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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income        
Loans and leases $ 319,214 $ 336,382 $ 966,525 $ 988,029
Investment securities interest and dividend income 39,246 37,195 105,530 113,293
Overnight investments 3,395 757 6,948 5,828
Total interest income 361,855 374,334 1,079,003 1,107,150
Interest expense        
Deposits 8,073 13,468 25,408 55,578
Securities sold under customer repurchase agreements 358 395 1,052 1,236
Federal Home Loan Bank borrowings 2,114 2,156 6,300 7,612
Subordinated debt 4,174 4,351 12,543 11,783
Interest Expense, Other 249 305 768 1,488
Total interest expense 14,968 20,675 46,071 77,697
Net interest income 346,887 353,659 1,032,932 1,029,453
Provision (credit) for loan and lease losses (1,120) 4,042 (31,697) 52,949
Net interest income after provision for loan and lease losses 348,007 349,617 1,064,629 976,504
Noninterest income        
Mortgage income 6,106 13,106 25,026 28,141
Realized gains on investment securities available for sale, net 8,082 21,425 33,119 54,972
Realized gains on investment securities available for sale, net 3,350 (2,701) 31,015 10,461
Other 2,639 2,008 6,363 5,330
Total noninterest income 122,944 120,572 393,743 349,985
Noninterest expense        
Salaries and wages 160,947 147,297 462,420 439,185
Employee benefits 32,146 31,788 103,169 100,663
Occupancy expense 29,101 27,990 87,283 85,026
Equipment expense 30,229 29,430 88,934 86,054
Processing fees paid to third parties 15,602 11,927 43,702 32,485
FDIC insurance expense 3,661 2,167 10,261 9,364
Collection and foreclosure-related expenses 836 2,168 3,207 10,171
Merger-related expenses 7,013 3,507 19,601 12,108
Other 33,283 35,388 91,745 108,256
Total noninterest expense 312,818 291,662 910,322 883,312
Income before income taxes 158,133 178,527 548,050 443,177
Income taxes 34,060 35,843 123,873 89,538
Net income 124,073 142,684 424,177 353,639
Preferred stock dividends 4,636 4,636 13,908 9,426
Net income available to common shareholders, basic 119,437 138,048 410,269 344,213
Net income available to common shareholders, diluted $ 119,437 $ 138,048 $ 410,269 $ 344,213
Weighted average common shares outstanding, basic (in shares) 9,816,405 9,836,629 9,816,405 10,137,321
Weighted average common shares outstanding, diluted (in shares) 9,816,405 9,836,629 9,816,405 10,137,321
Earnings per common share, diluted $ 12.17 $ 14.03 $ 41.79 $ 33.96
Earnings per common share, basic $ 12.17 $ 14.03 $ 41.79 $ 33.96
Service charges on deposit accounts        
Noninterest income        
Revenue from contract with customers $ 22,879 $ 19,756 $ 65,310 $ 55,503
Cardholder services, net        
Noninterest income        
Revenue from contract with customers 8,409 6,763 25,858 18,014
Wealth management services        
Noninterest income        
Revenue from contract with customers 31,935 26,369 95,886 75,152
Service charges on deposit accounts        
Noninterest income        
Revenue from contract with customers 24,858 20,841 68,277 64,776
ATM income        
Noninterest income        
Revenue from contract with customers 9,205 7,892 26,653 22,829
Marketable equity securities gains (losses), net        
Noninterest income        
Revenue from contract with customers 4,000 3,576 11,702 10,453
Gain on extinguishment of debt        
Noninterest income        
Revenue from contract with customers $ 1,481 $ 1,537 $ 4,534 $ 4,354