,873 
Premises and equipment111,867 
Operating lease right-of-use assets129,698 
Accrued interest receivable53,502 
Goodwill961,722 
Other intangible assets117,584 
Company-owned life insurance301,025 
Other assets317,258 
Total assets$21,850,342 
Liabilities
Deposits$17,249,404 
Securities sold under agreements to repurchase135,194 
Federal Home Loan Bank advances1,158,623 
Other borrowings274,569 
Accrued expenses and other liabilities342,369 
Total liabilities$19,160,159 
Fair value of consideration
Preferred stock$243,870 
Common stock (129,365 shares issued at $18.92 per share)
2,446,312 
Total consideration$2,690,182 
Schedule of Pro Forma Information
The following table presents supplemental unaudited pro-forma financial information as if the First Midwest merger had occurred on January 1, 2021. The pro-forma financial information is not necessarily indicative of the results of operations that would have occurred had the transaction been effective as of this assumed date.
Years Ended December 31,
(dollars in thousands)20222021
Total revenues (1)
$1,812,333 $1,564,287 
Income before income taxes749,009 382,102 
(1)    Includes net interest income and total noninterest income.