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Unaudited Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest and dividend income:        
Interest and fees on loans $ 160,862 $ 107,236 $ 314,402 $ 208,603
Taxable interest and dividends on securities 24,618 31,121 53,260 58,997
Non-taxable interest and dividends on securities 1,434 1,862 2,868 3,668
Interest on federal funds sold and other short-term investments 14,851 652 20,115 1,088
Total interest and dividend income 201,765 140,871 390,645 272,356
Interest expense:        
Interest on deposits 56,146 3,061 99,079 6,383
Interest on borrowings 4,031 53 11,669 92
Total interest expense 60,177 3,114 110,748 6,475
Net interest income 141,588 137,757 279,897 265,881
Provision for allowance for loan losses 7,501 1,050 7,526 565
Net interest income after provision for allowance for loan losses 134,087 136,707 272,371 265,316
Noninterest income (loss):        
Insurance commissions 27,609 24,682 59,112 53,395
Service charges on deposit accounts 7,242 8,313 13,714 16,850
Trust and investment advisory fees 6,131 5,994 11,901 12,135
Debit card processing fees 3,513 3,223 6,683 6,168
Interest rate swap income 825 1,593 417 4,525
Income (losses) from investments held in rabbi trusts 3,002 (7,316) 5,859 (11,749)
(Losses) gains on sales of mortgage loans held for sale, net (50) 49 (124) 218
Losses on sales of securities available for sale, net 0 (104) (333,170) (2,276)
Other 5,559 5,443 11,109 9,026
Total noninterest income (loss) 53,831 41,877 (224,499) 88,292
Noninterest expense:        
Salaries and employee benefits 79,224 72,996 157,702 142,522
Office occupancy and equipment 9,802 9,888 19,680 21,502
Data processing 13,874 14,345 27,315 29,665
Professional services 4,056 3,532 7,476 7,482
Marketing expenses 2,136 2,651 3,233 4,225
Loan expenses 1,115 1,626 2,210 3,545
FDIC insurance 3,034 1,720 5,580 3,132
Amortization of intangible assets 1,172 907 2,132 1,734
Other 7,235 3,474 12,614 6,198
Total noninterest expense 121,648 111,139 237,942 220,005
Income (loss) before income tax expense (benefit) 66,270 67,445 (190,070) 133,603
Income tax expense (benefit) 17,613 16,273 (44,631) 30,915
Net income (loss) $ 48,657 $ 51,172 $ (145,439) $ 102,688
Basic earnings per share (in dollars per share) $ 0.30 $ 0.31 $ (0.90) $ 0.61
Diluted earnings per share (in dollars per share) $ 0.30 $ 0.31 $ (0.90) $ 0.61