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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income:        
Loans $ 648,739 $ 570,120 $ 1,287,469 $ 1,111,330
Money market investments 88,316 100,775 176,832 166,499
Investment securities 184,852 123,112 351,747 255,200
Total interest income 921,907 794,007 1,816,048 1,533,029
Interest expense:        
Deposits 339,939 243,488 669,435 436,703
Short-term borrowings 1,126 1,624 2,318 4,509
Long-term debt 12,530 17,227 25,239 28,493
Total interest expense 353,595 262,339 696,992 469,705
Net interest income 568,312 531,668 1,119,056 1,063,324
Provision for credit losses 46,794 37,192 119,392 84,829
Net interest income after provision for credit losses 521,518 494,476 999,664 978,495
Mortgage banking activities 5,723 2,316 10,083 9,716
Net gain, including impairment on equity securities 319 1,384 1,422 2,484
Net gain on trading account debt securities 277 35 638 413
Adjustments to indemnity reserves on loans sold 212 (456) (25) 156
Other operating income 25,386 25,146 51,903 52,863
Total non-interest income 166,306 160,471 330,124 322,432
Operating expenses:        
Personnel costs 197,424 191,468 412,801 390,228
Net occupancy expenses 27,692 27,165 55,733 53,204
Equipment expenses 9,662 9,561 19,229 17,973
Other taxes 15,333 16,409 29,708 32,700
Professional fees 37,744 50,132 66,662 83,563
Technology and software expenses 79,752 72,354 159,214 140,913
Processing and transactional services 39,096 36,801 73,290 70,710
Communications 4,357 4,175 8,914 8,263
Business promotion 25,449 25,083 46,438 43,954
Deposit insurance 10,581 6,803 34,468 15,668
Other real estate owned (OREO) income (5,750) (3,314) (11,071) (5,008)
Other operating expenses 27,502 22,852 55,774 47,213
Amortization of intangibles 734 795 1,529 1,590
Total operating expenses 469,576 460,284 952,689 900,971
Income before income tax 218,248 194,663 377,099 399,956
Income tax expense 40,459 43,503 96,027 89,817
Net Income 177,789 151,160 281,072 310,139
Net Income Applicable to Common Stock $ 177,436 $ 150,807 $ 280,366 $ 309,433
Net Income per Common Share - Basic $ 2.47 $ 2.10 $ 3.90 $ 4.32
Net Income per Common Share - Diluted $ 2.46 $ 2.10 $ 3.90 $ 4.32
Service charges on deposit accounts        
Interest expense:        
Revenue from contract with customer $ 37,526 $ 37,781 $ 74,968 $ 72,459
Other service fees        
Interest expense:        
Revenue from contract with customer $ 96,863 $ 94,265 $ 191,135 $ 184,341