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Business Segment Reporting (Tables)
9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Schedule of Segment Financial Results

Business Segment financial results for the three and nine months ended September 30, 2023 and September 30, 2022 were as follows (in thousands):

 

 

 

Three Months Ended September 30, 2023

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

148,666

 

 

$

43,133

 

 

$

30,488

 

 

$

222,287

 

Provision for credit losses

 

 

3,010

 

 

 

423

 

 

 

1,544

 

 

 

4,977

 

Noninterest income

 

 

23,091

 

 

 

86,521

 

 

 

23,705

 

 

 

133,317

 

Noninterest expense

 

 

81,767

 

 

 

87,502

 

 

 

62,172

 

 

 

231,441

 

Income (loss) before taxes

 

 

86,980

 

 

 

41,729

 

 

 

(9,523

)

 

 

119,186

 

Income tax expense (benefit)

 

 

16,311

 

 

 

7,866

 

 

 

(1,545

)

 

 

22,632

 

Net income (loss)

 

$

70,669

 

 

$

33,863

 

 

$

(7,978

)

 

$

96,554

 

Average assets

 

$

20,838,000

 

 

$

12,232,000

 

 

$

6,454,000

 

 

$

39,524,000

 

 

 

 

Three Months Ended September 30, 2022

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

150,080

 

 

$

43,382

 

 

$

40,023

 

 

$

233,485

 

Provision for credit losses

 

 

20,156

 

 

 

162

 

 

 

1,682

 

 

 

22,000

 

Noninterest income

 

 

16,785

 

 

 

89,386

 

 

 

22,552

 

 

 

128,723

 

Noninterest expense

 

 

87,120

 

 

 

82,073

 

 

 

62,203

 

 

 

231,396

 

Income (loss) before taxes

 

 

59,589

 

 

 

50,533

 

 

 

(1,310

)

 

 

108,812

 

Income tax expense

 

 

12,859

 

 

 

7,735

 

 

 

228

 

 

 

20,822

 

Net income (loss)

 

$

46,730

 

 

$

42,798

 

 

$

(1,538

)

 

$

87,990

 

Average assets

 

$

17,658,000

 

 

$

11,999,000

 

 

$

6,653,000

 

 

$

36,310,000

 

 

 

 

 

Nine Months Ended September 30, 2023

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

444,083

 

 

$

148,615

 

 

$

96,896

 

 

$

689,594

 

Provision for credit losses

 

 

35,110

 

 

 

754

 

 

 

5,363

 

 

 

41,227

 

Noninterest income

 

 

71,658

 

 

 

257,573

 

 

 

72,368

 

 

 

401,599

 

Noninterest expense

 

 

251,667

 

 

 

268,464

 

 

 

189,035

 

 

 

709,166

 

Income (loss) before taxes

 

 

228,964

 

 

 

136,970

 

 

 

(25,134

)

 

 

340,800

 

Income tax expense (benefit)

 

 

41,114

 

 

 

24,558

 

 

 

(3,973

)

 

 

61,699

 

Net income (loss)

 

$

187,850

 

 

$

112,412

 

 

$

(21,161

)

 

$

279,101

 

Average assets

 

$

20,425,000

 

 

$

12,476,000

 

 

$

6,571,000

 

 

$

39,472,000

 

 

 

 

Nine Months Ended September 30, 2022

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

444,176

 

 

$

104,615

 

 

$

119,840

 

 

$

668,631

 

Provision for credit losses

 

 

25,183

 

 

 

402

 

 

 

3,315

 

 

 

28,900

 

Noninterest income

 

 

100,379

 

 

 

243,740

 

 

 

84,617

 

 

 

428,736

 

Noninterest expense

 

 

246,230

 

 

 

234,185

 

 

 

179,886

 

 

 

660,301

 

Income before taxes

 

 

273,142

 

 

 

113,768

 

 

 

21,256

 

 

 

408,166

 

Income tax expense

 

 

52,001

 

 

 

22,353

 

 

 

2,303

 

 

 

76,657

 

Net income

 

$

221,141

 

 

$

91,415

 

 

$

18,953

 

 

$

331,509

 

Average assets

 

$

17,122,000

 

 

$

13,396,000

 

 

$

7,148,000

 

 

$

37,666,000