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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest and Dividend Income    
Loans receivable $ 293,984 $ 302,528
Investment securities 12,103 14,951
Federal Home Loan Bank stock 379 431
Deposits with banks 12,929 14,732
Total interest and dividend income 319,395 332,642
Interest Expense    
Time deposits 96,066 109,546
Other deposits 42,434 42,788
Advances from Federal Home Loan Bank 1,904 9,316
Long-term debt 2,020 1,721
Short-term debt 332 699
Total interest expense 142,756 164,070
Net interest income before provision for credit losses 176,639 168,572
Provision for credit losses 15,500 1,900
Net interest income after provision for credit losses 161,139 166,672
Non-Interest Income    
Net losses from equity securities (4,191) (9,027)
Net gains from securities available for sale 0 1,107
Letters of credit commissions 2,091 1,717
Other operating income 5,383 5,626
Total non-interest income 11,204 6,611
Non-Interest Expense    
Salaries and employee benefits 42,427 43,552
Occupancy expense 5,737 5,967
Computer and equipment expense 6,054 5,068
Professional services expense 7,448 6,992
Data processing service expense 4,406 3,929
FDIC and regulatory assessments 3,399 6,089
Marketing expense 1,878 1,914
Other real estate owned expense 244 253
Amortization of investments in low-income housing and alternative energy partnerships 9,054 14,432
Amortization of Intangible Assets 250 339
Other operating expense 4,759 4,704
Total non-interest expense 85,656 93,239
Income before income tax expense 86,687 80,044
Income tax expense 17,181 8,609
Net income 69,506 71,435
Other Comprehensive Income/(Loss), net of tax    
Net holding gains/(losses) on securities available-for-sale 13,860 (6,422)
Net holding losses on cash flow hedge derivatives 0 (441)
Total other comprehensive income/(loss), net of tax 13,860 (6,863)
Total comprehensive income $ 83,366 $ 64,572
Net Income Per Common Share:    
Basic (in dollars per share) $ 0.99 $ 0.98
Diluted (in dollars per share) 0.98 0.98
Cash dividends paid per common share (in dollars per share) $ 0.34 $ 0.34
Average Common Shares Outstanding:    
Basic (in shares) 70,379,835 72,673,974
Diluted (in shares) 70,679,640 72,971,157
Deposit Account [Member]    
Non-Interest Income    
Non-Interest Income $ 1,752 $ 1,550
Asset Management [Member]    
Non-Interest Income    
Non-Interest Income $ 6,169 $ 5,638