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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest Income        
Interest and fees on loans $ 415,577 $ 315,314 $ 732,942 $ 628,495
Interest and dividends on investment securities:        
Taxable 27,534 12,716 45,973 25,882
Tax-exempt 5,191 3,216 7,708 6,572
Dividends 3,076 2,167 4,752 4,038
Interest on federal funds sold and other short-term investments 1,569 235 2,030 459
Total interest income 452,947 333,648 793,405 665,446
Interest on deposits:        
Savings, NOW and money market 17,122 11,166 26,749 22,291
Time 3,269 6,279 6,100 17,372
Interest on short-term borrowings 4,083 1,168 4,889 2,926
Interest on long-term borrowings and junior subordinated debentures 10,313 14,128 19,838 29,283
Total interest expense 34,787 32,741 57,576 71,872
Net Interest Income 418,160 300,907 735,829 593,574
Provision (credit) for credit losses for held to maturity securities 286 (30) 343 (388)
Provision for credit losses for loans 43,712 8,777 47,212 17,791
Net Interest Income After Provision for Credit Losses 374,162 292,160 688,274 576,171
Non-Interest Income        
Insurance commissions 3,463 2,637 5,322 4,195
(Losses) gains on securities transactions, net (309) 375 (1,381) 476
Fees from loan servicing 2,717 3,187 5,498 6,086
Gains on sales of loans, net 3,602 10,061 4,588 13,574
Bank owned life insurance 2,113 2,475 4,159 4,806
Other 27,303 15,776 48,630 28,175
Total non-interest income 58,533 43,126 97,803 74,359
Non-Interest Expense        
Salary and employee benefits expense 154,798 91,095 262,531 179,198
Net occupancy expense 22,429 18,550 44,420 39,230
Technology, furniture and equipment expense 49,866 23,220 75,880 43,950
FDIC insurance assessment 5,351 3,374 9,509 6,650
Amortization of other intangible assets 11,400 5,449 15,837 11,455
Professional and legal fees 30,409 7,486 45,158 13,758
Loss on extinguishment of debt 0 8,406 0 8,406
Amortization of tax credit investments 3,193 2,972 6,089 5,716
Other 22,284 11,341 37,646 23,743
Total non-interest expense 299,730 171,893 497,070 332,106
Income Before Income Taxes 132,965 163,393 289,007 318,424
Income tax expense 36,552 42,881 75,866 82,202
Net Income 96,413 120,512 213,141 236,222
Dividends on preferred stock 3,172 3,172 6,344 6,344
Net Income Available to Common Shareholders $ 93,241 $ 117,340 $ 206,797 $ 229,878
Earnings Per Common Share:        
Basic (usd per share) $ 0.18 $ 0.29 $ 0.45 $ 0.57
Diluted (usd per share) 0.18 0.29 0.44 0.56
Cash Dividends Declared per Common Share (usd per share) $ 0.11 $ 0.11 $ 0.22 $ 0.22
Weighted Average Number of Common Shares Outstanding:        
Basic (in shares) 506,302,464 405,963,209 464,172,210 405,560,146
Diluted (in shares) 508,479,206 408,660,778 466,320,683 408,152,458
Wealth management and trust fees        
Non-Interest Income        
Revenue from contracts with customer $ 9,577 $ 3,532 $ 14,708 $ 6,861
Service charges on deposit accounts        
Non-Interest Income        
Revenue from contracts with customer $ 10,067 $ 5,083 $ 16,279 $ 10,186