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CONSOLIDATED STATEMENT OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
INTEREST AND DIVIDEND INCOME    
Loans receivable, including fees $ 866,389 $ 728,386
Debt securities 75,392 65,931
Resale agreements 6,115 4,503
Restricted equity securities 1,339 1,039
Interest-bearing cash and deposits with banks 74,382 35,647
Total interest and dividend income 1,023,617 835,506
INTEREST EXPENSE    
Deposits 406,199 216,794
Federal funds purchased and other short-term borrowings 42,106 8,825
FHLB advances 7,739 6,430
Securities sold under repurchase agreements (“repurchase agreements”) 35 1,052
Long-term debt and finance lease liabilities 2,399 2,544
Total interest expense 458,478 235,645
Net interest income before provision for credit losses 565,139 599,861
Provision for credit losses 25,000 20,000
Net interest income after provision for credit losses 540,139 579,861
NONINTEREST INCOME    
Deposit account fees 24,948 23,054
Lending fees 22,925 20,586
Foreign exchange income 11,469 11,309
Wealth management fees 8,592 6,304
Customer derivative income 3,750 2,564
Net losses on sales of loans (41) (22)
Net gains (losses) on AFS debt securities 49 (10,000)
Other investment income 2,815 1,921
Other income 4,481 4,262
Total noninterest income 78,988 59,978
NONINTEREST EXPENSE    
Compensation and employee benefits 141,812 129,654
Occupancy and equipment expense 15,230 15,587
Deposit insurance premiums and regulatory assessments 19,649 7,910
Deposit account expense 12,188 9,609
Computer software and data processing expenses 11,344 10,707
Other operating expense 33,445 34,870
Amortization of tax credit and CRA investments 13,207 10,110
Noninterest expense 246,875 218,447
INCOME BEFORE INCOME TAXES 372,252 421,392
INCOME TAX EXPENSE 87,177 98,953
NET INCOME $ 285,075 $ 322,439
EARNINGS PER SHARE (“EPS”)    
BASIC (in dollars per share) $ 2.04 $ 2.28
DILUTED (in dollars per share) $ 2.03 $ 2.27
WEIGHTED-AVERAGE NUMBER OF SHARES OUTSTANDING    
BASIC (in shares) 139,409 141,112
DILUTED (in shares) 140,261 141,913