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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest Income        
Interest and fees on loans $ 770,964 $ 715,172 $ 1,542,517 $ 1,370,398
Interest and dividends on investment securities:        
Taxable 40,460 31,919 76,257 64,208
Tax-exempt 4,799 5,575 9,595 10,900
Dividends 6,341 7,517 13,169 12,702
Interest on federal funds sold and other short-term investments 10,902 27,276 20,584 49,481
Total interest income 833,466 787,459 1,662,122 1,507,689
Interest on deposits:        
Savings, NOW and money market 231,597 164,842 464,103 315,608
Time 160,442 125,764 311,507 206,062
Interest on short-term borrowings 691 50,208 21,303 84,156
Interest on long-term borrowings and junior subordinated debentures 39,051 26,880 69,976 46,078
Total interest expense 431,781 367,694 866,889 651,904
Net Interest Income 401,685 419,765 795,233 855,785
(Credit) provision for credit losses for available for sale and held to maturity securities (41) (282) (115) 4,705
Provision for credit losses for loans 82,111 6,332 127,385 15,782
Net Interest Income After Provision for Credit Losses 319,615 413,715 667,963 835,298
Non-Interest Income        
Insurance commissions 3,958 3,139 6,209 5,559
Capital markets 7,779 16,967 13,449 27,859
Gains on securities transactions, net 3 217 52 595
Fees from loan servicing 2,691 2,702 5,879 5,373
Gains on sales of loans, net 884 1,240 2,502 1,729
(Losses) gains on sales of assets, net (2) 161 3,692 285
Bank owned life insurance 4,545 2,443 7,780 5,027
Other 7,007 11,488 19,538 26,166
Total non-interest income 51,213 60,075 112,628 114,374
Non-Interest Expense        
Salary and employee benefits expense 140,815 149,594 282,646 294,580
Net occupancy expense 24,252 25,949 48,575 49,205
Technology, furniture and equipment expense 35,203 32,476 70,665 68,984
FDIC insurance assessment 14,446 10,426 32,682 19,581
Amortization of other intangible assets 8,568 9,812 17,980 20,331
Professional and legal fees 17,938 21,406 34,403 38,220
Amortization of tax credit investments 5,791 5,018 11,353 9,271
Other 30,484 28,290 59,503 54,965
Total non-interest expense 277,497 282,971 557,807 555,137
Income Before Income Taxes 93,331 190,819 222,784 394,535
Income tax expense 22,907 51,759 56,080 108,924
Net Income 70,424 139,060 166,704 285,611
Dividends on preferred stock 4,108 4,030 8,227 7,904
Net Income Available to Common Shareholders $ 66,316 $ 135,030 $ 158,477 $ 277,707
Earnings Per Common Share:        
Basic (usd per share) $ 0.13 $ 0.27 $ 0.31 $ 0.55
Diluted (usd per share) $ 0.13 $ 0.27 $ 0.31 $ 0.55
Wealth management and trust fees        
Non-Interest Income        
Revenue from contracts with customer $ 13,136 $ 11,176 $ 31,066 $ 20,763
Service charges on deposit accounts        
Non-Interest Income        
Revenue from contracts with customer $ 11,212 $ 10,542 $ 22,461 $ 21,018