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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income        
Interest and fees on loans $ 794,163 $ 666,260 $ 2,254,316 $ 1,846,009
Mortgage loans held-for-sale 6,233 4,767 15,813 12,473
Interest-bearing deposits with banks 32,608 26,866 68,997 57,216
Federal funds sold and securities purchased under resale agreements 277 1,157 313 1,228
Investment securities 69,592 59,164 209,049 170,350
Trading account securities 11 6 42 26
Federal Home Loan Bank and Federal Reserve Bank stock 5,451 3,896 14,903 11,120
Brokerage customer receivables 269 284 663 844
Total interest income 908,604 762,400 2,564,096 2,099,266
Interest expense        
Interest on deposits 362,019 262,783 997,254 621,080
Interest on Federal Home Loan Bank advances 26,254 17,436 73,099 53,970
Interest on other borrowings 9,013 9,384 26,961 25,723
Interest on subordinated notes 3,712 5,491 14,384 16,502
Interest on junior subordinated debentures 5,023 4,948 15,011 14,101
Total interest expense 406,021 300,042 1,126,709 731,376
Net interest income 502,583 462,358 1,437,387 1,367,890
Provision for credit losses 22,334 19,923 84,068 71,482
Net interest income after provision for credit losses 480,249 442,435 1,353,319 1,296,408
Non-interest income        
Wealth management 37,224 33,529 107,452 97,332
Mortgage banking 15,974 27,395 72,761 75,640
Service charges on deposit accounts 16,430 14,217 46,787 40,728
Gains (losses) on investment securities, net 3,189 (2,357) 233 (959)
Fees from covered call options 988 4,215 7,891 17,184
Trading (losses) gains, net (130) 728 617 1,647
Operating lease income, net 15,335 13,863 43,383 39,136
Other 24,137 20,888 95,750 62,569
Total non-interest income 113,147 112,478 374,874 333,277
Non-interest expense        
Salaries and employee benefits 211,261 192,338 604,975 554,042
Software and equipment 31,574 25,951 88,536 76,853
Operating lease equipment 10,518 12,020 32,035 31,669
Occupancy, net 19,945 21,304 58,616 58,966
Data processing 9,984 10,773 28,779 29,908
Advertising and marketing 18,239 18,169 48,715 47,909
Professional fees 9,783 8,887 29,303 25,990
Amortization of other acquisition-related intangible assets 4,042 1,408 6,322 4,142
FDIC insurance 10,512 9,748 35,478 27,425
Other real estate owned expense, net (938) 120 (805) 31
Other 35,767 29,337 102,231 92,912
Total non-interest expense 360,687 330,055 1,034,185 949,847
Income before taxes 232,709 224,858 694,008 679,838
Income tax expense 62,708 60,660 184,325 180,692
Net income 170,001 164,198 509,683 499,146
Preferred stock dividends 6,991 6,991 20,973 20,973
Net income applicable to common shares $ 163,010 $ 157,207 $ 488,710 $ 478,173
Net income per common share-Basic (usd per share) $ 2.51 $ 2.57 $ 7.79 $ 7.82
Net income per common share-Diluted (usd per share) 2.47 2.53 7.67 7.71
Cash dividends declared per common share (usd per share) $ 0.45 $ 0.40 $ 1.35 $ 1.20
Weighted average common shares outstanding (in shares) 64,888 61,213 62,743 61,119
Dilutive potential common shares (in shares) 1,053 964 934 888
Average common shares and dilutive common shares (in shares) 65,941 62,177 63,677 62,007