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Consolidated Statements of Income and Comprehensive Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income        
Interest and fees on loans $ 325,622 $ 304,699 $ 946,679 $ 868,675
Interest on taxable securities 15,555 14,754 45,595 44,969
Interest on nontaxable securities 336 331 1,001 1,009
Interest on deposits in other banks and federal funds sold 13,633 10,769 38,646 33,568
Total interest income 355,146 330,553 1,031,921 948,221
Interest expense        
Interest on deposits 129,698 102,999 369,117 244,268
Interest on other borrowings 11,388 19,803 35,435 75,010
Total interest expense 141,086 122,802 404,552 319,278
Net interest income 214,060 207,751 627,369 628,943
Provision for loan losses 6,313 30,095 57,184 123,114
Provision for unfunded commitments (204) (5,634) (11,196) (3,415)
Provision for other credit losses (2) (2) (3) 5
Provision for credit losses 6,107 24,459 45,985 119,704
Net interest income after provision for credit losses 207,953 183,292 581,384 509,239
Noninterest income        
Service charges on deposit accounts 12,918 12,092 37,349 34,323
Mortgage banking activity 37,947 36,290 123,776 108,424
Other service charges, commissions and fees 1,163 1,221 3,576 3,167
Net gain (loss) on securities (8) (16) 12,320 (16)
Other noninterest income 17,689 13,594 47,277 40,682
Total noninterest income 69,709 63,181 224,298 186,580
Noninterest expense        
Salaries and employee benefits 88,700 81,898 259,831 244,144
Occupancy and equipment 11,716 12,745 37,160 38,253
Data processing and communications expenses 15,221 12,973 45,068 39,458
Credit resolution-related expenses (110) (1,360) 1,216 (77)
Advertising and marketing 4,089 2,723 10,205 8,882
Amortization of intangible assets 4,180 4,425 13,009 13,819
Loan servicing expense 8,626 9,290 27,857 26,392
Other noninterest expenses 19,355 18,752 61,499 58,399
Total noninterest expense 151,777 141,446 455,845 429,270
Income before income tax expense 125,885 105,027 349,837 266,549
Income tax expense 26,673 24,912 85,528 63,378
Net income 99,212 80,115 264,309 203,171
Other comprehensive income (loss)        
Net unrealized holding gains (losses) arising during period on debt securities available-for-sale, net of tax expense (benefit) of $7,427, $(3,472), $6,710 and $(4,871) 22,296 (10,200) 20,215 (14,311)
Total other comprehensive income (loss) 22,296 (10,200) 20,215 (14,311)
Comprehensive income $ 121,508 $ 69,915 $ 284,524 $ 188,860
Basic earnings per common share (in dollars per share) $ 1.44 $ 1.16 $ 3.84 $ 2.94
Diluted earnings per common share (in dollars per share) $ 1.44 $ 1.16 $ 3.83 $ 2.94
Weighted average common shares outstanding        
Basic (in shares) 68,798,093 68,879,352 68,811,727 69,023,201
Diluted (in shares) 69,066,298 68,994,247 69,031,666 69,129,921