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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income        
Loans, including fees $ 211,760 $ 184,387 $ 413,600 $ 354,093
Investment securities        
Taxable 30,295 32,062 58,591 63,929
Tax-exempt 2,704 3,513 5,796 6,977
Total interest on investment securities 32,999 35,575 64,387 70,906
Other earning assets 7,960 3,933 15,418 7,477
Total interest income 252,719 223,895 493,405 432,476
Interest expense        
Deposits 83,022 44,292 159,097 75,748
Short-term borrowings 11,395 15,536 22,338 28,486
Long-term borrowings 4,991 4,835 9,919 9,692
Total interest expense 99,408 64,663 191,354 113,926
Net interest income 153,311 159,232 302,051 318,550
Provision for Credit Losses-loans and leases 16,157 12,719 29,576 21,363
Provision for credit losses-unfunded commitments 286 (1,994) (1,973) (159)
Net interest income after provision for credit losses 136,868 148,507 274,448 297,346
Noninterest income        
Service Charges on Deposit Accounts 7,188 6,972 14,100 13,486
Wealth management fees 7,172 6,713 13,848 13,047
Bankcard income 3,900 3,692 7,042 7,284
Client derivative fees 763 1,827 2,013 2,832
Foreign exchange income 16,787 15,039 27,222 31,937
Operating Lease, Lease Income 16,828 10,265 31,417 23,929
Net gain from sales of loans 4,479 3,839 8,263 6,174
Net gain (loss) on sales of investment securities 0 (384) (5,277) (403)
Net gain (loss) on equity securities (64) (82) 26 58
Other 4,448 5,377 9,359 10,457
Total noninterest income 61,501 53,258 108,013 108,801
Noninterest expenses        
Salaries and employee benefits 75,225 74,199 149,262 146,453
Net occupancy 5,793 5,606 11,716 11,291
Furniture and equipment 3,646 3,362 7,334 6,679
Data processing 8,877 9,871 17,182 18,891
Marketing 2,605 2,802 4,567 4,962
Communication 816 644 1,611 1,278
Professional services 2,885 2,308 5,153 4,254
State intangible tax 875 964 1,752 1,949
FDIC assessments 2,657 2,806 5,437 5,632
Intangible assets amortization 2,396 2,601 4,697 5,201
Amortization of operating leases 10,128 6,730 19,882 14,668
Other 7,671 8,722 17,336 16,050
Total noninterest expenses 123,574 120,615 245,929 237,308
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total 74,795 81,150 136,532 168,839
Income tax expense (benefit) 13,990 15,483 25,038 32,769
Net income $ 60,805 $ 65,667 $ 111,494 $ 136,070
Earnings per common share        
Basic $ 0.64 $ 0.70 $ 1.18 $ 1.45
Diluted $ 0.64 $ 0.69 $ 1.17 $ 1.43
Average common shares outstanding - basic 94,438,235 93,924,068 94,328,151 93,828,829
Average common shares outstanding - diluted 95,470,093 95,169,348 95,327,045 95,065,334