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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest income:      
Loans $ 460,162 $ 433,788 $ 457,435
Mortgage-backed securities 31,298 11,614 7,558
Investment securities and other 24,113 3,797 8,354
Total interest income 515,573 449,199 473,347
Interest expense:      
Deposits 32,239 39,014 60,198
Securities sold under agreements to repurchase 0 0 1,335
Advances from FHLB and other borrowings 733 1,641 1,988
Subordinated capital notes 521 1,174 1,394
Total interest expense 33,493 41,829 64,915
Net interest income 482,080 407,370 408,432
Provision for credit losses 24,119 221 92,672
Net interest income after provision for credit losses 457,961 407,149 315,760
Non-interest income:      
Banking service revenue 71,161 71,706 62,579
Wealth management revenue 32,635 35,044 31,789
Mortgage banking activities 21,929 22,508 16,504
Total banking and financial service revenues 125,725 129,258 110,872
Net (loss) gain on:      
Sale of securities (247) 19 4,728
Early extinguishment of debt 42 (1,481) (63)
Bargain purchase from Scotiabank Acquisition 0 0 7,336
Other non-interest income 6,170 5,414 1,479
Non-interest income 131,690 133,210 124,352
Non-interest expense:      
Compensation and employee benefits 142,930 133,442 132,926
Occupancy, equipment and infrastructure costs 51,308 50,158 47,283
Electronic banking charges 39,554 37,202 34,698
Information technology expenses 21,891 18,965 20,823
Professional and service fees 24,842 20,080 17,135
Taxes, other than payroll and income taxes 12,999 13,829 13,831
Insurance 9,898 10,092 11,424
Loan servicing and clearing expenses 9,161 7,604 6,752
Advertising, business promotion, and strategic initiatives 8,240 6,999 5,851
Communication 4,296 4,555 4,067
Printing, postage, stationery and supplies 3,563 4,037 3,847
Director and investor relations 1,125 1,135 1,174
Merger and restructuring charges 0 0 16,083
Climate events expenses 1,574 0 0
Foreclosed real estate and other repossessed assets (income) expenses, net (2,074) (3,007) 7,767
Other 16,239 20,665 21,625
Total non-interest expense 345,546 325,756 345,286
Income before income taxes 244,105 214,603 94,826
Income tax expense 77,866 68,452 20,499
Net income 166,239 146,151 74,327
Less: dividends on preferred stock 0 (1,255) (6,512)
Income available to common shareholders $ 166,239 $ 144,896 $ 67,815
Earnings per common share:      
Basic (in dollars per share) $ 3.46 $ 2.85 $ 1.32
Diluted (in dollars per share) $ 3.44 $ 2.81 $ 1.32
Average common shares outstanding and equivalents (in shares) 48,436 51,370 51,555
Cash dividends per share of common stock (in dollars per share) $ 0.70 $ 0.40 $ 0.28