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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
INTEREST INCOME        
Loans $ 367,485 $ 216,970 $ 1,018,920 $ 536,359
Securities:        
Taxable interest 53,455 50,003 161,091 140,680
Tax-exempt interest 25,704 24,692 76,560 72,085
Total securities income 79,159 74,695 237,651 212,765
Federal funds and resell agreements 4,567 6,056 14,107 12,003
Interest-bearing due from banks 20,551 2,545 70,923 9,209
Trading securities 214 73 502 372
Total interest income 471,976 300,339 1,342,103 770,708
INTEREST EXPENSE        
Deposits 191,919 48,457 490,368 70,069
Federal funds and repurchase agreements 23,076 14,709 71,123 21,855
Other 34,694 3,688 91,018 10,153
Total interest expense 249,689 66,854 652,509 102,077
Net interest income 222,287 233,485 689,594 668,631
Provision for credit losses 4,977 22,000 41,227 28,900
Net interest income after provision for credit losses 217,310 211,485 648,367 639,731
NONINTEREST INCOME        
Trust and securities processing 66,668 59,586 190,616 178,000
Trading and investment banking 3,771 5,387 13,879 17,950
Service charges on deposit accounts 21,080 19,932 63,620 65,409
Insurance fees and commissions 272 375 771 879
Brokerage fees 13,400 13,840 40,680 29,687
Bankcard fees 19,296 19,379 56,047 53,854
Investment securities gains (losses), net 271 (1,345) (4,153) 58,853
Other 8,559 11,569 40,139 24,104
Total noninterest income 133,317 128,723 401,599 428,736
NONINTEREST EXPENSE        
Salaries and employee benefits 133,380 136,467 419,190 388,491
Occupancy, net 12,283 12,231 36,206 36,439
Equipment 17,204 18,811 52,139 55,290
Supplies and services 3,213 3,139 11,283 9,893
Marketing and business development 6,631 6,671 19,090 16,911
Processing fees 26,016 20,901 75,828 58,682
Legal and consulting 7,230 10,255 21,574 28,431
Bankcard 8,852 6,551 24,292 18,998
Amortization of other intangible assets 2,124 1,092 6,539 3,388
Regulatory fees 6,153 4,200 17,827 11,146
Other 8,355 11,078 25,198 32,632
Total noninterest expense 231,441 231,396 709,166 660,301
Income (loss) before taxes 119,186 108,812 340,800 408,166
Income tax expense 22,632 20,822 61,699 76,657
NET INCOME $ 96,554 $ 87,990 $ 279,101 $ 331,509
PER SHARE DATA        
Net income – basic $ 1.99 $ 1.82 $ 5.76 $ 6.86
Net income – diluted 1.98 1.81 5.73 6.8
Dividends $ 0.38 $ 0.37 $ 1.14 $ 1.11
Weighted average shares outstanding – basic 48,525,776 48,300,129 48,492,022 48,351,007
Weighted average shares outstanding – diluted 48,762,696 48,648,804 48,737,065 48,723,572