XML 22 R5.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Loans including fees:      
Taxable $ 2,139,437 $ 1,815,390 $ 1,177,816
Nontaxable 50,517 44,687 25,931
Investment securities:      
Taxable 323,703 263,210 204,004
Nontaxable 42,159 43,851 43,637
Money market and other interest-earning investments 45,835 39,683 2,814
Total interest income 2,601,651 2,206,821 1,454,202
Interest Expense      
Deposits 846,262 484,360 49,093
Federal funds purchased and interbank borrowings 3,262 11,412 5,021
Securities sold under agreements to repurchase 2,752 3,299 843
Federal Home Loan Bank advances 177,317 161,860 51,524
Other borrowings 41,275 42,737 19,785
Total interest expense 1,070,868 703,668 126,266
Net interest income 1,530,783 1,503,153 1,327,936
Provision for credit losses 110,619 58,887 144,799
Net interest income after provision for credit losses 1,420,164 1,444,266 1,183,137
Noninterest Income      
Wealth and investment services fees 116,791 107,784 100,851
Service charges on deposit accounts 78,175 71,945 72,501
Debit card and ATM fees 43,400 42,153 40,227
Mortgage banking revenue 26,237 16,319 23,015
Capital markets income 20,299 24,419 25,986
Company-owned life insurance 20,987 15,397 14,564
Debt securities gains (losses), net (212) (6,265) (88)
Gain on sale of Visa Class B restricted shares 0 21,635 0
Gain on sale of health savings accounts 0 0 90,673
Other income 49,020 39,955 32,050
Total noninterest income 354,697 333,342 399,779
Noninterest Expense      
Salaries and employee benefits 603,095 546,364 575,626
Occupancy 110,429 106,676 100,421
Equipment 36,588 32,163 27,637
Marketing 45,607 39,511 32,264
Technology 88,797 80,343 84,865
Communication 17,337 16,980 18,846
Professional fees 35,291 27,335 39,046
FDIC assessment 44,681 56,730 19,332
Amortization of intangibles 27,528 24,155 25,857
Amortization of tax credit investments 13,329 15,367 10,961
Property optimization 0 1,559 26,818
Other expense 71,741 79,123 76,510
Total noninterest expense 1,094,423 1,026,306 1,038,183
Income before income taxes 680,438 751,302 544,733
Income tax expense 141,250 169,310 116,446
Net income 539,188 581,992 428,287
Preferred dividends (16,135) (16,135) (14,118)
Net income applicable to common shareholders $ 523,053 $ 565,857 $ 414,169
Net income per common share - basic (in dollars per share) $ 1.69 $ 1.95 $ 1.51
Net income per common share - diluted (in dollars per share) $ 1.68 $ 1.94 $ 1.50
Weighted average number of common shares outstanding - basic (in shares) 309,499 290,748 275,179
Weighted average number of common shares outstanding - diluted (in shares) 311,001 291,855 276,688
Dividends per common share (in dollars per share) $ 0.56 $ 0.56 $ 0.56