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CONSOLIDATED STATEMENT OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
INTEREST AND DIVIDEND INCOME        
Loans receivable, including fees $ 874,489 $ 865,695 $ 1,733,367 $ 1,706,107
Debt securities 170,329 153,788 330,507 301,572
Resale agreements 1,624 1,624 3,249 3,234
Restricted equity securities 3,165 2,957 8,143 5,816
Interest-bearing cash and deposits with banks 31,216 34,935 61,067 74,072
Total interest and dividend income 1,080,823 1,058,999 2,136,333 2,090,801
INTEREST EXPENSE        
Deposits 359,422 400,588 714,834 792,569
Federal funds purchased and other short-term borrowings 5 1 9 7
FHLB advances 29,455 39,313 54,459 78,179
Repurchase agreements 6,680 1,352 9,970 1,429
Long-term debt and finance lease liabilities 610 671 1,217 1,342
Total interest expense 396,172 441,925 780,489 873,526
Net interest income before provision for credit losses 684,651 617,074 1,355,844 1,217,275
Provision for credit losses 33,000 45,000 69,000 94,000
Net interest income after provision for credit losses 651,651 572,074 1,286,844 1,123,275
NONINTEREST INCOME        
Commercial and consumer deposit-related fees 31,621 26,865 62,240 53,940
Lending and loan servicing fees 27,961 25,586 54,031 51,816
Foreign exchange income 14,926 13,715 30,373 29,552
Wealth management fees 19,461 10,725 41,721 24,404
Customer derivative income and derivative mark-to-market adjustments 1,163 2,201 6,692 6,270
Net gains on AFS debt securities 2,931 746 3,547 877
Other investment (loss) income (49) 678 2,907 2,940
Other income 8,478 5,662 7,537 8,481
Total noninterest income 106,492 86,178 209,048 178,280
NONINTEREST EXPENSE        
Compensation and employee benefits 172,543 144,841 345,208 291,276
Occupancy and equipment expense 19,553 16,289 37,801 31,978
Computer and software related expenses 15,433 13,446 30,180 26,760
Deposit insurance premiums and regulatory assessments 10,268 9,133 19,127 19,518
Deposit account expense 8,906 9,348 16,439 18,390
Other real estate owned (“OREO”) expense (income) 2,254 (493) 1,990 3,673
Other operating expense 38,869 37,220 75,411 74,595
Amortization of tax credit and CRA investments 22,796 26,236 44,780 41,978
Total noninterest expense 290,622 256,020 570,936 508,168
INCOME BEFORE INCOME TAXES 467,521 402,232 924,956 793,387
Income tax expense 103,821 91,979 203,460 192,864
NET INCOME $ 363,700 $ 310,253 $ 721,496 $ 600,523
Earnings per share (“EPS”)        
Basic (in dollars per share) $ 2.65 $ 2.25 $ 5.24 $ 4.35
Diluted (in dollars per share) $ 2.63 $ 2.24 $ 5.21 $ 4.32
Weighted-average number of shares outstanding        
Basic (in shares) 137,450 137,818 137,757 138,009
Diluted (in shares) 138,301 138,789 138,568 139,058