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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Loans, including fees $ 478,896 $ 252,182 $ 910,798 $ 479,229
Securities:        
Taxable 31,967 12,725 61,325 23,773
Tax-exempt 24,603 19,898 48,405 37,344
Federal funds sold and other 39,773 7,571 60,750 10,647
Total interest income 575,239 292,376 1,081,278 550,993
Interest expense:        
Deposits 228,668 18,181 405,257 28,431
Securities sold under agreements to repurchase 783 82 1,378 138
Federal Home Loan Bank advances and other borrowings 30,395 9,539 47,019 18,375
Total interest expense 259,846 27,802 453,654 46,944
Net interest income 315,393 264,574 627,624 504,049
Provision for credit losses 31,689 12,907 50,456 15,627
Net interest income after provision for credit losses 283,704 251,667 577,168 488,422
Noninterest income:        
Total noninterest income 173,839 125,502 263,368 228,998
Noninterest expense:        
Salaries and employee benefits 132,443 126,611 268,151 248,463
Equipment and occupancy 33,706 26,921 64,059 52,457
Other real estate expense, net 58 86 157 191
Marketing and other business development 5,664 4,759 11,606 8,536
Postage and supplies 2,863 2,320 5,682 4,691
Amortization of intangibles 1,780 2,051 3,574 3,922
Other noninterest expense 35,127 33,290 70,139 60,439
Total noninterest expense 211,641 196,038 423,368 378,699
Income before income taxes 245,902 181,131 417,168 338,721
Income tax expense 48,603 36,004 82,598 64,484
Net income 197,299 145,127 334,570 274,237
Preferred stock dividends (3,798) (3,798) (7,596) (7,596)
Net income available to common shareholders $ 193,501 $ 141,329 $ 326,974 $ 266,641
Per share information:        
Basic net income per common share $ 2.55 $ 1.87 $ 4.30 $ 3.52
Diluted net income per common share $ 2.54 $ 1.86 $ 4.30 $ 3.51
Weighted average common shares outstanding:        
Basic 76,030,081 75,751,296 75,975,982 75,703,407
Diluted 76,090,321 75,940,500 76,061,883 75,934,025
Service charges on deposit accounts        
Noninterest income:        
Total noninterest income $ 12,180 $ 11,616 $ 23,898 $ 22,646
Investment services        
Noninterest income:        
Total noninterest income 14,174 13,205 25,769 23,896
Insurance sales commissions        
Noninterest income:        
Total noninterest income 3,252 2,554 7,716 6,590
Gain on mortgage loans sold, net        
Noninterest income:        
Total noninterest income 1,567 2,150 3,620 6,216
Investment losses on sales, net        
Noninterest income:        
Total noninterest income (9,961) 0 (9,961) (61)
Trust fees        
Noninterest income:        
Total noninterest income 6,627 6,065 13,056 12,038
Income from equity method investment        
Noninterest income:        
Total noninterest income 26,924 49,465 46,003 83,120
Gain on sale of fixed assets        
Noninterest income:        
Total noninterest income 85,724 65 85,859 198
Other noninterest income        
Noninterest income:        
Total noninterest income $ 33,352 $ 40,382 $ 67,408 $ 74,355