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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest Income        
Interest and fees on loans $ 753,638 $ 496,520 $ 2,124,036 $ 1,229,462
Interest and dividends on investment securities:        
Taxable 32,383 28,264 96,591 74,416
Tax-exempt 4,585 5,210 15,485 12,739
Dividends 5,299 2,738 18,001 7,490
Interest on federal funds sold and other short-term investments 17,113 3,996 66,594 6,026
Total interest income 813,018 536,728 2,320,707 1,330,133
Interest on deposits:        
Savings, NOW and money market 201,916 50,674 517,524 77,423
Time 164,336 15,174 370,398 21,274
Interest on short-term borrowings 5,189 5,160 89,345 10,049
Interest on long-term borrowings and junior subordinated debentures 29,159 11,728 75,237 31,566
Total interest expense 400,600 82,736 1,052,504 140,312
Net Interest Income 412,418 453,992 1,268,203 1,189,821
(Credit) provision for credit losses for available for sale and held to maturity securities (30) 188 4,675 531
Provision for credit losses for loans 9,147 1,835 24,929 49,047
Net Interest Income After Provision for Credit Losses 403,301 451,969 1,238,599 1,140,243
Non-Interest Income        
Insurance commissions 2,336 3,750 7,895 9,072
Capital markets 7,141 13,171 35,000 42,242
(Losses) gains on securities transactions, net (398) 323 197 (1,058)
Fees from loan servicing 2,681 3,138 8,054 8,636
Gains on sales of loans, net 2,023 922 3,752 5,510
Gains (losses) on sales of assets, net 6,653 (106) 6,938 (372)
Bank owned life insurance 2,709 1,681 7,736 5,840
Other 13,150 13,696 39,316 33,521
Total non-interest income 58,664 56,194 173,038 153,997
Non-Interest Expense        
Salary and employee benefits expense 137,292 134,572 431,872 397,103
Net occupancy expense 24,675 26,486 73,880 70,906
Technology, furniture and equipment expense 37,320 39,365 106,304 115,245
FDIC insurance assessment 7,946 6,500 27,527 16,009
Amortization of other intangible assets 9,741 11,088 30,072 26,925
Professional and legal fees 17,109 17,840 55,329 62,998
Amortization of tax credit investments 4,191 3,105 13,462 9,194
Other 28,859 22,683 83,824 60,329
Total non-interest expense 267,133 261,639 822,270 758,709
Income Before Income Taxes 194,832 246,524 589,367 535,531
Income tax expense 53,486 68,405 162,410 144,271
Net Income 141,346 178,119 426,957 391,260
Dividends on preferred stock 4,127 3,172 12,031 9,516
Net Income Available to Common Shareholders $ 137,219 $ 174,947 $ 414,926 $ 381,744
Earnings Per Common Share:        
Basic (usd per share) $ 0.27 $ 0.35 $ 0.82 $ 0.80
Diluted (usd per share) $ 0.27 $ 0.34 $ 0.81 $ 0.79
Wealth management and trust fees        
Non-Interest Income        
Revenue from contracts with customer $ 11,417 $ 9,281 $ 32,180 $ 23,989
Service charges on deposit accounts        
Non-Interest Income        
Revenue from contracts with customer $ 10,952 $ 10,338 $ 31,970 $ 26,617