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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
INTEREST INCOME        
Loans $ 342,994 $ 169,919 $ 651,435 $ 319,389
Securities:        
Taxable interest 54,587 47,295 107,636 90,677
Tax-exempt interest 25,550 23,538 50,856 47,393
Total securities income 80,137 70,833 158,492 138,070
Federal funds and resell agreements 3,889 3,497 9,540 5,947
Interest-bearing due from banks 34,206 4,207 50,372 6,664
Trading securities 154 114 288 299
Total interest income 461,380 248,570 870,127 470,369
INTEREST EXPENSE        
Deposits 170,550 15,439 298,449 21,612
Federal funds and repurchase agreements 24,745 4,998 48,047 7,146
Other 40,474 3,342 56,324 6,465
Total interest expense 235,769 23,779 402,820 35,223
Net interest income 225,611 224,791 467,307 435,146
Provision for credit losses 13,000 13,400 36,250 6,900
Net interest income after provision for credit losses 212,611 211,391 431,057 428,246
NONINTEREST INCOME        
Trust and securities processing 61,589 58,886 123,948 118,414
Trading and investment banking 4,800 7,123 10,108 12,563
Service charges on deposit accounts 21,381 20,835 42,540 45,477
Insurance fees and commissions 225 245 499 504
Brokerage fees 13,604 12,391 27,280 15,847
Bankcard fees 18,579 17,840 36,751 34,475
Investment securities gains (losses), net 900 60,720 (4,424) 60,198
Other 17,004 (1,705) 31,580 12,535
Total noninterest income 138,082 176,335 268,282 300,013
NONINTEREST EXPENSE        
Salaries and employee benefits 143,312 121,390 285,810 252,024
Occupancy, net 11,746 11,976 23,923 24,208
Equipment 17,086 18,315 34,935 36,479
Supplies and services 4,195 3,492 8,070 6,754
Marketing and business development 7,124 5,308 12,459 10,240
Processing fees 26,572 19,338 49,812 37,781
Legal and consulting 7,059 11,265 14,344 18,176
Bankcard 8,307 5,880 15,440 12,447
Amortization of other intangible assets 2,117 1,225 4,415 2,296
Regulatory fees 6,123 3,464 11,674 6,946
Other 7,032 12,474 16,843 21,554
Total noninterest expense 240,673 214,127 477,725 428,905
Income (loss) before taxes 110,020 173,599 221,614 299,354
Income tax expense 19,910 36,043 39,067 55,835
NET INCOME $ 90,110 $ 137,556 $ 182,547 $ 243,519
PER SHARE DATA        
Net income – basic $ 1.86 $ 2.85 $ 3.77 $ 5.03
Net income – diluted 1.85 2.83 3.75 4.99
Dividends $ 0.38 $ 0.37 $ 0.76 $ 0.74
Weighted average shares outstanding – basic 48,514,277 48,347,226 48,474,865 48,376,868
Weighted average shares outstanding – diluted 48,668,413 48,673,964 48,707,487 48,755,059