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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest Income        
Loans, including fees $ 352,697 $ 284,690 $ 663,913 $ 545,341
Investment securities 32,079 25,362 57,201 50,883
Other interest income 15,730 4,860 19,058 8,508
Total Interest Income 400,506 314,912 740,172 604,732
Interest Expense        
Deposits 131,087 69,799 234,661 111,420
Federal funds purchased 492 9,112 2,881 15,147
Federal Home Loan Bank advances 9,799 11,826 20,748 27,299
Senior debt and subordinated debt 5,299 5,344 10,604 10,689
Other borrowings and interest-bearing liabilities 12,109 5,979 22,621 11,738
Total Interest Expense 158,786 102,060 291,515 176,293
Net Interest Income 241,720 212,852 448,657 428,439
Provision for credit losses 32,056 9,747 42,981 34,291
Net Interest Income After Provision for Credit Losses 209,664 203,105 405,676 394,148
Non-Interest Income        
Non-interest income before investment securities gains 113,276 60,589 170,415 112,320
Gain on acquisition, net of tax 47,392 0 47,392 0
Investment securities (losses) gains, net (20,282) (4) (20,282) 19
Total Non-Interest Income 92,994 60,585 150,133 112,339
Non-Interest Expense        
Salaries and employee benefits 110,630 94,102 206,111 183,385
Data processing and software 20,357 16,776 38,018 32,571
Net occupancy 17,793 14,374 33,943 28,812
Other outside services 16,933 10,834 30,216 20,960
FDIC insurance 6,696 4,895 12,800 9,690
Equipment 4,561 3,530 8,602 6,920
Professional fees 2,571 1,829 4,659 4,221
Marketing 2,101 1,655 4,012 3,541
Intangible amortization 4,688 1,072 5,261 1,746
Acquisition-related expenses 13,803 0 13,803 0
Other (645) 18,951 19,662 35,790
Total Non-Interest Expense 199,488 168,018 377,087 327,636
Income Before Income Taxes 103,170 95,672 178,722 178,851
Income taxes 8,195 16,065 21,806 30,931
Net Income 94,975 79,607 156,916 147,920
Preferred stock dividends (2,562) (2,562) (5,124) (5,124)
Net Income Available to Common Shareholders $ 92,413 $ 77,045 $ 151,792 $ 142,796
PER SHARE:        
Net Income (Basic) (in dollars per share) $ 0.53 $ 0.46 $ 0.90 $ 0.86
Net Income (Diluted) (in dollars per share) 0.52 0.46 0.89 0.85
Cash Dividends (in dollars per share) $ 0.17 $ 0.16 $ 0.34 $ 0.31
Wealth management        
Non-Interest Income        
Non-interest income before investment securities gains $ 20,990 $ 18,678 $ 41,144 $ 36,740
Commercial banking        
Non-Interest Income        
Non-interest income before investment securities gains 21,410 23,145 40,238 40,658
Consumer banking        
Non-Interest Income        
Non-interest income before investment securities gains 14,600 11,720 26,268 22,937
Mortgage banking        
Non-Interest Income        
Non-interest income before investment securities gains 3,951 2,940 7,041 4,910
Other        
Non-Interest Income        
Non-interest income before investment securities gains $ 4,933 $ 4,106 $ 8,332 $ 7,075