XML 13 R4.htm IDEA: XBRL DOCUMENT v3.22.2
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income        
Interest and fees on loans $ 320,501 $ 284,701 $ 606,199 $ 558,801
Mortgage loans held-for-sale 5,740 8,183 11,827 17,219
Interest-bearing deposits with banks 5,790 1,153 7,477 2,352
Federal funds sold and securities purchased under resale agreements 1,364 0 1,795 0
Investment securities 36,541 23,623 68,939 42,887
Trading account securities 4 1 9 3
Federal Home Loan Bank and Federal Reserve Bank stock 1,823 1,769 3,595 3,514
Brokerage customer receivables 205 149 379 272
Total interest income 371,968 319,579 700,220 625,048
Interest expense        
Interest on deposits 18,985 24,298 33,839 52,242
Interest on Federal Home Loan Bank advances 4,878 4,887 9,694 9,727
Interest on other borrowings 2,734 2,568 4,973 5,177
Interest on subordinated notes 5,517 5,512 10,999 10,989
Interest on junior subordinated debentures 2,050 2,724 3,617 5,428
Total interest expense 34,164 39,989 63,122 83,563
Net interest income 337,804 279,590 637,098 541,485
Provision for credit losses 20,417 (15,299) 24,523 (60,646)
Net interest income after provision for credit losses 317,387 294,889 612,575 602,131
Non-interest income        
Revenue from contracts with customers 55,244 50,733 109,796 98,501
Mortgage banking 33,314 50,584 110,545 164,078
(Losses) gains on investment securities, net (7,797) 1,285 (10,579) 2,439
Fees from covered call options 1,069 1,388 4,811 1,388
Trading gains (losses), net 176 (438) 4,065 (19)
Operating lease income, net 15,007 12,240 30,482 26,680
Other 13,916 20,375 32,474 36,029
Total non-interest income 102,942 129,373 265,732 315,879
Non-interest expense        
Salaries and employee benefits 167,326 172,817 339,681 353,626
Software and equipment 24,250 20,866 47,060 41,778
Operating lease equipment depreciation 8,774 9,949 18,482 20,720
Occupancy, net 17,651 17,687 35,475 37,683
Data processing 8,010 6,920 15,515 12,968
Advertising and marketing 16,615 11,305 28,539 19,851
Professional fees 7,876 7,304 16,277 14,891
Amortization of other acquisition-related intangible assets 1,579 2,039 3,188 4,046
FDIC insurance 6,949 6,405 14,678 12,963
Other real estate owned expense, net 294 769 (738) 518
Other 29,344 24,051 54,809 47,957
Total non-interest expense 288,668 280,112 572,966 567,001
Income before taxes 131,661 144,150 305,341 351,009
Income tax expense 37,148 39,041 83,437 92,752
Net income 94,513 105,109 221,904 258,257
Preferred stock dividends 6,991 6,991 13,982 13,982
Net income applicable to common shares $ 87,522 $ 98,118 $ 207,922 $ 244,275
Net income per common share-Basic (usd per share) $ 1.51 $ 1.72 $ 3.61 $ 4.29
Net income per common share-Diluted (usd per share) 1.49 1.70 3.56 4.24
Cash dividends declared per common share (usd per share) $ 0.34 $ 0.31 $ 0.68 $ 0.62
Weighted average common shares outstanding (in shares) 58,063 57,049 57,632 56,977
Dilutive potential common shares (in shares) 775 726 823 691
Average common shares and dilutive common shares (in shares) 58,838 57,775 58,455 57,668
Wealth management        
Non-interest income        
Revenue from contracts with customers $ 31,369 $ 30,690 $ 62,763 $ 59,999
Service charges on deposit accounts        
Non-interest income        
Revenue from contracts with customers $ 15,888 $ 13,249 $ 31,171 $ 25,285