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v3.25.1

Segment financial information (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Segment Financial Information |
(in thousands) |  | Electric utility |  | All other |  | Total
Three months ended March 31, 2025 |  |  |  |  |  |
Revenues |  | $ | 738,366 |  |  | $ | 5,704 |  |  | $ | 744,070 |
Income (loss) from continuing operations before income taxes |  | 61,519 |  |  | (27,980) |  |  | 33,539 |
Income taxes (benefit) |  | 13,204 |  |  | (6,809) |  |  | 6,395 |
Net income (loss) from continuing operations |  | 48,315 |  |  | (21,171) |  |  | 27,144 |
Preferred stock dividends of subsidiaries |  | 499 |  |  | (26) |  |  | 473 |
Net income (loss) from continuing operations for common stock |  | 47,816 |  |  | (21,145) |  |  | 26,671 |
Total assets (at March 31, 2025) |  | $ | 7,864,144 |  |  | $ | 902,037 |  |  | $ | 8,766,181 |
Three months ended March 31, 2024 |  |  |  |  |  |
Revenues |  | $ | 788,578 |  |  | $ | 3,436 |  |  | $ | 792,014 |
Income (loss) from continuing operations before income taxes |  | 50,900 |  |  | (22,444) |  |  | 28,456 |
Income taxes (benefit) |  | 11,180 |  |  | (4,385) |  |  | 6,795 |
Net income (loss) from continuing operations |  | 39,720 |  |  | (18,059) |  |  | 21,661 |
Preferred stock dividends of subsidiaries |  | 499 |  |  | (26) |  |  | 473 |
Net income (loss) from continuing operations for common stock |  | 39,221 |  |  | (18,033) |  |  | 21,188 |
Total assets (at December 31, 2024) |  | $ | 7,613,604 |  |  | $ | 1,317,812 |  |  | $ | 8,931,416 |
Summary of Discontinued Operations | The following table summarizes the income from discontinued operations included in the Company’s Condensed Consolidated Statements of Income for the three months ended March 31, 2024:
(in thousands) |  |  |  |  |  | Three months ended March 31, 2024
Interest and dividend income |  |  |  |  |  |
Interest and fees on loans |  |  |  |  |  | $ | 72,971 |
Interest and dividends on investment securities |  |  |  |  |  | 14,964 |
Total interest and dividend income |  |  |  |  |  | 87,935 |
Interest expense |  |  |  |  |  |
Interest on deposit liabilities |  |  |  |  |  | 17,432 |
Interest on other borrowings |  |  |  |  |  | 8,154 |
Total interest expense |  |  |  |  |  | 25,586 |
Net interest income |  |  |  |  |  | 62,349 |
Provision for credit losses |  |  |  |  |  | (2,159) |
Net interest income after provision for credit losses |  |  |  |  |  | 64,508 |
Noninterest income |  |  |  |  |  |
Fees from other financial services |  |  |  |  |  | 4,874 |
Fee income on deposit liabilities |  |  |  |  |  | 4,898 |
Fee income on other financial products |  |  |  |  |  | 2,743 |
Bank-owned life insurance |  |  |  |  |  | 3,584 |
Mortgage banking income |  |  |  |  |  | 424 |
Other income, net |  |  |  |  |  | 686 |
Total noninterest income |  |  |  |  |  | 17,209 |
Noninterest expense |  |  |  |  |  |
Compensation and employee benefits |  |  |  |  |  | 32,459 |
Occupancy |  |  |  |  |  | 5,063 |
Data processing |  |  |  |  |  | 4,846 |
Services |  |  |  |  |  | 4,151 |
Equipment |  |  |  |  |  | 2,649 |
Office supplies, printing and postage |  |  |  |  |  | 1,018 |
Marketing |  |  |  |  |  | 776 |
Other expense |  |  |  |  |  | 4,942 |
Total noninterest expense |  |  |  |  |  | 55,904 |
Income before income taxes from discontinued operations |  |  |  |  |  | 25,813 |
Income taxes |  |  |  |  |  | 4,879 |
Income from discontinued operations |  |  |  |  |  | $ | 20,934 |

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