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CONSOLIDATED STATEMENT OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
INTEREST AND DIVIDEND INCOME      
Loans receivable, including fees $ 3,172,746 $ 2,048,301 $ 1,424,900
Debt Securities 276,190 198,906 143,983
Resale agreements 20,164 29,767 32,239
Restricted equity securities 4,062 3,144 2,081
Interest-bearing cash and deposits with banks 220,643 41,113 15,531
Total interest and dividend income 3,693,805 2,321,231 1,618,734
INTEREST EXPENSE      
Deposits 1,205,550 251,838 69,159
Federal funds purchased and other short-term borrowings 157,002 1,801 42
Federal Home Loan Bank (“FHLB”) advances 6,430 1,754 6,881
Repurchase agreements 1,497 14,362 7,999
Long-term debt and finance lease liabilities 11,072 5,595 3,082
Total interest expense 1,381,551 275,350 87,163
Net interest income before provision for (reversal of) credit losses 2,312,254 2,045,881 1,531,571
Provision for (reversal of) credit losses 125,000 73,500 (35,000)
Net interest income after provision for (reversal of) credit losses 2,187,254 1,972,381 1,566,571
NONINTEREST INCOME      
Lending fees 83,876 79,208 77,704
Deposit account fees 89,606 88,435 71,261
Customer derivative income 20,200 29,057 22,913
Foreign exchange income 52,481 48,158 48,977
Wealth management fees 26,805 27,565 25,751
Net gains on sales of loans 3,634 6,411 8,909
Net (losses) gains on AFS debt securities (6,862) 1,306 1,568
Other investment income 9,348 7,037 16,852
Other income 16,176 11,489 11,960
Total noninterest income 295,264 298,666 285,895
NONINTEREST EXPENSE      
Compensation and employee benefits 508,538 477,635 433,728
Occupancy and equipment expense 62,763 62,501 62,996
Deposit insurance premiums and regulatory assessments 103,308 19,449 17,563
Deposit account expense 43,143 25,508 16,152
Computer software and data processing expenses 44,475 42,776 46,863
Other operating expense 140,222 118,166 96,330
Amortization of tax credit and other investments 120,299 113,358 122,457
Total noninterest expense 1,022,748 859,393 796,089
INCOME BEFORE INCOME TAXES 1,459,770 1,411,654 1,056,377
INCOME TAX EXPENSE 298,609 283,571 183,396
NET INCOME $ 1,161,161 $ 1,128,083 $ 872,981
EARNINGS PER SHARE (“EPS”)      
BASIC (in dollars per share) $ 8.23 $ 7.98 $ 6.16
DILUTED (in dollars per share) $ 8.18 $ 7.92 $ 6.10
WEIGHTED-AVERAGE NUMBER OF SHARES OUTSTANDING      
BASIC (in shares) 141,164 141,326 141,826
DILUTED (in shares) 141,902 142,492 143,140