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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Loans $ 276,041 $ 274,324 $ 546,825 $ 539,618
Investment securities        
Taxable 26,444 32,587 53,877 65,816
Tax-exempt 7,626 7,769 15,276 15,572
Deposits – other banks 8,951 12,564 15,571 23,092
Federal funds sold 53 59 108 120
Total interest income 319,115 327,303 631,657 644,218
Interest expense:        
Interest on deposits 88,489 95,741 175,275 188,289
FHLB and other borrowed funds 5,539 14,255 11,441 28,531
Securities sold under agreements to repurchase 1,012 1,363 2,086 2,767
Subordinated debentures 4,123 4,122 8,247 8,219
Total interest expense 99,163 115,481 197,049 227,806
Net interest income 219,952 211,822 434,608 416,412
Provision for credit losses on loans 3,000 8,000 3,000 13,500
Recovery of credit losses on unfunded commitments 0 0 0 (1,000)
Total credit loss expense 3,000 8,000 3,000 12,500
Net interest income after credit loss expense 216,952 203,822 431,608 403,912
Non-interest income:        
Trust fees 5,234 4,722 9,994 9,788
Mortgage lending income 4,780 4,276 8,379 7,834
Insurance commissions 589 565 1,124 1,073
Increase in cash value of life insurance 1,415 1,279 3,257 2,474
Dividends from FHLB, FRB, FNBB & other 2,657 2,998 5,375 6,005
Gain on sale of SBA loans 0 56 288 254
Gain on sale of branches, equipment and other assets, net 972 2,052 809 2,044
Gain (loss) on OREO, net 13 49 (363) 66
Fair value adjustment for marketable securities (238) (274) 204 729
Other income 13,462 6,658 24,904 14,038
Total non-interest income 51,079 42,774 96,505 84,573
Non-interest expense:        
Salaries and employee benefits 64,318 60,427 126,173 121,337
Occupancy and equipment 14,023 14,408 28,448 28,959
Data processing expense 8,364 8,935 16,922 18,082
Other operating expenses 29,335 29,415 57,425 56,303
Total non-interest expense 116,040 113,185 228,968 224,681
Income before income taxes 151,991 133,411 299,145 263,804
Income tax expense 33,588 31,881 65,533 62,165
Net income $ 118,403 $ 101,530 $ 233,612 $ 201,639
Basic earnings per share (in dollars per share) $ 0.60 $ 0.51 $ 1.18 $ 1.00
Diluted earnings per share (in dollars per share) $ 0.60 $ 0.51 $ 1.18 $ 1.00
Service charges on deposit accounts        
Non-interest income:        
Service charges $ 9,552 $ 9,714 $ 19,202 $ 19,400
Other service charges and fees        
Non-interest income:        
Service charges $ 12,643 $ 10,679 $ 23,332 $ 20,868