XML 19 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest income      
Interest and fees on loans $ 2,540,952 $ 1,507,726 $ 1,133,528
Mortgage loans held-for-sale 16,791 21,195 32,169
Interest-bearing deposits with banks 78,978 43,447 6,606
Federal funds sold and securities purchased under resale agreements 1,806 4,903 173
Investment securities 238,587 160,600 95,286
Trading account securities 41 22 10
Federal Home Loan Bank and Federal Reserve Bank stock 14,912 8,622 7,067
Brokerage customer receivables 1,047 928 645
Total interest income 2,893,114 1,747,443 1,275,484
Interest expense      
Interest on deposits 906,470 175,202 88,119
Interest on Federal Home Loan Bank advances 72,286 30,329 19,581
Interest on other borrowings 35,280 14,294 9,928
Interest on subordinated notes 22,024 22,004 21,983
Interest on junior subordinated debentures 19,190 10,252 10,916
Total interest expense 1,055,250 252,081 150,527
Net interest income 1,837,864 1,495,362 1,124,957
Provision for credit losses 114,390 78,589 (59,263)
Net interest income after provision for credit losses 1,723,474 1,416,773 1,184,220
Non-interest income      
Wealth management 130,607 126,614 124,019
Mortgage banking 83,073 155,173 273,010
Service charges on deposit accounts 55,250 58,574 54,168
Gains (losses) on investment securities, net 1,525 (20,427) (1,059)
Fees from covered call options 21,863 14,133 3,673
Trading gains, net 1,142 3,752 245
Operating lease income, net 53,298 55,510 53,691
Other 87,348 67,724 78,373
Total non-interest income 434,106 461,053 586,120
Non-interest expense      
Salaries and employee benefits 748,013 696,107 691,669
Software and equipment 104,632 95,885 87,515
Operating lease equipment 42,363 38,008 40,880
Occupancy, net 77,068 70,965 74,184
Data processing 38,800 31,209 27,279
Advertising and marketing 65,075 59,418 47,275
Professional fees 34,758 33,088 29,494
Amortization of other acquisition-related intangible assets 5,498 6,116 7,734
FDIC insurance 71,102 28,639 27,030
OREO expense, net (1,528) (140) (1,654)
Other 126,718 117,976 101,138
Total non-interest expense 1,312,499 1,177,271 1,132,544
Income before taxes 845,081 700,555 637,796
Income tax expense 222,455 190,873 171,645
Net income 622,626 509,682 466,151
Preferred stock dividends 27,964 27,964 27,964
Net income applicable to common shares $ 594,662 $ 481,718 $ 438,187
Net income per common share-Basic (usd per share) $ 9.72 $ 8.14 $ 7.69
Net income per common share-Diluted (usd per share) 9.58 8.02 7.58
Cash dividends declared per common share (usd per share) $ 1.60 $ 1.36 $ 1.24
Weighted average common shares outstanding (in shares) 61,149 59,205 56,994
Dilutive potential common shares (in shares) 938 886 792
Average common shares and dilutive common shares (in shares) 62,087 60,091 57,786