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Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Loans including fees:        
Taxable $ 474,387 $ 331,271 $ 1,334,658 $ 800,535
Nontaxable 11,181 6,461 32,318 14,770
Investment securities:        
Taxable 66,924 56,765 191,797 145,633
Nontaxable 10,833 11,086 33,039 32,370
Money market and other interest-earning investments 13,194 935 25,258 3,073
Total interest income 576,519 406,518 1,617,070 996,381
Interest Expense        
Deposits 147,428 10,820 310,995 19,201
Federal funds purchased and interbank borrowings 910 720 11,404 722
Securities sold under agreements to repurchase 710 106 2,389 287
Federal Home Loan Bank advances 40,382 13,027 123,466 25,915
Other borrowings 12,003 5,256 30,071 13,410
Total interest expense 201,433 29,929 478,325 59,535
Net interest income 375,086 376,589 1,138,745 936,846
Provision for credit losses 19,068 15,490 47,292 133,391
Net interest income after provision for credit losses 356,018 361,099 1,091,453 803,455
Noninterest Income        
Wealth and investment services fees 26,687 25,359 80,128 75,183
Service charges on deposit accounts 18,524 20,042 53,278 54,392
Debit card and ATM fees 10,818 10,608 31,453 29,429
Mortgage banking revenue 5,063 5,360 12,628 19,127
Capital markets income 5,891 8,906 19,003 20,609
Company-owned life insurance 3,740 3,361 11,624 11,456
Debt securities gains (losses), net (241) (172) (5,440) 85
Other income 10,456 6,921 30,574 24,461
Total noninterest income 80,938 80,385 233,248 234,742
Noninterest Expense        
Salaries and employee benefits 131,541 147,203 404,715 433,167
Occupancy 25,795 26,418 80,162 73,933
Equipment 8,284 7,328 23,394 20,046
Marketing 9,448 10,361 28,698 23,756
Technology 20,592 20,269 59,850 64,914
Communication 4,075 5,392 12,768 14,687
Professional fees 5,956 6,559 19,085 32,686
FDIC assessment 9,000 6,249 29,028 13,523
Amortization of intangibles 6,040 7,089 18,286 19,070
Amortization of tax credit investments 2,644 2,662 8,167 5,703
Property optimization 0 0 1,559 0
Other expense 21,401 22,914 56,359 54,023
Total noninterest expense 244,776 262,444 742,071 755,508
Income before income taxes 192,180 179,040 582,630 282,689
Income tax expense 44,304 38,887 133,118 55,137
Net income 147,876 140,153 449,512 227,552
Preferred dividends (4,034) (4,034) (12,101) (10,084)
Net income applicable to common shareholders $ 143,842 $ 136,119 $ 437,411 $ 217,468
Net income per common share - basic (in dollars per share) $ 0.49 $ 0.47 $ 1.50 $ 0.81
Net income per common share - diluted (in dollars per share) $ 0.49 $ 0.47 $ 1.50 $ 0.80
Weighted average number of common shares outstanding - basic (in shares) 290,648 290,961 290,763 269,843
Weighted average number of common shares outstanding - diluted (in shares) 291,717 292,483 291,809 271,123
Dividends per common share (in dollars per share) $ 0.14 $ 0.14 $ 0.42 $ 0.42