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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income:        
Loans $ 664,731 $ 596,886 $ 1,952,200 $ 1,708,216
Money market investments 96,061 99,286 272,893 265,785
Investment securities 176,656 148,614 528,403 403,814
Total interest income 937,448 844,786 2,753,496 2,377,815
Interest expense:        
Deposits 350,985 294,121 1,020,420 730,824
Short-term borrowings 1,430 1,478 3,748 5,987
Long-term debt 12,560 15,167 37,799 43,660
Total interest expense 364,975 310,766 1,061,967 780,471
Net interest income 572,473 534,020 1,691,529 1,597,344
Provision for credit losses 71,448 45,117 190,840 129,946
Net interest income after provision for credit losses 501,025 488,903 1,500,689 1,467,398
Mortgage banking activities 2,670 5,393 12,753 15,109
Net (loss) gain, including impairment on equity securitie (546) (1,319) 876 1,165
Net gain on trading account debt securities 817 219 1,455 632
Net loss on sale of loans on loans held-for-sale, including valuation adjustments 0 (44) 0 (44)
Adjustments to indemnity reserves on loans sold 808 (187) 783 (31)
Other operating income 23,270 24,762 75,173 77,625
Total non-interest income 164,082 159,549 494,206 481,981
Operating expenses:        
Personnel costs 201,856 193,152 614,657 583,380
Net occupancy expenses 28,031 28,100 83,764 81,304
Equipment expenses 9,349 8,905 28,578 26,878
Other taxes 17,757 8,590 47,465 41,290
Professional fees 26,708 38,514 93,370 122,077
Technology and software expenses 88,452 72,930 247,666 213,843
Processing and transactional services 34,320 37,899 107,610 108,609
Communications 5,229 4,220 14,143 12,483
Business promotion 25,637 23,075 72,075 67,029
Deposit insurance 10,433 8,932 44,901 24,600
Other real estate owned (OREO) income (2,674) (5,189) (13,745) (10,197)
Other operating expenses 21,519 23,061 77,293 70,274
Amortization of intangibles 704 795 2,233 2,385
Goodwill impairment losses 0 23,000 0 23,000
Total operating expenses 467,321 465,984 1,420,010 1,366,955
Income before income tax 197,786 182,468 574,885 582,424
Income tax expense 42,463 45,859 138,490 135,676
Net Income 155,323 136,609 436,395 446,748
Net Income Applicable to Common Stock $ 154,970 $ 136,256 $ 435,336 $ 445,689
Net Income per Common Share - Basic $ 2.16 $ 1.90 $ 6.06 $ 6.22
Net Income per Common Share - Diluted $ 2.16 $ 1.90 $ 6.05 $ 6.21
Service charges on deposit accounts        
Interest expense:        
Revenue from contract with customer $ 38,315 $ 37,318 $ 113,283 $ 109,777
Other service fees        
Interest expense:        
Revenue from contract with customer $ 98,748 $ 93,407 $ 289,883 $ 277,748