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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 $ 301,659 $ 205,468 $ 847,000 $ 519,375
Investment securities 25,339 25,927 76,221 72,424
Other interest income 3,373 2,296 11,882 5,192
Total Interest Income 330,371 233,691 935,103 596,991
Interest Expense        
Deposits 84,156 10,049 195,576 21,451
Federal funds purchased 8,950 550 24,097 540
Federal Home Loan Bank advances 10,324 1,404 37,623 1,404
Senior debt and subordinated debt 5,344 5,494 16,033 16,921
Other borrowings and interest-bearing liabilities 7,755 612 19,493 952
Total Interest Expense 116,529 18,109 292,822 41,268
Net Interest Income 213,842 215,582 642,281 555,723
Provision for credit losses 9,937 18,958 44,228 13,508
Interest Income (Expense), after Provision for Loan Loss, Total 203,905 196,624 598,053 542,215
Non-Interest Income        
Non-interest income before investment securities gains 55,961 59,215 168,281 172,835
Net Securities Gain Loss 0 (53) 19 (26)
Total Non-Interest Income 55,961 59,162 168,300 172,809
Non-Interest Expense        
Salaries and employee benefits 96,757 94,283 280,142 264,151
Data processing and software 16,914 15,807 49,486 44,807
Net occupancy 14,561 14,025 43,373 42,134
Other outside services 12,094 9,361 33,054 26,292
Equipment 3,475 3,548 10,395 10,393
FDIC insurance 4,738 3,158 14,427 9,328
Professional fees 1,869 2,373 6,090 6,178
Marketing 1,913 1,859 5,454 4,505
Intangible amortization 601 690 2,347 1,043
Merger-related expenses 0 7,006 0 8,434
Other 18,098 17,448 53,888 48,001
Total Non-Interest Expense 171,020 169,558 498,656 465,266
Income Before Income Taxes 88,846 86,228 267,697 249,758
Income taxes 16,749 15,357 47,680 44,610
Net Income 72,097 70,871 220,017 205,148
Preferred stock dividends (2,562) (2,562) (7,686) (7,686)
Net Income Available to Common Shareholders $ 69,535 $ 68,309 $ 212,331 $ 197,462
PER SHARE:        
Net Income (Basic) (in dollars per share) $ 0.42 $ 0.41 $ 1.28 $ 1.21
Net Income (Diluted) (in dollars per share) 0.42 0.40 1.27 1.20
Cash Dividends (in dollars per share) $ 0.16 $ 0.15 $ 0.47 $ 0.45
Commercial banking        
Non-Interest Income        
Non-interest income before investment securities gains $ 19,722 $ 20,808 $ 60,380 $ 57,175
Consumer banking        
Non-Interest Income        
Non-interest income before investment securities gains 12,173 13,275 35,110 37,421
Wealth management        
Non-Interest Income        
Non-interest income before investment securities gains 19,413 17,610 56,152 55,312
Mortgage banking        
Non-Interest Income        
Non-interest income before investment securities gains 3,190 3,720 8,100 12,064
Other        
Non-Interest Income        
Non-interest income before investment securities gains $ 1,463 $ 3,802 $ 8,539 $ 10,863