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CONSOLIDATED STATEMENTS OF 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        
Loans and lease financing $ 205,682 $ 194,098 $ 607,594 $ 551,777
Available-for-sale investment securities 12,850 18,426 41,539 55,208
Held-to-maturity investment securities 16,937 18,271 52,305 55,510
Other 14,527 9,004 38,444 20,054
Total interest income 249,996 239,799 739,882 682,549
Interest expense        
Deposits 87,500 74,651 257,252 176,006
Short-term and long-term borrowings 5,397 6,838 17,303 20,057
Other 392 1,162 1,342 2,152
Total interest expense 93,289 82,651 275,897 198,215
Net interest income 156,707 157,148 463,985 484,334
Provision for credit losses 7,400 7,500 15,500 21,300
Net interest income after provision for credit losses 149,307 149,648 448,485 463,034
Noninterest income        
Service charges on deposit accounts 7,783 7,524 23,122 22,001
Credit and debit card fees 17,533 15,748 49,567 47,507
Other service charges and fees 11,790 9,546 32,730 27,764
Trust and investment services income 9,077 9,742 28,857 28,804
Bank-owned life insurance 4,502 1,872 12,148 10,263
Other 2,603 1,665 10,003 6,129
Total noninterest income 53,288 46,097 156,427 142,468
Noninterest expense        
Salaries and employee benefits 59,563 55,937 176,562 169,873
Contracted services and professional fees 14,634 16,393 46,440 50,204
Occupancy 6,945 6,711 21,263 22,047
Equipment 13,078 11,826 39,687 32,562
Regulatory assessment and fees 3,412 4,149 15,346 11,661
Advertising and marketing 1,813 2,289 6,190 6,174
Card rewards program 8,678 8,358 25,905 24,124
Other 18,024 13,720 45,653 42,186
Total noninterest expense 126,147 119,383 377,046 358,831
Income before provision for income taxes 76,448 76,362 227,866 246,671
Provision for income taxes 14,956 18,141 50,233 59,190
Net income $ 61,492 $ 58,221 $ 177,633 $ 187,481
Basic earnings per share $ 0.48 $ 0.46 $ 1.39 $ 1.47
Diluted earnings per share $ 0.48 $ 0.46 $ 1.38 $ 1.47
Basic weighted-average outstanding shares 127,886,167 127,609,860 127,820,737 127,552,255
Diluted weighted-average outstanding shares 128,504,035 127,936,440 128,362,433 127,897,829