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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest Income        
Loans, including fees $ 205,468 $ 161,889 $ 519,375 $ 480,955
Investment securities 25,927 20,003 72,424 59,165
Loans held for sale 194 299 694 969
Other interest income 2,102 1,888 4,498 4,599
Total Interest Income 233,691 184,079 596,991 545,688
Interest Expense        
Deposits 10,049 6,525 21,451 24,108
Federal funds purchased 550 0 540 0
Federal Home Loan Bank advances 1,404 0 1,404 2,286
Senior debt and subordinated debt 5,494 6,144 16,921 20,704
Other borrowings 612 140 952 472
Total Interest Expense 18,109 12,809 41,268 47,570
Net Interest Income 215,582 171,270 555,723 498,118
Provision for credit losses 18,958 (600) 13,508 (9,600)
Net Interest Income After Provision for Credit Losses 196,624 171,870 542,215 507,718
Non-Interest Income        
Non-interest income before investment securities gains 59,215 62,577 172,835 176,353
Investment securities gains (losses), net (53) 0 (26) 33,511
Total Non-Interest Income 59,162 62,577 172,809 209,864
Non-Interest Expense        
Salaries and employee benefits 94,283 82,679 264,151 243,632
Data processing and software 15,807 14,335 44,807 41,828
Net occupancy 14,025 12,957 42,134 39,433
Other outside services 9,361 7,889 26,292 24,557
State taxes 3,583 4,994 10,188 13,883
Equipment 3,548 3,416 10,393 10,268
FDIC insurance 3,158 2,727 9,328 7,633
Professional fees 2,373 2,271 6,178 7,701
Marketing 1,859 1,448 4,505 3,798
Intangible amortization 690 150 1,043 443
Debt extinguishment 0 0 0 32,575
Merger-related expenses 7,006 0 8,434 0
Other 13,865 11,730 37,813 38,060
Total Non-Interest Expense 169,558 144,596 465,266 463,811
Income Before Income Taxes 86,228 89,851 249,758 253,771
Income taxes 15,357 14,268 44,610 40,160
Net Income 70,871 75,583 205,148 213,611
Preferred stock dividends (2,562) (2,562) (7,686) (7,715)
Net Income Available to Common Shareholders $ 68,309 $ 73,021 $ 197,462 $ 205,896
PER SHARE:        
Net Income (Basic) (in dollars per share) $ 0.41 $ 0.45 $ 1.21 $ 1.27
Net Income (Diluted) (in dollars per share) 0.40 0.45 1.20 1.26
Cash Dividends (in dollars per share) $ 0.15 $ 0.14 $ 0.45 $ 0.42
Commercial banking        
Non-Interest Income        
Non-interest income before investment securities gains $ 20,808 $ 16,738 $ 57,175 $ 50,209
Consumer banking        
Non-Interest Income        
Non-interest income before investment securities gains 13,275 11,801 37,421 33,415
Wealth management        
Non-Interest Income        
Non-interest income before investment securities gains 17,610 18,532 55,312 53,513
Mortgage banking        
Non-Interest Income        
Non-interest income before investment securities gains 3,720 9,535 12,064 26,333
Other        
Non-Interest Income        
Non-interest income before investment securities gains $ 3,802 $ 5,971 $ 10,863 $ 12,883