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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income:        
Loans, including fees $ 158,534 $ 104,818 $ 453,700 $ 273,936
Investment securities:        
Taxable 34,598 20,718 96,582 50,846
Tax-exempt 1,561 625 4,708 1,326
Other interest income 9,482 18,926 35,458 24,995
Total interest income 204,175 145,087 590,448 351,103
Interest expense:        
Savings deposits 15,042 3,323 41,514 5,720
Time deposits 15,610 2,530 34,067 7,311
Securities sold under repurchase agreements 4,143 665 9,580 1,090
Other borrowings 71 1,926 213 5,721
Junior subordinated deferrable interest debentures 1,981 1,426 6,106 3,097
Total interest expense 36,847 9,870 91,480 22,939
Net interest income 167,328 135,217 498,968 328,164
Credit loss expense 10,476 8,525 27,879 13,741
Net interest income after provision for credit losses 156,852 126,692 471,089 314,423
Non-interest income:        
Investment securities transactions, net (3)   (3)  
Other investments income, net 3,598 6,962 3,653 11,063
Other income 5,863 9,989 15,262 27,879
Total non-interest income 45,385 54,602 123,449 141,356
Non-interest expense:        
Employee compensation and benefits 34,773 34,341 100,926 96,505
Occupancy 6,268 7,821 18,598 20,282
Depreciation of bank premises and equipment 5,488 5,425 16,362 16,355
Professional fees 4,123 3,087 11,051 8,347
Deposit insurance assessments 1,744 2,026 7,575 5,062
Net operations, other real estate owned (1,638) (253) (3,278) (708)
Advertising 1,360 1,476 3,913 4,371
Software and software maintenance 5,081 4,089 14,978 12,638
Other 14,001 17,161 36,638 45,195
Total non-interest expense 71,200 75,173 206,763 208,047
Income before income taxes 131,037 106,121 387,775 247,732
Provision for income taxes 27,773 22,765 82,383 52,912
Net income $ 103,264 $ 83,356 $ 305,392 $ 194,820
Basic earnings per common share:        
Weighted average number of shares outstanding (in shares) 62,653,563 62,226,521 62,089,779 62,838,831
Net income per common share (in dollars per share) $ 1.66 $ 1.34 $ 4.92 $ 3.10
Fully diluted earnings per common share:        
Weighted average number of shares outstanding (in shares) 62,195,486 62,371,475 62,227,379 62,980,934
Net income per common share (in dollars per share) $ 1.66 $ 1.34 $ 4.91 $ 3.09
Services charges on deposit accounts        
Non-interest income:        
Service charges $ 19,311 $ 19,038 $ 54,939 $ 54,543
Other service charges, commissions and fees, Banking        
Non-interest income:        
Service charges 14,314 15,995 42,761 41,446
Other service charges, commissions and fees, Non-banking        
Non-interest income:        
Service charges $ 2,302 $ 2,618 $ 6,837 $ 6,425