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UNAUDITED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest and dividend income:        
Interest and fees on loans $ 241,100 $ 172,514 $ 469,567 $ 342,495
Taxable interest and dividends on securities 34,113 22,724 65,273 46,097
Non-taxable interest and dividends on securities 1,767 1,439 3,209 2,876
Interest on federal funds sold and other short-term investments 2,359 10,699 6,995 18,519
Total interest and dividend income 279,339 207,376 545,044 409,987
Interest expense:        
Interest on deposits 76,706 78,483 152,704 150,943
Interest on borrowings 603 244 1,411 495
Total interest expense 77,309 78,727 154,115 151,438
Net interest income 202,030 128,649 390,929 258,549
Provision for allowance for loan losses 7,600 6,126 14,200 13,577
Net interest income after provision for allowance for loan losses 194,430 122,523 376,729 244,972
Noninterest income (loss):        
Investment advisory fees 17,282 6,711 33,719 13,255
Service charges on deposit accounts 8,244 7,930 16,559 15,438
Card income 4,230 4,075 8,150 8,001
Interest rate swap income 978 418 1,466 1,085
Income from investments held in rabbi trusts 5,727 1,761 4,470 6,079
Losses on sales of mortgage loans held for sale, net (97) (152) (230) (210)
Losses on sales of securities available for sale, net 0 (7,557) (269,638) (7,557)
Miscellaneous income and fees 5,869 12,164 12,249 16,951
Other non-operating income (loss) 618 (2) (12) (2)
Total noninterest income (loss) 42,851 25,348 (193,267) 53,040
Noninterest expense:        
Salaries and employee benefits 80,696 64,835 160,555 129,303
Occupancy and equipment 11,230 10,098 21,847 19,276
Technology and data processing 18,395 15,741 36,410 31,385
Professional services 3,037 3,306 5,961 6,031
Marketing expenses 2,432 1,910 4,164 3,425
FDIC insurance 3,780 4,508 7,068 6,793
Amortization of intangible assets 7,807 504 15,615 1,008
Other operating expenses 7,002 5,283 12,879 8,350
Non-operating expenses 2,582 3,684 2,582 5,500
Total noninterest expense 136,961 109,869 267,081 211,071
Income (loss) before income tax expense 100,320 38,002 (83,619) 86,941
Income tax expense 87 11,671 33,814 21,963
Net income (loss) $ 100,233 $ 26,331 $ (117,433) $ 64,978
Basic earnings (loss) per share (in dollars per share) $ 0.50 $ 0.16 $ (0.59) $ 0.40
Diluted earnings (loss) per share (in dollars per share) $ 0.50 $ 0.16 $ (0.59) $ 0.40