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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest Income        
Interest and fees on loans $ 786,680 $ 753,638 $ 2,329,197 $ 2,124,036
Interest and dividends on investment securities:        
Taxable 49,700 32,383 125,957 96,591
Tax-exempt 4,855 4,585 14,450 15,485
Dividends 5,929 5,299 19,098 18,001
Interest on federal funds sold and other short-term investments 13,385 17,113 33,969 66,594
Total interest income 860,549 813,018 2,522,671 2,320,707
Interest on deposits:        
Savings, NOW and money market 235,371 201,916 699,474 517,524
Time 174,741 164,336 486,248 370,398
Interest on short-term borrowings 451 5,189 21,754 89,345
Interest on long-term borrowings and junior subordinated debentures 39,488 29,159 109,464 75,237
Total interest expense 450,051 400,600 1,316,940 1,052,504
Net Interest Income 410,498 412,418 1,205,731 1,268,203
(Credit) provision for credit losses for available for sale and held to maturity securities (14) (30) (129) 4,675
Provision for credit losses for loans 75,038 9,147 202,423 24,929
Net Interest Income After Provision for Credit Losses 335,474 403,301 1,003,437 1,238,599
Non-Interest Income        
Insurance commissions 2,880 2,336 9,089 7,895
Capital markets 6,347 7,141 19,796 35,000
Gains (losses) on securities transactions, net 47 (398) 99 197
Fees from loan servicing 3,443 2,681 9,322 8,054
(Losses) gains on sales of loans, net (3,644) 2,023 (1,142) 3,752
Gains on sales of assets, net 55 6,653 3,747 6,938
Bank owned life insurance 5,387 2,709 13,167 7,736
Other 18,205 13,150 37,743 39,316
Total non-interest income 60,671 58,664 173,299 173,038
Non-Interest Expense        
Salary and employee benefits expense 138,832 137,292 421,478 431,872
Net occupancy expense 26,973 24,675 75,548 73,880
Technology, furniture and equipment expense 28,962 37,320 99,627 106,304
FDIC insurance assessment 14,792 7,946 47,474 27,527
Amortization of other intangible assets 8,692 9,741 26,672 30,072
Professional and legal fees 14,118 17,109 48,521 55,329
Amortization of tax credit investments 5,853 4,191 17,206 13,462
Other 31,249 28,859 90,752 83,824
Total non-interest expense 269,471 267,133 827,278 822,270
Income Before Income Taxes 126,674 194,832 349,458 589,367
Income tax expense 28,818 53,486 84,898 162,410
Net Income 97,856 141,346 264,560 426,957
Dividends on preferred stock 6,117 4,127 14,344 12,031
Net Income Available to Common Shareholders $ 91,739 $ 137,219 $ 250,216 $ 414,926
Earnings Per Common Share:        
Basic (usd per share) $ 0.18 $ 0.27 $ 0.49 $ 0.82
Diluted (usd per share) $ 0.18 $ 0.27 $ 0.49 $ 0.81
Wealth management and trust fees        
Non-Interest Income        
Revenue from contracts with customer $ 15,125 $ 11,417 $ 46,191 $ 32,180
Service charges on deposit accounts        
Non-Interest Income        
Revenue from contracts with customer $ 12,826 $ 10,952 $ 35,287 $ 31,970