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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income        
Loans, including fees $ 215,433 $ 192,261 $ 629,033 $ 546,354
Investment securities        
Taxable 32,367 31,297 90,958 95,226
Tax-exempt 2,616 3,522 8,412 10,499
Total interest on investment securities 34,983 34,819 99,370 105,725
Other earning assets 6,703 5,011 22,121 12,488
Total interest income 257,119 232,091 750,524 664,567
Interest expense        
Deposits 86,554 57,069 245,651 132,817
Short-term borrowings 9,932 14,615 32,270 43,101
Long-term borrowings 5,073 4,952 14,992 14,644
Total interest expense 101,559 76,636 292,913 190,562
Net interest income 155,560 155,455 457,611 474,005
Provision for Credit Losses-loans and leases 9,930 12,907 39,506 34,270
Provision for credit losses-unfunded commitments 694 (1,234) (1,279) (1,393)
Net interest income after provision for credit losses 144,936 143,782 419,384 441,128
Noninterest income        
Service Charges on Deposit Accounts 7,547 6,957 21,647 20,443
Wealth management fees 6,910 6,943 20,758 19,990
Bankcard income 3,698 3,406 10,740 10,690
Client derivative fees 1,160 1,612 3,173 4,444
Foreign exchange income 12,048 13,384 39,270 45,321
Operating Lease, Lease Income 16,811 14,537 48,228 38,466
Net gain from sales of loans 5,021 4,086 13,284 10,260
Net gain (loss) on investment securities (17,468) (58) (22,719) (403)
Other 9,974 5,761 19,333 16,218
Total noninterest income 45,701 56,628 153,714 165,429
Noninterest expenses        
Salaries and employee benefits 74,813 75,641 224,075 222,094
Net occupancy 5,919 5,809 17,635 17,100
Furniture and equipment 3,617 3,341 10,951 10,020
Data processing 8,857 8,473 26,039 27,364
Marketing 2,255 2,598 6,822 7,560
Communication 851 744 2,462 2,022
Professional services 2,303 2,524 7,456 6,778
State intangible tax 876 981 2,628 2,930
FDIC assessments 3,036 2,665 8,473 8,297
Intangible assets amortization 2,395 2,600 7,092 7,801
Amortization of operating leases 11,899 8,877 31,781 23,545
Other 8,938 7,791 26,274 23,841
Total noninterest expenses 125,759 122,044 371,688 359,352
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total 64,878 78,366 201,410 247,205
Income tax expense (benefit) 12,427 15,305 37,465 48,074
Net income $ 52,451 $ 63,061 $ 163,945 $ 199,131
Earnings per common share        
Basic $ 0.56 $ 0.67 $ 1.74 $ 2.12
Diluted $ 0.55 $ 0.66 $ 1.72 $ 2.09
Average common shares outstanding - basic 94,473,666 94,030,275 94,377,010 93,896,716
Average common shares outstanding - diluted 95,479,510 95,126,269 95,378,238 95,085,871