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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income        
Interest and fees on loans $ 285,587 $ 280,479 $ 844,388 $ 877,064
Mortgage loans held-for-sale 7,716 5,791 24,935 13,720
Interest-bearing deposits with banks 2,000 1,181 4,352 7,259
Federal funds sold and securities purchased under resale agreements 0 0 0 102
Investment securities 25,189 21,819 68,076 81,391
Trading account securities 3 6 6 26
Federal Home Loan Bank and Federal Reserve Bank stock 1,777 1,774 5,291 5,116
Brokerage customer receivables 185 106 457 361
Total interest income 322,457 311,156 947,505 985,039
Interest expense        
Interest on deposits 19,305 39,084 71,547 156,576
Interest on Federal Home Loan Bank advances 4,931 4,947 14,658 13,241
Interest on other borrowings 2,501 3,012 7,678 9,994
Interest on subordinated notes 5,480 5,474 16,469 16,452
Interest on junior subordinated debentures 2,744 2,703 8,172 8,266
Total interest expense 34,961 55,220 118,524 204,529
Net interest income 287,496 255,936 828,981 780,510
Provision for credit losses (7,916) 25,026 (68,562) 213,040
Net interest income after provision for credit losses 295,412 230,910 897,543 567,470
Non-interest income        
Revenue from contracts with customers 53,219 42,797 151,720 124,908
Mortgage banking 55,794 108,544 219,872 259,194
(Losses) gains on investment securities, net (2,431) 411 8 (3,140)
Fees from covered call options 1,157 0 2,545 2,292
Trading gains (losses), net 58 183 39 (902)
Operating lease income, net 12,807 11,717 39,487 35,486
Other 23,409 13,284 59,438 46,182
Total non-interest income 136,474 170,593 452,353 445,828
Non-interest expense        
Salaries and employee benefits 170,912 164,042 524,538 454,960
Software and equipment 22,029 17,251 63,807 47,931
Operating lease equipment depreciation 10,013 9,425 30,733 27,977
Occupancy, net 18,158 15,830 55,841 50,270
Data processing 7,104 5,689 20,072 24,468
Advertising and marketing 13,443 7,880 33,294 26,446
Professional fees 7,052 6,488 21,943 20,896
Amortization of other intangible assets 1,877 2,701 5,923 8,384
FDIC insurance 6,750 6,772 19,713 17,988
OREO expense, net (1,531) (168) (1,013) (807)
Other 26,337 28,309 74,294 79,715
Total non-interest expense 282,144 264,219 849,145 758,228
Income before taxes 149,742 137,284 500,751 255,070
Income tax expense 40,605 29,969 133,357 63,284
Net income 109,137 107,315 367,394 191,786
Preferred stock dividends 6,991 10,286 20,973 14,386
Net income applicable to common shares $ 102,146 $ 97,029 $ 346,421 $ 177,400
Net income per common share-Basic (usd per share) $ 1.79 $ 1.68 $ 6.08 $ 3.08
Net income per common share-Diluted (usd per share) 1.77 1.67 6.00 3.06
Cash dividends declared per common share (usd per share) $ 0.31 $ 0.28 $ 0.93 $ 0.84
Weighted average common shares outstanding (in shares) 57,000 57,597 56,985 57,595
Dilutive potential common shares (in shares) 753 449 728 469
Average common shares and dilutive common shares (in shares) 57,753 58,046 57,713 58,064
Wealth management        
Non-interest income        
Revenue from contracts with customers $ 31,531 $ 24,957 $ 91,530 $ 73,534
Service charges on deposit accounts        
Non-interest income        
Revenue from contracts with customers $ 14,149 $ 11,497 $ 39,434 $ 33,182