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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Loans $ 684,587 $ 648,739 $ 1,351,260 $ 1,287,469
Money market investments 69,532 88,316 139,698 176,832
Investment securities 189,753 184,852 369,912 351,747
Total interest income 943,872 921,907 1,860,870 1,816,048
Interest expense:        
Deposits 295,058 339,939 592,921 669,435
Short-term borrowings 5,300 1,126 6,726 2,318
Long-term debt 11,965 12,530 24,077 25,239
Total interest expense 312,323 353,595 623,724 696,992
Net interest income 631,549 568,312 1,237,146 1,119,056
Provision for credit losses 48,941 46,794 113,022 119,392
Net interest income after provision for credit losses 582,608 521,518 1,124,124 999,664
Mortgage banking activities 4,872 5,723 8,561 10,083
Net gain, including impairment on equity securities 1,862 319 1,448 1,422
Net gain on trading account debt securities 538 277 1,058 638
Adjustments to indemnity reserves on loans sold 120 212 293 (25)
Other operating income 21,737 25,386 36,268 51,903
Total non-interest income 168,477 166,306 320,538 330,124
Operating expenses:        
Personnel costs 229,355 197,424 442,068 412,801
Net occupancy expenses 29,140 27,692 56,358 55,733
Equipment expenses 5,789 9,662 11,091 19,229
Other taxes 18,632 15,333 37,357 29,708
Professional fees 28,108 37,744 54,933 66,662
Technology and software expenses 84,696 79,752 168,364 159,214
Processing and transactional services 37,861 39,096 75,642 73,290
Communications 5,010 4,357 9,914 8,914
Business promotion 26,385 25,449 50,060 46,438
Deposit insurance 9,407 10,581 19,442 34,468
Other real estate owned (OREO) income (4,124) (5,750) (7,454) (11,071)
Other operating expenses 22,117 27,502 45,016 55,774
Amortization of intangibles 385 734 982 1,529
Total operating expenses 492,761 469,576 963,773 952,689
Income before income tax 258,324 218,248 480,889 377,099
Income tax expense 47,884 40,459 92,947 96,027
Net Income 210,440 177,789 387,942 281,072
Net Income Applicable to Common Stock $ 210,087 $ 177,436 $ 387,236 $ 280,366
Net Income per Common Share - Basic $ 3.09 $ 2.47 $ 5.64 $ 3.90
Net Income per Common Share - Diluted $ 3.09 $ 2.46 $ 5.64 $ 3.90
Service charges on deposit accounts        
Interest expense:        
Service charges on deposit accounts $ 38,826 $ 37,526 $ 77,880 $ 74,968
Other service fees        
Interest expense:        
Service charges on deposit accounts $ 100,522 $ 96,863 $ 195,030 $ 191,135