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Business Segment Reporting (Tables)
6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Schedule of Segment Financial Results

Business Segment financial results for the three and six months ended June 30, 2024 and June 30, 2023 were as follows (in thousands):

 

 

 

Three Months Ended June 30, 2024

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

160,487

 

 

$

51,502

 

 

$

33,119

 

 

$

245,108

 

Provision for credit losses

 

 

11,480

 

 

 

846

 

 

 

1,724

 

 

 

14,050

 

Noninterest income

 

 

27,720

 

 

 

95,092

 

 

 

22,107

 

 

 

144,919

 

Noninterest expense

 

 

85,780

 

 

 

95,531

 

 

 

67,756

 

 

 

249,067

 

Income (loss) before taxes

 

 

90,947

 

 

 

50,217

 

 

 

(14,254

)

 

 

126,910

 

Income tax expense (benefit)

 

 

17,858

 

 

 

9,297

 

 

 

(1,590

)

 

 

25,565

 

Net income (loss)

 

$

73,089

 

 

$

40,920

 

 

$

(12,664

)

 

$

101,345

 

Average assets

 

$

21,153,000

 

 

$

14,367,000

 

 

$

6,956,000

 

 

$

42,476,000

 

 

 

 

Three Months Ended June 30, 2023

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

144,389

 

 

$

50,397

 

 

$

30,825

 

 

$

225,611

 

Provision for credit losses

 

 

11,055

 

 

 

234

 

 

 

1,711

 

 

 

13,000

 

Noninterest income

 

 

25,666

 

 

 

86,813

 

 

 

25,603

 

 

 

138,082

 

Noninterest expense

 

 

85,896

 

 

 

91,591

 

 

 

63,186

 

 

 

240,673

 

Income (loss) before taxes

 

 

73,104

 

 

 

45,385

 

 

 

(8,469

)

 

 

110,020

 

Income tax expense (benefit)

 

 

12,996

 

 

 

8,011

 

 

 

(1,097

)

 

 

19,910

 

Net income (loss)

 

$

60,108

 

 

$

37,374

 

 

$

(7,372

)

 

$

90,110

 

Average assets

 

$

20,888,000

 

 

$

12,756,000

 

 

$

6,721,000

 

 

$

40,365,000

 

 

 

 

Six Months Ended June 30, 2024

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

317,734

 

 

$

101,362

 

 

$

65,446

 

 

$

484,542

 

Provision for credit losses

 

 

19,000

 

 

 

1,325

 

 

 

3,725

 

 

 

24,050

 

Noninterest income

 

 

70,686

 

 

 

187,808

 

 

 

45,669

 

 

 

304,163

 

Noninterest expense

 

 

178,199

 

 

 

195,907

 

 

 

129,765

 

 

 

503,871

 

Income (loss) before taxes

 

 

191,221

 

 

 

91,938

 

 

 

(22,375

)

 

 

260,784

 

Income tax expense (benefit)

 

 

35,153

 

 

 

16,828

 

 

 

(2,800

)

 

 

49,181

 

Net income (loss)

 

$

156,068

 

 

$

75,110

 

 

$

(19,575

)

 

$

211,603

 

Average assets

 

$

21,314,000

 

 

$

13,984,000

 

 

$

6,948,000

 

 

$

42,246,000

 

 

 

 

 

Six Months Ended June 30, 2023

 

 

 

Commercial Banking

 

 

Institutional Banking

 

 

Personal Banking

 

 

Total

 

Net interest income

 

$

295,416

 

 

$

105,482

 

 

$

66,409

 

 

$

467,307

 

Provision for credit losses

 

 

32,099

 

 

 

331

 

 

 

3,820

 

 

 

36,250

 

Noninterest income

 

 

48,568

 

 

 

171,051

 

 

 

48,663

 

 

 

268,282

 

Noninterest expense

 

 

169,900

 

 

 

180,962

 

 

 

126,863

 

 

 

477,725

 

Income (loss) before taxes

 

 

141,985

 

 

 

95,240

 

 

 

(15,611

)

 

 

221,614

 

Income tax expense (benefit)

 

 

24,638

 

 

 

16,523

 

 

 

(2,094

)

 

 

39,067

 

Net income (loss)

 

$

117,347

 

 

$

78,717

 

 

$

(13,517

)

 

$

182,547

 

Average assets

 

$

20,209,000

 

 

$

12,603,000

 

 

$

6,631,000

 

 

$

39,443,000