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Consolidated Statements Of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
INTEREST INCOME:        
Interest and fees on loans $ 225,671 $ 145,024 $ 441,606 $ 277,696
Interest on investment securities 15,534 12,308 30,659 23,964
Interest income from cash and deposits at other banks 25,295 74 30,217 211
Interest on other investments 684 418 1,379 825
Total interest income 267,184 157,824 503,861 302,696
INTEREST EXPENSE:        
Interest on deposits 109,724 12,220 202,072 20,896
Interest Expense, FHLB and FRB borrowings 23,622 1,457 30,320 2,144
Interest on other borrowings and debt 3,149 2,609 6,902 4,942
Total interest expense 136,495 16,286 239,294 27,982
NET INTEREST INCOME BEFORE PROVISION (CREDIT) FOR CREDIT LOSSES 130,689 141,538 264,567 274,714
PROVISION (CREDIT) FOR CREDIT LOSSES 8,900 3,200 10,600 (7,800)
NET INTEREST INCOME AFTER PROVISION (CREDIT) FOR CREDIT LOSSES 121,789 138,338 253,967 282,514
NONINTEREST INCOME:        
Service fees on deposit accounts 2,325 2,270 4,546 4,244
International service fees 854 744 1,942 1,538
Wire transfer fees 850 858 1,623 1,758
Swap fees 674 175 716 960
Net gains on sales of SBA loans 1,872 5,804 4,097 11,407
Net gains on sales of residential mortgage loans 82 76 146 833
Other income and fees 10,357 2,819 14,922 5,192
Total noninterest income 17,014 12,746 27,992 25,932
NONINTEREST EXPENSE:        
Salaries and employee benefits 52,305 51,058 109,474 98,803
Occupancy 6,967 7,178 14,488 14,513
Furniture and equipment 5,393 4,778 10,451 9,422
Data processing and communications 2,917 2,893 5,739 5,354
Professional fees 1,416 1,582 2,959 3,793
Amortization of investments in affordable housing partnerships 1,912 1,844 3,628 3,863
FDIC assessments 4,691 1,450 6,472 3,019
Earned interest credit 5,090 835 9,517 1,311
Other 6,642 8,747 14,959 15,660
Total noninterest expense 87,333 80,365 177,687 155,738
INCOME BEFORE INCOME TAXES 51,470 70,719 104,272 152,708
INCOME TAX PROVISION 13,448 18,631 27,129 39,882
NET INCOME $ 38,022 $ 52,088 $ 77,143 $ 112,826
EARNINGS PER COMMON SHARE        
Basic (in dollars per share) $ 0.32 $ 0.43 $ 0.64 $ 0.94
Diluted (in dollars per share) $ 0.32 $ 0.43 $ 0.64 $ 0.93