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Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has one reportable segment: The Banking Segment. The Company's reportable segment is determined by the Chairman & Chief Executive Officer, who is the designated chief operating decision maker ("CODM"), based upon information provided about the Company's products and services offered, primarily banking operations. The segment is also distinguished by the level of information provided to the CODM, who uses such information to review performance of various components of the business such as geographical regions and branches, which are then aggregated since these have similar operating and economic characteristics. Each of the branches and regions of the Bank provide a group of similar banking services, including such products and services as commercial, real estate and consumer loans, time deposits, checking and savings accounts.
The CODM will evaluate the financial performance of the Company's business components such as evaluating revenue streams, significant expenses and budget to actual results in order to assess the Company's segment and to determine the allocation of resources. The CODM uses revenue streams to evaluate product pricing and significant expenses to assess performance and evaluate return on assets. The CODM uses consolidated net income in order to benchmark the Company against its competitors. The benchmarking analysis coupled with monitoring of budget to actual results are used in assessment performance and in establishing compensation. Loans, investments and deposits provide the revenues in the banking operation. Interest expense, provision for credit losses and payroll provide the significant expenses in the banking operation. All operations are domestic.
Accounting policies for segments are the same as those described in Note 1. Segment performance is evaluated using consolidated net income. The table below presents the information reported internally for performance assessment by the CODM for years ended December 31, 2024, 2023 and 2022:
Banking Segment202420232022
(In thousands)
Interest Income$1,299,777 $1,175,053 $877,766 
Reconciliation of revenue:
Other Revenues*
168,574 169,934 175,111 
Total consolidated revenues$1,468,351 $1,344,987 $1,052,877 
Less:
Interest Expense451,003 348,108 119,090 
Segment net interest income and noninterest income$1,017,348 $996,879 $933,787 
Less:
Provision for credit losses48,070 12,133 63,585 
Salaries and employee benefits241,022 256,966 238,885 
Occupancy and equipment**
58,031 60,303 53,417 
Data Processing expense36,494 36,329 34,942 
Merger and acquisition expense— — 49,594 
Other expense36,963 32,967 27,905 
FDIC and state assessment15,388 25,530 8,428 
Electronic banking expense13,444 14,313 13,632 
Other segment items***
45,594 46,455 48,824 
Income tax expense120,101 118,954 89,313 
Segment net income/consolidated net income
402,241 392,929 305,262 
Reconciliation of profit or loss:
Adjustments and reconciling items — — — 
Consolidated net income$402,241 $392,929 $305,262 
*Includes earnings in equity method investments of $5.1 million, $12.7 million and $9.9 million for the years ended December 31, 2024, 2023 and 2022, respectively.
** Includes depreciation and amortization expense of $29.2 million, $30.9 million and $31.9 million for the years ended December 31, 2024, 2023 and 2022, respectively.
***Other segment items include expenses for advertising, amortization of intangibles, directors' fees, due from bank service charges, hurricane damage, insurance expense, legal and accounting fees, other professional fees, operating supplies, postage and telephone.