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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest Income        
Interest and fees on loans $ 496,520 $ 309,753 $ 1,229,462 $ 938,248
Interest and dividends on investment securities:        
Taxable 28,264 14,292 74,416 40,174
Tax-exempt 5,210 2,609 12,739 9,181
Dividends 2,738 1,505 7,490 5,543
Interest on federal funds sold and other short-term investments 3,996 642 6,026 1,101
Total interest income 536,728 328,801 1,330,133 994,247
Interest on deposits:        
Savings, NOW and money market 50,674 10,605 77,423 32,896
Time 15,174 4,394 21,274 21,766
Interest on short-term borrowings 5,160 1,464 10,049 4,390
Interest on long-term borrowings and junior subordinated debentures 11,728 11,312 31,566 40,595
Total interest expense 82,736 27,775 140,312 99,647
Net Interest Income 453,992 301,026 1,189,821 894,600
Provision (credit) for credit losses for held to maturity securities 188 35 531 (353)
Provision for credit losses for loans 1,835 3,496 49,047 21,287
Net Interest Income After Provision for Credit Losses 451,969 297,495 1,140,243 873,666
Non-Interest Income        
Insurance commissions 3,750 1,610 9,072 5,805
Gains (losses) on securities transactions, net 323 787 (1,058) 1,263
Fees from loan servicing 3,138 2,894 8,636 8,980
Gains on sales of loans, net 922 6,442 5,510 20,016
Bank owned life insurance 1,681 2,018 5,840 6,824
Other 26,761 19,702 75,391 47,877
Total non-interest income 56,194 42,431 153,997 116,790
Non-Interest Expense        
Salary and employee benefits expense 134,572 93,992 397,103 273,190
Net occupancy expense 26,486 19,941 70,906 59,171
Technology, furniture and equipment expense 39,365 21,007 115,245 64,956
FDIC insurance assessment 6,500 3,644 16,009 10,294
Amortization of other intangible assets 11,088 5,298 26,925 16,753
Professional and legal fees 17,840 13,492 62,998 27,250
Loss on extinguishment of debt 0 0 0 8,406
Amortization of tax credit investments 3,105 3,079 9,194 8,795
Other 22,683 14,469 60,329 38,213
Total non-interest expense 261,639 174,922 758,709 507,028
Income Before Income Taxes 246,524 165,004 535,531 483,428
Income tax expense 68,405 42,424 144,271 124,626
Net Income 178,119 122,580 391,260 358,802
Dividends on preferred stock 3,172 3,172 9,516 9,516
Net Income Available to Common Shareholders $ 174,947 $ 119,408 $ 381,744 $ 349,286
Earnings Per Common Share:        
Basic (usd per share) $ 0.35 $ 0.29 $ 0.80 $ 0.86
Diluted (usd per share) 0.34 0.29 0.79 0.86
Cash Dividends Declared per Common Share (usd per share) $ 0.11 $ 0.11 $ 0.33 $ 0.33
Weighted Average Number of Common Shares Outstanding:        
Basic (in shares) 506,342,200 406,824,160 478,383,342 405,986,114
Diluted (in shares) 508,690,997 409,238,001 480,625,357 408,509,767
Wealth management and trust fees        
Non-Interest Income        
Revenue from contracts with customer $ 9,281 $ 3,550 $ 23,989 $ 10,411
Service charges on deposit accounts        
Non-Interest Income        
Revenue from contracts with customer $ 10,338 $ 5,428 $ 26,617 $ 15,614