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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income        
Loans and lease financing $ 202,068 $ 185,340 $ 401,912 $ 357,679
Available-for-sale investment securities 14,143 18,094 28,689 36,782
Held-to-maturity investment securities 17,575 18,282 35,368 37,239
Other 11,148 7,489 23,917 11,050
Total interest income 244,934 229,205 489,886 442,750
Interest expense        
Deposits 85,609 58,071 169,752 101,355
Short-term and long-term borrowings 5,953 10,656 11,906 13,219
Other 521 539 950 990
Total interest expense 92,083 69,266 182,608 115,564
Net interest income 152,851 159,939 307,278 327,186
Provision for credit losses 1,800 5,000 8,100 13,800
Net interest income after provision for credit losses 151,051 154,939 299,178 313,386
Noninterest income        
Service charges on deposit accounts 7,793 7,246 15,339 14,477
Credit and debit card fees 15,861 15,461 32,034 31,759
Other service charges and fees 11,036 9,056 20,940 18,218
Trust and investment services income 9,426 9,448 19,780 19,062
Bank-owned life insurance 3,360 3,271 7,646 8,391
Other 4,292 2,866 7,400 4,464
Total noninterest income 51,768 47,348 103,139 96,371
Noninterest expense        
Salaries and employee benefits 57,737 57,904 116,999 113,936
Contracted services and professional fees 16,067 17,498 31,806 33,811
Occupancy 7,377 7,554 14,318 15,336
Equipment 13,196 11,000 26,609 20,736
Regulatory assessment and fees 3,814 3,676 11,934 7,512
Advertising and marketing 1,765 1,891 4,377 3,885
Card rewards program 8,719 7,681 17,227 15,766
Other 13,411 13,677 27,629 28,466
Total noninterest expense 122,086 120,881 250,899 239,448
Income before provision for income taxes 80,733 81,406 151,418 170,309
Provision for income taxes 18,812 18,964 35,277 41,049
Net income $ 61,921 $ 62,442 $ 116,141 $ 129,260
Basic earnings per share $ 0.48 $ 0.49 $ 0.91 $ 1.01
Diluted earnings per share $ 0.48 $ 0.49 $ 0.91 $ 1.01
Basic weighted-average outstanding shares 127,867,853 127,591,371 127,787,663 127,522,975
Diluted weighted-average outstanding shares 128,262,594 127,832,351 128,279,917 127,901,225