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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
Loans including fees:        
Taxable $ 449,896 $ 285,249 $ 860,271 $ 469,264
Nontaxable 10,925 4,802 21,137 8,309
Investment securities:        
Taxable 64,072 51,459 124,873 88,868
Nontaxable 11,043 11,018 22,206 21,284
Money market and other interest-earning investments 8,966 1,830 12,064 2,138
Total interest income 544,902 354,358 1,040,551 589,863
Interest Expense        
Deposits 100,974 5,187 163,567 8,381
Federal funds purchased and interbank borrowings 5,655 2 10,494 2
Securities sold under agreements to repurchase 900 85 1,679 181
Federal Home Loan Bank advances 45,088 6,925 83,084 12,888
Other borrowings 10,114 4,687 18,068 8,154
Total interest expense 162,731 16,886 276,892 29,606
Net interest income 382,171 337,472 763,659 560,257
Provision for credit losses 14,787 9,165 28,224 117,901
Net interest income after provision for credit losses 367,384 328,307 735,435 442,356
Noninterest Income        
Wealth and investment services fees 26,521 27,872 53,441 49,824
Service charges on deposit accounts 17,751 20,324 34,754 34,350
Debit card and ATM fees 10,653 11,222 20,635 18,821
Mortgage banking revenue 4,165 6,522 7,565 13,767
Capital markets income 6,173 7,261 13,112 11,703
Company-owned life insurance 4,698 4,571 7,884 8,095
Debt securities gains (losses), net 17 (85) (5,199) 257
Other income 11,651 11,430 20,118 17,540
Total noninterest income 81,629 89,117 152,310 154,357
Noninterest Expense        
Salaries and employee benefits 135,810 161,817 273,174 285,964
Occupancy 26,085 26,496 54,367 47,515
Equipment 7,721 7,550 15,110 12,718
Marketing 9,833 9,119 19,250 13,395
Technology 20,056 25,883 39,258 44,645
Communication 4,232 5,878 8,693 9,295
Professional fees 6,397 6,336 13,129 26,127
FDIC assessment 9,624 4,699 20,028 7,274
Amortization of intangibles 6,060 7,170 12,246 11,981
Amortization of tax credit investments 2,762 1,525 5,523 3,041
Property optimization 242 0 1,559 0
Other expense 17,762 21,002 34,958 31,109
Total noninterest expense 246,584 277,475 497,295 493,064
Income before income taxes 202,429 139,949 390,450 103,649
Income tax expense 47,393 24,964 88,814 16,250
Net income 155,036 114,985 301,636 87,399
Preferred dividends (4,033) (4,033) (8,067) (6,050)
Net income applicable to common shareholders $ 151,003 $ 110,952 $ 293,569 $ 81,349
Net income per common share - basic (in dollars per share) $ 0.52 $ 0.38 $ 1.01 $ 0.31
Net income per common share - diluted (in dollars per share) $ 0.52 $ 0.38 $ 1.01 $ 0.31
Weighted average number of common shares outstanding - basic (in shares) 290,559 290,862 290,822 259,108
Weighted average number of common shares outstanding - diluted (in shares) 291,266 291,881 291,870 260,253
Dividends per common share (in dollars per share) $ 0.14 $ 0.14 $ 0.28 $ 0.28