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Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Loans including fees:        
Taxable $ 545,622 $ 449,896 $ 1,032,983 $ 860,271
Nontaxable 13,243 10,925 26,345 21,137
Investment securities:        
Taxable 82,755 64,072 157,782 124,873
Nontaxable 10,732 11,043 21,238 22,206
Money market and other interest-earning investments 11,311 8,966 21,296 12,064
Total interest income 663,663 544,902 1,259,644 1,040,551
Interest Expense        
Deposits 215,806 100,974 401,245 163,567
Federal funds purchased and interbank borrowings 1,986 5,655 2,947 10,494
Securities sold under agreements to repurchase 639 900 1,556 1,679
Federal Home Loan Bank advances 44,643 45,088 85,810 83,084
Other borrowings 12,168 10,114 23,207 18,068
Total interest expense 275,242 162,731 514,765 276,892
Net interest income 388,421 382,171 744,879 763,659
Provision for credit losses 36,214 14,787 55,105 28,224
Net interest income after provision for credit losses 352,207 367,384 689,774 735,435
Noninterest Income        
Wealth and investment services fees 29,358 26,521 57,662 53,441
Service charges on deposit accounts 19,350 17,751 37,248 34,754
Debit card and ATM fees 10,993 10,653 21,047 20,635
Mortgage banking revenue 7,064 4,165 11,542 7,565
Capital markets income 4,729 6,173 7,629 13,112
Company-owned life insurance 5,739 4,698 9,173 7,884
Debt securities gains (losses), net 2 17 (14) (5,199)
Other income 10,036 11,651 20,506 20,118
Total noninterest income 87,271 81,629 164,793 152,310
Noninterest Expense        
Salaries and employee benefits 159,193 135,810 308,996 273,174
Occupancy 26,547 26,085 53,566 54,367
Equipment 8,704 7,721 17,375 15,110
Marketing 11,284 9,833 21,918 19,250
Technology 24,002 20,056 44,025 39,258
Communication 4,480 4,232 8,480 8,693
Professional fees 10,552 6,397 16,958 13,129
FDIC assessment 9,676 9,624 20,989 20,028
Amortization of intangibles 7,425 6,060 12,880 12,246
Amortization of tax credit investments 2,747 2,762 5,496 5,523
Other expense 18,389 18,004 34,633 36,517
Total noninterest expense 282,999 246,584 545,316 497,295
Income before income taxes 156,479 202,429 309,251 390,450
Income tax expense 35,250 47,393 67,738 88,814
Net income 121,229 155,036 241,513 301,636
Preferred dividends (4,033) (4,033) (8,067) (8,067)
Net income applicable to common shareholders $ 117,196 $ 151,003 $ 233,446 $ 293,569
Net income per common share - basic (in dollars per share) $ 0.37 $ 0.52 $ 0.77 $ 1.01
Net income per common share - diluted (in dollars per share) $ 0.37 $ 0.52 $ 0.77 $ 1.01
Weighted average number of common shares outstanding - basic (in shares) 315,585 290,559 303,283 290,822
Weighted average number of common shares outstanding - diluted (in shares) 316,461 291,266 304,207 291,870
Dividends per common share (in dollars per share) $ 0.14 $ 0.14 $ 0.28 $ 0.28